HIGH LIGHTS: 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.
HIGH LIGHTS
Largest movements
- Cash +€339,393
up €339,393 (+473%), from €71,761 to €411,154
mainly Current investments (+€300,000) and Other debts (+€72,749)
- Current investments -€300,000
no longer reported in 2025 (was €300,000)
- Tangible fixed assets -€19,274
down €19,274 (-6.5%), from €296,725 to €277,451
of which Land and buildings: -€16,925
- Other debts +€72,749
up €72,749 (+1,035%), from €7,030 to €79,779
- Debts after one year -€28,630
down €28,630 (-44.0%), from €65,082 to €36,452
- Reserves -€25,437
down €25,437 (-5.6%), from €454,653 to €429,216
of which Distributable reserves: -€18,000
- Depreciation -€2,996
down €2,996 (-12.5%), from €23,899 to €20,903
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 | €852,114 | €872,555 | +€20,441 | +2.4% |
| Fixed assets | 21/28 | €296,725 | €277,451 | -€19,274 | -6.5% |
| Tangible fixed assets | 22/27 | €296,725 | €277,451 | -€19,274 | -6.5% |
| Land and buildings | 22 | €270,186 | €253,261 | -€16,925 | -6.3% |
| Plant, machinery and equipment | 23 | €20,172 | €16,567 | -€3,605 | -17.9% |
| Furniture and vehicles | 24 | €309 | €1,566 | +€1,257 | +407% |
| Other tangible fixed assets | 26 | €6,058 | €6,058 | = | 0.0% |
| Current assets | 29/58 | €555,389 | €595,104 | +€39,715 | +7.2% |
| Amounts receivable after more than one year | 29 | €167,979 | €167,979 | = | 0.0% |
| Other amounts receivable | 291 | €167,979 | €167,979 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €15,406 | €15,406 | = | 0.0% |
| Trade receivables | 40 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 41 | €406 | €406 | = | 0.0% |
| Current investments | 50/53 | €300,000 | - | -€300,000 | |
| Cash at bank and in hand | 54/58 | €71,761 | €411,154 | +€339,393 | +473% |
| Deferred charges and accrued income | 490/1 | €243 | €565 | +€322 | +132% |
| Total equity and liabilities | 10/49 | €852,114 | €872,555 | +€20,441 | +2.4% |
| Equity | 10/15 | €743,787 | €718,539 | -€25,248 | -3.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €454,653 | €429,216 | -€25,437 | -5.6% |
| Tax-exempt reserves | 132 | €132,793 | €125,356 | -€7,437 | -5.6% |
| Distributable reserves | 133 | €321,860 | €303,860 | -€18,000 | -5.6% |
| Profit (loss) carried forward | 14 | €282,934 | €283,123 | +€189 | +0.1% |
| Amounts payable | 17/49 | €108,327 | €154,016 | +€45,689 | +42.2% |
| Amounts payable after more than one year | 17 | €65,082 | €36,452 | -€28,630 | -44.0% |
| Financial debts | 170/4 | €65,082 | €36,452 | -€28,630 | -44.0% |
| Amounts payable within one year | 42/48 | €43,245 | €117,565 | +€74,319 | +172% |
| Current portion of amounts payable after more than one year | 42 | €28,166 | €28,630 | +€464 | +1.6% |
| Trade debts | 44 | €3,551 | €208 | -€3,343 | -94.1% |
| Suppliers | 440/4 | €3,551 | €208 | -€3,343 | -94.1% |
| Taxes, remuneration and social security | 45 | €4,497 | €8,947 | +€4,450 | +98.9% |
| Taxes | 450/3 | €4,497 | €8,947 | +€4,450 | +98.9% |
| Other amounts payable | 47/48 | €7,030 | €79,779 | +€72,749 | +1,035% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,899 | €20,903 | -€2,996 | -12.5% |
| Other operating charges | 640/8 | €3,162 | €3,001 | -€160 | -5.1% |
| Gross operating margin | 9900 | €86,289 | €87,012 | +€722 | +0.8% |
| Operating profit (loss) | 9901 | €59,229 | €63,108 | +€3,878 | +6.5% |
| Financial income | 75/76B | €16,374 | €15,619 | -€755 | -4.6% |
| Recurring financial income | 75 | €16,374 | €15,619 | -€755 | -4.6% |
| Financial charges | 65/66B | €5,014 | €4,792 | -€222 | -4.4% |
| Recurring financial charges | 65 | €5,014 | €4,792 | -€222 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €70,589 | €73,935 | +€3,346 | +4.7% |
| Income taxes | 67/77 | €22,645 | €23,183 | +€537 | +2.4% |
| Profit (loss) for the period | 9904 | €47,944 | €50,752 | +€2,808 | +5.9% |
| Transfer from tax-exempt reserves | 789 | €7,437 | €7,437 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €55,381 | €58,189 | +€2,808 | +5.1% |
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 19 October 2026 via checked.be.