EQUIT FINANCE & MANAGEMENT: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
EQUIT FINANCE & MANAGEMENT
Largest movements
- Receivables after one year +€105,000
up €105,000 (+18.8%), from €560,000 to €665,000
- Current investments +€90,699
up €90,699 (+172%), from €52,619 to €143,318
- Receivables within one year -€49,684
down €49,684 (-31.8%), from €156,118 to €106,434
- Tangible fixed assets +€42,902
up €42,902 (+105%), from €40,926 to €83,828
of which Furniture and vehicles: +€43,221
- Reserves +€227,500
up €227,500 (+18.0%), from €1.3m to €1.5m
of which Distributable reserves: +€229,360
- Tax, wage and social debts -€26,943
down €26,943 (-27.8%), from €96,751 to €69,808
- Gross operating margin +€12,346
up €12,346 (+2.0%), from €607,100 to €619,446
- Financial income +€8,383
up €8,383 (+26.2%), from €31,956 to €40,339
From the 2023 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,396,255 | €1,587,205 | +€190,950 | +13.7% |
| Fixed assets | 21/28 | €624,576 | €667,478 | +€42,902 | +6.9% |
| Tangible fixed assets | 22/27 | €40,926 | €83,828 | +€42,902 | +105% |
| Furniture and vehicles | 24 | €38,837 | €82,058 | +€43,221 | +111% |
| Other tangible fixed assets | 26 | €2,089 | €1,770 | -€319 | -15.3% |
| Financial fixed assets | 28 | €583,650 | €583,650 | = | 0.0% |
| Current assets | 29/58 | €771,679 | €919,727 | +€148,048 | +19.2% |
| Amounts receivable after more than one year | 29 | €560,000 | €665,000 | +€105,000 | +18.8% |
| Other amounts receivable | 291 | €560,000 | €665,000 | +€105,000 | +18.8% |
| Amounts receivable within one year | 40/41 | €156,118 | €106,434 | -€49,684 | -31.8% |
| Trade receivables | 40 | €156,118 | €106,434 | -€49,684 | -31.8% |
| Current investments | 50/53 | €52,619 | €143,318 | +€90,699 | +172% |
| Cash at bank and in hand | 54/58 | €2,942 | €2,525 | -€417 | -14.2% |
| Deferred charges and accrued income | 490/1 | - | €2,450 | +€2,450 | |
| Total equity and liabilities | 10/49 | €1,396,255 | €1,587,205 | +€190,950 | +13.7% |
| Equity | 10/15 | €1,283,294 | €1,513,355 | +€230,061 | +17.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,262,360 | €1,489,860 | +€227,500 | +18.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €1,260,500 | €1,489,860 | +€229,360 | +18.2% |
| Profit (loss) carried forward | 14 | €14,734 | €17,295 | +€2,561 | +17.4% |
| Amounts payable | 17/49 | €112,961 | €73,850 | -€39,111 | -34.6% |
| Amounts payable within one year | 42/48 | €112,961 | €73,850 | -€39,111 | -34.6% |
| Trade debts | 44 | €14,273 | €1,465 | -€12,808 | -89.7% |
| Suppliers | 440/4 | €14,273 | €1,465 | -€12,808 | -89.7% |
| Taxes, remuneration and social security | 45 | €96,751 | €69,808 | -€26,943 | -27.8% |
| Taxes | 450/3 | €96,751 | €69,808 | -€26,943 | -27.8% |
| Other amounts payable | 47/48 | €1,937 | €2,577 | +€640 | +33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,102 | €19,365 | +€5,263 | +37.3% |
| Other operating charges | 640/8 | €3,328 | €3,281 | -€47 | -1.4% |
| Gross operating margin | 9900 | €607,100 | €619,446 | +€12,346 | +2.0% |
| Operating profit (loss) | 9901 | €589,670 | €596,800 | +€7,130 | +1.2% |
| Financial income | 75/76B | €31,956 | €40,339 | +€8,383 | +26.2% |
| Recurring financial income | 75 | €31,956 | €40,339 | +€8,383 | +26.2% |
| Financial charges | 65/66B | €3,386 | €588 | -€2,798 | -82.6% |
| Recurring financial charges | 65 | €3,386 | €588 | -€2,798 | -82.6% |
| Profit (loss) for the period before taxes | 9903 | €618,240 | €636,551 | +€18,311 | +3.0% |
| Income taxes | 67/77 | €194,284 | €198,990 | +€4,706 | +2.4% |
| Profit (loss) for the period | 9904 | €423,956 | €437,561 | +€13,605 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €423,956 | €437,561 | +€13,605 | +3.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.