PARTE: 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.
PARTE
Largest movements
- Current investments +€1.7m
up €1.7m (+18.1%), from €9.5m to €11.3m
- Cash -€569,764
down €569,764 (-35.4%), from €1.6m to €1.0m
mainly Current investments (-€1.7m) and Receivables after one year (-€140,630)
- Receivables within one year -€397,136
down €397,136 (-20.0%), from €2.0m to €1.6m
- Profit (loss) carried forward +€814,552
up €814,552 (+4.4%), from €18.6m to €19.4m
- Financial income -€2.5m
down €2.5m (-69.9%), from €3.6m to €1.1m
- Services and other goods +€120,688
new in 2025: €120,688
- Gross operating margin +€82,770
no longer reported in 2025 (was -€82,770)
- Other operating charges +€54,098
up €54,098 (+5591.4%), from €968 to €55,066
- Taxes -€48,952
down €48,952 (-54.6%), from €89,705 to €40,753
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 | €26,038,280 | €26,856,224 | +€817,944 | +3.1% |
| Fixed assets | 21/28 | €10,849,653 | €10,849,653 | = | 0.0% |
| Financial fixed assets | 28 | €10,849,653 | €10,849,653 | = | 0.0% |
| Affiliated companies | 280/1 | - | €10,849,653 | +€10.8m | |
| Participating interests | 280 | - | €10,849,653 | +€10.8m | |
| Current assets | 29/58 | €15,188,627 | €16,006,571 | +€817,944 | +5.4% |
| Amounts receivable after more than one year | 29 | €1,962,257 | €2,102,887 | +€140,630 | +7.2% |
| Trade receivables | 290 | €1,962,257 | €2,102,887 | +€140,630 | +7.2% |
| Amounts receivable within one year | 40/41 | €1,990,237 | €1,593,101 | -€397,136 | -20.0% |
| Other amounts receivable | 41 | €1,990,237 | €1,593,101 | -€397,136 | -20.0% |
| Current investments | 50/53 | €9,544,816 | €11,268,831 | +€1.7m | +18.1% |
| Other investments | 51/53 | - | €11,268,831 | +€11.3m | |
| Cash at bank and in hand | 54/58 | €1,611,516 | €1,041,752 | -€569,764 | -35.4% |
| Deferred charges and accrued income | 490/1 | €79,801 | - | -€79,801 | |
| Total equity and liabilities | 10/49 | €26,038,280 | €26,856,224 | +€817,944 | +3.1% |
| Equity | 10/15 | €25,976,095 | €26,790,648 | +€814,552 | +3.1% |
| Contributions | 10/11 | €6,716,000 | €6,716,000 | = | 0.0% |
| Capital | 10 | €6,716,000 | €6,716,000 | = | 0.0% |
| Issued capital | 100 | €6,716,000 | €6,716,000 | = | 0.0% |
| Reserves | 13 | €671,600 | €671,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €671,600 | €671,600 | = | 0.0% |
| Legal reserve | 130 | €671,600 | €671,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,588,495 | €19,403,048 | +€814,552 | +4.4% |
| Amounts payable | 17/49 | €62,185 | €65,576 | +€3,392 | +5.5% |
| Amounts payable within one year | 42/48 | €62,185 | €65,576 | +€3,392 | +5.5% |
| Trade debts | 44 | €19,020 | €19,676 | +€657 | +3.5% |
| Suppliers | 440/4 | €19,020 | €19,676 | +€657 | +3.5% |
| Taxes, remuneration and social security | 45 | €39,000 | €45,900 | +€6,900 | +17.7% |
| Taxes | 450/3 | €39,000 | €24,900 | -€14,100 | -36.2% |
| Remuneration and social security | 454/9 | - | €21,000 | +€21,000 | |
| Other amounts payable | 47/48 | €4,165 | - | -€4,165 | |
| Operating income | 70/76A | - | €4,165 | +€4,165 | |
| Other operating income | 74 | - | €4,165 | +€4,165 | |
| Operating charges | 60/66A | - | €175,753 | +€175,753 | |
| Services and other goods | 61 | - | €120,688 | +€120,688 | |
| Other operating charges | 640/8 | €968 | €55,066 | +€54,098 | +5591.4% |
| Gross operating margin | 9900 | -€82,770 | - | +€82,770 | |
| Operating profit (loss) | 9901 | -€83,738 | -€171,588 | -€87,850 | -104.9% |
| Financial income | 75/76B | €3,576,572 | €1,078,278 | -€2.5m | -69.9% |
| Recurring financial income | 75 | €3,576,572 | €1,078,278 | -€2.5m | -69.9% |
| Income from current assets | 751 | - | €961,956 | +€961,956 | |
| Other financial income | 752/9 | - | €116,322 | +€116,322 | |
| Financial charges | 65/66B | €59,621 | €51,385 | -€8,236 | -13.8% |
| Recurring financial charges | 65 | €59,621 | €51,385 | -€8,236 | -13.8% |
| Other financial charges | 652/9 | - | €51,385 | +€51,385 | |
| Profit (loss) for the period before taxes | 9903 | €3,433,214 | €855,305 | -€2.6m | -75.1% |
| Income taxes | 67/77 | €89,705 | €40,753 | -€48,952 | -54.6% |
| Taxes | 670/3 | - | €40,753 | +€40,753 | |
| Profit (loss) for the period | 9904 | €3,343,509 | €814,552 | -€2.5m | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,343,509 | €814,552 | -€2.5m | -75.6% |
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 9 October 2026 via checked.be.