PRAXI: 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.
PRAXI
Largest movements
- Tangible fixed assets -€135,325
down €135,325 (-31.7%), from €427,046 to €291,721
of which Land and buildings: -€128,912
- Cash +€130,686
up €130,686 (+1688.8%), from €7,738 to €138,424
mainly Net result for the year (+€297,577) and Investment in fixed assets (net) (+€109,278)
- Current investments +€128,587
up €128,587 (+493.5%), from €26,054 to €154,642
- Reserves +€225,170
up €225,170 (+101.5%), from €221,736 to €446,906
- Debts after one year -€116,394
down €116,394 (-63.6%), from €182,886 to €66,492
- Other debts +€19,186
new in 2025: €19,186
- Current portion of long-term debt -€12,500
down €12,500 (-24.5%), from €50,989 to €38,489
- Gross operating margin +€362,939
up €362,939 (+324.0%), from €112,017 to €474,956
- Taxes +€117,762
up €117,762 (+693.6%), from €16,979 to €134,741
- Depreciation -€13,628
down €13,628 (-34.3%), from €39,675 to €26,048
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 | €485,890 | €604,415 | +€118,525 | +24.4% |
| Fixed assets | 21/28 | €427,046 | €291,721 | -€135,325 | -31.7% |
| Tangible fixed assets | 22/27 | €427,046 | €291,721 | -€135,325 | -31.7% |
| Land and buildings | 22 | €412,226 | €283,314 | -€128,912 | -31.3% |
| Furniture and vehicles | 24 | €14,820 | €8,407 | -€6,413 | -43.3% |
| Current assets | 29/58 | €58,844 | €312,694 | +€253,850 | +431.4% |
| Amounts receivable within one year | 40/41 | €15,351 | €15,290 | -€61 | -0.4% |
| Trade receivables | 40 | €14,761 | €15,290 | +€528 | +3.6% |
| Other amounts receivable | 41 | €589 | - | -€589 | |
| Current investments | 50/53 | €26,054 | €154,642 | +€128,587 | +493.5% |
| Cash at bank and in hand | 54/58 | €7,738 | €138,424 | +€130,686 | +1688.8% |
| Deferred charges and accrued income | 490/1 | €9,701 | €4,338 | -€5,363 | -55.3% |
| Total equity and liabilities | 10/49 | €485,890 | €604,415 | +€118,525 | +24.4% |
| Equity | 10/15 | €240,286 | €465,456 | +€225,170 | +93.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €221,736 | €446,906 | +€225,170 | +101.5% |
| Distributable reserves | 133 | €221,736 | €446,906 | +€225,170 | +101.5% |
| Amounts payable | 17/49 | €245,604 | €138,959 | -€106,645 | -43.4% |
| Amounts payable after more than one year | 17 | €182,886 | €66,492 | -€116,394 | -63.6% |
| Financial debts | 170/4 | €182,886 | €66,492 | -€116,394 | -63.6% |
| Amounts payable within one year | 42/48 | €62,253 | €68,947 | +€6,694 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €50,989 | €38,489 | -€12,500 | -24.5% |
| Trade debts | 44 | €5,842 | €341 | -€5,501 | -94.2% |
| Suppliers | 440/4 | €5,842 | €341 | -€5,501 | -94.2% |
| Taxes, remuneration and social security | 45 | €5,422 | €10,930 | +€5,508 | +101.6% |
| Taxes | 450/3 | €5,422 | €10,930 | +€5,508 | +101.6% |
| Other amounts payable | 47/48 | - | €19,186 | +€19,186 | |
| Accrued charges and deferred income | 492/3 | €466 | €3,520 | +€3,054 | +656.0% |
| Non-recurring operating income | 76A | - | €382,710 | +€382,710 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,675 | €26,048 | -€13,628 | -34.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,001 | - | +€1,001 | |
| Other operating charges | 640/8 | €5,968 | €4,507 | -€1,461 | -24.5% |
| Gross operating margin | 9900 | €112,017 | €474,956 | +€362,939 | +324.0% |
| Operating profit (loss) | 9901 | €67,375 | €444,401 | +€377,026 | +559.6% |
| Financial income | 75/76B | €354 | €360 | +€7 | +2.0% |
| Recurring financial income | 75 | €354 | €360 | +€7 | +2.0% |
| Financial charges | 65/66B | €11,374 | €12,443 | +€1,068 | +9.4% |
| Recurring financial charges | 65 | €11,374 | €12,443 | +€1,068 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €56,354 | €432,319 | +€375,965 | +667.1% |
| Income taxes | 67/77 | €16,979 | €134,741 | +€117,762 | +693.6% |
| Profit (loss) for the period | 9904 | €39,375 | €297,577 | +€258,202 | +655.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,375 | €297,577 | +€258,202 | +655.7% |
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.