MOTIVE: what changed
Two fiscal 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.
MOTIVE
Largest movements
- Cash +€62,899
up €62,899 (+81.9%), from €76,822 to €139,721
mainly Current investments (+€50,000) and Depreciation (+€18,364)
- Current investments -€50,000
down €50,000 (-22.0%), from €226,800 to €176,800
- Tangible fixed assets -€18,364
down €18,364 (-22.9%), from €80,362 to €61,997
of which Other tangible fixed assets: -€15,338
- Receivables within one year -€14,052
down €14,052 (-17.6%), from €79,805 to €65,752
of which Trade receivables: -€14,405
- Debts after one year -€15,215
down €15,215 (-24.1%), from €63,128 to €47,914
- Reserves +€12,367
up €12,367 (+5.4%), from €228,403 to €240,770
of which Distributable reserves: +€12,367
- Trade debts -€11,126
down €11,126 (-11.8%), from €93,999 to €82,874
- Tax, wage and social debts -€8,271
down €8,271 (-19.4%), from €42,727 to €34,456
of which Remuneration and social security: -€8,376
- Staff costs -€43,201
down €43,201 (-22.6%), from €191,438 to €148,237
- Gross operating margin -€29,732
down €29,732 (-13.8%), from €215,313 to €185,581
- Financial income -€2,827
down €2,827 (-54.7%), from €5,173 to €2,346
- Taxes +€2,259
up €2,259 (+51.2%), from €4,417 to €6,676
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 | €466,596 | €446,078 | -€20,518 | -4.4% |
| Fixed assets | 21/28 | €80,362 | €61,997 | -€18,364 | -22.9% |
| Tangible fixed assets | 22/27 | €80,362 | €61,997 | -€18,364 | -22.9% |
| Land and buildings | 22 | €38,967 | €37,684 | -€1,283 | -3.3% |
| Furniture and vehicles | 24 | €3,248 | €1,505 | -€1,744 | -53.7% |
| Other tangible fixed assets | 26 | €38,147 | €22,809 | -€15,338 | -40.2% |
| Current assets | 29/58 | €386,234 | €384,080 | -€2,154 | -0.6% |
| Amounts receivable within one year | 40/41 | €79,805 | €65,752 | -€14,052 | -17.6% |
| Trade receivables | 40 | €77,669 | €63,264 | -€14,405 | -18.5% |
| Other amounts receivable | 41 | €2,135 | €2,488 | +€353 | +16.5% |
| Current investments | 50/53 | €226,800 | €176,800 | -€50,000 | -22.0% |
| Cash at bank and in hand | 54/58 | €76,822 | €139,721 | +€62,899 | +81.9% |
| Deferred charges and accrued income | 490/1 | €2,808 | €1,807 | -€1,001 | -35.6% |
| Total equity and liabilities | 10/49 | €466,596 | €446,078 | -€20,518 | -4.4% |
| Equity | 10/15 | €248,403 | €260,770 | +€12,367 | +5.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €228,403 | €240,770 | +€12,367 | +5.4% |
| Non-distributable reserves | 130/1 | €76,800 | €76,800 | = | 0.0% |
| Own shares acquired | 1312 | €76,800 | €76,800 | = | 0.0% |
| Distributable reserves | 133 | €151,603 | €163,970 | +€12,367 | +8.2% |
| Amounts payable | 17/49 | €218,193 | €185,307 | -€32,886 | -15.1% |
| Amounts payable after more than one year | 17 | €63,128 | €47,914 | -€15,215 | -24.1% |
| Financial debts | 170/4 | €63,128 | €47,914 | -€15,215 | -24.1% |
| Amounts payable within one year | 42/48 | €154,506 | €136,994 | -€17,512 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €15,058 | €15,215 | +€156 | +1.0% |
| Trade debts | 44 | €93,999 | €82,874 | -€11,126 | -11.8% |
| Suppliers | 440/4 | €93,999 | €82,874 | -€11,126 | -11.8% |
| Taxes, remuneration and social security | 45 | €42,727 | €34,456 | -€8,271 | -19.4% |
| Taxes | 450/3 | €5,403 | €5,508 | +€105 | +1.9% |
| Remuneration and social security | 454/9 | €37,324 | €28,948 | -€8,376 | -22.4% |
| Other amounts payable | 47/48 | €2,721 | €4,449 | +€1,728 | +63.5% |
| Accrued charges and deferred income | 492/3 | €559 | €400 | -€159 | -28.5% |
| Remuneration, social security and pensions | 62 | €191,438 | €148,237 | -€43,201 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,364 | €18,364 | = | 0.0% |
| Other operating charges | 640/8 | €838 | €531 | -€307 | -36.6% |
| Gross operating margin | 9900 | €215,313 | €185,581 | -€29,732 | -13.8% |
| Operating profit (loss) | 9901 | €4,672 | €18,449 | +€13,776 | +294.8% |
| Financial income | 75/76B | €5,173 | €2,346 | -€2,827 | -54.7% |
| Recurring financial income | 75 | €5,173 | €2,346 | -€2,827 | -54.7% |
| Financial charges | 65/66B | €1,815 | €1,752 | -€64 | -3.5% |
| Recurring financial charges | 65 | €1,815 | €1,752 | -€64 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €8,031 | €19,043 | +€11,013 | +137.1% |
| Income taxes | 67/77 | €4,417 | €6,676 | +€2,259 | +51.2% |
| Profit (loss) for the period | 9904 | €3,614 | €12,367 | +€8,753 | +242.2% |
| Profit (loss) for the period to be appropriated | 9905 | €3,614 | €12,367 | +€8,753 | +242.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.