I & L: 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.
I & L
Largest movements
- Tangible fixed assets -€18,796
down €18,796 (-58.4%), from €32,169 to €13,373
- Receivables within one year +€13,027
up €13,027 (+10.9%), from €119,184 to €132,211
- Cash +€4,030
up €4,030 (+3.6%), from €111,827 to €115,858
mainly Depreciation (+€18,796) and Net result for the year (+€8,422)
- Reserves +€8,422
up €8,422 (+4.7%), from €181,066 to €189,488
of which Distributable reserves: +€10,909
- Debts after one year -€7,600
no longer reported in 2025 (was €7,600)
- Gross operating margin -€659
down €659 (-1.7%), from €37,815 to €37,156
- Financial income +€522
up €522 (+11.9%), from €4,389 to €4,911
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 | €266,830 | €263,924 | -€2,906 | -1.1% |
| Fixed assets | 21/28 | €32,725 | €13,373 | -€19,352 | -59.1% |
| Tangible fixed assets | 22/27 | €32,169 | €13,373 | -€18,796 | -58.4% |
| Land and buildings | 22 | €32,169 | €13,373 | -€18,796 | -58.4% |
| Financial fixed assets | 28 | €556 | - | -€556 | |
| Current assets | 29/58 | €234,105 | €250,551 | +€16,446 | +7.0% |
| Amounts receivable within one year | 40/41 | €119,184 | €132,211 | +€13,027 | +10.9% |
| Other amounts receivable | 41 | €119,184 | €132,211 | +€13,027 | +10.9% |
| Cash at bank and in hand | 54/58 | €111,827 | €115,858 | +€4,030 | +3.6% |
| Deferred charges and accrued income | 490/1 | €3,093 | €2,482 | -€611 | -19.8% |
| Total equity and liabilities | 10/49 | €266,830 | €263,924 | -€2,906 | -1.1% |
| Equity | 10/15 | €242,566 | €250,988 | +€8,422 | +3.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €181,066 | €189,488 | +€8,422 | +4.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,488 | - | -€2,488 | |
| Distributable reserves | 133 | €172,428 | €183,338 | +€10,909 | +6.3% |
| Provisions and deferred taxes | 16 | €829 | - | -€829 | |
| Deferred taxes | 168 | €829 | - | -€829 | |
| Amounts payable | 17/49 | €23,434 | €12,936 | -€10,499 | -44.8% |
| Amounts payable after more than one year | 17 | €7,600 | - | -€7,600 | |
| Financial debts | 170/4 | €7,600 | - | -€7,600 | |
| Amounts payable within one year | 42/48 | €12,171 | €9,786 | -€2,385 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €9,985 | €7,600 | -€2,385 | -23.9% |
| Trade debts | 44 | €1,790 | €1,729 | -€62 | -3.4% |
| Suppliers | 440/4 | €1,790 | €1,729 | -€62 | -3.4% |
| Taxes, remuneration and social security | 45 | €163 | €224 | +€61 | +37.6% |
| Taxes | 450/3 | €163 | €224 | +€61 | +37.6% |
| Other amounts payable | 47/48 | €234 | €234 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,663 | €3,150 | -€513 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,796 | €18,796 | +€0 | 0.0% |
| Other operating charges | 640/8 | €9,818 | €10,182 | +€363 | +3.7% |
| Gross operating margin | 9900 | €37,815 | €37,156 | -€659 | -1.7% |
| Operating profit (loss) | 9901 | €9,200 | €8,178 | -€1,022 | -11.1% |
| Financial income | 75/76B | €4,389 | €4,911 | +€522 | +11.9% |
| Recurring financial income | 75 | €4,389 | €4,911 | +€522 | +11.9% |
| Financial charges | 65/66B | €746 | €405 | -€341 | -45.7% |
| Recurring financial charges | 65 | €746 | €405 | -€341 | -45.7% |
| Profit (loss) for the period before taxes | 9903 | €12,843 | €12,684 | -€160 | -1.2% |
| Transfer from deferred taxes | 780 | €829 | €829 | -€0 | 0.0% |
| Income taxes | 67/77 | €5,197 | €5,091 | -€106 | -2.0% |
| Profit (loss) for the period | 9904 | €8,476 | €8,422 | -€54 | -0.6% |
| Transfer from tax-exempt reserves | 789 | €2,488 | €2,488 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,963 | €10,909 | -€54 | -0.5% |
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 6 October 2026 via checked.be.