LINEAMENTI: 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.
LINEAMENTI
Largest movements
- Receivables within one year +€7,827
up €7,827 (+70.4%), from €11,113 to €18,940
of which Trade receivables: +€7,709
- Cash -€7,260
down €7,260 (-5.4%), from €133,612 to €126,352
mainly Contributions, distributions and other (-€119,600) and Receivables within one year (-€7,827)
- Tangible fixed assets -€1,902
down €1,902 (-21.4%), from €8,876 to €6,974
- Reserves -€55,401
down €55,401 (-92.6%), from €59,835 to €4,434
- Other debts +€55,036
up €55,036 (+73.6%), from €74,821 to €129,856
- Trade debts -€1,759
down €1,759 (-27.8%), from €6,324 to €4,565
- Gross operating margin +€28,111
up €28,111 (+44.9%), from €62,598 to €90,708
- Taxes +€6,354
up €6,354 (+50.4%), from €12,615 to €18,968
- Financial charges +€2,006
up €2,006 (+84.1%), from €2,385 to €4,391
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 | €158,565 | €156,373 | -€2,192 | -1.4% |
| Fixed assets | 21/28 | €8,876 | €6,974 | -€1,902 | -21.4% |
| Tangible fixed assets | 22/27 | €8,876 | €6,974 | -€1,902 | -21.4% |
| Plant, machinery and equipment | 23 | €8,876 | €6,974 | -€1,902 | -21.4% |
| Current assets | 29/58 | €149,689 | €149,399 | -€291 | -0.2% |
| Amounts receivable within one year | 40/41 | €11,113 | €18,940 | +€7,827 | +70.4% |
| Trade receivables | 40 | €11,113 | €18,822 | +€7,709 | +69.4% |
| Other amounts receivable | 41 | - | €119 | +€119 | |
| Cash at bank and in hand | 54/58 | €133,612 | €126,352 | -€7,260 | -5.4% |
| Deferred charges and accrued income | 490/1 | €4,964 | €4,107 | -€858 | -17.3% |
| Total equity and liabilities | 10/49 | €158,565 | €156,373 | -€2,192 | -1.4% |
| Equity | 10/15 | €64,835 | €9,434 | -€55,401 | -85.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €59,835 | €4,434 | -€55,401 | -92.6% |
| Distributable reserves | 133 | €59,835 | €4,434 | -€55,401 | -92.6% |
| Amounts payable | 17/49 | €93,730 | €146,939 | +€53,209 | +56.8% |
| Amounts payable within one year | 42/48 | €93,730 | €146,939 | +€53,209 | +56.8% |
| Trade debts | 44 | €6,324 | €4,565 | -€1,759 | -27.8% |
| Suppliers | 440/4 | €6,324 | €4,565 | -€1,759 | -27.8% |
| Taxes, remuneration and social security | 45 | €12,585 | €12,518 | -€68 | -0.5% |
| Taxes | 450/3 | €12,585 | €12,518 | -€68 | -0.5% |
| Other amounts payable | 47/48 | €74,821 | €129,856 | +€55,036 | +73.6% |
| Non-recurring operating income | 76A | €4,090 | - | -€4,090 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,902 | €1,902 | = | 0.0% |
| Other operating charges | 640/8 | €1,127 | €1,248 | +€121 | +10.8% |
| Gross operating margin | 9900 | €62,598 | €90,708 | +€28,111 | +44.9% |
| Operating profit (loss) | 9901 | €59,569 | €87,558 | +€27,989 | +47.0% |
| Financial income | 75/76B | €11 | - | -€11 | |
| Recurring financial income | 75 | €11 | - | -€11 | |
| Financial charges | 65/66B | €2,385 | €4,391 | +€2,006 | +84.1% |
| Recurring financial charges | 65 | €2,385 | €4,391 | +€2,006 | +84.1% |
| Profit (loss) for the period before taxes | 9903 | €57,194 | €83,167 | +€25,973 | +45.4% |
| Income taxes | 67/77 | €12,615 | €18,968 | +€6,354 | +50.4% |
| Profit (loss) for the period | 9904 | €44,580 | €64,199 | +€19,619 | +44.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,580 | €64,199 | +€19,619 | +44.0% |
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 7 October 2026 via checked.be.