Qualitative Ideas: 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.
Qualitative Ideas
Largest movements
- Tangible fixed assets -€106,320
down €106,320 (-86.5%), from €122,921 to €16,601
- Cash -€25,120
down €25,120 (-68.4%), from €36,709 to €11,589
mainly Contributions, distributions and other (-€112,700) and Debts after one year (-€73,643)
- Receivables within one year -€10,667
down €10,667 (-10.6%), from €100,692 to €90,025
of which Trade receivables: -€19,602
- Reserves -€74,000
down €74,000 (-26.3%), from €281,160 to €207,160
of which Distributable reserves: -€74,000
- Debts after one year -€73,643
no longer reported in 2025 (was €73,643)
- Other debts +€66,093
up €66,093 (+54.2%), from €121,921 to €188,014
- Tax, wage and social debts -€29,293
down €29,293 (-72.4%), from €40,451 to €11,158
of which Taxes: -€20,293
- Current portion of long-term debt -€28,648
no longer reported in 2025 (was €28,648)
- Gross operating margin -€52,021
down €52,021 (-33.7%), from €154,224 to €102,202
- Taxes -€22,484
down €22,484 (-53.9%), from €41,689 to €19,205
- Other operating charges +€19,244
up €19,244 (+161.7%), from €11,902 to €31,146
- Depreciation -€18,480
down €18,480 (-69.0%), from €26,780 to €8,300
- Financial income -€3,665
no longer reported in 2025 (was €3,665)
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 | €600,848 | €456,385 | -€144,463 | -24.0% |
| Fixed assets | 21/28 | €461,091 | €354,771 | -€106,320 | -23.1% |
| Tangible fixed assets | 22/27 | €122,921 | €16,601 | -€106,320 | -86.5% |
| Furniture and vehicles | 24 | €122,921 | €16,601 | -€106,320 | -86.5% |
| Financial fixed assets | 28 | €338,170 | €338,170 | = | 0.0% |
| Current assets | 29/58 | €139,757 | €101,615 | -€38,143 | -27.3% |
| Amounts receivable within one year | 40/41 | €100,692 | €90,025 | -€10,667 | -10.6% |
| Trade receivables | 40 | €66,190 | €46,588 | -€19,602 | -29.6% |
| Other amounts receivable | 41 | €34,502 | €43,437 | +€8,935 | +25.9% |
| Cash at bank and in hand | 54/58 | €36,709 | €11,589 | -€25,120 | -68.4% |
| Deferred charges and accrued income | 490/1 | €2,356 | - | -€2,356 | |
| Total equity and liabilities | 10/49 | €600,848 | €456,385 | -€144,463 | -24.0% |
| Equity | 10/15 | €328,617 | €254,633 | -€73,983 | -22.5% |
| Contributions | 10/11 | €6,204 | €6,204 | = | 0.0% |
| Reserves | 13 | €281,160 | €207,160 | -€74,000 | -26.3% |
| 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 | €279,300 | €205,300 | -€74,000 | -26.5% |
| Profit (loss) carried forward | 14 | €41,252 | €41,269 | +€17 | 0.0% |
| Amounts payable | 17/49 | €272,232 | €201,752 | -€70,480 | -25.9% |
| Amounts payable after more than one year | 17 | €73,643 | - | -€73,643 | |
| Financial debts | 170/4 | €73,643 | - | -€73,643 | |
| Amounts payable within one year | 42/48 | €198,588 | €201,752 | +€3,164 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €28,648 | - | -€28,648 | |
| Trade debts | 44 | €7,569 | €2,580 | -€4,989 | -65.9% |
| Suppliers | 440/4 | €7,569 | €2,580 | -€4,989 | -65.9% |
| Taxes, remuneration and social security | 45 | €40,451 | €11,158 | -€29,293 | -72.4% |
| Taxes | 450/3 | €31,451 | €11,158 | -€20,293 | -64.5% |
| Remuneration and social security | 454/9 | €9,000 | - | -€9,000 | |
| Other amounts payable | 47/48 | €121,921 | €188,014 | +€66,093 | +54.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,780 | €8,300 | -€18,480 | -69.0% |
| Other operating charges | 640/8 | €11,902 | €31,146 | +€19,244 | +161.7% |
| Gross operating margin | 9900 | €154,224 | €102,202 | -€52,021 | -33.7% |
| Operating profit (loss) | 9901 | €115,542 | €62,756 | -€52,786 | -45.7% |
| Financial income | 75/76B | €3,665 | - | -€3,665 | |
| Recurring financial income | 75 | €3,665 | - | -€3,665 | |
| Financial charges | 65/66B | €3,580 | €4,835 | +€1,255 | +35.1% |
| Recurring financial charges | 65 | €3,580 | €4,835 | +€1,255 | +35.1% |
| Profit (loss) for the period before taxes | 9903 | €115,627 | €57,921 | -€57,706 | -49.9% |
| Income taxes | 67/77 | €41,689 | €19,205 | -€22,484 | -53.9% |
| Profit (loss) for the period | 9904 | €73,938 | €38,717 | -€35,222 | -47.6% |
| Profit (loss) for the period to be appropriated | 9905 | €73,938 | €38,717 | -€35,222 | -47.6% |
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 12 October 2026 via checked.be.