MATCH POINT: 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.
MATCH POINT
Largest movements
- Receivables after one year +€385,767
up €385,767 (+25.9%), from €1.5m to €1.9m
- Financial fixed assets -€249,335
down €249,335 (-12.0%), from €2.1m to €1.8m
- Tangible fixed assets -€164,571
down €164,571 (-2.2%), from €7.5m to €7.3m
of which Leasing and similar rights: -€243,750
- Cash +€136,263
up €136,263 (+114%), from €119,315 to €255,578
mainly Depreciation (+€385,349) and Other debts (+€267,089)
- Other debts +€267,089
up €267,089, from €0 to €267,089
- Accrued charges and deferred income -€243,848
down €243,848 (-6.8%), from €3.6m to €3.4m
- Debts after one year -€194,037
down €194,037 (-5.7%), from €3.4m to €3.2m
- Profit (loss) carried forward +€176,563
up €176,563 (+27.2%), from -€649,888 to -€473,325
- Revaluation surpluses -€126,175
down €126,175 (-3.5%), from €3.6m to €3.4m
- Depreciation +€267,775
up €267,775 (+228%), from €117,574 to €385,349
- Gross operating margin +€240,428
up €240,428 (+54.6%), from €440,727 to €681,156
- Other operating charges -€229,246
down €229,246 (-88.8%), from €258,048 to €28,802
- Taxes +€76,215
up €76,215, from €0 to €76,215
- Financial charges -€51,336
down €51,336 (-27.6%), from €186,165 to €134,829
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 | €11,343,197 | €11,294,936 | -€48,261 | -0.4% |
| Fixed assets | 21/28 | €9,540,823 | €9,126,917 | -€413,906 | -4.3% |
| Tangible fixed assets | 22/27 | €7,457,866 | €7,293,295 | -€164,571 | -2.2% |
| Land and buildings | 22 | €158,087 | €374,829 | +€216,742 | +137% |
| Plant, machinery and equipment | 23 | €12,849 | €11,534 | -€1,314 | -10.2% |
| Leasing and similar rights | 25 | €3,595,313 | €3,351,563 | -€243,750 | -6.8% |
| Other tangible fixed assets | 26 | €3,691,618 | €3,555,370 | -€136,249 | -3.7% |
| Financial fixed assets | 28 | €2,082,957 | €1,833,622 | -€249,335 | -12.0% |
| Current assets | 29/58 | €1,802,374 | €2,168,019 | +€365,645 | +20.3% |
| Amounts receivable after more than one year | 29 | €1,488,187 | €1,873,954 | +€385,767 | +25.9% |
| Other amounts receivable | 291 | €1,488,187 | €1,873,954 | +€385,767 | +25.9% |
| Amounts receivable within one year | 40/41 | €55,871 | €36,618 | -€19,254 | -34.5% |
| Other amounts receivable | 41 | €55,871 | €36,618 | -€19,254 | -34.5% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €119,315 | €255,578 | +€136,263 | +114% |
| Deferred charges and accrued income | 490/1 | €39,000 | €1,869 | -€37,131 | -95.2% |
| Total equity and liabilities | 10/49 | €11,343,197 | €11,294,936 | -€48,261 | -0.4% |
| Equity | 10/15 | €4,144,138 | €4,259,909 | +€115,771 | +2.8% |
| Contributions | 10/11 | €1,178,734 | €1,178,734 | = | 0.0% |
| Capital | 10 | €1,178,734 | €1,178,734 | = | 0.0% |
| Issued capital | 100 | €1,178,734 | €1,178,734 | = | 0.0% |
| Revaluation surpluses | 12 | €3,564,904 | €3,438,729 | -€126,175 | -3.5% |
| Reserves | 13 | €50,388 | €115,771 | +€65,383 | +130% |
| Distributable reserves | 133 | €50,388 | €115,771 | +€65,383 | +130% |
| Profit (loss) carried forward | 14 | -€649,888 | -€473,325 | +€176,563 | +27.2% |
| Amounts payable | 17/49 | €7,199,059 | €7,035,027 | -€164,032 | -2.3% |
| Amounts payable after more than one year | 17 | €3,378,991 | €3,184,954 | -€194,037 | -5.7% |
| Financial debts | 170/4 | €3,378,991 | €3,184,954 | -€194,037 | -5.7% |
| Amounts payable within one year | 42/48 | €224,567 | €498,419 | +€273,853 | +122% |
| Current portion of amounts payable after more than one year | 42 | €186,632 | €209,254 | +€22,622 | +12.1% |
| Trade debts | 44 | €37,935 | €1,468 | -€36,467 | -96.1% |
| Suppliers | 440/4 | €37,935 | €1,468 | -€36,467 | -96.1% |
| Taxes, remuneration and social security | 45 | €0 | €20,609 | +€20,609 | |
| Taxes | 450/3 | €0 | €20,609 | +€20,609 | |
| Other amounts payable | 47/48 | €0 | €267,089 | +€267,089 | |
| Accrued charges and deferred income | 492/3 | €3,595,501 | €3,351,653 | -€243,848 | -6.8% |
| Non-recurring operating income | 76A | €60,938 | €243,750 | +€182,813 | +300% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,574 | €385,349 | +€267,775 | +228% |
| Other operating charges | 640/8 | €258,048 | €28,802 | -€229,246 | -88.8% |
| Gross operating margin | 9900 | €440,727 | €681,156 | +€240,428 | +54.6% |
| Operating profit (loss) | 9901 | €65,105 | €267,004 | +€201,899 | +310% |
| Financial income | 75/76B | €19,390 | €59,810 | +€40,420 | +208% |
| Recurring financial income | 75 | €19,390 | €59,810 | +€40,420 | +208% |
| Financial charges | 65/66B | €186,165 | €134,829 | -€51,336 | -27.6% |
| Recurring financial charges | 65 | €186,165 | €134,829 | -€51,336 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | -€101,669 | €191,985 | +€293,655 | |
| Income taxes | 67/77 | €0 | €76,215 | +€76,215 | |
| Profit (loss) for the period | 9904 | -€101,669 | €115,771 | +€217,440 | |
| Profit (loss) for the period to be appropriated | 9905 | -€101,669 | €115,771 | +€217,440 |
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 16 October 2026 via checked.be.