POWER FIVE: 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.
POWER FIVE
Largest movements
- Receivables within one year +€25,125
up €25,125 (+16.9%), from €148,310 to €173,435
- Cash -€8,654
down €8,654 (-39.8%), from €21,735 to €13,080
mainly Contributions, distributions and other (-€34,500) and Receivables within one year (-€25,125)
- Other debts +€32,775
up €32,775 (+12367.9%), from €265 to €33,040
- Reserves -€20,000
down €20,000 (-28.0%), from €71,360 to €51,360
of which Distributable reserves: -€20,000
- Accrued charges and deferred income -€9,329
no longer reported in 2025 (was €9,329)
- Tax, wage and social debts +€9,047
up €9,047 (+92.5%), from €9,781 to €18,828
- Trade debts +€3,795
new in 2025: €3,795
- Gross operating margin -€11,438
down €11,438 (-24.9%), from €45,904 to €34,466
- Taxes -€2,459
down €2,459 (-25.1%), from €9,781 to €7,322
- Financial charges -€1,543
down €1,543 (-82.4%), from €1,871 to €329
- Depreciation -€1,434
no longer reported in 2025 (was €1,434)
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 | €177,482 | €193,952 | +€16,470 | +9.3% |
| Fixed assets | 21/28 | €7,437 | €7,437 | = | 0.0% |
| Tangible fixed assets | 22/27 | €7,437 | €7,437 | = | 0.0% |
| Land and buildings | 22 | €7,437 | €7,437 | = | 0.0% |
| Current assets | 29/58 | €170,045 | €186,515 | +€16,470 | +9.7% |
| Amounts receivable within one year | 40/41 | €148,310 | €173,435 | +€25,125 | +16.9% |
| Other amounts receivable | 41 | €148,310 | €173,435 | +€25,125 | +16.9% |
| Cash at bank and in hand | 54/58 | €21,735 | €13,080 | -€8,654 | -39.8% |
| Total equity and liabilities | 10/49 | €177,482 | €193,952 | +€16,470 | +9.3% |
| Equity | 10/15 | €158,107 | €138,288 | -€19,819 | -12.5% |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Reserves | 13 | €71,360 | €51,360 | -€20,000 | -28.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €69,500 | €49,500 | -€20,000 | -28.8% |
| Profit (loss) carried forward | 14 | €79,310 | €79,492 | +€181 | +0.2% |
| Amounts payable | 17/49 | €19,375 | €55,664 | +€36,289 | +187.3% |
| Amounts payable within one year | 42/48 | €10,046 | €55,664 | +€45,617 | +454.1% |
| Trade debts | 44 | - | €3,795 | +€3,795 | |
| Suppliers | 440/4 | - | €3,795 | +€3,795 | |
| Taxes, remuneration and social security | 45 | €9,781 | €18,828 | +€9,047 | +92.5% |
| Taxes | 450/3 | €9,781 | €18,828 | +€9,047 | +92.5% |
| Other amounts payable | 47/48 | €265 | €33,040 | +€32,775 | +12367.9% |
| Accrued charges and deferred income | 492/3 | €9,329 | - | -€9,329 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,434 | - | -€1,434 | |
| Other operating charges | 640/8 | €11,685 | €12,134 | +€449 | +3.8% |
| Gross operating margin | 9900 | €45,904 | €34,466 | -€11,438 | -24.9% |
| Operating profit (loss) | 9901 | €32,785 | €22,332 | -€10,453 | -31.9% |
| Financial charges | 65/66B | €1,871 | €329 | -€1,543 | -82.4% |
| Recurring financial charges | 65 | €1,871 | €329 | -€1,543 | -82.4% |
| Profit (loss) for the period before taxes | 9903 | €30,914 | €22,004 | -€8,910 | -28.8% |
| Income taxes | 67/77 | €9,781 | €7,322 | -€2,459 | -25.1% |
| Profit (loss) for the period | 9904 | €21,133 | €14,681 | -€6,451 | -30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,133 | €14,681 | -€6,451 | -30.5% |
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 29 September 2026 via checked.be.