GENERAL MANAGEMENT: what changed
Two fiscal 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.
GENERAL MANAGEMENT
Largest movements
- Cash +€13,637
up €13,637 (+43.4%), from €31,388 to €45,025
mainly Net result for the year (+€9,463) and Depreciation (+€5,191)
- Tangible fixed assets -€5,191
down €5,191 (-16.2%), from €31,980 to €26,790
- Reserves +€9,463
up €9,463 (+24.5%), from €38,684 to €48,146
- Other debts -€3,995
down €3,995 (-80.7%), from €4,947 to €952
- Trade debts +€2,338
up €2,338 (+693.0%), from €337 to €2,676
- Gross operating margin +€3,375
up €3,375 (+18.9%), from €17,883 to €21,258
- Taxes +€1,411
up €1,411 (+42.6%), from €3,309 to €4,720
- Depreciation -€653
down €653 (-11.2%), from €5,844 to €5,191
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 | €63,368 | €71,814 | +€8,446 | +13.3% |
| Fixed assets | 21/28 | €31,980 | €26,790 | -€5,191 | -16.2% |
| Tangible fixed assets | 22/27 | €31,980 | €26,790 | -€5,191 | -16.2% |
| Land and buildings | 22 | €31,980 | €26,790 | -€5,191 | -16.2% |
| Current assets | 29/58 | €31,388 | €45,025 | +€13,637 | +43.4% |
| Cash at bank and in hand | 54/58 | €31,388 | €45,025 | +€13,637 | +43.4% |
| Total equity and liabilities | 10/49 | €63,368 | €71,814 | +€8,446 | +13.3% |
| Equity | 10/15 | €57,284 | €66,746 | +€9,463 | +16.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €38,684 | €48,146 | +€9,463 | +24.5% |
| Distributable reserves | 133 | €38,684 | €48,146 | +€9,463 | +24.5% |
| Amounts payable | 17/49 | €6,085 | €5,068 | -€1,017 | -16.7% |
| Amounts payable within one year | 42/48 | €6,085 | €5,068 | -€1,017 | -16.7% |
| Trade debts | 44 | €337 | €2,676 | +€2,338 | +693.0% |
| Suppliers | 440/4 | €337 | €2,676 | +€2,338 | +693.0% |
| Taxes, remuneration and social security | 45 | €800 | €1,440 | +€640 | +80.0% |
| Taxes | 450/3 | €800 | €1,440 | +€640 | +80.0% |
| Other amounts payable | 47/48 | €4,947 | €952 | -€3,995 | -80.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,844 | €5,191 | -€653 | -11.2% |
| Other operating charges | 640/8 | €2,015 | €2,077 | +€62 | +3.1% |
| Gross operating margin | 9900 | €17,883 | €21,258 | +€3,375 | +18.9% |
| Operating profit (loss) | 9901 | €10,025 | €13,991 | +€3,966 | +39.6% |
| Financial income | 75/76B | €24 | €222 | +€198 | +829.5% |
| Recurring financial income | 75 | €24 | €222 | +€198 | +829.5% |
| Financial charges | 65/66B | €29 | €30 | +€1 | +5.0% |
| Recurring financial charges | 65 | €29 | €30 | +€1 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €10,020 | €14,183 | +€4,163 | +41.5% |
| Income taxes | 67/77 | €3,309 | €4,720 | +€1,411 | +42.6% |
| Profit (loss) for the period | 9904 | €6,711 | €9,463 | +€2,752 | +41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,711 | €9,463 | +€2,752 | +41.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.