NOW TO NOW: 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.
NOW TO NOW
Largest movements
- Receivables within one year +€1.2m
up €1.2m (+89.4%), from €1.4m to €2.6m
of which Other amounts receivable: +€1.1m
- Tangible fixed assets +€119,369
up €119,369 (+24.4%), from €489,449 to €608,818
of which Other tangible fixed assets: +€78,078
- Cash -€87,111
down €87,111 (-69.1%), from €126,021 to €38,911
mainly Receivables within one year (-€1.2m) and Other debts (-€314,654)
- Debts after one year +€1.5m
up €1.5m (+110%), from €1.4m to €2.9m
of which Other amounts payable: +€1.7m
- Other debts -€314,654
down €314,654 (-30.2%), from €1.0m to €727,605
- Profit (loss) carried forward -€80,993
down €80,993 (-16.9%), from €478,063 to €397,071
- Financial income -€591,698
down €591,698 (-91.9%), from €643,994 to €52,295
of which Financial income: -€592,575
- Gross operating margin +€248,016
up €248,016 (+272%), from €91,277 to €339,293
- Other operating charges +€52,464
up €52,464 (+1,587%), from €3,307 to €55,771
- Financial charges -€48,999
down €48,999 (-21.7%), from €226,059 to €177,060
- Taxes +€10,812
up €10,812 (+6,703%), from €161 to €10,974
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 | €6,102,052 | €7,311,302 | +€1.2m | +19.8% |
| Fixed assets | 21/28 | €2,489,449 | €2,608,818 | +€119,369 | +4.8% |
| Tangible fixed assets | 22/27 | €489,449 | €608,818 | +€119,369 | +24.4% |
| Land and buildings | 22 | €487,814 | €529,105 | +€41,290 | +8.5% |
| Furniture and vehicles | 24 | €0 | €0 | -€0 | -100% |
| Other tangible fixed assets | 26 | €1,635 | €79,713 | +€78,078 | +4,775% |
| Financial fixed assets | 28 | €2,000,000 | €2,000,000 | = | 0.0% |
| Current assets | 29/58 | €3,612,602 | €4,702,484 | +€1.1m | +30.2% |
| Amounts receivable after more than one year | 29 | €2,135,171 | €2,103,398 | -€31,774 | -1.5% |
| Other amounts receivable | 291 | €2,135,171 | €2,103,398 | -€31,774 | -1.5% |
| Amounts receivable within one year | 40/41 | €1,351,410 | €2,559,530 | +€1.2m | +89.4% |
| Trade receivables | 40 | €60,500 | €181,548 | +€121,048 | +200% |
| Other amounts receivable | 41 | €1,290,910 | €2,377,982 | +€1.1m | +84.2% |
| Cash at bank and in hand | 54/58 | €126,021 | €38,911 | -€87,111 | -69.1% |
| Deferred charges and accrued income | 490/1 | - | €645 | +€645 | |
| Total equity and liabilities | 10/49 | €6,102,052 | €7,311,302 | +€1.2m | +19.8% |
| Equity | 10/15 | €3,258,063 | €3,177,071 | -€80,993 | -2.5% |
| Contributions | 10/11 | €1,300,000 | €1,300,000 | = | 0.0% |
| Capital | 10 | €1,300,000 | €1,300,000 | = | 0.0% |
| Issued capital | 100 | €1,300,000 | €1,300,000 | = | 0.0% |
| Reserves | 13 | €1,480,000 | €1,480,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €130,000 | €130,000 | = | 0.0% |
| Legal reserve | 130 | €130,000 | €130,000 | = | 0.0% |
| Distributable reserves | 133 | €1,350,000 | €1,350,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €478,063 | €397,071 | -€80,993 | -16.9% |
| Amounts payable | 17/49 | €2,843,988 | €4,134,231 | +€1.3m | +45.4% |
| Amounts payable after more than one year | 17 | €1,404,394 | €2,947,765 | +€1.5m | +110% |
| Financial debts | 170/4 | €1,404,394 | €1,254,316 | -€150,078 | -10.7% |
| Other amounts payable | 178/9 | - | €1,693,449 | +€1.7m | |
| Amounts payable within one year | 42/48 | €1,439,595 | €1,184,499 | -€255,096 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €218,777 | €236,887 | +€18,110 | +8.3% |
| Trade debts | 44 | €131,054 | €123,286 | -€7,768 | -5.9% |
| Suppliers | 440/4 | €131,054 | €64,600 | -€66,455 | -50.7% |
| Bills of exchange payable | 441 | €0 | €58,687 | +€58,687 | |
| Taxes, remuneration and social security | 45 | €47,505 | €96,721 | +€49,216 | +104% |
| Taxes | 450/3 | €47,505 | €96,721 | +€49,216 | +104% |
| Other amounts payable | 47/48 | €1,042,259 | €727,605 | -€314,654 | -30.2% |
| Accrued charges and deferred income | 492/3 | - | €1,967 | +€1,967 | |
| Remuneration, social security and pensions | 62 | €13 | €0 | -€13 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,752 | €28,776 | +€2,024 | +7.6% |
| Other operating charges | 640/8 | €3,307 | €55,771 | +€52,464 | +1,587% |
| Gross operating margin | 9900 | €91,277 | €339,293 | +€248,016 | +272% |
| Operating profit (loss) | 9901 | €61,206 | €254,746 | +€193,540 | +316% |
| Financial income | 75/76B | €643,994 | €52,295 | -€591,698 | -91.9% |
| Recurring financial income | 75 | €643,994 | €51,419 | -€592,575 | -92.0% |
| Non-recurring financial income | 76B | - | €876 | +€876 | |
| Financial charges | 65/66B | €226,059 | €177,060 | -€48,999 | -21.7% |
| Recurring financial charges | 65 | €226,059 | €177,060 | -€48,999 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €479,140 | €129,981 | -€349,159 | -72.9% |
| Income taxes | 67/77 | €161 | €10,974 | +€10,812 | +6,703% |
| Profit (loss) for the period | 9904 | €478,979 | €119,007 | -€359,971 | -75.2% |
| Profit (loss) for the period to be appropriated | 9905 | €478,979 | €119,007 | -€359,971 | -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 22 October 2026 via checked.be.