Mieke Somers: 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.
Mieke Somers
Largest movements
- Intangible fixed assets -€74,894
down €74,894 (-36.8%), from €203,661 to €128,766
- Tangible fixed assets -€68,237
down €68,237 (-5.2%), from €1.3m to €1.2m
of which Land and buildings: -€90,233
- Receivables after one year -€30,250
no longer reported in 2025 (was €30,250)
- Cash -€27,713
down €27,713 (-19.5%), from €142,298 to €114,585
mainly Contributions, distributions and other (-€204,966) and Debts after one year (-€111,213)
- Debts after one year -€111,213
down €111,213 (-8.8%), from €1.3m to €1.2m
- Reserves -€104,912
down €104,912 (-23.6%), from €445,244 to €340,332
- Staff costs +€48,795
up €48,795 (+18.9%), from €258,761 to €307,556
- Taxes -€10,096
down €10,096 (-18.0%), from €56,042 to €45,947
- Depreciation +€9,655
up €9,655 (+5.1%), from €191,025 to €200,680
- Financial income -€8,060
down €8,060 (-42.6%), from €18,935 to €10,875
of which Financial income: -€13,060
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 | €1,897,978 | €1,699,054 | -€198,925 | -10.5% |
| Fixed assets | 21/28 | €1,519,140 | €1,376,008 | -€143,132 | -9.4% |
| Intangible fixed assets | 21 | €203,661 | €128,766 | -€74,894 | -36.8% |
| Tangible fixed assets | 22/27 | €1,312,419 | €1,244,182 | -€68,237 | -5.2% |
| Land and buildings | 22 | €1,275,991 | €1,185,758 | -€90,233 | -7.1% |
| Plant, machinery and equipment | 23 | €10,456 | €22,634 | +€12,178 | +116% |
| Furniture and vehicles | 24 | €18,155 | €29,375 | +€11,220 | +61.8% |
| Other tangible fixed assets | 26 | €7,817 | €6,414 | -€1,403 | -17.9% |
| Financial fixed assets | 28 | €3,060 | €3,060 | = | 0.0% |
| Current assets | 29/58 | €378,839 | €323,046 | -€55,793 | -14.7% |
| Amounts receivable after more than one year | 29 | €30,250 | - | -€30,250 | |
| Other amounts receivable | 291 | €30,250 | - | -€30,250 | |
| Amounts receivable within one year | 40/41 | €111,422 | €94,307 | -€17,115 | -15.4% |
| Trade receivables | 40 | €65,178 | €81,760 | +€16,582 | +25.4% |
| Other amounts receivable | 41 | €46,244 | €12,548 | -€33,697 | -72.9% |
| Current investments | 50/53 | €91,172 | €104,567 | +€13,394 | +14.7% |
| Cash at bank and in hand | 54/58 | €142,298 | €114,585 | -€27,713 | -19.5% |
| Deferred charges and accrued income | 490/1 | €3,697 | €9,586 | +€5,890 | +159% |
| Total equity and liabilities | 10/49 | €1,897,978 | €1,699,054 | -€198,925 | -10.5% |
| Equity | 10/15 | €446,244 | €341,332 | -€104,912 | -23.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €445,244 | €340,332 | -€104,912 | -23.6% |
| Distributable reserves | 133 | €445,244 | €340,332 | -€104,912 | -23.6% |
| Amounts payable | 17/49 | €1,451,735 | €1,357,722 | -€94,013 | -6.5% |
| Amounts payable after more than one year | 17 | €1,270,945 | €1,159,732 | -€111,213 | -8.8% |
| Financial debts | 170/4 | €1,270,945 | €1,159,732 | -€111,213 | -8.8% |
| Amounts payable within one year | 42/48 | €180,790 | €197,990 | +€17,200 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €118,380 | €124,425 | +€6,044 | +5.1% |
| Trade debts | 44 | €11,358 | €29,969 | +€18,612 | +164% |
| Suppliers | 440/4 | €11,358 | €29,969 | +€18,612 | +164% |
| Taxes, remuneration and social security | 45 | €44,752 | €37,296 | -€7,456 | -16.7% |
| Taxes | 450/3 | €3,485 | €3,236 | -€250 | -7.2% |
| Remuneration and social security | 454/9 | €41,267 | €34,061 | -€7,207 | -17.5% |
| Other amounts payable | 47/48 | €6,300 | €6,300 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €258,761 | €307,556 | +€48,795 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €191,025 | €200,680 | +€9,655 | +5.1% |
| Other operating charges | 640/8 | €5,122 | €3,686 | -€1,436 | -28.0% |
| Non-recurring operating charges | 66A | €24,701 | €3,308 | -€21,392 | -86.6% |
| Gross operating margin | 9900 | €693,561 | €694,826 | +€1,265 | +0.2% |
| Operating profit (loss) | 9901 | €213,953 | €179,596 | -€34,357 | -16.1% |
| Financial income | 75/76B | €18,935 | €10,875 | -€8,060 | -42.6% |
| Recurring financial income | 75 | €18,935 | €5,875 | -€13,060 | -69.0% |
| Non-recurring financial income | 76B | - | €5,000 | +€5,000 | |
| Financial charges | 65/66B | €38,090 | €44,470 | +€6,381 | +16.8% |
| Recurring financial charges | 65 | €38,090 | €44,470 | +€6,381 | +16.8% |
| Profit (loss) for the period before taxes | 9903 | €194,798 | €146,001 | -€48,797 | -25.1% |
| Income taxes | 67/77 | €56,042 | €45,947 | -€10,096 | -18.0% |
| Profit (loss) for the period | 9904 | €138,756 | €100,054 | -€38,702 | -27.9% |
| Profit (loss) for the period to be appropriated | 9905 | €138,756 | €100,054 | -€38,702 | -27.9% |
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 1 November 2026 via checked.be.