R68: 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.
R68
Largest movements
- Cash +€382,707
up €382,707 (+27.5%), from €1.4m to €1.8m
mainly Net result for the year (+€628,834) and Trade debts (+€105,470)
- Tangible fixed assets +€199,263
up €199,263 (+6.4%), from €3.1m to €3.3m
of which Land and buildings: +€202,761
- Reserves +€628,834
up €628,834 (+15.8%), from €4.0m to €4.6m
- Debts after one year -€203,411
down €203,411 (-25.1%), from €809,628 to €606,217
- Trade debts +€105,470
up €105,470 (+3547.2%), from €2,973 to €108,443
- Gross operating margin +€83,669
up €83,669 (+9.8%), from €855,894 to €939,564
- Taxes +€18,729
up €18,729 (+9.5%), from €198,088 to €216,818
- Financial charges -€12,428
down €12,428 (-47.3%), from €26,290 to €13,862
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 | €5,009,911 | €5,550,789 | +€540,878 | +10.8% |
| Fixed assets | 21/28 | €3,116,203 | €3,315,466 | +€199,263 | +6.4% |
| Tangible fixed assets | 22/27 | €3,105,733 | €3,304,996 | +€199,263 | +6.4% |
| Land and buildings | 22 | €3,080,519 | €3,283,281 | +€202,761 | +6.6% |
| Furniture and vehicles | 24 | €25,214 | €21,715 | -€3,498 | -13.9% |
| Financial fixed assets | 28 | €10,470 | €10,470 | = | 0.0% |
| Current assets | 29/58 | €1,893,708 | €2,235,324 | +€341,615 | +18.0% |
| Amounts receivable within one year | 40/41 | €252,464 | €205,197 | -€47,267 | -18.7% |
| Trade receivables | 40 | €113,052 | €94,619 | -€18,433 | -16.3% |
| Other amounts receivable | 41 | €139,412 | €110,577 | -€28,834 | -20.7% |
| Current investments | 50/53 | €247,062 | €250,703 | +€3,641 | +1.5% |
| Cash at bank and in hand | 54/58 | €1,392,192 | €1,774,899 | +€382,707 | +27.5% |
| Deferred charges and accrued income | 490/1 | €1,990 | €4,525 | +€2,535 | +127.4% |
| Total equity and liabilities | 10/49 | €5,009,911 | €5,550,789 | +€540,878 | +10.8% |
| Equity | 10/15 | €3,988,237 | €4,617,071 | +€628,834 | +15.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,969,637 | €4,598,471 | +€628,834 | +15.8% |
| Distributable reserves | 133 | €3,969,637 | €4,598,471 | +€628,834 | +15.8% |
| Amounts payable | 17/49 | €1,021,674 | €933,719 | -€87,956 | -8.6% |
| Amounts payable after more than one year | 17 | €809,628 | €606,217 | -€203,411 | -25.1% |
| Financial debts | 170/4 | €809,628 | €606,217 | -€203,411 | -25.1% |
| Amounts payable within one year | 42/48 | €211,089 | €326,734 | +€115,646 | +54.8% |
| Current portion of amounts payable after more than one year | 42 | €201,187 | €203,411 | +€2,224 | +1.1% |
| Trade debts | 44 | €2,973 | €108,443 | +€105,470 | +3547.2% |
| Suppliers | 440/4 | €2,973 | €108,443 | +€105,470 | +3547.2% |
| Taxes, remuneration and social security | 45 | €6,929 | €14,880 | +€7,952 | +114.8% |
| Taxes | 450/3 | €6,929 | €14,880 | +€7,952 | +114.8% |
| Accrued charges and deferred income | 492/3 | €957 | €767 | -€191 | -19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,222 | €87,391 | +€5,169 | +6.3% |
| Other operating charges | 640/8 | €9,576 | €7,742 | -€1,833 | -19.1% |
| Gross operating margin | 9900 | €855,894 | €939,564 | +€83,669 | +9.8% |
| Operating profit (loss) | 9901 | €764,097 | €844,430 | +€80,334 | +10.5% |
| Financial income | 75/76B | €22,816 | €15,083 | -€7,733 | -33.9% |
| Recurring financial income | 75 | €22,816 | €15,083 | -€7,733 | -33.9% |
| Financial charges | 65/66B | €26,290 | €13,862 | -€12,428 | -47.3% |
| Recurring financial charges | 65 | €26,290 | €13,862 | -€12,428 | -47.3% |
| Profit (loss) for the period before taxes | 9903 | €760,623 | €845,652 | +€85,028 | +11.2% |
| Income taxes | 67/77 | €198,088 | €216,818 | +€18,729 | +9.5% |
| Profit (loss) for the period | 9904 | €562,535 | €628,834 | +€66,299 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €562,535 | €628,834 | +€66,299 | +11.8% |
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 11 October 2026 via checked.be.