MANAGEMENT CENTER: 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.
MANAGEMENT CENTER
Largest movements
- Receivables within one year +€56,000
new in 2025: €56,000
- Cash -€29,162
down €29,162 (-58.0%), from €50,284 to €21,122
mainly Receivables within one year (-€56,000) and Deferred charges and accrued income (-€1,774)
- Tangible fixed assets -€27,456
down €27,456 (-20.1%), from €136,854 to €109,398
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€4,397
down €4,397 (-10.3%), from €42,630 to €38,232
- Depreciation -€2,625
down €2,625 (-8.7%), from €30,081 to €27,456
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 | €187,138 | €188,294 | +€1,156 | +0.6% |
| Fixed assets | 21/28 | €136,854 | €109,398 | -€27,456 | -20.1% |
| Tangible fixed assets | 22/27 | €136,854 | €109,398 | -€27,456 | -20.1% |
| Land and buildings | 22 | €136,854 | €109,398 | -€27,456 | -20.1% |
| Current assets | 29/58 | €50,284 | €78,896 | +€28,612 | +56.9% |
| Amounts receivable within one year | 40/41 | - | €56,000 | +€56,000 | |
| Other amounts receivable | 41 | - | €56,000 | +€56,000 | |
| Cash at bank and in hand | 54/58 | €50,284 | €21,122 | -€29,162 | -58.0% |
| Deferred charges and accrued income | 490/1 | - | €1,774 | +€1,774 | |
| Total equity and liabilities | 10/49 | €187,138 | €188,294 | +€1,156 | +0.6% |
| Equity | 10/15 | €154,893 | €154,306 | -€588 | -0.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €534,573 | €534,573 | = | 0.0% |
| Reserves | 13 | €14,064 | €14,064 | = | 0.0% |
| Distributable reserves | 133 | €14,064 | €14,064 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€412,336 | -€412,924 | -€588 | -0.1% |
| Amounts payable | 17/49 | €32,245 | €33,988 | +€1,744 | +5.4% |
| Amounts payable after more than one year | 17 | €24,000 | €24,000 | = | 0.0% |
| Other amounts payable | 178/9 | €24,000 | €24,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €8,245 | €9,988 | +€1,744 | +21.1% |
| Trade debts | 44 | - | €1,744 | +€1,744 | |
| Suppliers | 440/4 | - | €1,744 | +€1,744 | |
| Other amounts payable | 47/48 | €8,245 | €8,245 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,081 | €27,456 | -€2,625 | -8.7% |
| Other operating charges | 640/8 | €10,819 | €11,158 | +€339 | +3.1% |
| Gross operating margin | 9900 | €42,630 | €38,232 | -€4,397 | -10.3% |
| Operating profit (loss) | 9901 | €1,730 | -€382 | -€2,111 | |
| Financial income | 75/76B | €0 | €185 | +€184 | +59500.0% |
| Recurring financial income | 75 | €0 | €185 | +€184 | +59500.0% |
| Financial charges | 65/66B | €376 | €336 | -€41 | -10.8% |
| Recurring financial charges | 65 | €376 | €336 | -€41 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €1,354 | -€532 | -€1,886 | |
| Income taxes | 67/77 | - | €55 | +€55 | |
| Profit (loss) for the period | 9904 | €1,354 | -€588 | -€1,942 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,354 | -€588 | -€1,942 |
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 10 October 2026 via checked.be.