REAL TIME IMPROVEMENTS: 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 TIME IMPROVEMENTS
Largest movements
- Cash +€55,701
up €55,701 (+87.4%), from €63,763 to €119,464
mainly Net result for the year (+€60,789) and Depreciation (+€20,126)
- Tangible fixed assets -€17,127
down €17,127 (-21.9%), from €78,163 to €61,036
of which Leasing and similar rights: -€9,778
- Receivables within one year -€4,595
down €4,595 (-13.8%), from €33,373 to €28,778
- Reserves +€54,830
up €54,830 (+39.0%), from €140,566 to €195,395
of which Distributable reserves: +€54,830
- Current portion of long-term debt -€15,633
no longer reported in 2025 (was €15,633)
- Tax, wage and social debts -€4,626
down €4,626 (-44.2%), from €10,459 to €5,833
- Gross operating margin +€23,673
up €23,673 (+25.9%), from €91,396 to €115,070
- Taxes +€7,651
up €7,651 (+32.5%), from €23,577 to €31,228
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 | €176,705 | €210,840 | +€34,134 | +19.3% |
| Fixed assets | 21/28 | €78,163 | €61,036 | -€17,127 | -21.9% |
| Tangible fixed assets | 22/27 | €78,163 | €61,036 | -€17,127 | -21.9% |
| Land and buildings | 22 | €13,458 | €11,833 | -€1,625 | -12.1% |
| Plant, machinery and equipment | 23 | €7,016 | €6,811 | -€205 | -2.9% |
| Furniture and vehicles | 24 | €8,801 | €3,281 | -€5,519 | -62.7% |
| Leasing and similar rights | 25 | €48,889 | €39,111 | -€9,778 | -20.0% |
| Current assets | 29/58 | €98,542 | €149,803 | +€51,261 | +52.0% |
| Amounts receivable within one year | 40/41 | €33,373 | €28,778 | -€4,595 | -13.8% |
| Trade receivables | 40 | €33,373 | €28,778 | -€4,595 | -13.8% |
| Cash at bank and in hand | 54/58 | €63,763 | €119,464 | +€55,701 | +87.4% |
| Deferred charges and accrued income | 490/1 | €1,406 | €1,561 | +€156 | +11.1% |
| Total equity and liabilities | 10/49 | €176,705 | €210,840 | +€34,134 | +19.3% |
| Equity | 10/15 | €146,771 | €201,601 | +€54,830 | +37.4% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €140,566 | €195,395 | +€54,830 | +39.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,498 | €17,498 | = | 0.0% |
| Distributable reserves | 133 | €121,208 | €176,038 | +€54,830 | +45.2% |
| Amounts payable | 17/49 | €29,934 | €9,239 | -€20,695 | -69.1% |
| Amounts payable within one year | 42/48 | €29,934 | €9,239 | -€20,695 | -69.1% |
| Current portion of amounts payable after more than one year | 42 | €15,633 | - | -€15,633 | |
| Trade debts | 44 | €2,156 | €3,083 | +€927 | +43.0% |
| Suppliers | 440/4 | €2,156 | €3,083 | +€927 | +43.0% |
| Taxes, remuneration and social security | 45 | €10,459 | €5,833 | -€4,626 | -44.2% |
| Taxes | 450/3 | €10,459 | €5,833 | -€4,626 | -44.2% |
| Other amounts payable | 47/48 | €1,686 | €323 | -€1,363 | -80.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,400 | €20,126 | +€726 | +3.7% |
| Other operating charges | 640/8 | €2,280 | €2,540 | +€259 | +11.4% |
| Gross operating margin | 9900 | €91,396 | €115,070 | +€23,673 | +25.9% |
| Operating profit (loss) | 9901 | €69,716 | €92,404 | +€22,688 | +32.5% |
| Financial charges | 65/66B | €1,126 | €387 | -€739 | -65.6% |
| Recurring financial charges | 65 | €1,126 | €387 | -€739 | -65.6% |
| Profit (loss) for the period before taxes | 9903 | €68,590 | €92,017 | +€23,427 | +34.2% |
| Income taxes | 67/77 | €23,577 | €31,228 | +€7,651 | +32.5% |
| Profit (loss) for the period | 9904 | €45,013 | €60,789 | +€15,775 | +35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,013 | €60,789 | +€15,775 | +35.0% |
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 20 October 2026 via checked.be.