Financial'P: 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.
Financial'P
Largest movements
- Current investments +€358,000
up €358,000 (+45.1%), from €793,000 to €1.2m
- Cash -€121,502
down €121,502 (-92.7%), from €131,119 to €9,617
mainly Current investments (-€358,000) and Trade debts (-€14,776)
- Tangible fixed assets -€18,961
down €18,961 (-22.9%), from €82,887 to €63,926
of which Furniture and vehicles: -€12,109
- Reserves +€427,000
up €427,000 (+67.0%), from €636,860 to €1.1m
of which Distributable reserves: +€427,000
- Profit (loss) carried forward -€198,165
down €198,165 (-58.3%), from €339,661 to €141,496
- Trade debts -€14,776
no longer reported in 2025 (was €14,776)
- Taxes +€41,473
up €41,473 (+76.1%), from €54,492 to €95,965
- Gross operating margin +€15,959
up €15,959 (+3.3%), from €485,369 to €501,328
- Financial income +€9,546
up €9,546 (+63.5%), from €15,029 to €24,574
of which Financial income: +€5,587
- Other operating charges +€6,498
up €6,498 (+149%), from €4,362 to €10,861
- Staff costs -€5,867
down €5,867 (-3.4%), from €170,781 to €164,914
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 | €1,092,764 | €1,317,967 | +€225,203 | +20.6% |
| Fixed assets | 21/28 | €82,887 | €63,926 | -€18,961 | -22.9% |
| Tangible fixed assets | 22/27 | €82,887 | €63,926 | -€18,961 | -22.9% |
| Land and buildings | 22 | €59,418 | €52,477 | -€6,941 | -11.7% |
| Plant, machinery and equipment | 23 | €725 | €813 | +€88 | +12.2% |
| Furniture and vehicles | 24 | €22,744 | €10,636 | -€12,109 | -53.2% |
| Current assets | 29/58 | €1,009,876 | €1,254,041 | +€244,164 | +24.2% |
| Amounts receivable within one year | 40/41 | - | €1,303 | +€1,303 | |
| Other amounts receivable | 41 | - | €1,303 | +€1,303 | |
| Current investments | 50/53 | €793,000 | €1,151,000 | +€358,000 | +45.1% |
| Cash at bank and in hand | 54/58 | €131,119 | €9,617 | -€121,502 | -92.7% |
| Deferred charges and accrued income | 490/1 | €85,757 | €92,121 | +€6,363 | +7.4% |
| Total equity and liabilities | 10/49 | €1,092,764 | €1,317,967 | +€225,203 | +20.6% |
| Equity | 10/15 | €995,121 | €1,223,956 | +€228,835 | +23.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €636,860 | €1,063,860 | +€427,000 | +67.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €635,000 | €1,062,000 | +€427,000 | +67.2% |
| Profit (loss) carried forward | 14 | €339,661 | €141,496 | -€198,165 | -58.3% |
| Amounts payable | 17/49 | €97,643 | €94,010 | -€3,633 | -3.7% |
| Amounts payable within one year | 42/48 | €97,643 | €94,010 | -€3,633 | -3.7% |
| Financial debts | 43 | - | €84 | +€84 | |
| Credit institutions | 430/8 | - | €84 | +€84 | |
| Trade debts | 44 | €14,776 | - | -€14,776 | |
| Suppliers | 440/4 | €14,776 | - | -€14,776 | |
| Taxes, remuneration and social security | 45 | €10,762 | €10,034 | -€727 | -6.8% |
| Taxes | 450/3 | - | €1,641 | +€1,641 | |
| Remuneration and social security | 454/9 | €10,762 | €8,393 | -€2,369 | -22.0% |
| Other amounts payable | 47/48 | €72,105 | €83,891 | +€11,787 | +16.3% |
| Non-recurring operating income | 76A | - | €56,000 | +€56,000 | |
| Remuneration, social security and pensions | 62 | €170,781 | €164,914 | -€5,867 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,816 | €19,480 | -€336 | -1.7% |
| Other operating charges | 640/8 | €4,362 | €10,861 | +€6,498 | +149% |
| Gross operating margin | 9900 | €485,369 | €501,328 | +€15,959 | +3.3% |
| Operating profit (loss) | 9901 | €290,409 | €306,073 | +€15,663 | +5.4% |
| Financial income | 75/76B | €15,029 | €24,574 | +€9,546 | +63.5% |
| Recurring financial income | 75 | €15,029 | €20,616 | +€5,587 | +37.2% |
| Non-recurring financial income | 76B | - | €3,958 | +€3,958 | |
| Financial charges | 65/66B | €1,017 | €6,497 | +€5,480 | +539% |
| Recurring financial charges | 65 | €1,017 | €6,497 | +€5,480 | +539% |
| Profit (loss) for the period before taxes | 9903 | €304,421 | €324,150 | +€19,729 | +6.5% |
| Income taxes | 67/77 | €54,492 | €95,965 | +€41,473 | +76.1% |
| Profit (loss) for the period | 9904 | €249,929 | €228,185 | -€21,744 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €249,929 | €228,185 | -€21,744 | -8.7% |
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 23 October 2026 via checked.be.