GN & S: 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.
GN & S
Largest movements
- Cash +€233,732
up €233,732 (+360.9%), from €64,769 to €298,500
mainly Current investments (+€200,000) and Net result for the year (+€25,599)
- Current investments -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Receivables within one year -€7,065
down €7,065 (-52.3%), from €13,508 to €6,443
of which Trade receivables: -€4,273
- Reserves +€23,739
up €23,739 (+11.9%), from €198,929 to €222,668
- Financial income +€3,803
new in 2025: €3,803
- Gross operating margin -€1,901
down €1,901 (-5.1%), from €37,425 to €35,525
- Taxes +€741
up €741 (+6.2%), from €11,979 to €12,719
- Depreciation -€378
down €378 (-97.6%), from €387 to €9
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 | €280,612 | €306,488 | +€25,875 | +9.2% |
| Fixed assets | 21/28 | €9 | €0 | -€9 | -100.0% |
| Tangible fixed assets | 22/27 | €9 | €0 | -€9 | -100.0% |
| Plant, machinery and equipment | 23 | €9 | €0 | -€9 | -100.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €280,603 | €306,488 | +€25,885 | +9.2% |
| Amounts receivable within one year | 40/41 | €13,508 | €6,443 | -€7,065 | -52.3% |
| Trade receivables | 40 | €4,273 | €0 | -€4,273 | -100.0% |
| Other amounts receivable | 41 | €9,235 | €6,443 | -€2,792 | -30.2% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €64,769 | €298,500 | +€233,732 | +360.9% |
| Deferred charges and accrued income | 490/1 | €2,327 | €1,544 | -€782 | -33.6% |
| Total equity and liabilities | 10/49 | €280,612 | €306,488 | +€25,875 | +9.2% |
| Equity | 10/15 | €211,535 | €235,274 | +€23,739 | +11.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €198,929 | €222,668 | +€23,739 | +11.9% |
| Distributable reserves | 133 | €198,929 | €222,668 | +€23,739 | +11.9% |
| Profit (loss) carried forward | 14 | €206 | €206 | = | 0.0% |
| Amounts payable | 17/49 | €69,077 | €71,213 | +€2,136 | +3.1% |
| Amounts payable within one year | 42/48 | €69,077 | €71,213 | +€2,136 | +3.1% |
| Trade debts | 44 | €0 | €0 | = | |
| Suppliers | 440/4 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €2,400 | €2,560 | +€160 | +6.7% |
| Taxes | 450/3 | €2,400 | €2,560 | +€160 | +6.7% |
| Other amounts payable | 47/48 | €66,678 | €68,654 | +€1,976 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €387 | €9 | -€378 | -97.6% |
| Other operating charges | 640/8 | €993 | €931 | -€62 | -6.3% |
| Gross operating margin | 9900 | €37,425 | €35,525 | -€1,901 | -5.1% |
| Operating profit (loss) | 9901 | €36,045 | €34,584 | -€1,461 | -4.1% |
| Financial income | 75/76B | - | €3,803 | +€3,803 | |
| Recurring financial income | 75 | - | €3,803 | +€3,803 | |
| Financial charges | 65/66B | €68 | €69 | +€1 | +2.2% |
| Recurring financial charges | 65 | €68 | €69 | +€1 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €35,977 | €38,318 | +€2,341 | +6.5% |
| Income taxes | 67/77 | €11,979 | €12,719 | +€741 | +6.2% |
| Profit (loss) for the period | 9904 | €23,999 | €25,599 | +€1,601 | +6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,999 | €25,599 | +€1,601 | +6.7% |
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 7 October 2026 via checked.be.