NOT AVERAGE: 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.
NOT AVERAGE
Largest movements
- Receivables within one year +€13,376
up €13,376 (+66.3%), from €20,181 to €33,556
of which Other amounts receivable: +€11,509
- Current investments +€6,036
up €6,036 (+25.6%), from €23,559 to €29,595
- Tangible fixed assets -€4,558
down €4,558 (-55.7%), from €8,179 to €3,621
of which Plant, machinery and equipment: -€3,396
- Reserves +€18,579
up €18,579 (+9.4%), from €196,736 to €215,316
- Gross operating margin -€70,186
down €70,186 (-69.8%), from €100,538 to €30,352
- Taxes -€14,105
down €14,105 (-71.2%), from €19,802 to €5,698
- Financial charges -€1,085
down €1,085 (-53.0%), from €2,046 to €961
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 | €225,062 | €241,892 | +€16,829 | +7.5% |
| Fixed assets | 21/28 | €8,179 | €3,621 | -€4,558 | -55.7% |
| Tangible fixed assets | 22/27 | €8,179 | €3,621 | -€4,558 | -55.7% |
| Land and buildings | 22 | €2,797 | €1,769 | -€1,028 | -36.8% |
| Plant, machinery and equipment | 23 | €4,985 | €1,589 | -€3,396 | -68.1% |
| Furniture and vehicles | 24 | €397 | €262 | -€134 | -33.9% |
| Current assets | 29/58 | €216,883 | €238,271 | +€21,388 | +9.9% |
| Stocks and contracts in progress | 3 | - | €2,223 | +€2,223 | |
| Stocks | 30/36 | - | €2,223 | +€2,223 | |
| Amounts receivable within one year | 40/41 | €20,181 | €33,556 | +€13,376 | +66.3% |
| Trade receivables | 40 | €17,200 | €19,067 | +€1,867 | +10.9% |
| Other amounts receivable | 41 | €2,980 | €14,489 | +€11,509 | +386% |
| Current investments | 50/53 | €23,559 | €29,595 | +€6,036 | +25.6% |
| Cash at bank and in hand | 54/58 | €172,202 | €171,846 | -€356 | -0.2% |
| Deferred charges and accrued income | 490/1 | €941 | €1,051 | +€109 | +11.6% |
| Total equity and liabilities | 10/49 | €225,062 | €241,892 | +€16,829 | +7.5% |
| Equity | 10/15 | €201,736 | €220,316 | +€18,579 | +9.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €196,736 | €215,316 | +€18,579 | +9.4% |
| Distributable reserves | 133 | €196,736 | €215,316 | +€18,579 | +9.4% |
| Amounts payable | 17/49 | €23,326 | €21,576 | -€1,750 | -7.5% |
| Amounts payable within one year | 42/48 | €23,126 | €21,376 | -€1,750 | -7.6% |
| Financial debts | 43 | €1,204 | €770 | -€434 | -36.0% |
| Credit institutions | 430/8 | €1,204 | €770 | -€434 | -36.0% |
| Trade debts | 44 | €4,854 | €4,924 | +€70 | +1.4% |
| Suppliers | 440/4 | €4,854 | €4,924 | +€70 | +1.4% |
| Taxes, remuneration and social security | 45 | €4,201 | €3,146 | -€1,055 | -25.1% |
| Taxes | 450/3 | €4,201 | €3,146 | -€1,055 | -25.1% |
| Other amounts payable | 47/48 | €12,868 | €12,537 | -€331 | -2.6% |
| Accrued charges and deferred income | 492/3 | €200 | €200 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,513 | €3,235 | -€278 | -7.9% |
| Other operating charges | 640/8 | €277 | €750 | +€473 | +171% |
| Non-recurring operating charges | 66A | - | €1,323 | +€1,323 | |
| Gross operating margin | 9900 | €100,538 | €30,352 | -€70,186 | -69.8% |
| Operating profit (loss) | 9901 | €96,748 | €25,044 | -€71,704 | -74.1% |
| Financial income | 75/76B | €5 | €195 | +€189 | +3,626% |
| Recurring financial income | 75 | €5 | €195 | +€189 | +3,626% |
| Financial charges | 65/66B | €2,046 | €961 | -€1,085 | -53.0% |
| Recurring financial charges | 65 | €2,046 | €961 | -€1,085 | -53.0% |
| Profit (loss) for the period before taxes | 9903 | €94,707 | €24,277 | -€70,430 | -74.4% |
| Income taxes | 67/77 | €19,802 | €5,698 | -€14,105 | -71.2% |
| Profit (loss) for the period | 9904 | €74,905 | €18,579 | -€56,326 | -75.2% |
| Profit (loss) for the period to be appropriated | 9905 | €74,905 | €18,579 | -€56,326 | -75.2% |
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 23 October 2026 via checked.be.