NO.Y: 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.
NO.Y
Largest movements
- Cash -€81.1m
down €81.1m (-96.2%), from €84.3m to €3.2m
mainly Current investments (-€50.0m) and Receivables within one year (-€16.1m)
- Current investments +€50.0m
new in 2025: €50.0m
- Receivables within one year +€16.1m
up €16.1m (+8510.9%), from €188,661 to €16.2m
of which Other amounts receivable: +€16.0m
- Financial fixed assets +€15.9m
up €15.9m (+45.4%), from €34.9m to €50.8m
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€86.5m
down €86.5m (-98.4%), from €87.8m to €1.4m
- Gross operating margin +€396,459
up €396,459 (+89.7%), from -€442,026 to -€45,568
- Taxes +€60,031
up €60,031 (+23.4%), from €257,026 to €317,057
- Financial charges +€48,048
up €48,048 (+23726.1%), from €203 to €48,250
- Other operating charges +€9,711
up €9,711 (+829.5%), from €1,171 to €10,881
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 | €119,427,153 | €120,378,206 | +€951,053 | +0.8% |
| Fixed assets | 21/28 | €34,910,333 | €50,764,798 | +€15.9m | +45.4% |
| Financial fixed assets | 28 | €34,910,333 | €50,764,798 | +€15.9m | +45.4% |
| Current assets | 29/58 | €84,516,820 | €69,613,408 | -€14.9m | -17.6% |
| Amounts receivable within one year | 40/41 | €188,661 | €16,245,381 | +€16.1m | +8510.9% |
| Trade receivables | 40 | - | €54,074 | +€54,074 | |
| Other amounts receivable | 41 | €188,661 | €16,191,307 | +€16.0m | +8482.2% |
| Current investments | 50/53 | - | €50,046,724 | +€50.0m | |
| Cash at bank and in hand | 54/58 | €84,328,159 | €3,206,482 | -€81.1m | -96.2% |
| Deferred charges and accrued income | 490/1 | - | €114,821 | +€114,821 | |
| Total equity and liabilities | 10/49 | €119,427,153 | €120,378,206 | +€951,053 | +0.8% |
| Equity | 10/15 | €119,395,583 | €120,337,080 | +€941,497 | +0.8% |
| Contributions | 10/11 | €32,272,811 | €32,272,811 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,122,772 | €88,064,268 | +€941,497 | +1.1% |
| Amounts payable | 17/49 | €31,570 | €41,126 | +€9,556 | +30.3% |
| Amounts payable within one year | 42/48 | €30,602 | €4,679 | -€25,923 | -84.7% |
| Trade debts | 44 | €30,602 | €3,794 | -€26,809 | -87.6% |
| Suppliers | 440/4 | €30,602 | €3,794 | -€26,809 | -87.6% |
| Other amounts payable | 47/48 | €0 | €886 | +€886 | |
| Accrued charges and deferred income | 492/3 | €968 | €36,447 | +€35,479 | +3667.0% |
| Other operating charges | 640/8 | €1,171 | €10,881 | +€9,711 | +829.5% |
| Gross operating margin | 9900 | -€442,026 | -€45,568 | +€396,459 | +89.7% |
| Operating profit (loss) | 9901 | -€443,197 | -€56,449 | +€386,748 | +87.3% |
| Financial income | 75/76B | €87,837,316 | €1,363,253 | -€86.5m | -98.4% |
| Recurring financial income | 75 | €87,837,316 | €1,363,253 | -€86.5m | -98.4% |
| Financial charges | 65/66B | €203 | €48,250 | +€48,048 | +23726.1% |
| Recurring financial charges | 65 | €203 | €48,250 | +€48,048 | +23726.1% |
| Profit (loss) for the period before taxes | 9903 | €87,393,916 | €1,258,554 | -€86.1m | -98.6% |
| Income taxes | 67/77 | €257,026 | €317,057 | +€60,031 | +23.4% |
| Profit (loss) for the period | 9904 | €87,136,890 | €941,497 | -€86.2m | -98.9% |
| Profit (loss) for the period to be appropriated | 9905 | €87,136,890 | €941,497 | -€86.2m | -98.9% |
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 12 October 2026 via checked.be.