KEY- CONSULT: 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.
KEY- CONSULT
Largest movements
- Current investments +€184,025
up €184,025 (+31.2%), from €589,685 to €773,710
- Receivables within one year -€24,084
down €24,084 (-21.6%), from €111,554 to €87,470
of which Trade receivables: -€38,345
- Cash -€18,812
down €18,812 (-23.9%), from €78,715 to €59,904
mainly Current investments (-€184,025) and Tax, wage and social debts (-€2,862)
- Tangible fixed assets -€17,495
down €17,495 (-23.8%), from €73,475 to €55,980
of which Furniture and vehicles: -€11,432
- Reserves +€111,095
up €111,095 (+14.3%), from €778,695 to €889,790
of which Distributable reserves: +€111,095
- Trade debts +€12,679
up €12,679 (+203.1%), from €6,243 to €18,922
- Gross operating margin -€131,846
down €131,846 (-43.8%), from €301,074 to €169,228
- Taxes -€52,480
down €52,480 (-47.6%), from €110,345 to €57,865
- Financial income -€45,469
down €45,469 (-70.5%), from €64,497 to €19,028
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 | €861,383 | €980,801 | +€119,417 | +13.9% |
| Fixed assets | 21/28 | €74,700 | €57,205 | -€17,495 | -23.4% |
| Tangible fixed assets | 22/27 | €73,475 | €55,980 | -€17,495 | -23.8% |
| Plant, machinery and equipment | 23 | €3,215 | €2,434 | -€781 | -24.3% |
| Furniture and vehicles | 24 | €47,249 | €35,817 | -€11,432 | -24.2% |
| Other tangible fixed assets | 26 | €23,011 | €17,729 | -€5,282 | -23.0% |
| Financial fixed assets | 28 | €1,225 | €1,225 | = | 0.0% |
| Current assets | 29/58 | €786,684 | €923,596 | +€136,913 | +17.4% |
| Amounts receivable within one year | 40/41 | €111,554 | €87,470 | -€24,084 | -21.6% |
| Trade receivables | 40 | €98,724 | €60,379 | -€38,345 | -38.8% |
| Other amounts receivable | 41 | €12,830 | €27,091 | +€14,261 | +111.2% |
| Current investments | 50/53 | €589,685 | €773,710 | +€184,025 | +31.2% |
| Cash at bank and in hand | 54/58 | €78,715 | €59,904 | -€18,812 | -23.9% |
| Deferred charges and accrued income | 490/1 | €6,729 | €2,513 | -€4,217 | -62.7% |
| Total equity and liabilities | 10/49 | €861,383 | €980,801 | +€119,417 | +13.9% |
| Equity | 10/15 | €794,188 | €905,283 | +€111,095 | +14.0% |
| Contributions | 10/11 | €15,493 | €15,493 | = | 0.0% |
| Reserves | 13 | €778,695 | €889,790 | +€111,095 | +14.3% |
| Non-distributable reserves | 130/1 | €3,273 | €3,273 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,273 | €3,273 | = | 0.0% |
| Distributable reserves | 133 | €775,422 | €886,517 | +€111,095 | +14.3% |
| Amounts payable | 17/49 | €67,195 | €75,517 | +€8,322 | +12.4% |
| Amounts payable within one year | 42/48 | €65,325 | €73,244 | +€7,919 | +12.1% |
| Trade debts | 44 | €6,243 | €18,922 | +€12,679 | +203.1% |
| Suppliers | 440/4 | €6,243 | €18,922 | +€12,679 | +203.1% |
| Taxes, remuneration and social security | 45 | €47,439 | €44,577 | -€2,862 | -6.0% |
| Taxes | 450/3 | €47,439 | €44,577 | -€2,862 | -6.0% |
| Other amounts payable | 47/48 | €11,643 | €9,745 | -€1,898 | -16.3% |
| Accrued charges and deferred income | 492/3 | €1,870 | €2,273 | +€403 | +21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,610 | €18,869 | -€742 | -3.8% |
| Other operating charges | 640/8 | €373 | €183 | -€190 | -50.9% |
| Gross operating margin | 9900 | €301,074 | €169,228 | -€131,846 | -43.8% |
| Operating profit (loss) | 9901 | €281,091 | €150,176 | -€130,914 | -46.6% |
| Financial income | 75/76B | €64,497 | €19,028 | -€45,469 | -70.5% |
| Recurring financial income | 75 | €64,497 | €19,028 | -€45,469 | -70.5% |
| Financial charges | 65/66B | €566 | €243 | -€322 | -57.0% |
| Recurring financial charges | 65 | €566 | €243 | -€322 | -57.0% |
| Profit (loss) for the period before taxes | 9903 | €345,022 | €168,961 | -€176,061 | -51.0% |
| Income taxes | 67/77 | €110,345 | €57,865 | -€52,480 | -47.6% |
| Profit (loss) for the period | 9904 | €234,677 | €111,095 | -€123,581 | -52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €234,677 | €111,095 | -€123,581 | -52.7% |
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 5 October 2026 via checked.be.