PRACTICING EXCELLENCE: 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.
PRACTICING EXCELLENCE
Largest movements
- Tangible fixed assets +€41,429
new in 2025: €41,429
- Cash +€34,180
up €34,180 (+36.9%), from €92,571 to €126,751
mainly Net result for the year (+€62,086) and Current investments (+€24,832)
- Current investments -€24,832
down €24,832 (-11.6%), from €214,101 to €189,269
- Receivables within one year +€14,689
new in 2025: €14,689
of which Trade receivables: +€14,681
- Reserves +€60,420
up €60,420 (+20.7%), from €291,210 to €351,631
- Tax, wage and social debts +€5,010
up €5,010 (+91.0%), from €5,504 to €10,514
of which Taxes: +€6,820
- Gross operating margin +€15,801
up €15,801 (+23.3%), from €67,708 to €83,510
- Financial charges +€4,126
up €4,126, from -€4,047 to €79
- Taxes +€3,871
up €3,871 (+19.9%), from €19,472 to €23,343
- Financial income +€2,818
up €2,818 (+111%), from €2,529 to €5,347
of which Financial income: +€2,819
- Depreciation +€1,345
up €1,345 (+240%), from €561 to €1,906
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 | €307,058 | €373,368 | +€66,310 | +21.6% |
| Fixed assets | 21/28 | - | €41,429 | +€41,429 | |
| Tangible fixed assets | 22/27 | - | €41,429 | +€41,429 | |
| Furniture and vehicles | 24 | - | €41,429 | +€41,429 | |
| Current assets | 29/58 | €307,058 | €331,939 | +€24,881 | +8.1% |
| Amounts receivable within one year | 40/41 | - | €14,689 | +€14,689 | |
| Trade receivables | 40 | - | €14,681 | +€14,681 | |
| Other amounts receivable | 41 | - | €8 | +€8 | |
| Current investments | 50/53 | €214,101 | €189,269 | -€24,832 | -11.6% |
| Cash at bank and in hand | 54/58 | €92,571 | €126,751 | +€34,180 | +36.9% |
| Deferred charges and accrued income | 490/1 | €386 | €1,231 | +€844 | +218% |
| Total equity and liabilities | 10/49 | €307,058 | €373,368 | +€66,310 | +21.6% |
| Equity | 10/15 | €297,410 | €357,831 | +€60,420 | +20.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €291,210 | €351,631 | +€60,420 | +20.7% |
| Distributable reserves | 133 | €291,210 | €351,631 | +€60,420 | +20.7% |
| Amounts payable | 17/49 | €9,648 | €15,537 | +€5,889 | +61.0% |
| Amounts payable within one year | 42/48 | €9,648 | €15,537 | +€5,889 | +61.0% |
| Trade debts | 44 | €2,478 | €3,170 | +€692 | +27.9% |
| Suppliers | 440/4 | €2,478 | €3,170 | +€692 | +27.9% |
| Taxes, remuneration and social security | 45 | €5,504 | €10,514 | +€5,010 | +91.0% |
| Taxes | 450/3 | €3,694 | €10,514 | +€6,820 | +185% |
| Remuneration and social security | 454/9 | €1,810 | - | -€1,810 | |
| Other amounts payable | 47/48 | €1,666 | €1,854 | +€188 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €561 | €1,906 | +€1,345 | +240% |
| Other operating charges | 640/8 | €1,161 | €1,443 | +€282 | +24.3% |
| Gross operating margin | 9900 | €67,708 | €83,510 | +€15,801 | +23.3% |
| Operating profit (loss) | 9901 | €65,986 | €80,161 | +€14,175 | +21.5% |
| Financial income | 75/76B | €2,529 | €5,347 | +€2,818 | +111% |
| Recurring financial income | 75 | €2,529 | €5,347 | +€2,819 | +111% |
| Non-recurring financial income | 76B | €0 | - | -€0 | |
| Financial charges | 65/66B | -€4,047 | €79 | +€4,126 | |
| Recurring financial charges | 65 | -€4,047 | €79 | +€4,126 | |
| Profit (loss) for the period before taxes | 9903 | €72,562 | €85,429 | +€12,867 | +17.7% |
| Income taxes | 67/77 | €19,472 | €23,343 | +€3,871 | +19.9% |
| Profit (loss) for the period | 9904 | €53,091 | €62,086 | +€8,996 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €53,091 | €62,086 | +€8,996 | +16.9% |
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 26 October 2026 via checked.be.