FINANCE TEAM: 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 TEAM
Largest movements
- Cash +€85,144
up €85,144 (+20.8%), from €408,424 to €493,568
mainly Depreciation (+€119,385) and Deferred charges and accrued income (+€45,948)
- Intangible fixed assets -€82,600
down €82,600 (-88.4%), from €93,462 to €10,862
- Deferred charges and accrued income -€45,948
down €45,948 (-16.7%), from €275,688 to €229,740
- Tangible fixed assets -€27,796
down €27,796 (-30.2%), from €92,164 to €64,368
of which Furniture and vehicles: -€16,167
- Receivables within one year +€14,201
up €14,201 (+12.2%), from €116,394 to €130,595
of which Trade receivables: +€13,952
- Current portion of long-term debt -€45,547
down €45,547 (-74.9%), from €60,830 to €15,283
- Profit (loss) carried forward +€19,544
up €19,544 (+2.1%), from €941,776 to €961,321
- Debts after one year -€15,283
down €15,283 (-100%), from €15,283 to €0
- Staff costs +€65,357
up €65,357 (+20.4%), from €320,711 to €386,068
- Gross operating margin +€36,304
up €36,304 (+7.0%), from €516,789 to €553,092
- Financial income -€11,395
down €11,395 (-69.5%), from €16,390 to €4,995
- Taxes -€9,736
down €9,736 (-41.1%), from €23,705 to €13,968
- Other operating charges +€6,773
up €6,773 (+58.5%), from €11,585 to €18,357
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 | €1,095,133 | €1,038,134 | -€56,999 | -5.2% |
| Fixed assets | 21/28 | €294,626 | €184,230 | -€110,396 | -37.5% |
| Intangible fixed assets | 21 | €93,462 | €10,862 | -€82,600 | -88.4% |
| Tangible fixed assets | 22/27 | €92,164 | €64,368 | -€27,796 | -30.2% |
| Furniture and vehicles | 24 | €59,514 | €43,346 | -€16,167 | -27.2% |
| Other tangible fixed assets | 26 | €32,651 | €21,021 | -€11,629 | -35.6% |
| Financial fixed assets | 28 | €109,000 | €109,000 | = | 0.0% |
| Current assets | 29/58 | €800,507 | €853,904 | +€53,397 | +6.7% |
| Amounts receivable within one year | 40/41 | €116,394 | €130,595 | +€14,201 | +12.2% |
| Trade receivables | 40 | €86,037 | €99,989 | +€13,952 | +16.2% |
| Other amounts receivable | 41 | €30,357 | €30,607 | +€249 | +0.8% |
| Cash at bank and in hand | 54/58 | €408,424 | €493,568 | +€85,144 | +20.8% |
| Deferred charges and accrued income | 490/1 | €275,688 | €229,740 | -€45,948 | -16.7% |
| Total equity and liabilities | 10/49 | €1,095,133 | €1,038,134 | -€56,999 | -5.2% |
| Equity | 10/15 | €953,970 | €973,514 | +€19,544 | +2.0% |
| Contributions | 10/11 | €10,333 | €10,333 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €941,776 | €961,321 | +€19,544 | +2.1% |
| Provisions and deferred taxes | 16 | €18,842 | €18,842 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €18,842 | €18,842 | = | 0.0% |
| Taxes | 161 | €18,842 | €18,842 | = | 0.0% |
| Amounts payable | 17/49 | €122,321 | €45,778 | -€76,544 | -62.6% |
| Amounts payable after more than one year | 17 | €15,283 | €0 | -€15,283 | -100% |
| Financial debts | 170/4 | €15,283 | €0 | -€15,283 | -100% |
| Amounts payable within one year | 42/48 | €107,039 | €45,778 | -€61,261 | -57.2% |
| Current portion of amounts payable after more than one year | 42 | €60,830 | €15,283 | -€45,547 | -74.9% |
| Trade debts | 44 | €5,827 | - | -€5,827 | |
| Suppliers | 440/4 | €5,827 | - | -€5,827 | |
| Taxes, remuneration and social security | 45 | €40,381 | €30,495 | -€9,886 | -24.5% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €40,381 | €30,495 | -€9,886 | -24.5% |
| Non-recurring operating income | 76A | - | €974 | +€974 | |
| Remuneration, social security and pensions | 62 | €320,711 | €386,068 | +€65,357 | +20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,095 | €119,385 | +€2,290 | +2.0% |
| Other operating charges | 640/8 | €11,585 | €18,357 | +€6,773 | +58.5% |
| Gross operating margin | 9900 | €516,789 | €553,092 | +€36,304 | +7.0% |
| Operating profit (loss) | 9901 | €67,399 | €29,282 | -€38,116 | -56.6% |
| Financial income | 75/76B | €16,390 | €4,995 | -€11,395 | -69.5% |
| Recurring financial income | 75 | €16,390 | €4,995 | -€11,395 | -69.5% |
| Financial charges | 65/66B | €1,223 | €764 | -€458 | -37.5% |
| Recurring financial charges | 65 | €1,223 | €764 | -€458 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | €82,566 | €33,513 | -€49,053 | -59.4% |
| Income taxes | 67/77 | €23,705 | €13,968 | -€9,736 | -41.1% |
| Profit (loss) for the period | 9904 | €58,861 | €19,544 | -€39,317 | -66.8% |
| Profit (loss) for the period to be appropriated | 9905 | €58,861 | €19,544 | -€39,317 | -66.8% |
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 25 October 2026 via checked.be.