R & I: 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 & I
Largest movements
- Tangible fixed assets -€23,684
down €23,684 (-5.8%), from €407,116 to €383,432
- Receivables within one year +€13,312
up €13,312 (+28.5%), from €46,784 to €60,096
- Debts after one year -€21,038
down €21,038 (-6.3%), from €333,742 to €312,703
- Reserves +€6,341
up €6,341 (+8.9%), from €71,318 to €77,659
- Gross operating margin +€8,822
up €8,822 (+16.7%), from €52,970 to €61,791
- Taxes +€2,879
up €2,879 (+46.7%), from €6,168 to €9,048
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 | €457,097 | €448,390 | -€8,707 | -1.9% |
| Fixed assets | 21/28 | €407,116 | €383,432 | -€23,684 | -5.8% |
| Tangible fixed assets | 22/27 | €407,116 | €383,432 | -€23,684 | -5.8% |
| Land and buildings | 22 | €407,116 | €383,432 | -€23,684 | -5.8% |
| Current assets | 29/58 | €49,981 | €64,958 | +€14,977 | +30.0% |
| Amounts receivable within one year | 40/41 | €46,784 | €60,096 | +€13,312 | +28.5% |
| Other amounts receivable | 41 | €46,784 | €60,096 | +€13,312 | +28.5% |
| Cash at bank and in hand | 54/58 | €619 | €1,972 | +€1,353 | +218.4% |
| Deferred charges and accrued income | 490/1 | €2,578 | €2,890 | +€312 | +12.1% |
| Total equity and liabilities | 10/49 | €457,097 | €448,390 | -€8,707 | -1.9% |
| Equity | 10/15 | €78,818 | €85,159 | +€6,341 | +8.0% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €71,318 | €77,659 | +€6,341 | +8.9% |
| Distributable reserves | 133 | €71,318 | €77,659 | +€6,341 | +8.9% |
| Amounts payable | 17/49 | €378,279 | €363,232 | -€15,048 | -4.0% |
| Amounts payable after more than one year | 17 | €333,742 | €312,703 | -€21,038 | -6.3% |
| Financial debts | 170/4 | €333,742 | €312,703 | -€21,038 | -6.3% |
| Amounts payable within one year | 42/48 | €41,963 | €47,894 | +€5,932 | +14.1% |
| Current portion of amounts payable after more than one year | 42 | €20,647 | €21,038 | +€392 | +1.9% |
| Trade debts | 44 | €1,216 | €407 | -€809 | -66.5% |
| Suppliers | 440/4 | €1,216 | €407 | -€809 | -66.5% |
| Taxes, remuneration and social security | 45 | €12,001 | €15,216 | +€3,215 | +26.8% |
| Taxes | 450/3 | €12,001 | €15,216 | +€3,215 | +26.8% |
| Other amounts payable | 47/48 | €8,098 | €11,233 | +€3,135 | +38.7% |
| Accrued charges and deferred income | 492/3 | €2,575 | €2,634 | +€59 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,394 | €23,684 | +€290 | +1.2% |
| Other operating charges | 640/8 | €5,822 | €6,003 | +€181 | +3.1% |
| Gross operating margin | 9900 | €52,970 | €61,791 | +€8,822 | +16.7% |
| Operating profit (loss) | 9901 | €23,754 | €32,104 | +€8,351 | +35.2% |
| Financial income | 75/76B | €1,437 | €1,148 | -€289 | -20.1% |
| Recurring financial income | 75 | €1,437 | €1,148 | -€289 | -20.1% |
| Financial charges | 65/66B | €6,975 | €6,657 | -€318 | -4.6% |
| Recurring financial charges | 65 | €6,975 | €6,657 | -€318 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €18,216 | €26,596 | +€8,380 | +46.0% |
| Income taxes | 67/77 | €6,168 | €9,048 | +€2,879 | +46.7% |
| Profit (loss) for the period | 9904 | €12,047 | €17,548 | +€5,501 | +45.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,047 | €17,548 | +€5,501 | +45.7% |
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 10 October 2026 via checked.be.