FLOW: 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.
FLOW
Largest movements
- Receivables after one year -€195,000
no longer reported in 2025 (was €195,000)
- Cash -€56,696
down €56,696 (-28.6%), from €198,233 to €141,537
mainly Contributions, distributions and other (-€336,888) and Tax, wage and social debts (-€12,062)
- Tangible fixed assets -€30,484
down €30,484 (-10.8%), from €282,264 to €251,780
of which Furniture and vehicles: -€16,098
- Receivables within one year -€22,432
down €22,432 (-39.5%), from €56,779 to €34,347
of which Trade receivables: -€22,726
- Reserves -€293,694
down €293,694 (-47.9%), from €612,859 to €319,165
- Other debts +€13,841
up €13,841 (+358%), from €3,868 to €17,709
- Tax, wage and social debts -€12,062
down €12,062 (-22.4%), from €53,937 to €41,876
- Debts after one year -€9,057
down €9,057 (-40.2%), from €22,541 to €13,484
- Gross operating margin -€71,222
down €71,222 (-45.4%), from €156,869 to €85,647
- Taxes -€29,427
down €29,427 (-74.6%), from €39,456 to €10,029
- Financial income -€11,844
down €11,844 (-93.2%), from €12,708 to €864
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 | €732,856 | €428,276 | -€304,580 | -41.6% |
| Fixed assets | 21/28 | €282,364 | €251,880 | -€30,484 | -10.8% |
| Tangible fixed assets | 22/27 | €282,264 | €251,780 | -€30,484 | -10.8% |
| Land and buildings | 22 | €187,440 | €179,041 | -€8,400 | -4.5% |
| Plant, machinery and equipment | 23 | €811 | €341 | -€471 | -58.0% |
| Furniture and vehicles | 24 | €50,778 | €34,680 | -€16,098 | -31.7% |
| Other tangible fixed assets | 26 | €43,234 | €37,718 | -€5,516 | -12.8% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €450,492 | €176,396 | -€274,096 | -60.8% |
| Amounts receivable after more than one year | 29 | €195,000 | - | -€195,000 | |
| Other amounts receivable | 291 | €195,000 | - | -€195,000 | |
| Amounts receivable within one year | 40/41 | €56,779 | €34,347 | -€22,432 | -39.5% |
| Trade receivables | 40 | €26,665 | €3,939 | -€22,726 | -85.2% |
| Other amounts receivable | 41 | €30,113 | €30,407 | +€294 | +1.0% |
| Cash at bank and in hand | 54/58 | €198,233 | €141,537 | -€56,696 | -28.6% |
| Deferred charges and accrued income | 490/1 | €480 | €512 | +€32 | +6.6% |
| Total equity and liabilities | 10/49 | €732,856 | €428,276 | -€304,580 | -41.6% |
| Equity | 10/15 | €631,459 | €337,765 | -€293,694 | -46.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €612,859 | €319,165 | -€293,694 | -47.9% |
| Distributable reserves | 133 | €612,859 | €319,165 | -€293,694 | -47.9% |
| Provisions and deferred taxes | 16 | €9,046 | €5,046 | -€4,000 | -44.2% |
| Provisions for liabilities and charges | 160/5 | €9,046 | €5,046 | -€4,000 | -44.2% |
| Pensions and similar obligations | 160 | €9,046 | €5,046 | -€4,000 | -44.2% |
| Amounts payable | 17/49 | €92,351 | €85,465 | -€6,886 | -7.5% |
| Amounts payable after more than one year | 17 | €22,541 | €13,484 | -€9,057 | -40.2% |
| Financial debts | 170/4 | €22,541 | €13,484 | -€9,057 | -40.2% |
| Amounts payable within one year | 42/48 | €69,810 | €71,981 | +€2,171 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €8,692 | €9,057 | +€364 | +4.2% |
| Trade debts | 44 | €3,312 | €3,340 | +€27 | +0.8% |
| Suppliers | 440/4 | €3,312 | €3,340 | +€27 | +0.8% |
| Taxes, remuneration and social security | 45 | €53,937 | €41,876 | -€12,062 | -22.4% |
| Taxes | 450/3 | €53,937 | €41,876 | -€12,062 | -22.4% |
| Other amounts payable | 47/48 | €3,868 | €17,709 | +€13,841 | +358% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,884 | €31,623 | -€261 | -0.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€4,000 | -€4,000 | = | 0.0% |
| Other operating charges | 640/8 | €4,616 | €4,067 | -€549 | -11.9% |
| Gross operating margin | 9900 | €156,869 | €85,647 | -€71,222 | -45.4% |
| Operating profit (loss) | 9901 | €124,369 | €53,957 | -€70,412 | -56.6% |
| Financial income | 75/76B | €12,708 | €864 | -€11,844 | -93.2% |
| Recurring financial income | 75 | €12,708 | €864 | -€11,844 | -93.2% |
| Financial charges | 65/66B | €1,939 | €1,598 | -€341 | -17.6% |
| Recurring financial charges | 65 | €1,939 | €1,598 | -€341 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €135,138 | €53,223 | -€81,916 | -60.6% |
| Income taxes | 67/77 | €39,456 | €10,029 | -€29,427 | -74.6% |
| Profit (loss) for the period | 9904 | €95,682 | €43,194 | -€52,489 | -54.9% |
| Profit (loss) for the period to be appropriated | 9905 | €95,682 | €43,194 | -€52,489 | -54.9% |
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 26 October 2026 via checked.be.