Real Line: 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.
Real Line
Largest movements
- Cash -€116,665
down €116,665 (-78.0%), from €149,617 to €32,952
mainly Contributions, distributions and other (-€259,362) and Tax, wage and social debts (-€9,085)
- Current investments -€10,563
down €10,563 (-5.4%), from €197,339 to €186,775
- Reserves -€259,362
down €259,362 (-48.2%), from €538,024 to €278,662
- Profit (loss) carried forward +€138,362
new in 2025: €138,362
- Tax, wage and social debts -€9,085
down €9,085 (-17.9%), from €50,672 to €41,587
- Financial income +€26,167
up €26,167 (+340%), from €7,697 to €33,863
- Taxes +€6,869
up €6,869 (+19.1%), from €35,943 to €42,811
- Financial charges -€2,882
down €2,882, from €2,623 to -€260
- Depreciation +€2,588
up €2,588 (+114%), from €2,277 to €4,865
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.
Derived cash bridge
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 | €596,768 | €471,563 | -€125,206 | -21.0% |
| Fixed assets | 21/28 | €17,718 | €16,395 | -€1,323 | -7.5% |
| Tangible fixed assets | 22/27 | €17,718 | €16,395 | -€1,323 | -7.5% |
| Plant, machinery and equipment | 23 | - | €2,144 | +€2,144 | |
| Furniture and vehicles | 24 | €17,718 | €14,251 | -€3,467 | -19.6% |
| Current assets | 29/58 | €579,050 | €455,167 | -€123,883 | -21.4% |
| Amounts receivable after more than one year | 29 | €180,000 | €180,000 | = | 0.0% |
| Trade receivables | 290 | €180,000 | €180,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €49,600 | €52,811 | +€3,211 | +6.5% |
| Trade receivables | 40 | €47,836 | €46,154 | -€1,682 | -3.5% |
| Other amounts receivable | 41 | €1,764 | €6,657 | +€4,893 | +277% |
| Current investments | 50/53 | €197,339 | €186,775 | -€10,563 | -5.4% |
| Cash at bank and in hand | 54/58 | €149,617 | €32,952 | -€116,665 | -78.0% |
| Deferred charges and accrued income | 490/1 | €2,494 | €2,629 | +€135 | +5.4% |
| Total equity and liabilities | 10/49 | €596,768 | €471,563 | -€125,206 | -21.0% |
| Equity | 10/15 | €543,024 | €422,024 | -€121,000 | -22.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €538,024 | €278,662 | -€259,362 | -48.2% |
| Distributable reserves | 133 | €538,024 | €278,662 | -€259,362 | -48.2% |
| Profit (loss) carried forward | 14 | - | €138,362 | +€138,362 | |
| Amounts payable | 17/49 | €53,745 | €49,539 | -€4,206 | -7.8% |
| Amounts payable within one year | 42/48 | €53,745 | €49,539 | -€4,206 | -7.8% |
| Financial debts | 43 | €836 | €1,283 | +€447 | +53.5% |
| Credit institutions | 430/8 | €836 | €1,283 | +€447 | +53.5% |
| Trade debts | 44 | €2,237 | €6,669 | +€4,432 | +198% |
| Suppliers | 440/4 | €2,237 | €6,669 | +€4,432 | +198% |
| Taxes, remuneration and social security | 45 | €50,672 | €41,587 | -€9,085 | -17.9% |
| Taxes | 450/3 | €50,672 | €41,587 | -€9,085 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,277 | €4,865 | +€2,588 | +114% |
| Other operating charges | 640/8 | €1,095 | €1,453 | +€358 | +32.7% |
| Non-recurring operating charges | 66A | €772 | - | -€772 | |
| Gross operating margin | 9900 | €152,619 | €153,368 | +€749 | +0.5% |
| Operating profit (loss) | 9901 | €148,475 | €147,050 | -€1,424 | -1.0% |
| Financial income | 75/76B | €7,697 | €33,863 | +€26,167 | +340% |
| Recurring financial income | 75 | €7,697 | €33,863 | +€26,167 | +340% |
| Financial charges | 65/66B | €2,623 | -€260 | -€2,882 | |
| Recurring financial charges | 65 | €2,623 | -€260 | -€2,882 | |
| Profit (loss) for the period before taxes | 9903 | €153,549 | €181,173 | +€27,624 | +18.0% |
| Income taxes | 67/77 | €35,943 | €42,811 | +€6,869 | +19.1% |
| Profit (loss) for the period | 9904 | €117,606 | €138,362 | +€20,756 | +17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €117,606 | €138,362 | +€20,756 | +17.6% |
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 13 October 2026 via checked.be.