INSIGHT & TRANSFORMATION: 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.
INSIGHT & TRANSFORMATION
Largest movements
- Current investments +€50,500
up €50,500 (+72.1%), from €70,000 to €120,500
- Cash -€24,806
down €24,806 (-12.8%), from €194,511 to €169,706
mainly Current investments (-€50,500) and Contributions, distributions and other (-€39,143)
- Receivables within one year -€23,439
down €23,439 (-57.0%), from €41,096 to €17,658
- Reserves +€10,512
up €10,512 (+3.9%), from €270,477 to €280,989
of which Distributable reserves: +€10,512
- Tax, wage and social debts -€9,300
down €9,300 (-30.0%), from €31,038 to €21,737
- Gross operating margin -€14,804
down €14,804 (-19.4%), from €76,329 to €61,525
- Financial income +€6,758
up €6,758 (+1,027%), from €658 to €7,416
of which Financial income: +€6,680
- Taxes -€3,658
down €3,658 (-16.8%), from €21,793 to €18,136
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 | €305,892 | €309,505 | +€3,614 | +1.2% |
| Fixed assets | 21/28 | €284 | €1,642 | +€1,358 | +478% |
| Tangible fixed assets | 22/27 | €284 | €1,642 | +€1,358 | +478% |
| Plant, machinery and equipment | 23 | €284 | €1,642 | +€1,358 | +478% |
| Current assets | 29/58 | €305,608 | €307,864 | +€2,256 | +0.7% |
| Amounts receivable within one year | 40/41 | €41,096 | €17,658 | -€23,439 | -57.0% |
| Trade receivables | 40 | €41,096 | €17,658 | -€23,439 | -57.0% |
| Current investments | 50/53 | €70,000 | €120,500 | +€50,500 | +72.1% |
| Cash at bank and in hand | 54/58 | €194,511 | €169,706 | -€24,806 | -12.8% |
| Total equity and liabilities | 10/49 | €305,892 | €309,505 | +€3,614 | +1.2% |
| Equity | 10/15 | €270,477 | €280,989 | +€10,512 | +3.9% |
| Reserves | 13 | €270,477 | €280,989 | +€10,512 | +3.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €268,617 | €279,129 | +€10,512 | +3.9% |
| Amounts payable | 17/49 | €35,414 | €28,517 | -€6,898 | -19.5% |
| Amounts payable within one year | 42/48 | €35,414 | €28,517 | -€6,898 | -19.5% |
| Trade debts | 44 | €105 | €1,142 | +€1,037 | +987% |
| Suppliers | 440/4 | €105 | €1,142 | +€1,037 | +987% |
| Taxes, remuneration and social security | 45 | €31,038 | €21,737 | -€9,300 | -30.0% |
| Taxes | 450/3 | €31,038 | €21,737 | -€9,300 | -30.0% |
| Other amounts payable | 47/48 | €4,272 | €5,637 | +€1,366 | +32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €589 | €1,005 | +€416 | +70.6% |
| Gross operating margin | 9900 | €76,329 | €61,525 | -€14,804 | -19.4% |
| Operating profit (loss) | 9901 | €75,740 | €60,520 | -€15,220 | -20.1% |
| Financial income | 75/76B | €658 | €7,416 | +€6,758 | +1,027% |
| Recurring financial income | 75 | €658 | €7,338 | +€6,680 | +1,015% |
| Non-recurring financial income | 76B | - | €78 | +€78 | |
| Financial charges | 65/66B | €250 | €146 | -€104 | -41.6% |
| Recurring financial charges | 65 | €250 | €146 | -€104 | -41.6% |
| Profit (loss) for the period before taxes | 9903 | €76,148 | €67,790 | -€8,358 | -11.0% |
| Income taxes | 67/77 | €21,793 | €18,136 | -€3,658 | -16.8% |
| Profit (loss) for the period | 9904 | €54,354 | €49,654 | -€4,700 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €54,354 | €49,654 | -€4,700 | -8.6% |
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 13 October 2026 via checked.be.