NOTA BENE 4U: 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.
NOTA BENE 4U
Largest movements
- Cash +€1.3m
up €1.3m (+649%), from €194,186 to €1.5m
mainly Investment in fixed assets (net) (+€634,224) and Net result for the year (+€424,767)
- Tangible fixed assets -€758,279
down €758,279 (-34.4%), from €2.2m to €1.4m
of which Land and buildings: -€757,986
- Current investments -€100,000
down €100,000 (-64.7%), from €154,605 to €54,605
- Receivables within one year +€34,780
up €34,780, from €0 to €34,780
of which Trade receivables: +€34,780
- Reserves +€424,767
up €424,767 (+29.1%), from €1.5m to €1.9m
of which Tax-exempt reserves: +€342,038
- Provisions +€114,013
up €114,013 (+41.1%), from €277,697 to €391,710
- Debts after one year -€102,796
down €102,796 (-49.5%), from €207,796 to €105,001
- Gross operating margin +€560,015
up €560,015 (+358%), from €156,598 to €716,613
- Depreciation -€57,100
down €57,100 (-31.5%), from €181,155 to €124,055
- Taxes +€13,654
up €13,654 (+58.1%), from €23,481 to €37,135
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 | €2,552,750 | €2,988,612 | +€435,862 | +17.1% |
| Fixed assets | 21/28 | €2,201,499 | €1,443,221 | -€758,279 | -34.4% |
| Tangible fixed assets | 22/27 | €2,201,499 | €1,443,221 | -€758,279 | -34.4% |
| Land and buildings | 22 | €2,200,479 | €1,442,493 | -€757,986 | -34.4% |
| Plant, machinery and equipment | 23 | €1,020 | €728 | -€293 | -28.7% |
| Current assets | 29/58 | €351,251 | €1,545,391 | +€1.2m | +340% |
| Amounts receivable within one year | 40/41 | €0 | €34,780 | +€34,780 | |
| Trade receivables | 40 | - | €34,780 | +€34,780 | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €154,605 | €54,605 | -€100,000 | -64.7% |
| Cash at bank and in hand | 54/58 | €194,186 | €1,455,395 | +€1.3m | +649% |
| Deferred charges and accrued income | 490/1 | €2,460 | €611 | -€1,849 | -75.2% |
| Total equity and liabilities | 10/49 | €2,552,750 | €2,988,612 | +€435,862 | +17.1% |
| Equity | 10/15 | €1,477,996 | €1,902,763 | +€424,767 | +28.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,457,996 | €1,882,763 | +€424,767 | +29.1% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €624,067 | €966,104 | +€342,038 | +54.8% |
| Distributable reserves | 133 | €831,929 | €914,659 | +€82,730 | +9.9% |
| Provisions and deferred taxes | 16 | €277,697 | €391,710 | +€114,013 | +41.1% |
| Deferred taxes | 168 | €277,697 | €391,710 | +€114,013 | +41.1% |
| Amounts payable | 17/49 | €797,057 | €694,139 | -€102,918 | -12.9% |
| Amounts payable after more than one year | 17 | €207,796 | €105,001 | -€102,796 | -49.5% |
| Financial debts | 170/4 | €207,796 | €105,001 | -€102,796 | -49.5% |
| Amounts payable within one year | 42/48 | €573,348 | €572,839 | -€509 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €116,356 | €102,796 | -€13,560 | -11.7% |
| Trade debts | 44 | €115 | €4 | -€111 | -96.3% |
| Suppliers | 440/4 | €115 | €4 | -€111 | -96.3% |
| Taxes, remuneration and social security | 45 | €3,160 | €19,590 | +€16,430 | +520% |
| Taxes | 450/3 | €3,160 | €19,590 | +€16,430 | +520% |
| Other amounts payable | 47/48 | €453,718 | €450,450 | -€3,268 | -0.7% |
| Accrued charges and deferred income | 492/3 | €15,912 | €16,299 | +€387 | +2.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €181,155 | €124,055 | -€57,100 | -31.5% |
| Other operating charges | 640/8 | €17,740 | €16,305 | -€1,435 | -8.1% |
| Gross operating margin | 9900 | €156,598 | €716,613 | +€560,015 | +358% |
| Operating profit (loss) | 9901 | -€42,296 | €576,253 | +€618,549 | |
| Financial income | 75/76B | €1,071 | €2,349 | +€1,279 | +119% |
| Recurring financial income | 75 | €1,071 | €2,349 | +€1,279 | +119% |
| Financial charges | 65/66B | €3,564 | €2,687 | -€876 | -24.6% |
| Recurring financial charges | 65 | €3,564 | €2,687 | -€876 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | -€44,789 | €575,915 | +€620,704 | |
| Transfer from deferred taxes | 780 | €29,647 | €29,647 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €143,659 | +€143,659 | |
| Income taxes | 67/77 | €23,481 | €37,135 | +€13,654 | +58.1% |
| Profit (loss) for the period | 9904 | -€38,624 | €424,767 | +€463,391 | |
| Transfer from tax-exempt reserves | 789 | €88,940 | €88,940 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €430,977 | +€430,977 | |
| Profit (loss) for the period to be appropriated | 9905 | €50,316 | €82,730 | +€32,413 | +64.4% |
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 22 October 2026 via checked.be.