FINANCE 2020: 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.
FINANCE 2020
Largest movements
- Receivables within one year -€299,124
down €299,124 (-89.8%), from €333,082 to €33,958
of which Trade receivables: -€299,124
- Current investments -€75,000
down €75,000 (-100.0%), from €75,000 to €0
- Advances received -€450,000
down €450,000 (-100.0%), from €450,000 to €0
- Reserves +€85,000
up €85,000 (+3.5%), from €2.5m to €2.5m
of which Distributable reserves: +€85,000
- Current portion of long-term debt -€37,382
down €37,382 (-100.0%), from €37,382 to €0
- Gross operating margin +€40,464
up €40,464 (+28.7%), from €141,119 to €181,583
- Depreciation -€29,895
down €29,895 (-37.7%), from €79,329 to €49,434
- Taxes +€16,034
up €16,034 (+134.5%), from €11,918 to €27,952
- Financial charges +€5,407
up €5,407 (+57.0%), from €9,483 to €14,889
- Other operating charges +€2,093
up €2,093 (+62.3%), from €3,357 to €5,450
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 | €3,201,085 | €2,839,783 | -€361,302 | -11.3% |
| Fixed assets | 21/28 | €2,792,949 | €2,774,672 | -€18,277 | -0.7% |
| Tangible fixed assets | 22/27 | €1,350,949 | €1,332,672 | -€18,277 | -1.4% |
| Land and buildings | 22 | €1,350,949 | €1,332,672 | -€18,277 | -1.4% |
| Financial fixed assets | 28 | €1,442,000 | €1,442,000 | = | 0.0% |
| Current assets | 29/58 | €408,136 | €65,111 | -€343,025 | -84.0% |
| Amounts receivable within one year | 40/41 | €333,082 | €33,958 | -€299,124 | -89.8% |
| Trade receivables | 40 | €315,000 | €15,876 | -€299,124 | -95.0% |
| Other amounts receivable | 41 | €18,082 | €18,082 | = | 0.0% |
| Current investments | 50/53 | €75,000 | €0 | -€75,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €54 | €31,152 | +€31,098 | +57643.2% |
| Total equity and liabilities | 10/49 | €3,201,085 | €2,839,783 | -€361,302 | -11.3% |
| Equity | 10/15 | €2,484,759 | €2,568,616 | +€83,857 | +3.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,460,000 | €2,545,000 | +€85,000 | +3.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,460,000 | €2,545,000 | +€85,000 | +3.5% |
| Profit (loss) carried forward | 14 | €4,759 | €3,616 | -€1,143 | -24.0% |
| Amounts payable | 17/49 | €716,326 | €271,167 | -€445,159 | -62.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €716,326 | €256,595 | -€459,731 | -64.2% |
| Current portion of amounts payable after more than one year | 42 | €37,382 | €0 | -€37,382 | -100.0% |
| Financial debts | 43 | €4,470 | €0 | -€4,470 | -100.0% |
| Credit institutions | 430/8 | €4,470 | €0 | -€4,470 | -100.0% |
| Trade debts | 44 | €2,171 | €18,974 | +€16,803 | +774.0% |
| Suppliers | 440/4 | €2,171 | €18,974 | +€16,803 | +774.0% |
| Advances received on contracts in progress | 46 | €450,000 | €0 | -€450,000 | -100.0% |
| Taxes, remuneration and social security | 45 | €2,877 | €5,363 | +€2,486 | +86.4% |
| Taxes | 450/3 | €2,877 | €5,363 | +€2,486 | +86.4% |
| Other amounts payable | 47/48 | €219,425 | €232,258 | +€12,833 | +5.8% |
| Accrued charges and deferred income | 492/3 | - | €14,572 | +€14,572 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,329 | €49,434 | -€29,895 | -37.7% |
| Other operating charges | 640/8 | €3,357 | €5,450 | +€2,093 | +62.3% |
| Gross operating margin | 9900 | €141,119 | €181,583 | +€40,464 | +28.7% |
| Operating profit (loss) | 9901 | €58,433 | €126,699 | +€68,265 | +116.8% |
| Financial income | 75/76B | €300 | €0 | -€300 | -100.0% |
| Recurring financial income | 75 | €300 | €0 | -€300 | -100.0% |
| Financial charges | 65/66B | €9,483 | €14,889 | +€5,407 | +57.0% |
| Recurring financial charges | 65 | €9,483 | €14,889 | +€5,407 | +57.0% |
| Profit (loss) for the period before taxes | 9903 | €49,251 | €111,809 | +€62,559 | +127.0% |
| Income taxes | 67/77 | €11,918 | €27,952 | +€16,034 | +134.5% |
| Profit (loss) for the period | 9904 | €37,332 | €83,857 | +€46,524 | +124.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,332 | €83,857 | +€46,524 | +124.6% |
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 10 October 2026 via checked.be.