KEY CONSULTANT: 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.
KEY CONSULTANT
Largest movements
- Deferred charges and accrued income -€24,874
down €24,874 (-62.4%), from €39,856 to €14,982
- Current investments +€20,539
up €20,539 (+13.4%), from €153,104 to €173,643
- Tangible fixed assets +€15,465
up €15,465 (+127%), from €12,207 to €27,673
of which Furniture and vehicles: +€13,767
- Cash -€14,603
down €14,603 (-36.3%), from €40,200 to €25,597
mainly Current investments (-€20,539) and Investment in fixed assets (net) (-€19,861)
- Receivables within one year +€6,534
up €6,534 (+8.4%), from €77,527 to €84,061
of which Other amounts receivable: +€7,018
- Reserves +€20,265
up €20,265 (+8.5%), from €238,370 to €258,635
- Current portion of long-term debt -€12,847
down €12,847 (-100%), from €12,847 to €0
- Trade debts -€7,037
down €7,037 (-95.4%), from €7,374 to €337
- Gross operating margin +€24,339
up €24,339 (+128%), from €19,023 to €43,362
- Financial income -€16,287
down €16,287 (-75.5%), from €21,563 to €5,276
of which Non-recurring financial income: -€18,877
- Taxes +€8,699
up €8,699 (+162%), from €5,370 to €14,069
- Financial charges -€2,340
down €2,340 (-25.6%), from €9,131 to €6,791
- Depreciation -€582
down €582 (-11.7%), from €4,978 to €4,396
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 | €329,317 | €326,454 | -€2,863 | -0.9% |
| Fixed assets | 21/28 | €12,207 | €27,673 | +€15,465 | +127% |
| Tangible fixed assets | 22/27 | €12,207 | €27,673 | +€15,465 | +127% |
| Plant, machinery and equipment | 23 | €8,549 | €10,417 | +€1,868 | +21.8% |
| Furniture and vehicles | 24 | €3,399 | €17,166 | +€13,767 | +405% |
| Other tangible fixed assets | 26 | €259 | €90 | -€169 | -65.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €317,109 | €298,781 | -€18,328 | -5.8% |
| Amounts receivable after more than one year | 29 | €6,422 | €497 | -€5,925 | -92.3% |
| Other amounts receivable | 291 | €6,422 | €497 | -€5,925 | -92.3% |
| Amounts receivable within one year | 40/41 | €77,527 | €84,061 | +€6,534 | +8.4% |
| Trade receivables | 40 | €23,643 | €23,159 | -€484 | -2.0% |
| Other amounts receivable | 41 | €53,884 | €60,902 | +€7,018 | +13.0% |
| Current investments | 50/53 | €153,104 | €173,643 | +€20,539 | +13.4% |
| Cash at bank and in hand | 54/58 | €40,200 | €25,597 | -€14,603 | -36.3% |
| Deferred charges and accrued income | 490/1 | €39,856 | €14,982 | -€24,874 | -62.4% |
| Total equity and liabilities | 10/49 | €329,317 | €326,454 | -€2,863 | -0.9% |
| Equity | 10/15 | €250,770 | €271,035 | +€20,265 | +8.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €238,370 | €258,635 | +€20,265 | +8.5% |
| Distributable reserves | 133 | €238,370 | €258,635 | +€20,265 | +8.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €78,546 | €55,419 | -€23,127 | -29.4% |
| Amounts payable within one year | 42/48 | €77,546 | €54,419 | -€23,127 | -29.8% |
| Current portion of amounts payable after more than one year | 42 | €12,847 | €0 | -€12,847 | -100% |
| Trade debts | 44 | €7,374 | €337 | -€7,037 | -95.4% |
| Suppliers | 440/4 | €7,374 | €337 | -€7,037 | -95.4% |
| Taxes, remuneration and social security | 45 | €14,149 | €13,695 | -€454 | -3.2% |
| Taxes | 450/3 | €14,149 | €13,695 | -€454 | -3.2% |
| Other amounts payable | 47/48 | €43,177 | €40,387 | -€2,790 | -6.5% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Non-recurring operating income | 76A | - | €66 | +€66 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,978 | €4,396 | -€582 | -11.7% |
| Other operating charges | 640/8 | €955 | €1,451 | +€496 | +52.0% |
| Non-recurring operating charges | 66A | €45 | €0 | -€45 | -100% |
| Gross operating margin | 9900 | €19,023 | €43,362 | +€24,339 | +128% |
| Operating profit (loss) | 9901 | €13,045 | €37,515 | +€24,470 | +188% |
| Financial income | 75/76B | €21,563 | €5,276 | -€16,287 | -75.5% |
| Recurring financial income | 75 | €2,686 | €5,276 | +€2,590 | +96.4% |
| Non-recurring financial income | 76B | €18,877 | €0 | -€18,877 | -100% |
| Financial charges | 65/66B | €9,131 | €6,791 | -€2,340 | -25.6% |
| Recurring financial charges | 65 | €9,131 | €6,791 | -€2,340 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | €25,477 | €36,000 | +€10,523 | +41.3% |
| Income taxes | 67/77 | €5,370 | €14,069 | +€8,699 | +162% |
| Profit (loss) for the period | 9904 | €20,107 | €21,931 | +€1,824 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,107 | €21,931 | +€1,824 | +9.1% |
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 18 October 2026 via checked.be.