MONEYSPENDER: 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.
What changed
MONEYSPENDER
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€94,401
2024 · €15,518+€78,883
Equity
€661,948
2024 · €2.5m-€1.8m
Cash
€17,529
2024 · €59,871-€42,341
Balance sheet total
€2.1m
2024 · €4.8m-€2.7m
Largest movements
Assets
- Receivables after one year -€1.5m
down €1.5m (-89.8%), from €1.6m to €166,000
- Tangible fixed assets -€613,341
down €613,341 (-24.6%), from €2.5m to €1.9m
of which Other tangible fixed assets: -€505,678
- Current investments -€378,000
no longer reported in 2025 (was €378,000)
- Receivables within one year -€179,599
down €179,599 (-93.8%), from €191,501 to €11,903
Equity and liabilities
- Profit (loss) carried forward -€1.8m
down €1.8m (-77.0%), from €2.4m to €544,518
- Debts after one year -€905,273
down €905,273 (-40.1%), from €2.3m to €1.4m
Income statement
- Gross operating margin +€29,224
up €29,224 (+19.1%), from €153,160 to €182,383
- Depreciation -€23,168
down €23,168 (-23.9%), from €96,824 to €73,655
- Financial charges -€15,211
down €15,211 (-18.1%), from €84,224 to €69,014
- Financial income +€10,451
up €10,451 (+19.9%), from €52,454 to €62,904
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.
Result 2024
€15,518
Gross operating margin
+€29,224
Depreciation
+€23,168
Other operating charges
+€830
Financial income
+€10,451
Financial charges
+€15,211
Result 2025
€94,401
raises the result
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.
From operations
+€1.9m
Investment
+€917,686
Financing
-€2.8m
Cash 2024
€59,871
From operations (derived)
+€1.9m
Net result for the year
+€94,401
Depreciation
+€73,655
Receivables after one year
+€1.5m
Stocks and contracts
+€29,282
Receivables within one year
+€179,599
Deferred charges and accrued income
+€36,209
Trade debts
-€14,782
Tax, wage and social debts
-€1,088
Other debts
+€10,548
Investment (derived)
+€917,686
Investment in fixed assets (net)
+€539,686
Current investments
+€378,000
Financing
-€2.8m
Debts after one year
-€905,273
Current portion of long-term debt
+€412
Contributions, distributions and other
-€1.9m
Cash 2025
€17,529
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,816,219 | €2,080,436 | -€2.7m | -56.8% |
| Fixed assets | 21/28 | €2,495,001 | €1,881,660 | -€613,341 | -24.6% |
| Tangible fixed assets | 22/27 | €2,495,001 | €1,881,660 | -€613,341 | -24.6% |
| Land and buildings | 22 | €352,759 | €240,259 | -€112,500 | -31.9% |
| Plant, machinery and equipment | 23 | €8,374 | €13,381 | +€5,007 | +59.8% |
| Furniture and vehicles | 24 | €170 | - | -€170 | |
| Other tangible fixed assets | 26 | €2,133,697 | €1,628,020 | -€505,678 | -23.7% |
| Current assets | 29/58 | €2,321,218 | €198,776 | -€2.1m | -91.4% |
| Amounts receivable after more than one year | 29 | €1,623,010 | €166,000 | -€1.5m | -89.8% |
| Other amounts receivable | 291 | €1,623,010 | €166,000 | -€1.5m | -89.8% |
| Stocks and contracts in progress | 3 | €29,282 | - | -€29,282 | |
| Stocks | 30/36 | €29,282 | - | -€29,282 | |
| Amounts receivable within one year | 40/41 | €191,501 | €11,903 | -€179,599 | -93.8% |
| Other amounts receivable | 41 | €191,501 | €11,903 | -€179,599 | -93.8% |
| Current investments | 50/53 | €378,000 | - | -€378,000 | |
| Cash at bank and in hand | 54/58 | €59,871 | €17,529 | -€42,341 | -70.7% |
| Deferred charges and accrued income | 490/1 | €39,554 | €3,344 | -€36,209 | -91.5% |
| Total equity and liabilities | 10/49 | €4,816,219 | €2,080,436 | -€2.7m | -56.8% |
| Equity | 10/15 | €2,487,547 | €661,948 | -€1.8m | -73.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €55,930 | €55,930 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,180 | €37,180 | = | 0.0% |
| Legal reserve | 130 | €37,180 | €37,180 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,370,117 | €544,518 | -€1.8m | -77.0% |
| Amounts payable | 17/49 | €2,328,672 | €1,418,489 | -€910,183 | -39.1% |
| Amounts payable after more than one year | 17 | €2,256,870 | €1,351,596 | -€905,273 | -40.1% |
| Financial debts | 170/4 | €2,256,870 | €1,351,596 | -€905,273 | -40.1% |
| Amounts payable within one year | 42/48 | €71,802 | €66,892 | -€4,910 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €32,806 | €33,219 | +€412 | +1.3% |
| Trade debts | 44 | €33,837 | €19,055 | -€14,782 | -43.7% |
| Suppliers | 440/4 | €33,837 | €19,055 | -€14,782 | -43.7% |
| Taxes, remuneration and social security | 45 | €1,088 | - | -€1,088 | |
| Taxes | 450/3 | €1,088 | - | -€1,088 | |
| Other amounts payable | 47/48 | €4,070 | €14,618 | +€10,548 | +259% |
| Non-recurring operating income | 76A | €75,331 | - | -€75,331 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,824 | €73,655 | -€23,168 | -23.9% |
| Other operating charges | 640/8 | €9,048 | €8,218 | -€830 | -9.2% |
| Gross operating margin | 9900 | €153,160 | €182,383 | +€29,224 | +19.1% |
| Operating profit (loss) | 9901 | €47,288 | €100,510 | +€53,222 | +113% |
| Financial income | 75/76B | €52,454 | €62,904 | +€10,451 | +19.9% |
| Recurring financial income | 75 | €52,454 | €62,904 | +€10,451 | +19.9% |
| Financial charges | 65/66B | €84,224 | €69,014 | -€15,211 | -18.1% |
| Recurring financial charges | 65 | €84,224 | €69,014 | -€15,211 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €15,518 | €94,401 | +€78,883 | +508% |
| Profit (loss) for the period | 9904 | €15,518 | €94,401 | +€78,883 | +508% |
| Profit (loss) for the period to be appropriated | 9905 | €15,518 | €94,401 | +€78,883 | +508% |
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 18 October 2026 via checked.be.