EVERY TIME: what changed
Two fiscal 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.
EVERY TIME
Largest movements
- Tangible fixed assets -€189,315
down €189,315 (-3.8%), from €5.0m to €4.8m
- Cash +€121,301
up €121,301 (+50.9%), from €238,521 to €359,822
mainly Depreciation (+€189,315) and Net result for the year (+€185,971)
- Debts after one year -€251,842
down €251,842 (-6.3%), from €4.0m to €3.7m
- Reserves +€185,991
up €185,991 (+10.2%), from €1.8m to €2.0m
of which Distributable reserves: +€219,000
- Financial charges -€88,788
down €88,788 (-50.7%), from €175,084 to €86,296
of which Non-recurring financial charges: -€80,000
- Gross operating margin -€86,082
down €86,082 (-16.4%), from €526,036 to €439,955
- Financial income +€21,609
up €21,609 (+32.3%), from €66,812 to €88,421
- Taxes -€19,209
down €19,209 (-30.4%), from €63,217 to €44,007
- Depreciation -€7,589
down €7,589 (-3.9%), from €196,905 to €189,315
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.
Cash bridge derived
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 | €7,087,873 | €7,015,093 | -€72,780 | -1.0% |
| Fixed assets | 21/28 | €5,701,749 | €5,512,434 | -€189,315 | -3.3% |
| Tangible fixed assets | 22/27 | €4,981,749 | €4,792,434 | -€189,315 | -3.8% |
| Land and buildings | 22 | €4,981,749 | €4,792,434 | -€189,315 | -3.8% |
| Financial fixed assets | 28 | €720,000 | €720,000 | = | 0.0% |
| Current assets | 29/58 | €1,386,124 | €1,502,659 | +€116,535 | +8.4% |
| Amounts receivable within one year | 40/41 | €1,147,603 | €1,142,837 | -€4,766 | -0.4% |
| Trade receivables | 40 | €123,919 | €121,022 | -€2,897 | -2.3% |
| Other amounts receivable | 41 | €1,023,684 | €1,021,815 | -€1,868 | -0.2% |
| Cash at bank and in hand | 54/58 | €238,521 | €359,822 | +€121,301 | +50.9% |
| Total equity and liabilities | 10/49 | €7,087,873 | €7,015,093 | -€72,780 | -1.0% |
| Equity | 10/15 | €1,864,338 | €2,050,309 | +€185,971 | +10.0% |
| Contributions | 10/11 | €47,000 | €47,000 | = | 0.0% |
| Reserves | 13 | €1,817,162 | €2,003,153 | +€185,991 | +10.2% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €682,162 | €649,153 | -€33,009 | -4.8% |
| Distributable reserves | 133 | €1,125,000 | €1,344,000 | +€219,000 | +19.5% |
| Profit (loss) carried forward | 14 | €176 | €156 | -€20 | -11.4% |
| Provisions and deferred taxes | 16 | €227,387 | €216,384 | -€11,003 | -4.8% |
| Deferred taxes | 168 | €227,387 | €216,384 | -€11,003 | -4.8% |
| Amounts payable | 17/49 | €4,996,148 | €4,748,400 | -€247,748 | -5.0% |
| Amounts payable after more than one year | 17 | €3,993,827 | €3,741,985 | -€251,842 | -6.3% |
| Financial debts | 170/4 | €3,993,827 | €3,741,985 | -€251,842 | -6.3% |
| Amounts payable within one year | 42/48 | €993,564 | €998,755 | +€5,191 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €264,863 | €269,738 | +€4,876 | +1.8% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €386 | €759 | +€374 | +96.9% |
| Suppliers | 440/4 | €386 | €759 | +€374 | +96.9% |
| Taxes, remuneration and social security | 45 | €41,282 | €41,224 | -€58 | -0.1% |
| Taxes | 450/3 | €41,282 | €41,224 | -€58 | -0.1% |
| Other amounts payable | 47/48 | €387,034 | €387,034 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €8,758 | €7,660 | -€1,097 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €196,905 | €189,315 | -€7,589 | -3.9% |
| Other operating charges | 640/8 | €33,816 | €33,790 | -€26 | -0.1% |
| Gross operating margin | 9900 | €526,036 | €439,955 | -€86,082 | -16.4% |
| Operating profit (loss) | 9901 | €295,316 | €216,850 | -€78,466 | -26.6% |
| Financial income | 75/76B | €66,812 | €88,421 | +€21,609 | +32.3% |
| Recurring financial income | 75 | €66,812 | €88,421 | +€21,609 | +32.3% |
| Financial charges | 65/66B | €175,084 | €86,296 | -€88,788 | -50.7% |
| Recurring financial charges | 65 | €95,084 | €86,296 | -€8,788 | -9.2% |
| Non-recurring financial charges | 66B | €80,000 | €0 | -€80,000 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €187,044 | €218,975 | +€31,931 | +17.1% |
| Transfer from deferred taxes | 780 | €11,003 | €11,003 | = | 0.0% |
| Income taxes | 67/77 | €63,217 | €44,007 | -€19,209 | -30.4% |
| Profit (loss) for the period | 9904 | €134,831 | €185,971 | +€51,140 | +37.9% |
| Transfer from tax-exempt reserves | 789 | €33,009 | €33,009 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €167,840 | €218,980 | +€51,140 | +30.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.