FX PULSE: 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.
FX PULSE
Largest movements
- Cash -€6,249
down €6,249 (-3.8%), from €163,364 to €157,115
mainly Contributions, distributions and other (-€30,000) and Investment in fixed assets (net) (-€6,600)
- Reserves -€3,483
down €3,483 (-1.7%), from €202,220 to €198,737
- Gross operating margin +€29,649
up €29,649 (+220.0%), from €13,476 to €43,125
- Taxes +€7,607
up €7,607 (+192.3%), from €3,956 to €11,563
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 | €217,304 | €215,092 | -€2,212 | -1.0% |
| Fixed assets | 21/28 | €13,479 | €15,560 | +€2,081 | +15.4% |
| Tangible fixed assets | 22/27 | €13,479 | €15,560 | +€2,081 | +15.4% |
| Land and buildings | 22 | €7,038 | €5,328 | -€1,710 | -24.3% |
| Plant, machinery and equipment | 23 | €692 | - | -€692 | |
| Furniture and vehicles | 24 | €5,749 | €10,232 | +€4,483 | +78.0% |
| Current assets | 29/58 | €203,825 | €199,532 | -€4,293 | -2.1% |
| Amounts receivable within one year | 40/41 | €40,461 | €42,417 | +€1,956 | +4.8% |
| Trade receivables | 40 | €31,230 | €23,471 | -€7,759 | -24.8% |
| Other amounts receivable | 41 | €9,231 | €18,946 | +€9,715 | +105.2% |
| Cash at bank and in hand | 54/58 | €163,364 | €157,115 | -€6,249 | -3.8% |
| Total equity and liabilities | 10/49 | €217,304 | €215,092 | -€2,212 | -1.0% |
| Equity | 10/15 | €202,220 | €198,737 | -€3,483 | -1.7% |
| Reserves | 13 | €202,220 | €198,737 | -€3,483 | -1.7% |
| Distributable reserves | 133 | €202,220 | €198,737 | -€3,483 | -1.7% |
| Amounts payable | 17/49 | €15,084 | €16,355 | +€1,271 | +8.4% |
| Amounts payable within one year | 42/48 | €15,084 | €16,355 | +€1,271 | +8.4% |
| Trade debts | 44 | €1,245 | €2,102 | +€857 | +68.8% |
| Suppliers | 440/4 | €1,245 | €2,102 | +€857 | +68.8% |
| Taxes, remuneration and social security | 45 | €13,839 | €14,253 | +€414 | +3.0% |
| Taxes | 450/3 | €11,339 | €11,753 | +€414 | +3.7% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,223 | €4,519 | +€296 | +7.0% |
| Other operating charges | 640/8 | €528 | €376 | -€152 | -28.8% |
| Gross operating margin | 9900 | €13,476 | €43,125 | +€29,649 | +220.0% |
| Operating profit (loss) | 9901 | €8,725 | €38,230 | +€29,505 | +338.2% |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €8,590 | €38,080 | +€29,490 | +343.3% |
| Income taxes | 67/77 | €3,956 | €11,563 | +€7,607 | +192.3% |
| Profit (loss) for the period | 9904 | €4,634 | €26,517 | +€21,883 | +472.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,634 | €26,517 | +€21,883 | +472.2% |
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 9 October 2026 via checked.be.