FINANCE AND CONSULTANCY: 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 AND CONSULTANCY
Largest movements
- Current investments +€582,138
up €582,138 (+19.2%), from €3.0m to €3.6m
- Cash +€422,598
up €422,598 (+421%), from €100,493 to €523,091
mainly Net result for the year (+€397,167) and Stocks and contracts (+€317,445)
- Stocks and contracts -€317,445
down €317,445 (-23.0%), from €1.4m to €1.1m
- Receivables within one year -€130,939
down €130,939 (-85.2%), from €153,662 to €22,723
of which Other amounts receivable: -€135,224
- Tangible fixed assets -€98,469
down €98,469 (-3.1%), from €3.1m to €3.0m
of which Land and buildings: -€102,275
- Reserves +€397,167
up €397,167 (+6.4%), from €6.2m to €6.6m
of which Distributable reserves: +€426,321
- Gross operating margin +€347,958
up €347,958 (+182%), from €191,336 to €539,294
- Taxes +€108,712
up €108,712 (+750%), from €14,500 to €123,212
- Financial income +€83,845
up €83,845 (+64.4%), from €130,295 to €214,140
of which Financial income: +€83,845
- Financial charges -€8,515
down €8,515 (-7.5%), from €113,670 to €105,155
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 | €8,163,185 | €8,616,785 | +€453,600 | +5.6% |
| Fixed assets | 21/28 | €3,488,062 | €3,389,689 | -€98,372 | -2.8% |
| Tangible fixed assets | 22/27 | €3,132,611 | €3,034,142 | -€98,469 | -3.1% |
| Land and buildings | 22 | €3,107,965 | €3,005,690 | -€102,275 | -3.3% |
| Plant, machinery and equipment | 23 | €18,892 | €25,796 | +€6,904 | +36.5% |
| Furniture and vehicles | 24 | €5,755 | €2,657 | -€3,098 | -53.8% |
| Financial fixed assets | 28 | €355,450 | €355,547 | +€97 | 0.0% |
| Current assets | 29/58 | €4,675,124 | €5,227,096 | +€551,972 | +11.8% |
| Stocks and contracts in progress | 3 | €1,381,099 | €1,063,654 | -€317,445 | -23.0% |
| Stocks | 30/36 | €1,381,099 | €1,063,654 | -€317,445 | -23.0% |
| Amounts receivable within one year | 40/41 | €153,662 | €22,723 | -€130,939 | -85.2% |
| Trade receivables | 40 | €9,649 | €13,934 | +€4,284 | +44.4% |
| Other amounts receivable | 41 | €144,013 | €8,789 | -€135,224 | -93.9% |
| Current investments | 50/53 | €3,029,032 | €3,611,171 | +€582,138 | +19.2% |
| Cash at bank and in hand | 54/58 | €100,493 | €523,091 | +€422,598 | +421% |
| Deferred charges and accrued income | 490/1 | €10,837 | €6,457 | -€4,380 | -40.4% |
| Total equity and liabilities | 10/49 | €8,163,185 | €8,616,785 | +€453,600 | +5.6% |
| Equity | 10/15 | €6,326,272 | €6,723,439 | +€397,167 | +6.3% |
| Contributions | 10/11 | €91,000 | €91,000 | = | 0.0% |
| Capital | 10 | €91,000 | €91,000 | = | 0.0% |
| Issued capital | 100 | €91,000 | €91,000 | = | 0.0% |
| Reserves | 13 | €6,235,272 | €6,632,439 | +€397,167 | +6.4% |
| Non-distributable reserves | 130/1 | €9,100 | €9,100 | = | 0.0% |
| Legal reserve | 130 | €9,100 | €9,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €618,991 | €589,836 | -€29,154 | -4.7% |
| Distributable reserves | 133 | €5,607,182 | €6,033,503 | +€426,321 | +7.6% |
| Provisions and deferred taxes | 16 | €282,998 | €269,501 | -€13,496 | -4.8% |
| Deferred taxes | 168 | €282,998 | €269,501 | -€13,496 | -4.8% |
| Amounts payable | 17/49 | €1,553,916 | €1,623,845 | +€69,929 | +4.5% |
| Amounts payable within one year | 42/48 | €1,553,916 | €1,623,845 | +€69,929 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €15,037 | €13,897 | -€1,140 | -7.6% |
| Financial debts | 43 | €78,463 | €72,687 | -€5,776 | -7.4% |
| Credit institutions | 430/8 | €78,463 | €72,687 | -€5,776 | -7.4% |
| Trade debts | 44 | €158 | €400 | +€242 | +153% |
| Suppliers | 440/4 | €158 | €400 | +€242 | +153% |
| Advances received on contracts in progress | 46 | €5,453 | €4,039 | -€1,413 | -25.9% |
| Taxes, remuneration and social security | 45 | €36,908 | €37,020 | +€112 | +0.3% |
| Taxes | 450/3 | €36,908 | €37,020 | +€112 | +0.3% |
| Other amounts payable | 47/48 | €1,417,897 | €1,495,801 | +€77,904 | +5.5% |
| Non-recurring operating income | 76A | €4,728 | €3,167 | -€1,561 | -33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,942 | €109,855 | +€4,913 | +4.7% |
| Other operating charges | 640/8 | €31,265 | €31,542 | +€277 | +0.9% |
| Non-recurring operating charges | 66A | €2,382 | €0 | -€2,382 | -100% |
| Gross operating margin | 9900 | €191,336 | €539,294 | +€347,958 | +182% |
| Operating profit (loss) | 9901 | €52,747 | €397,897 | +€345,150 | +654% |
| Financial income | 75/76B | €130,295 | €214,140 | +€83,845 | +64.4% |
| Recurring financial income | 75 | €130,295 | €214,140 | +€83,845 | +64.4% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €113,670 | €105,155 | -€8,515 | -7.5% |
| Recurring financial charges | 65 | €113,670 | €105,155 | -€8,515 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €69,372 | €506,883 | +€437,510 | +631% |
| Transfer from deferred taxes | 780 | €13,496 | €13,496 | = | 0.0% |
| Income taxes | 67/77 | €14,500 | €123,212 | +€108,712 | +750% |
| Profit (loss) for the period | 9904 | €68,369 | €397,167 | +€328,798 | +481% |
| Transfer from tax-exempt reserves | 789 | €29,154 | €29,154 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €97,523 | €426,321 | +€328,798 | +337% |
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 1 November 2026 via checked.be.