MOTIVATION: 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.
MOTIVATION
Largest movements
- Receivables within one year -€432
down €432 (-3.6%), from €12,110 to €11,678
- Deferred charges and accrued income +€244
new in 2025: €244
- Profit (loss) carried forward -€188
down €188 (-0.1%), from -€254,289 to -€254,477
- Gross operating margin -€285
down €285 (-63.4%), from -€449 to -€734
- Financial income -€57
down €57 (-9.5%), from €604 to €547
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 | €18,257 | €18,070 | -€188 | -1.0% |
| Current assets | 29/58 | €18,257 | €18,070 | -€188 | -1.0% |
| Stocks and contracts in progress | 3 | €5,472 | €5,472 | = | 0.0% |
| Stocks | 30/36 | €5,472 | €5,472 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €12,110 | €11,678 | -€432 | -3.6% |
| Other amounts receivable | 41 | €12,110 | €11,678 | -€432 | -3.6% |
| Cash at bank and in hand | 54/58 | €676 | €676 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | - | €244 | +€244 | |
| Total equity and liabilities | 10/49 | €18,257 | €18,070 | -€188 | -1.0% |
| Equity | 10/15 | €18,257 | €18,070 | -€188 | -1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €253,947 | €253,947 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €252,087 | €252,087 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€254,289 | -€254,477 | -€188 | -0.1% |
| Gross operating margin | 9900 | -€449 | -€734 | -€285 | -63.4% |
| Operating profit (loss) | 9901 | -€449 | -€734 | -€285 | -63.4% |
| Financial income | 75/76B | €604 | €547 | -€57 | -9.5% |
| Recurring financial income | 75 | €604 | €547 | -€57 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €154 | -€188 | -€342 | |
| Profit (loss) for the period | 9904 | €154 | -€188 | -€342 | |
| Profit (loss) for the period to be appropriated | 9905 | €154 | -€188 | -€342 |
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 13 October 2026 via checked.be.