OPTIMISM WINS: 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.
OPTIMISM WINS
Largest movements
- Cash -€35,196
down €35,196 (-17.4%), from €201,957 to €166,761
mainly Tax, wage and social debts (-€45,833) and Debts after one year (-€24,367)
- Tangible fixed assets -€17,050
down €17,050 (-5.6%), from €302,018 to €284,968
- Receivables within one year +€13,924
up €13,924 (+204.8%), from €6,798 to €20,722
of which Trade receivables: +€14,521
- Tax, wage and social debts -€45,833
down €45,833 (-89.8%), from €51,017 to €5,184
of which Taxes: -€34,023
- Reserves +€35,899
up €35,899 (+13.7%), from €262,598 to €298,497
- Debts after one year -€24,367
down €24,367 (-14.4%), from €169,109 to €144,742
- Other operating charges -€14,619
down €14,619 (-38.8%), from €37,695 to €23,076
- Financial income -€14,179
down €14,179 (-87.8%), from €16,142 to €1,963
- Gross operating margin -€8,523
down €8,523 (-7.8%), from €109,971 to €101,448
- Taxes -€2,711
down €2,711 (-20.4%), from €13,262 to €10,551
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 | €512,943 | €477,534 | -€35,409 | -6.9% |
| Fixed assets | 21/28 | €302,018 | €284,968 | -€17,050 | -5.6% |
| Tangible fixed assets | 22/27 | €302,018 | €284,968 | -€17,050 | -5.6% |
| Land and buildings | 22 | €271,803 | €265,078 | -€6,725 | -2.5% |
| Plant, machinery and equipment | 23 | €3,444 | €1,155 | -€2,290 | -66.5% |
| Furniture and vehicles | 24 | €26,771 | €18,736 | -€8,035 | -30.0% |
| Current assets | 29/58 | €210,926 | €192,566 | -€18,359 | -8.7% |
| Amounts receivable within one year | 40/41 | €6,798 | €20,722 | +€13,924 | +204.8% |
| Trade receivables | 40 | €1,377 | €15,897 | +€14,521 | +1054.9% |
| Other amounts receivable | 41 | €5,421 | €4,825 | -€596 | -11.0% |
| Cash at bank and in hand | 54/58 | €201,957 | €166,761 | -€35,196 | -17.4% |
| Deferred charges and accrued income | 490/1 | €2,171 | €5,083 | +€2,912 | +134.1% |
| Total equity and liabilities | 10/49 | €512,943 | €477,534 | -€35,409 | -6.9% |
| Equity | 10/15 | €264,103 | €298,597 | +€34,494 | +13.1% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €262,598 | €298,497 | +€35,899 | +13.7% |
| Distributable reserves | 133 | €262,598 | €298,497 | +€35,899 | +13.7% |
| Profit (loss) carried forward | 14 | €1,405 | - | -€1,405 | |
| Amounts payable | 17/49 | €248,840 | €178,938 | -€69,903 | -28.1% |
| Amounts payable after more than one year | 17 | €169,109 | €144,742 | -€24,367 | -14.4% |
| Financial debts | 170/4 | €169,109 | €144,742 | -€24,367 | -14.4% |
| Amounts payable within one year | 42/48 | €79,732 | €34,196 | -€45,536 | -57.1% |
| Current portion of amounts payable after more than one year | 42 | €23,801 | €24,367 | +€566 | +2.4% |
| Trade debts | 44 | €4,914 | €4,646 | -€268 | -5.5% |
| Suppliers | 440/4 | €4,914 | €4,646 | -€268 | -5.5% |
| Taxes, remuneration and social security | 45 | €51,017 | €5,184 | -€45,833 | -89.8% |
| Taxes | 450/3 | €39,206 | €5,184 | -€34,023 | -86.8% |
| Remuneration and social security | 454/9 | €11,811 | - | -€11,811 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,903 | €22,690 | +€787 | +3.6% |
| Other operating charges | 640/8 | €37,695 | €23,076 | -€14,619 | -38.8% |
| Gross operating margin | 9900 | €109,971 | €101,448 | -€8,523 | -7.8% |
| Operating profit (loss) | 9901 | €50,374 | €55,682 | +€5,308 | +10.5% |
| Financial income | 75/76B | €16,142 | €1,963 | -€14,179 | -87.8% |
| Recurring financial income | 75 | €16,142 | €1,963 | -€14,179 | -87.8% |
| Financial charges | 65/66B | €11,774 | €12,600 | +€826 | +7.0% |
| Recurring financial charges | 65 | €11,774 | €12,600 | +€826 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €54,742 | €45,045 | -€9,697 | -17.7% |
| Income taxes | 67/77 | €13,262 | €10,551 | -€2,711 | -20.4% |
| Profit (loss) for the period | 9904 | €41,480 | €34,494 | -€6,987 | -16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €41,480 | €34,494 | -€6,987 | -16.8% |
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 11 October 2026 via checked.be.