No Se: 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.
No Se
Largest movements
- Cash +€157,790
up €157,790 (+19.3%), from €818,418 to €976,208
mainly Net result for the year (+€107,003) and Receivables within one year (+€67,923)
- Receivables within one year -€67,923
down €67,923 (-1.5%), from €4.6m to €4.6m
- Reserves +€111,000
up €111,000 (+1.9%), from €5.8m to €5.9m
of which Distributable reserves: +€111,000
- Financial income -€170,589
down €170,589 (-52.6%), from €324,593 to €154,005
- Taxes -€48,577
down €48,577 (-57.6%), from €84,315 to €35,738
- Gross operating margin -€28,726
down €28,726, from €18,238 to -€10,488
- Other operating charges -€4,800
down €4,800 (-90.6%), from €5,299 to €499
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 | €5,962,189 | €6,052,056 | +€89,867 | +1.5% |
| Fixed assets | 21/28 | €3,031 | €3,031 | = | 0.0% |
| Financial fixed assets | 28 | €3,031 | €3,031 | = | 0.0% |
| Current assets | 29/58 | €5,959,158 | €6,049,025 | +€89,867 | +1.5% |
| Amounts receivable within one year | 40/41 | €4,640,739 | €4,572,817 | -€67,923 | -1.5% |
| Other amounts receivable | 41 | €4,640,739 | €4,572,817 | -€67,923 | -1.5% |
| Current investments | 50/53 | €500,000 | €500,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €818,418 | €976,208 | +€157,790 | +19.3% |
| Total equity and liabilities | 10/49 | €5,962,189 | €6,052,056 | +€89,867 | +1.5% |
| Equity | 10/15 | €5,846,742 | €5,953,745 | +€107,003 | +1.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €5,820,855 | €5,931,855 | +€111,000 | +1.9% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €5,819,000 | €5,930,000 | +€111,000 | +1.9% |
| Profit (loss) carried forward | 14 | €7,337 | €3,340 | -€3,997 | -54.5% |
| Amounts payable | 17/49 | €115,447 | €98,311 | -€17,136 | -14.8% |
| Amounts payable within one year | 42/48 | €115,447 | €98,311 | -€17,136 | -14.8% |
| Trade debts | 44 | €11,132 | - | -€11,132 | |
| Suppliers | 440/4 | €11,132 | - | -€11,132 | |
| Taxes, remuneration and social security | 45 | €14,315 | €8,311 | -€6,003 | -41.9% |
| Taxes | 450/3 | €14,315 | €8,311 | -€6,003 | -41.9% |
| Other amounts payable | 47/48 | €90,000 | €90,000 | = | 0.0% |
| Other operating charges | 640/8 | €5,299 | €499 | -€4,800 | -90.6% |
| Gross operating margin | 9900 | €18,238 | -€10,488 | -€28,726 | |
| Operating profit (loss) | 9901 | €12,939 | -€10,987 | -€23,925 | |
| Financial income | 75/76B | €324,593 | €154,005 | -€170,589 | -52.6% |
| Recurring financial income | 75 | €324,593 | €154,005 | -€170,589 | -52.6% |
| Financial charges | 65/66B | €274 | €278 | +€4 | +1.4% |
| Recurring financial charges | 65 | €274 | €278 | +€4 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €337,259 | €142,740 | -€194,518 | -57.7% |
| Income taxes | 67/77 | €84,315 | €35,738 | -€48,577 | -57.6% |
| Profit (loss) for the period | 9904 | €252,944 | €107,003 | -€145,941 | -57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €252,944 | €107,003 | -€145,941 | -57.7% |
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 8 October 2026 via checked.be.