Positive Sum: 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.
Positive Sum
Largest movements
- Current investments -€78,948
down €78,948 (-52.4%), from €150,775 to €71,827
- Receivables within one year -€23,197
down €23,197 (-53.0%), from €43,795 to €20,598
of which Other amounts receivable: -€24,710
- Cash -€12,131
down €12,131 (-32.3%), from €37,599 to €25,467
mainly Contributions, distributions and other (-€266,985) and Debts after one year (-€9,486)
- Reserves -€172,816
no longer reported in 2025 (was €172,816)
- Other debts +€62,678
up €62,678 (+179.1%), from €35,000 to €97,678
- Debts after one year -€9,486
down €9,486 (-41.9%), from €22,641 to €13,155
- Current portion of long-term debt +€2,754
up €2,754 (+72.9%), from €3,779 to €6,533
- Financial income +€27,471
up €27,471 (+1122.8%), from €2,447 to €29,918
- Gross operating margin -€3,619
down €3,619 (-3.7%), from €98,184 to €94,566
- Depreciation +€1,686
up €1,686 (+78.7%), from €2,142 to €3,829
- Taxes -€1,341
down €1,341 (-5.5%), from €24,528 to €23,186
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 | €254,786 | €136,629 | -€118,157 | -46.4% |
| Fixed assets | 21/28 | €19,099 | €16,854 | -€2,245 | -11.8% |
| Tangible fixed assets | 22/27 | €18,974 | €16,729 | -€2,245 | -11.8% |
| Plant, machinery and equipment | 23 | €721 | €100 | -€621 | -86.1% |
| Furniture and vehicles | 24 | €1,388 | €1,484 | +€95 | +6.9% |
| Other tangible fixed assets | 26 | €16,865 | €15,145 | -€1,720 | -10.2% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €235,687 | €119,775 | -€115,912 | -49.2% |
| Amounts receivable within one year | 40/41 | €43,795 | €20,598 | -€23,197 | -53.0% |
| Trade receivables | 40 | €17,545 | €19,058 | +€1,513 | +8.6% |
| Other amounts receivable | 41 | €26,250 | €1,540 | -€24,710 | -94.1% |
| Current investments | 50/53 | €150,775 | €71,827 | -€78,948 | -52.4% |
| Cash at bank and in hand | 54/58 | €37,599 | €25,467 | -€12,131 | -32.3% |
| Deferred charges and accrued income | 490/1 | €3,517 | €1,883 | -€1,635 | -46.5% |
| Total equity and liabilities | 10/49 | €254,786 | €136,629 | -€118,157 | -46.4% |
| Equity | 10/15 | €174,816 | €2,000 | -€172,816 | -98.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €172,816 | - | -€172,816 | |
| Distributable reserves | 133 | €172,816 | - | -€172,816 | |
| Amounts payable | 17/49 | €79,970 | €134,629 | +€54,659 | +68.3% |
| Amounts payable after more than one year | 17 | €22,641 | €13,155 | -€9,486 | -41.9% |
| Financial debts | 170/4 | €22,641 | €13,155 | -€9,486 | -41.9% |
| Amounts payable within one year | 42/48 | €57,329 | €121,474 | +€64,145 | +111.9% |
| Current portion of amounts payable after more than one year | 42 | €3,779 | €6,533 | +€2,754 | +72.9% |
| Financial debts | 43 | €19 | €21 | +€2 | +10.0% |
| Credit institutions | 430/8 | €19 | €21 | +€2 | +10.0% |
| Trade debts | 44 | €262 | €1,102 | +€840 | +320.1% |
| Suppliers | 440/4 | €262 | €1,102 | +€840 | +320.1% |
| Taxes, remuneration and social security | 45 | €18,268 | €16,139 | -€2,129 | -11.7% |
| Taxes | 450/3 | €18,268 | €16,139 | -€2,129 | -11.7% |
| Other amounts payable | 47/48 | €35,000 | €97,678 | +€62,678 | +179.1% |
| Non-recurring operating income | 76A | €509 | - | -€509 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,142 | €3,829 | +€1,686 | +78.7% |
| Other operating charges | 640/8 | €562 | €573 | +€11 | +2.0% |
| Gross operating margin | 9900 | €98,184 | €94,566 | -€3,619 | -3.7% |
| Operating profit (loss) | 9901 | €95,480 | €90,165 | -€5,316 | -5.6% |
| Financial income | 75/76B | €2,447 | €29,918 | +€27,471 | +1122.8% |
| Recurring financial income | 75 | €2,447 | €29,918 | +€27,471 | +1122.8% |
| Financial charges | 65/66B | €2,506 | €2,727 | +€221 | +8.8% |
| Recurring financial charges | 65 | €2,506 | €2,727 | +€221 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €95,421 | €117,356 | +€21,935 | +23.0% |
| Income taxes | 67/77 | €24,528 | €23,186 | -€1,341 | -5.5% |
| Profit (loss) for the period | 9904 | €70,893 | €94,169 | +€23,276 | +32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €70,893 | €94,169 | +€23,276 | +32.8% |
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 3 October 2026 via checked.be.