LOOKS LIKE: 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.
LOOKS LIKE
Largest movements
- Current investments +€23,930
up €23,930 (+13.6%), from €176,070 to €200,000
- Cash -€18,378
down €18,378 (-16.5%), from €111,402 to €93,024
mainly Contributions, distributions and other (-€27,054) and Current investments (-€23,930)
- Tangible fixed assets +€15,615
up €15,615 (+52.1%), from €29,983 to €45,598
of which Land and buildings: +€18,370
- Receivables within one year +€10,559
up €10,559 (+46.4%), from €22,748 to €33,307
of which Trade receivables: +€10,483
- Reserves +€32,277
up €32,277 (+10.7%), from €302,565 to €334,842
- Other debts +€6,751
up €6,751 (+96.3%), from €7,014 to €13,765
- Financial income +€5,758
up €5,758 (+377%), from €1,528 to €7,286
- Gross operating margin -€5,396
down €5,396 (-6.0%), from €89,865 to €84,468
- Taxes -€1,946
down €1,946 (-7.9%), from €24,572 to €22,626
- Depreciation +€1,571
up €1,571 (+24.9%), from €6,303 to €7,874
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 | €340,921 | €374,155 | +€33,234 | +9.7% |
| Fixed assets | 21/28 | €29,983 | €45,598 | +€15,615 | +52.1% |
| Tangible fixed assets | 22/27 | €29,983 | €45,598 | +€15,615 | +52.1% |
| Land and buildings | 22 | €16,736 | €35,105 | +€18,370 | +110% |
| Plant, machinery and equipment | 23 | - | €2,842 | +€2,842 | |
| Furniture and vehicles | 24 | €13,248 | €7,651 | -€5,597 | -42.2% |
| Current assets | 29/58 | €310,938 | €328,557 | +€17,619 | +5.7% |
| Amounts receivable within one year | 40/41 | €22,748 | €33,307 | +€10,559 | +46.4% |
| Trade receivables | 40 | €19,473 | €29,956 | +€10,483 | +53.8% |
| Other amounts receivable | 41 | €3,274 | €3,351 | +€77 | +2.3% |
| Current investments | 50/53 | €176,070 | €200,000 | +€23,930 | +13.6% |
| Cash at bank and in hand | 54/58 | €111,402 | €93,024 | -€18,378 | -16.5% |
| Deferred charges and accrued income | 490/1 | €718 | €2,226 | +€1,508 | +210% |
| Total equity and liabilities | 10/49 | €340,921 | €374,155 | +€33,234 | +9.7% |
| Equity | 10/15 | €308,765 | €341,042 | +€32,277 | +10.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €302,565 | €334,842 | +€32,277 | +10.7% |
| Distributable reserves | 133 | €302,565 | €334,842 | +€32,277 | +10.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €32,156 | €33,114 | +€957 | +3.0% |
| Amounts payable within one year | 42/48 | €32,156 | €33,114 | +€957 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €6,762 | €6,730 | -€32 | -0.5% |
| Financial debts | 43 | - | €15 | +€15 | |
| Credit institutions | 430/8 | - | €15 | +€15 | |
| Trade debts | 44 | €6,809 | €3,628 | -€3,181 | -46.7% |
| Suppliers | 440/4 | €6,809 | €3,628 | -€3,181 | -46.7% |
| Taxes, remuneration and social security | 45 | €11,571 | €8,976 | -€2,596 | -22.4% |
| Taxes | 450/3 | €8,846 | €8,976 | +€129 | +1.5% |
| Remuneration and social security | 454/9 | €2,725 | €0 | -€2,725 | -100% |
| Other amounts payable | 47/48 | €7,014 | €13,765 | +€6,751 | +96.3% |
| Non-recurring operating income | 76A | - | €4,700 | +€4,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,303 | €7,874 | +€1,571 | +24.9% |
| Other operating charges | 640/8 | €722 | €679 | -€43 | -6.0% |
| Gross operating margin | 9900 | €89,865 | €84,468 | -€5,396 | -6.0% |
| Operating profit (loss) | 9901 | €82,840 | €75,916 | -€6,924 | -8.4% |
| Financial income | 75/76B | €1,528 | €7,286 | +€5,758 | +377% |
| Recurring financial income | 75 | €1,528 | €7,286 | +€5,758 | +377% |
| Financial charges | 65/66B | €517 | €1,245 | +€728 | +141% |
| Recurring financial charges | 65 | €517 | €1,245 | +€728 | +141% |
| Profit (loss) for the period before taxes | 9903 | €83,851 | €81,957 | -€1,894 | -2.3% |
| Income taxes | 67/77 | €24,572 | €22,626 | -€1,946 | -7.9% |
| Profit (loss) for the period | 9904 | €59,279 | €59,331 | +€52 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €59,279 | €59,331 | +€52 | +0.1% |
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 20 October 2026 via checked.be.