June 21: 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.
June 21
Largest movements
- Receivables within one year +€48,484
up €48,484 (+106%), from €45,580 to €94,064
of which Other amounts receivable: +€38,686
- Current investments -€21,597
down €21,597 (-77.4%), from €27,902 to €6,305
- Tangible fixed assets +€8,908
up €8,908 (+4.3%), from €206,116 to €215,024
of which Furniture and vehicles: +€17,241
- Cash +€4,574
up €4,574 (+5.1%), from €88,846 to €93,420
mainly Net result for the year (+€69,968) and Other debts (+€63,181)
- Other debts +€63,181
up €63,181 (+931%), from €6,786 to €69,968
- Debts after one year -€8,316
down €8,316 (-5.7%), from €145,335 to €137,019
- Reserves -€7,060
down €7,060 (-3.9%), from €182,640 to €175,580
of which Distributable reserves: -€7,060
- Trade debts -€5,023
down €5,023 (-19.0%), from €26,497 to €21,474
- Tax, wage and social debts -€4,468
down €4,468 (-56.5%), from €7,906 to €3,438
- Gross operating margin -€72,377
down €72,377 (-40.1%), from €180,355 to €107,978
- Taxes -€18,851
down €18,851 (-49.3%), from €38,272 to €19,422
- Depreciation +€2,810
up €2,810 (+26.3%), from €10,683 to €13,494
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 | €396,158 | €434,408 | +€38,250 | +9.7% |
| Fixed assets | 21/28 | €226,116 | €235,024 | +€8,908 | +3.9% |
| Tangible fixed assets | 22/27 | €206,116 | €215,024 | +€8,908 | +4.3% |
| Plant, machinery and equipment | 23 | €2,194 | €774 | -€1,420 | -64.7% |
| Furniture and vehicles | 24 | - | €17,241 | +€17,241 | |
| Other tangible fixed assets | 26 | €203,922 | €197,009 | -€6,913 | -3.4% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €170,042 | €199,384 | +€29,343 | +17.3% |
| Amounts receivable within one year | 40/41 | €45,580 | €94,064 | +€48,484 | +106% |
| Trade receivables | 40 | €44,841 | €54,638 | +€9,798 | +21.8% |
| Other amounts receivable | 41 | €739 | €39,426 | +€38,686 | +5,232% |
| Current investments | 50/53 | €27,902 | €6,305 | -€21,597 | -77.4% |
| Cash at bank and in hand | 54/58 | €88,846 | €93,420 | +€4,574 | +5.1% |
| Deferred charges and accrued income | 490/1 | €7,713 | €5,595 | -€2,118 | -27.5% |
| Total equity and liabilities | 10/49 | €396,158 | €434,408 | +€38,250 | +9.7% |
| Equity | 10/15 | €201,190 | €194,130 | -€7,060 | -3.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €182,640 | €175,580 | -€7,060 | -3.9% |
| Tax-exempt reserves | 132 | €1,634 | €1,634 | = | 0.0% |
| Distributable reserves | 133 | €181,006 | €173,946 | -€7,060 | -3.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €194,968 | €240,278 | +€45,310 | +23.2% |
| Amounts payable after more than one year | 17 | €145,335 | €137,019 | -€8,316 | -5.7% |
| Financial debts | 170/4 | €145,335 | €137,019 | -€8,316 | -5.7% |
| Amounts payable within one year | 42/48 | €49,632 | €103,258 | +€53,626 | +108% |
| Current portion of amounts payable after more than one year | 42 | €8,195 | €8,316 | +€121 | +1.5% |
| Financial debts | 43 | €248 | €63 | -€185 | -74.6% |
| Credit institutions | 430/8 | €248 | €63 | -€185 | -74.6% |
| Trade debts | 44 | €26,497 | €21,474 | -€5,023 | -19.0% |
| Suppliers | 440/4 | €26,497 | €21,474 | -€5,023 | -19.0% |
| Taxes, remuneration and social security | 45 | €7,906 | €3,438 | -€4,468 | -56.5% |
| Taxes | 450/3 | €7,906 | €3,438 | -€4,468 | -56.5% |
| Other amounts payable | 47/48 | €6,786 | €69,968 | +€63,181 | +931% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,683 | €13,494 | +€2,810 | +26.3% |
| Other operating charges | 640/8 | €1,860 | €2,556 | +€696 | +37.4% |
| Non-recurring operating charges | 66A | - | €625 | +€625 | |
| Gross operating margin | 9900 | €180,355 | €107,978 | -€72,377 | -40.1% |
| Operating profit (loss) | 9901 | €167,812 | €91,303 | -€76,509 | -45.6% |
| Financial income | 75/76B | €2,202 | €2,169 | -€33 | -1.5% |
| Recurring financial income | 75 | €2,202 | €2,169 | -€33 | -1.5% |
| Financial charges | 65/66B | €3,905 | €4,082 | +€178 | +4.6% |
| Recurring financial charges | 65 | €3,905 | €4,082 | +€178 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €166,109 | €89,389 | -€76,720 | -46.2% |
| Income taxes | 67/77 | €38,272 | €19,422 | -€18,851 | -49.3% |
| Profit (loss) for the period | 9904 | €127,836 | €69,968 | -€57,869 | -45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €127,836 | €69,968 | -€57,869 | -45.3% |
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 17 October 2026 via checked.be.