PASSION FOR PRICING: 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.
PASSION FOR PRICING
Largest movements
- Cash +€112,018
up €112,018 (+88.7%), from €126,239 to €238,257
mainly Net result for the year (+€161,005) and Current investments (+€35,000)
- Current investments -€35,000
down €35,000 (-18.9%), from €185,000 to €150,000
- Receivables within one year -€10,914
down €10,914 (-12.9%), from €84,486 to €73,572
of which Trade receivables: -€6,968
- Reserves +€131,005
up €131,005 (+73.3%), from €178,662 to €309,667
- Other debts -€77,832
down €77,832 (-39.1%), from €199,158 to €121,325
- Tax, wage and social debts +€7,641
up €7,641 (+51.0%), from €14,991 to €22,631
- Gross operating margin -€20,248
down €20,248 (-8.4%), from €240,127 to €219,879
- Financial income +€16,360
new in 2025: €16,360
- Taxes +€9,270
up €9,270 (+16.5%), from €56,052 to €65,322
- Financial charges +€8,448
up €8,448 (+10,051%), from €84 to €8,532
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 | €400,161 | €465,035 | +€64,874 | +16.2% |
| Fixed assets | 21/28 | €4,436 | €3,206 | -€1,230 | -27.7% |
| Tangible fixed assets | 22/27 | €4,436 | €3,206 | -€1,230 | -27.7% |
| Plant, machinery and equipment | 23 | €4,436 | €3,206 | -€1,230 | -27.7% |
| Current assets | 29/58 | €395,725 | €461,829 | +€66,104 | +16.7% |
| Amounts receivable within one year | 40/41 | €84,486 | €73,572 | -€10,914 | -12.9% |
| Trade receivables | 40 | €80,532 | €73,565 | -€6,968 | -8.7% |
| Other amounts receivable | 41 | €3,953 | €7 | -€3,946 | -99.8% |
| Current investments | 50/53 | €185,000 | €150,000 | -€35,000 | -18.9% |
| Cash at bank and in hand | 54/58 | €126,239 | €238,257 | +€112,018 | +88.7% |
| Total equity and liabilities | 10/49 | €400,161 | €465,035 | +€64,874 | +16.2% |
| Equity | 10/15 | €184,662 | €315,667 | +€131,005 | +70.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €178,662 | €309,667 | +€131,005 | +73.3% |
| Distributable reserves | 133 | €178,662 | €309,667 | +€131,005 | +73.3% |
| Amounts payable | 17/49 | €215,499 | €149,367 | -€66,131 | -30.7% |
| Amounts payable within one year | 42/48 | €215,499 | €149,367 | -€66,131 | -30.7% |
| Trade debts | 44 | €1,351 | €5,411 | +€4,060 | +301% |
| Suppliers | 440/4 | €1,351 | €1,423 | +€72 | +5.4% |
| Bills of exchange payable | 441 | - | €3,988 | +€3,988 | |
| Taxes, remuneration and social security | 45 | €14,991 | €22,631 | +€7,641 | +51.0% |
| Taxes | 450/3 | €14,991 | €22,631 | +€7,641 | +51.0% |
| Other amounts payable | 47/48 | €199,158 | €121,325 | -€77,832 | -39.1% |
| Non-recurring operating income | 76A | €6,897 | €0 | -€6,897 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,230 | €1,230 | = | 0.0% |
| Other operating charges | 640/8 | €148 | €150 | +€2 | +1.4% |
| Gross operating margin | 9900 | €240,127 | €219,879 | -€20,248 | -8.4% |
| Operating profit (loss) | 9901 | €238,749 | €218,499 | -€20,250 | -8.5% |
| Financial income | 75/76B | - | €16,360 | +€16,360 | |
| Recurring financial income | 75 | - | €16,360 | +€16,360 | |
| Financial charges | 65/66B | €84 | €8,532 | +€8,448 | +10,051% |
| Recurring financial charges | 65 | €84 | €8,532 | +€8,448 | +10,051% |
| Profit (loss) for the period before taxes | 9903 | €238,665 | €226,327 | -€12,338 | -5.2% |
| Income taxes | 67/77 | €56,052 | €65,322 | +€9,270 | +16.5% |
| Profit (loss) for the period | 9904 | €182,613 | €161,005 | -€21,608 | -11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €182,613 | €161,005 | -€21,608 | -11.8% |
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 24 October 2026 via checked.be.