Plan A: 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.
Plan A
Largest movements
- Cash -€280,191
down €280,191 (-59.8%), from €468,746 to €188,555
mainly Contributions, distributions and other (-€605,222) and Investment in fixed assets (net) (-€10,339)
- Receivables within one year -€24,533
down €24,533 (-60.9%), from €40,303 to €15,770
of which Other amounts receivable: -€17,378
- Reserves -€499,802
down €499,802 (-99.8%), from €500,780 to €978
- Other debts +€196,793
up €196,793 (+3512.1%), from €5,603 to €202,397
- Gross operating margin -€98,097
down €98,097 (-40.2%), from €244,231 to €146,134
- Taxes -€25,716
down €25,716 (-46.2%), from €55,681 to €29,965
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 | €547,576 | €241,384 | -€306,192 | -55.9% |
| Fixed assets | 21/28 | €37,070 | €35,415 | -€1,655 | -4.5% |
| Tangible fixed assets | 22/27 | €37,070 | €35,415 | -€1,655 | -4.5% |
| Plant, machinery and equipment | 23 | €1,090 | €1,057 | -€33 | -3.1% |
| Furniture and vehicles | 24 | €35,980 | €34,358 | -€1,621 | -4.5% |
| Current assets | 29/58 | €510,506 | €205,969 | -€304,537 | -59.7% |
| Amounts receivable within one year | 40/41 | €40,303 | €15,770 | -€24,533 | -60.9% |
| Trade receivables | 40 | €9,605 | €2,450 | -€7,155 | -74.5% |
| Other amounts receivable | 41 | €30,698 | €13,320 | -€17,378 | -56.6% |
| Cash at bank and in hand | 54/58 | €468,746 | €188,555 | -€280,191 | -59.8% |
| Deferred charges and accrued income | 490/1 | €1,457 | €1,644 | +€186 | +12.8% |
| Total equity and liabilities | 10/49 | €547,576 | €241,384 | -€306,192 | -55.9% |
| Equity | 10/15 | €519,380 | €19,578 | -€499,802 | -96.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €500,780 | €978 | -€499,802 | -99.8% |
| Distributable reserves | 133 | €500,780 | €978 | -€499,802 | -99.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €28,196 | €221,806 | +€193,610 | +686.7% |
| Amounts payable within one year | 42/48 | €28,196 | €221,806 | +€193,610 | +686.7% |
| Trade debts | 44 | €14,912 | €11,726 | -€3,186 | -21.4% |
| Suppliers | 440/4 | €14,912 | €11,726 | -€3,186 | -21.4% |
| Taxes, remuneration and social security | 45 | €7,681 | €7,684 | +€3 | 0.0% |
| Taxes | 450/3 | €7,681 | €7,684 | +€3 | 0.0% |
| Other amounts payable | 47/48 | €5,603 | €202,397 | +€196,793 | +3512.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,007 | €11,994 | -€13 | -0.1% |
| Other operating charges | 640/8 | €945 | €1,210 | +€266 | +28.1% |
| Gross operating margin | 9900 | €244,231 | €146,134 | -€98,097 | -40.2% |
| Operating profit (loss) | 9901 | €231,280 | €132,930 | -€98,350 | -42.5% |
| Financial income | 75/76B | €482 | €2,607 | +€2,125 | +440.4% |
| Recurring financial income | 75 | €482 | €2,607 | +€2,125 | +440.4% |
| Financial charges | 65/66B | €168 | €152 | -€16 | -9.5% |
| Recurring financial charges | 65 | €168 | €152 | -€16 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €231,594 | €135,385 | -€96,209 | -41.5% |
| Income taxes | 67/77 | €55,681 | €29,965 | -€25,716 | -46.2% |
| Profit (loss) for the period | 9904 | €175,913 | €105,420 | -€70,493 | -40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €175,913 | €105,420 | -€70,493 | -40.1% |
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.