HOME: 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.
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Largest movements
- Current investments +€24,158
up €24,158 (+3.8%), from €641,741 to €665,899
- Reserves +€41,006
up €41,006 (+5.7%), from €723,662 to €764,668
of which Distributable reserves: +€41,833
- Other debts -€23,780
down €23,780 (-26.2%), from €90,595 to €66,815
- Gross operating margin -€242,486
down €242,486 (-82.0%), from €295,592 to €53,106
- Taxes -€74,867
down €74,867 (-85.6%), from €87,425 to €12,559
- Financial income +€6,155
up €6,155 (+37.3%), from €16,483 to €22,637
- Other operating charges -€5,103
down €5,103 (-38.1%), from €13,396 to €8,294
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,299,698 | €1,318,730 | +€19,032 | +1.5% |
| Fixed assets | 21/28 | €632,916 | €633,985 | +€1,069 | +0.2% |
| Tangible fixed assets | 22/27 | €632,916 | €633,985 | +€1,069 | +0.2% |
| Land and buildings | 22 | €632,381 | €633,620 | +€1,239 | +0.2% |
| Plant, machinery and equipment | 23 | €535 | €365 | -€170 | -31.8% |
| Current assets | 29/58 | €666,782 | €684,745 | +€17,963 | +2.7% |
| Amounts receivable within one year | 40/41 | - | €1,288 | +€1,288 | |
| Other amounts receivable | 41 | - | €1,288 | +€1,288 | |
| Current investments | 50/53 | €641,741 | €665,899 | +€24,158 | +3.8% |
| Cash at bank and in hand | 54/58 | €25,041 | €16,336 | -€8,705 | -34.8% |
| Deferred charges and accrued income | 490/1 | - | €1,221 | +€1,221 | |
| Total equity and liabilities | 10/49 | €1,299,698 | €1,318,730 | +€19,032 | +1.5% |
| Equity | 10/15 | €1,194,660 | €1,235,666 | +€41,006 | +3.4% |
| Contributions | 10/11 | €470,998 | €470,998 | = | 0.0% |
| Capital | 10 | €470,998 | €470,998 | = | 0.0% |
| Issued capital | 100 | €470,998 | €470,998 | = | 0.0% |
| Reserves | 13 | €723,662 | €764,668 | +€41,006 | +5.7% |
| Non-distributable reserves | 130/1 | €47,100 | €47,100 | = | 0.0% |
| Legal reserve | 130 | €47,100 | €47,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,736 | €1,909 | -€827 | -30.2% |
| Distributable reserves | 133 | €673,826 | €715,659 | +€41,833 | +6.2% |
| Provisions and deferred taxes | 16 | €1,824 | €1,273 | -€551 | -30.2% |
| Deferred taxes | 168 | €1,824 | €1,273 | -€551 | -30.2% |
| Amounts payable | 17/49 | €103,213 | €81,791 | -€21,422 | -20.8% |
| Amounts payable within one year | 42/48 | €103,213 | €81,791 | -€21,422 | -20.8% |
| Trade debts | 44 | €3,933 | - | -€3,933 | |
| Suppliers | 440/4 | €3,933 | - | -€3,933 | |
| Taxes, remuneration and social security | 45 | €8,686 | €14,976 | +€6,290 | +72.4% |
| Taxes | 450/3 | €8,686 | €14,976 | +€6,290 | +72.4% |
| Other amounts payable | 47/48 | €90,595 | €66,815 | -€23,780 | -26.2% |
| Non-recurring operating income | 76A | €245,714 | - | -€245,714 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,062 | €3,993 | -€1,069 | -21.1% |
| Other operating charges | 640/8 | €13,396 | €8,294 | -€5,103 | -38.1% |
| Gross operating margin | 9900 | €295,592 | €53,106 | -€242,486 | -82.0% |
| Operating profit (loss) | 9901 | €277,133 | €40,819 | -€236,314 | -85.3% |
| Financial income | 75/76B | €16,483 | €22,637 | +€6,155 | +37.3% |
| Recurring financial income | 75 | €16,483 | €22,637 | +€6,155 | +37.3% |
| Financial charges | 65/66B | €9,966 | €10,444 | +€478 | +4.8% |
| Recurring financial charges | 65 | €9,966 | €10,444 | +€478 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €283,650 | €53,013 | -€230,637 | -81.3% |
| Transfer from deferred taxes | 780 | €551 | €551 | = | 0.0% |
| Income taxes | 67/77 | €87,425 | €12,559 | -€74,867 | -85.6% |
| Profit (loss) for the period | 9904 | €196,776 | €41,006 | -€155,770 | -79.2% |
| Transfer from tax-exempt reserves | 789 | €827 | €827 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €197,603 | €41,833 | -€155,770 | -78.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.