Q3T: 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.
Q3T
Largest movements
- Cash +€20,199
up €20,199 (+26.5%), from €76,117 to €96,316
mainly Net result for the year (+€47,276) and Depreciation (+€20,878)
- Receivables within one year +€14,247
up €14,247 (+687.8%), from €2,072 to €16,319
of which Trade receivables: +€8,159
- Intangible fixed assets -€11,222
down €11,222 (-28.7%), from €39,107 to €27,885
- Tangible fixed assets -€7,283
down €7,283 (-22.3%), from €32,656 to €25,374
of which Leasing and similar rights: -€6,529
- Deferred charges and accrued income -€3,304
down €3,304 (-37.0%), from €8,926 to €5,621
- Reserves +€47,276
up €47,276 (+106.6%), from €44,355 to €91,631
- Tax, wage and social debts -€17,161
down €17,161 (-91.9%), from €18,683 to €1,521
- Debts after one year -€14,832
down €14,832 (-22.2%), from €66,722 to €51,890
of which Other amounts payable: -€10,000
- Other debts -€2,041
down €2,041 (-11.8%), from €17,250 to €15,208
- Gross operating margin -€9,954
down €9,954 (-9.5%), from €105,070 to €95,116
- Taxes +€2,628
up €2,628 (+12.3%), from €21,305 to €23,932
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 | €160,712 | €173,350 | +€12,638 | +7.9% |
| Fixed assets | 21/28 | €73,598 | €55,094 | -€18,504 | -25.1% |
| Intangible fixed assets | 21 | €39,107 | €27,885 | -€11,222 | -28.7% |
| Tangible fixed assets | 22/27 | €32,656 | €25,374 | -€7,283 | -22.3% |
| Furniture and vehicles | 24 | €8,288 | €6,703 | -€1,586 | -19.1% |
| Leasing and similar rights | 25 | €21,714 | €15,186 | -€6,529 | -30.1% |
| Other tangible fixed assets | 26 | €2,654 | €3,485 | +€832 | +31.3% |
| Financial fixed assets | 28 | €1,835 | €1,835 | = | 0.0% |
| Current assets | 29/58 | €87,114 | €118,256 | +€31,142 | +35.7% |
| Amounts receivable within one year | 40/41 | €2,072 | €16,319 | +€14,247 | +687.8% |
| Trade receivables | 40 | €2,072 | €10,231 | +€8,159 | +393.9% |
| Other amounts receivable | 41 | - | €6,088 | +€6,088 | |
| Cash at bank and in hand | 54/58 | €76,117 | €96,316 | +€20,199 | +26.5% |
| Deferred charges and accrued income | 490/1 | €8,926 | €5,621 | -€3,304 | -37.0% |
| Total equity and liabilities | 10/49 | €160,712 | €173,350 | +€12,638 | +7.9% |
| Equity | 10/15 | €50,555 | €97,831 | +€47,276 | +93.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €44,355 | €91,631 | +€47,276 | +106.6% |
| Distributable reserves | 133 | €44,355 | €91,631 | +€47,276 | +106.6% |
| Amounts payable | 17/49 | €110,157 | €75,519 | -€34,638 | -31.4% |
| Amounts payable after more than one year | 17 | €66,722 | €51,890 | -€14,832 | -22.2% |
| Financial debts | 170/4 | €16,722 | €11,890 | -€4,832 | -28.9% |
| Other amounts payable | 178/9 | €50,000 | €40,000 | -€10,000 | -20.0% |
| Amounts payable within one year | 42/48 | €43,435 | €23,576 | -€19,859 | -45.7% |
| Current portion of amounts payable after more than one year | 42 | €4,505 | €4,832 | +€327 | +7.3% |
| Trade debts | 44 | €2,997 | €2,014 | -€984 | -32.8% |
| Suppliers | 440/4 | €2,997 | €2,014 | -€984 | -32.8% |
| Taxes, remuneration and social security | 45 | €18,683 | €1,521 | -€17,161 | -91.9% |
| Taxes | 450/3 | €18,683 | €1,521 | -€17,161 | -91.9% |
| Other amounts payable | 47/48 | €17,250 | €15,208 | -€2,041 | -11.8% |
| Accrued charges and deferred income | 492/3 | - | €53 | +€53 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,942 | €20,878 | -€64 | -0.3% |
| Other operating charges | 640/8 | €606 | €1,203 | +€597 | +98.5% |
| Gross operating margin | 9900 | €105,070 | €95,116 | -€9,954 | -9.5% |
| Operating profit (loss) | 9901 | €83,522 | €73,035 | -€10,487 | -12.6% |
| Financial income | 75/76B | €349 | €115 | -€234 | -67.0% |
| Recurring financial income | 75 | €349 | €115 | -€234 | -67.0% |
| Financial charges | 65/66B | €2,331 | €1,942 | -€389 | -16.7% |
| Recurring financial charges | 65 | €2,331 | €1,942 | -€389 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €81,540 | €71,208 | -€10,332 | -12.7% |
| Income taxes | 67/77 | €21,305 | €23,932 | +€2,628 | +12.3% |
| Profit (loss) for the period | 9904 | €60,236 | €47,276 | -€12,959 | -21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,236 | €47,276 | -€12,959 | -21.5% |
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 7 October 2026 via checked.be.