Plan F: what changed
Two fiscal 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 F
Largest movements
- Current investments +€51,634
up €51,634 (+13.1%), from €394,921 to €446,555
- Receivables within one year -€48,975
down €48,975 (-25.6%), from €191,650 to €142,675
of which Other amounts receivable: -€56,083
- Cash -€27,178
down €27,178 (-60.6%), from €44,825 to €17,646
mainly Current investments (-€51,634) and Net result for the year (-€32,350)
- Profit (loss) carried forward -€32,350
down €32,350 (-7.5%), from €431,244 to €398,894
- Staff costs +€48,528
up €48,528 (+6.3%), from €770,750 to €819,278
- Gross operating margin -€31,807
down €31,807 (-3.7%), from €852,148 to €820,341
- Turnover -€30,535
down €30,535 (-6.6%), from €462,805 to €432,270
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 | €884,567 | €865,456 | -€19,111 | -2.2% |
| Fixed assets | 21/28 | €249,699 | €246,295 | -€3,403 | -1.4% |
| Tangible fixed assets | 22/27 | €249,699 | €246,295 | -€3,403 | -1.4% |
| Land and buildings | 22 | €245,095 | €224,806 | -€20,289 | -8.3% |
| Plant, machinery and equipment | 23 | €1,165 | €17,918 | +€16,752 | +1437.4% |
| Furniture and vehicles | 24 | €3,438 | €3,572 | +€134 | +3.9% |
| Current assets | 29/58 | €634,868 | €619,161 | -€15,707 | -2.5% |
| Amounts receivable within one year | 40/41 | €191,650 | €142,675 | -€48,975 | -25.6% |
| Trade receivables | 40 | €77,875 | €84,983 | +€7,108 | +9.1% |
| Other amounts receivable | 41 | €113,775 | €57,692 | -€56,083 | -49.3% |
| Current investments | 50/53 | €394,921 | €446,555 | +€51,634 | +13.1% |
| Cash at bank and in hand | 54/58 | €44,825 | €17,646 | -€27,178 | -60.6% |
| Deferred charges and accrued income | 490/1 | €3,472 | €12,285 | +€8,813 | +253.8% |
| Total equity and liabilities | 10/49 | €884,567 | €865,456 | -€19,111 | -2.2% |
| Equity | 10/15 | €772,702 | €740,352 | -€32,350 | -4.2% |
| Revaluation surpluses | 12 | €145,758 | €145,758 | = | 0.0% |
| Reserves | 13 | €195,700 | €195,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €431,244 | €398,894 | -€32,350 | -7.5% |
| Investment grants | 15 | - | €0 | = | |
| Amounts payable | 17/49 | €111,865 | €125,104 | +€13,239 | +11.8% |
| Amounts payable within one year | 42/48 | €111,082 | €123,596 | +€12,514 | +11.3% |
| Trade debts | 44 | €24,917 | €29,255 | +€4,338 | +17.4% |
| Suppliers | 440/4 | €24,917 | €29,255 | +€4,338 | +17.4% |
| Taxes, remuneration and social security | 45 | €86,165 | €94,341 | +€8,176 | +9.5% |
| Remuneration and social security | 454/9 | €86,165 | €94,341 | +€8,176 | +9.5% |
| Accrued charges and deferred income | 492/3 | €783 | €1,508 | +€725 | +92.7% |
| Turnover | 70 | €462,805 | €432,270 | -€30,535 | -6.6% |
| Non-recurring operating income | 76A | €8,521 | €0 | -€8,521 | -100.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €345,798 | €347,015 | +€1,217 | +0.4% |
| Remuneration, social security and pensions | 62 | €770,750 | €819,278 | +€48,528 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,468 | €29,798 | +€3,330 | +12.6% |
| Other operating charges | 640/8 | €3,393 | €3,661 | +€269 | +7.9% |
| Non-recurring operating charges | 66A | - | €35 | +€35 | |
| Gross operating margin | 9900 | €852,148 | €820,341 | -€31,807 | -3.7% |
| Operating profit (loss) | 9901 | €51,537 | -€32,432 | -€83,969 | |
| Financial income | 75/76B | €3,418 | €3,627 | +€208 | +6.1% |
| Recurring financial income | 75 | €3,418 | €3,627 | +€208 | +6.1% |
| Financial charges | 65/66B | €2,704 | €2,463 | -€241 | -8.9% |
| Recurring financial charges | 65 | €2,704 | €2,463 | -€241 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €52,251 | -€31,269 | -€83,519 | |
| Income taxes | 67/77 | €1,016 | €1,081 | +€65 | +6.4% |
| Profit (loss) for the period | 9904 | €51,234 | -€32,350 | -€83,584 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,234 | -€32,350 | -€83,584 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.