MOTM: 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.
MOTM
Largest movements
- Cash +€26,181
up €26,181 (+131%), from €20,008 to €46,190
mainly Net result for the year (+€29,371) and Depreciation (+€23,178)
- Tangible fixed assets -€16,099
down €16,099 (-3.5%), from €463,822 to €447,723
of which Land and buildings: -€14,903
- Receivables within one year -€9,802
down €9,802 (-19.3%), from €50,848 to €41,046
of which Trade receivables: -€9,983
- Reserves +€28,445
up €28,445 (+11.0%), from €259,264 to €287,709
of which Distributable reserves: +€28,445
- Debts after one year -€26,452
down €26,452 (-13.6%), from €194,543 to €168,090
- Other debts -€10,933
down €10,933 (-74.1%), from €14,755 to €3,822
- Tax, wage and social debts +€8,785
up €8,785 (+94.3%), from €9,318 to €18,103
- Gross operating margin -€47,519
down €47,519 (-40.8%), from €116,605 to €69,086
- Taxes -€8,558
down €8,558 (-49.1%), from €17,414 to €8,856
- Financial charges -€1,975
down €1,975 (-32.9%), from €6,007 to €4,032
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 | €536,821 | €536,280 | -€541 | -0.1% |
| Fixed assets | 21/28 | €463,822 | €447,723 | -€16,099 | -3.5% |
| Tangible fixed assets | 22/27 | €463,822 | €447,723 | -€16,099 | -3.5% |
| Land and buildings | 22 | €460,134 | €445,230 | -€14,903 | -3.2% |
| Plant, machinery and equipment | 23 | €3,458 | €2,493 | -€965 | -27.9% |
| Furniture and vehicles | 24 | €230 | €0 | -€230 | -100% |
| Current assets | 29/58 | €72,999 | €88,557 | +€15,558 | +21.3% |
| Amounts receivable within one year | 40/41 | €50,848 | €41,046 | -€9,802 | -19.3% |
| Trade receivables | 40 | €50,215 | €40,233 | -€9,983 | -19.9% |
| Other amounts receivable | 41 | €633 | €814 | +€180 | +28.5% |
| Cash at bank and in hand | 54/58 | €20,008 | €46,190 | +€26,181 | +131% |
| Deferred charges and accrued income | 490/1 | €2,142 | €1,321 | -€821 | -38.3% |
| Total equity and liabilities | 10/49 | €536,821 | €536,280 | -€541 | -0.1% |
| Equity | 10/15 | €277,864 | €306,309 | +€28,445 | +10.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €259,264 | €287,709 | +€28,445 | +11.0% |
| Tax-exempt reserves | 132 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €244,264 | €272,709 | +€28,445 | +11.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €258,957 | €229,971 | -€28,986 | -11.2% |
| Amounts payable after more than one year | 17 | €194,543 | €168,090 | -€26,452 | -13.6% |
| Financial debts | 170/4 | €194,543 | €168,090 | -€26,452 | -13.6% |
| Amounts payable within one year | 42/48 | €61,944 | €60,220 | -€1,724 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €26,966 | €26,452 | -€514 | -1.9% |
| Financial debts | 43 | €0 | €201 | +€201 | |
| Credit institutions | 430/8 | €0 | €201 | +€201 | |
| Trade debts | 44 | €10,906 | €11,642 | +€737 | +6.8% |
| Suppliers | 440/4 | €10,906 | €11,642 | +€737 | +6.8% |
| Taxes, remuneration and social security | 45 | €9,318 | €18,103 | +€8,785 | +94.3% |
| Taxes | 450/3 | €9,318 | €18,103 | +€8,785 | +94.3% |
| Other amounts payable | 47/48 | €14,755 | €3,822 | -€10,933 | -74.1% |
| Accrued charges and deferred income | 492/3 | €2,471 | €1,661 | -€810 | -32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,490 | €23,178 | -€311 | -1.3% |
| Other operating charges | 640/8 | €2,944 | €3,649 | +€705 | +23.9% |
| Gross operating margin | 9900 | €116,605 | €69,086 | -€47,519 | -40.8% |
| Operating profit (loss) | 9901 | €90,171 | €42,259 | -€47,913 | -53.1% |
| Financial income | 75/76B | €32 | €0 | -€32 | -99.6% |
| Recurring financial income | 75 | €32 | €0 | -€32 | -99.6% |
| Financial charges | 65/66B | €6,007 | €4,032 | -€1,975 | -32.9% |
| Recurring financial charges | 65 | €6,007 | €4,032 | -€1,975 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €84,197 | €38,227 | -€45,970 | -54.6% |
| Income taxes | 67/77 | €17,414 | €8,856 | -€8,558 | -49.1% |
| Profit (loss) for the period | 9904 | €66,783 | €29,371 | -€37,412 | -56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €66,783 | €29,371 | -€37,412 | -56.0% |
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.