HOLDING SINCE 1789: 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.
HOLDING SINCE 1789
Largest movements
- Receivables within one year -€222,553
down €222,553 (-10.3%), from €2.2m to €1.9m
- Deferred charges and accrued income -€129,185
down €129,185 (-57.1%), from €226,281 to €97,096
- Debts after one year -€364,174
down €364,174 (-12.0%), from €3.0m to €2.7m
- Financial charges -€958,988
down €958,988 (-99.9%), from €960,065 to €1,077
of which Non-recurring financial charges: -€949,230
- Financial income -€894,147
down €894,147 (-95.5%), from €936,749 to €42,602
of which Non-recurring financial income: -€776,406
- Gross operating margin -€11,584
down €11,584 (-76.2%), from -€15,211 to -€26,795
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 | €2,706,980 | €2,348,926 | -€358,053 | -13.2% |
| Fixed assets | 21/28 | €208,749 | €208,749 | = | 0.0% |
| Financial fixed assets | 28 | €208,749 | €208,749 | = | 0.0% |
| Current assets | 29/58 | €2,498,230 | €2,140,177 | -€358,053 | -14.3% |
| Stocks and contracts in progress | 3 | €114,598 | €114,598 | = | 0.0% |
| Stocks | 30/36 | €114,598 | €114,598 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,150,822 | €1,928,270 | -€222,553 | -10.3% |
| Other amounts receivable | 41 | €2,150,822 | €1,928,270 | -€222,553 | -10.3% |
| Cash at bank and in hand | 54/58 | €6,529 | €213 | -€6,316 | -96.7% |
| Deferred charges and accrued income | 490/1 | €226,281 | €97,096 | -€129,185 | -57.1% |
| Total equity and liabilities | 10/49 | €2,706,980 | €2,348,926 | -€358,053 | -13.2% |
| Equity | 10/15 | -€609,221 | -€595,609 | +€13,612 | +2.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€629,626 | -€616,014 | +€13,612 | +2.2% |
| Amounts payable | 17/49 | €3,316,201 | €2,944,535 | -€371,665 | -11.2% |
| Amounts payable after more than one year | 17 | €3,031,377 | €2,667,203 | -€364,174 | -12.0% |
| Financial debts | 170/4 | €3,031,377 | €2,667,203 | -€364,174 | -12.0% |
| Amounts payable within one year | 42/48 | €284,824 | €277,333 | -€7,491 | -2.6% |
| Financial debts | 43 | €264,478 | €250,337 | -€14,140 | -5.3% |
| Other loans | 439 | €264,478 | €250,337 | -€14,140 | -5.3% |
| Trade debts | 44 | €982 | €7,630 | +€6,649 | +677% |
| Suppliers | 440/4 | €982 | €7,630 | +€6,649 | +677% |
| Taxes, remuneration and social security | 45 | €2,814 | €2,814 | = | 0.0% |
| Taxes | 450/3 | €2,814 | €2,814 | = | 0.0% |
| Other amounts payable | 47/48 | €16,551 | €16,551 | = | 0.0% |
| Other operating charges | 640/8 | €1,100 | €1,118 | +€19 | +1.7% |
| Gross operating margin | 9900 | -€15,211 | -€26,795 | -€11,584 | -76.2% |
| Operating profit (loss) | 9901 | -€16,310 | -€27,913 | -€11,603 | -71.1% |
| Financial income | 75/76B | €936,749 | €42,602 | -€894,147 | -95.5% |
| Recurring financial income | 75 | €155,092 | €37,351 | -€117,740 | -75.9% |
| Non-recurring financial income | 76B | €781,657 | €5,251 | -€776,406 | -99.3% |
| Financial charges | 65/66B | €960,065 | €1,077 | -€958,988 | -99.9% |
| Recurring financial charges | 65 | €10,835 | €1,077 | -€9,758 | -90.1% |
| Non-recurring financial charges | 66B | €949,230 | - | -€949,230 | |
| Profit (loss) for the period before taxes | 9903 | -€39,626 | €13,612 | +€53,239 | |
| Profit (loss) for the period | 9904 | -€39,626 | €13,612 | +€53,239 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,626 | €13,612 | +€53,239 |
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 28 October 2026 via checked.be.