R en B: 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.
R en B
Largest movements
- Tangible fixed assets -€89,388
down €89,388 (-45.1%), from €198,303 to €108,916
of which Furniture and vehicles: -€99,851
- Cash -€25,176
down €25,176 (-33.3%), from €75,522 to €50,346
- Receivables after one year -€19,787
no longer reported in 2025 (was €19,787)
- Current investments -€16,990
down €16,990 (-12.1%), from €140,638 to €123,648
- Receivables within one year +€12,362
up €12,362 (+4.2%), from €296,371 to €308,733
of which Other amounts receivable: +€65,148
- Tax, wage and social debts -€57,971
down €57,971 (-93.8%), from €61,775 to €3,805
of which Remuneration and social security: -€55,763
- Reserves -€43,278
down €43,278 (-8.3%), from €519,801 to €476,523
of which Distributable reserves: -€43,278
- Trade debts -€31,495
down €31,495 (-71.8%), from €43,854 to €12,358
- Contributions +€31,400
up €31,400 (+169%), from €18,600 to €50,000
- Debts after one year -€22,802
down €22,802 (-42.5%), from €53,610 to €30,808
- Gross operating margin -€137,028
down €137,028 (-54.3%), from €252,139 to €115,111
- Staff costs -€70,194
down €70,194 (-49.6%), from €141,400 to €71,206
- Taxes -€28,046
down €28,046, from €15,000 to -€13,046
- Financial income +€17,298
new in 2025: €17,298
of which Financial income: +€14,601
- Depreciation -€7,275
down €7,275 (-10.6%), from €68,755 to €61,481
From the 2022 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €734,058 | €593,746 | -€140,312 | -19.1% |
| Fixed assets | 21/28 | €199,246 | €109,859 | -€89,388 | -44.9% |
| Tangible fixed assets | 22/27 | €198,303 | €108,916 | -€89,388 | -45.1% |
| Land and buildings | 22 | €14,329 | €9,829 | -€4,500 | -31.4% |
| Plant, machinery and equipment | 23 | €27,407 | €26,279 | -€1,128 | -4.1% |
| Furniture and vehicles | 24 | €123,787 | €23,936 | -€99,851 | -80.7% |
| Leasing and similar rights | 25 | €32,780 | €48,872 | +€16,091 | +49.1% |
| Financial fixed assets | 28 | €943 | €943 | = | 0.0% |
| Current assets | 29/58 | €534,812 | €483,887 | -€50,925 | -9.5% |
| Amounts receivable after more than one year | 29 | €19,787 | - | -€19,787 | |
| Trade receivables | 290 | €19,787 | - | -€19,787 | |
| Amounts receivable within one year | 40/41 | €296,371 | €308,733 | +€12,362 | +4.2% |
| Trade receivables | 40 | €167,212 | €114,427 | -€52,785 | -31.6% |
| Other amounts receivable | 41 | €129,159 | €194,306 | +€65,148 | +50.4% |
| Current investments | 50/53 | €140,638 | €123,648 | -€16,990 | -12.1% |
| Cash at bank and in hand | 54/58 | €75,522 | €50,346 | -€25,176 | -33.3% |
| Deferred charges and accrued income | 490/1 | €2,493 | €1,160 | -€1,334 | -53.5% |
| Total equity and liabilities | 10/49 | €734,058 | €593,746 | -€140,312 | -19.1% |
| Equity | 10/15 | €538,401 | €526,523 | -€11,878 | -2.2% |
| Contributions | 10/11 | €18,600 | €50,000 | +€31,400 | +169% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €519,801 | €476,523 | -€43,278 | -8.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | €34,636 | €34,636 | = | 0.0% |
| Distributable reserves | 133 | €483,305 | €440,028 | -€43,278 | -9.0% |
| Provisions and deferred taxes | 16 | €6,687 | €6,687 | = | 0.0% |
| Deferred taxes | 168 | €6,687 | €6,687 | = | 0.0% |
| Amounts payable | 17/49 | €188,971 | €60,536 | -€128,435 | -68.0% |
| Amounts payable after more than one year | 17 | €53,610 | €30,808 | -€22,802 | -42.5% |
| Financial debts | 170/4 | €53,610 | €30,808 | -€22,802 | -42.5% |
| Amounts payable within one year | 42/48 | €135,361 | €29,728 | -€105,633 | -78.0% |
| Current portion of amounts payable after more than one year | 42 | €29,732 | €13,565 | -€16,167 | -54.4% |
| Trade debts | 44 | €43,854 | €12,358 | -€31,495 | -71.8% |
| Suppliers | 440/4 | €43,854 | €12,358 | -€31,495 | -71.8% |
| Taxes, remuneration and social security | 45 | €61,775 | €3,805 | -€57,971 | -93.8% |
| Taxes | 450/3 | €3,018 | €811 | -€2,207 | -73.1% |
| Remuneration and social security | 454/9 | €58,757 | €2,994 | -€55,763 | -94.9% |
| Remuneration, social security and pensions | 62 | €141,400 | €71,206 | -€70,194 | -49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,755 | €61,481 | -€7,275 | -10.6% |
| Other operating charges | 640/8 | €2,657 | €6,549 | +€3,893 | +147% |
| Gross operating margin | 9900 | €252,139 | €115,111 | -€137,028 | -54.3% |
| Operating profit (loss) | 9901 | €39,327 | -€24,125 | -€63,452 | |
| Financial income | 75/76B | - | €17,298 | +€17,298 | |
| Recurring financial income | 75 | - | €14,601 | +€14,601 | |
| Non-recurring financial income | 76B | - | €2,696 | +€2,696 | |
| Financial charges | 65/66B | €3,638 | €4,527 | +€888 | +24.4% |
| Recurring financial charges | 65 | €3,638 | €4,527 | +€888 | +24.4% |
| Profit (loss) for the period before taxes | 9903 | €35,689 | -€11,354 | -€47,042 | |
| Income taxes | 67/77 | €15,000 | -€13,046 | -€28,046 | |
| Profit (loss) for the period | 9904 | €20,689 | €1,693 | -€18,996 | -91.8% |
| Profit (loss) for the period to be appropriated | 9905 | €20,689 | €1,693 | -€18,996 | -91.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.