EU STRATEGY: 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.
EU STRATEGY
Largest movements
- Receivables within one year +€209,598
up €209,598 (+59.9%), from €349,937 to €559,535
of which Other amounts receivable: +€154,071
- Tangible fixed assets -€33,522
down €33,522 (-30.5%), from €109,847 to €76,325
of which Other tangible fixed assets: -€34,261
- Profit (loss) carried forward +€313,127
up €313,127 (+72.9%), from -€429,389 to -€116,262
- Trade debts -€129,931
down €129,931 (-50.0%), from €259,776 to €129,845
- Tax, wage and social debts +€45,188
up €45,188 (+10.1%), from €445,426 to €490,615
of which Taxes: +€55,623
- Debts after one year -€44,299
down €44,299 (-85.4%), from €51,859 to €7,560
- Short-term financial debts -€9,500
down €9,500 (-100%), from €9,500 to €0
- Gross operating margin +€171,051
up €171,051 (+16.9%), from €1.0m to €1.2m
- Staff costs +€31,589
up €31,589 (+4.5%), from €700,125 to €731,713
- Financial charges -€25,580
down €25,580 (-26.4%), from €96,987 to €71,408
From the 2024 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
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €534,506 | €710,871 | +€176,364 | +33.0% |
| Fixed assets | 21/28 | €170,932 | €136,690 | -€34,241 | -20.0% |
| Intangible fixed assets | 21 | €11,085 | €10,366 | -€719 | -6.5% |
| Tangible fixed assets | 22/27 | €109,847 | €76,325 | -€33,522 | -30.5% |
| Furniture and vehicles | 24 | €19,760 | €20,499 | +€739 | +3.7% |
| Other tangible fixed assets | 26 | €90,087 | €55,826 | -€34,261 | -38.0% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €363,575 | €574,180 | +€210,606 | +57.9% |
| Amounts receivable within one year | 40/41 | €349,937 | €559,535 | +€209,598 | +59.9% |
| Trade receivables | 40 | €234,970 | €290,497 | +€55,527 | +23.6% |
| Other amounts receivable | 41 | €114,967 | €269,038 | +€154,071 | +134% |
| Cash at bank and in hand | 54/58 | €2 | €1,969 | +€1,968 | +111,158% |
| Deferred charges and accrued income | 490/1 | €13,636 | €12,676 | -€960 | -7.0% |
| Total equity and liabilities | 10/49 | €534,506 | €710,871 | +€176,364 | +33.0% |
| Equity | 10/15 | -€274,575 | €38,552 | +€313,127 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €136,214 | €136,214 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €136,214 | €136,214 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€429,389 | -€116,262 | +€313,127 | +72.9% |
| Amounts payable | 17/49 | €809,081 | €672,319 | -€136,762 | -16.9% |
| Amounts payable after more than one year | 17 | €51,859 | €7,560 | -€44,299 | -85.4% |
| Financial debts | 170/4 | €51,859 | €7,560 | -€44,299 | -85.4% |
| Amounts payable within one year | 42/48 | €757,222 | €664,759 | -€92,463 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €42,520 | €44,299 | +€1,779 | +4.2% |
| Financial debts | 43 | €9,500 | €0 | -€9,500 | -100% |
| Credit institutions | 430/8 | €9,500 | €0 | -€9,500 | -100% |
| Trade debts | 44 | €259,776 | €129,845 | -€129,931 | -50.0% |
| Suppliers | 440/4 | €259,776 | €129,845 | -€129,931 | -50.0% |
| Taxes, remuneration and social security | 45 | €445,426 | €490,615 | +€45,188 | +10.1% |
| Taxes | 450/3 | €234,785 | €290,408 | +€55,623 | +23.7% |
| Remuneration and social security | 454/9 | €210,641 | €200,206 | -€10,435 | -5.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €700,125 | €731,713 | +€31,589 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,591 | €54,410 | -€3,181 | -5.5% |
| Other operating charges | 640/8 | €17,101 | €10,547 | -€6,555 | -38.3% |
| Non-recurring operating charges | 66A | €754 | €174 | -€580 | -76.9% |
| Gross operating margin | 9900 | €1,011,242 | €1,182,293 | +€171,051 | +16.9% |
| Operating profit (loss) | 9901 | €235,671 | €385,449 | +€149,777 | +63.6% |
| Financial income | 75/76B | €1,565 | €1,546 | -€19 | -1.2% |
| Recurring financial income | 75 | €1,565 | €1,546 | -€19 | -1.2% |
| Financial charges | 65/66B | €96,987 | €71,408 | -€25,580 | -26.4% |
| Recurring financial charges | 65 | €96,987 | €71,408 | -€25,580 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €140,249 | €315,587 | +€175,338 | +125% |
| Income taxes | 67/77 | €453 | €2,461 | +€2,008 | +443% |
| Profit (loss) for the period | 9904 | €139,796 | €313,127 | +€173,330 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €139,796 | €313,127 | +€173,330 | +124% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.