LEVEL 19: 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.
LEVEL 19
Largest movements
- Cash +€74,794
up €74,794 (+16.9%), from €443,152 to €517,946
mainly Net result for the year (+€171,238) and Receivables within one year (+€30,535)
- Current investments +€66,428
up €66,428 (+12.5%), from €531,978 to €598,407
- Receivables within one year -€30,535
down €30,535 (-55.0%), from €55,530 to €24,996
of which Other amounts receivable: -€28,738
- Tangible fixed assets -€27,678
down €27,678 (-47.2%), from €58,654 to €30,976
of which Furniture and vehicles: -€27,471
- Reserves +€94,290
up €94,290 (+9.1%), from €1.0m to €1.1m
- Financial income +€25,454
up €25,454 (+410%), from €6,207 to €31,661
- Financial charges +€12,115
up €12,115, from -€11,148 to €967
- Taxes +€6,007
up €6,007 (+8.7%), from €69,124 to €75,131
- Gross operating margin -€5,594
down €5,594 (-2.2%), from €250,600 to €245,006
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 | €1,090,692 | €1,173,755 | +€83,062 | +7.6% |
| Fixed assets | 21/28 | €58,654 | €30,976 | -€27,678 | -47.2% |
| Tangible fixed assets | 22/27 | €58,654 | €30,976 | -€27,678 | -47.2% |
| Plant, machinery and equipment | 23 | €1,605 | €1,399 | -€206 | -12.9% |
| Furniture and vehicles | 24 | €57,049 | €29,577 | -€27,471 | -48.2% |
| Current assets | 29/58 | €1,032,038 | €1,142,778 | +€110,740 | +10.7% |
| Amounts receivable within one year | 40/41 | €55,530 | €24,996 | -€30,535 | -55.0% |
| Trade receivables | 40 | €1,797 | €0 | -€1,797 | -100% |
| Other amounts receivable | 41 | €53,734 | €24,996 | -€28,738 | -53.5% |
| Current investments | 50/53 | €531,978 | €598,407 | +€66,428 | +12.5% |
| Cash at bank and in hand | 54/58 | €443,152 | €517,946 | +€74,794 | +16.9% |
| Deferred charges and accrued income | 490/1 | €1,377 | €1,430 | +€53 | +3.8% |
| Total equity and liabilities | 10/49 | €1,090,692 | €1,173,755 | +€83,062 | +7.6% |
| Equity | 10/15 | €1,052,101 | €1,146,390 | +€94,290 | +9.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,032,100 | €1,126,390 | +€94,290 | +9.1% |
| Distributable reserves | 133 | €1,032,100 | €1,126,390 | +€94,290 | +9.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | 0.0% |
| Amounts payable | 17/49 | €38,592 | €27,364 | -€11,227 | -29.1% |
| Amounts payable within one year | 42/48 | €36,026 | €24,797 | -€11,229 | -31.2% |
| Trade debts | 44 | €2,189 | €955 | -€1,234 | -56.4% |
| Suppliers | 440/4 | €2,189 | €955 | -€1,234 | -56.4% |
| Taxes, remuneration and social security | 45 | €33,837 | €23,842 | -€9,995 | -29.5% |
| Taxes | 450/3 | €33,837 | €23,842 | -€9,995 | -29.5% |
| Accrued charges and deferred income | 492/3 | €2,566 | €2,567 | +€1 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,376 | €27,678 | +€302 | +1.1% |
| Other operating charges | 640/8 | €1,602 | €1,653 | +€50 | +3.1% |
| Gross operating margin | 9900 | €250,600 | €245,006 | -€5,594 | -2.2% |
| Operating profit (loss) | 9901 | €221,621 | €215,675 | -€5,946 | -2.7% |
| Financial income | 75/76B | €6,207 | €31,661 | +€25,454 | +410% |
| Recurring financial income | 75 | €6,207 | €31,661 | +€25,454 | +410% |
| Financial charges | 65/66B | -€11,148 | €967 | +€12,115 | |
| Recurring financial charges | 65 | -€11,148 | €967 | +€12,115 | |
| Profit (loss) for the period before taxes | 9903 | €238,976 | €246,369 | +€7,393 | +3.1% |
| Income taxes | 67/77 | €69,124 | €75,131 | +€6,007 | +8.7% |
| Profit (loss) for the period | 9904 | €169,852 | €171,238 | +€1,386 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €169,852 | €171,238 | +€1,386 | +0.8% |
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 30 October 2026 via checked.be.