REAL WORLD: what changed
What changed
REAL WORLD
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€113,006
2024 · €225,321-€112,315
Equity
€549,300
2024 · €436,294+€113,006
Cash
€168,977
2024 · €74,747+€94,230
Balance sheet total
€623,634
2024 · €539,352+€84,281
Largest movements
Assets
- Cash +€94,230
up €94,230 (+126%), from €74,747 to €168,977
mainly Net result for the year (+€113,006) and Receivables within one year (+€59,524)
- Receivables within one year -€59,524
down €59,524 (-92.4%), from €64,390 to €4,866
- Financial fixed assets +€44,000
up €44,000 (+12.8%), from €344,670 to €388,670
Equity and liabilities
- Profit (loss) carried forward +€113,006
up €113,006 (+1,418%), from €7,969 to €120,975
- Debts after one year -€25,467
down €25,467 (-74.6%), from €34,155 to €8,688
- Tax, wage and social debts -€7,381
down €7,381 (-19.2%), from €38,493 to €31,112
Income statement
- Financial income -€108,411
down €108,411 (-98.4%), from €110,195 to €1,784
- Gross operating margin -€34,684
down €34,684 (-18.4%), from €188,985 to €154,301
- Taxes -€30,425
down €30,425 (-44.0%), from €69,124 to €38,700
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€225,321
Gross operating margin
-€34,684
Depreciation
-€433
Other operating charges
-€10
Financial income
-€108,411
Financial charges
+€799
Taxes
+€30,425
Result 2025
€113,006
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€168,822
Investment
-€50,000
Financing
-€24,592
Cash 2024
€74,747
From operations (derived)
+€168,822
Net result for the year
+€113,006
Depreciation
+€1,413
Receivables within one year
+€59,524
Deferred charges and accrued income
-€989
Trade debts
+€1,110
Tax, wage and social debts
-€7,381
Other debts
+€2,138
Investment (derived)
-€50,000
Investment in fixed assets (net)
-€44,000
Current investments
-€6,000
Financing
-€24,592
Debts after one year
-€25,467
Current portion of long-term debt
+€875
Cash 2025
€168,977
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €539,352 | €623,634 | +€84,281 | +15.6% |
| Fixed assets | 21/28 | €347,150 | €389,736 | +€42,587 | +12.3% |
| Tangible fixed assets | 22/27 | €2,480 | €1,066 | -€1,413 | -57.0% |
| Plant, machinery and equipment | 23 | €1,656 | €1,066 | -€590 | -35.6% |
| Furniture and vehicles | 24 | €824 | €0 | -€824 | -100% |
| Financial fixed assets | 28 | €344,670 | €388,670 | +€44,000 | +12.8% |
| Current assets | 29/58 | €192,203 | €233,897 | +€41,695 | +21.7% |
| Amounts receivable within one year | 40/41 | €64,390 | €4,866 | -€59,524 | -92.4% |
| Other amounts receivable | 41 | €64,390 | €4,866 | -€59,524 | -92.4% |
| Current investments | 50/53 | €51,743 | €57,743 | +€6,000 | +11.6% |
| Cash at bank and in hand | 54/58 | €74,747 | €168,977 | +€94,230 | +126% |
| Deferred charges and accrued income | 490/1 | €1,322 | €2,312 | +€989 | +74.8% |
| Total equity and liabilities | 10/49 | €539,352 | €623,634 | +€84,281 | +15.6% |
| Equity | 10/15 | €436,294 | €549,300 | +€113,006 | +25.9% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €407,920 | €407,920 | = | 0.0% |
| Distributable reserves | 133 | €407,920 | €407,920 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,969 | €120,975 | +€113,006 | +1,418% |
| Amounts payable | 17/49 | €103,058 | €74,334 | -€28,725 | -27.9% |
| Amounts payable after more than one year | 17 | €34,155 | €8,688 | -€25,467 | -74.6% |
| Financial debts | 170/4 | €34,155 | €8,688 | -€25,467 | -74.6% |
| Amounts payable within one year | 42/48 | €68,904 | €65,646 | -€3,258 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €24,592 | €25,467 | +€875 | +3.6% |
| Trade debts | 44 | €1,288 | €2,398 | +€1,110 | +86.2% |
| Suppliers | 440/4 | €1,288 | €2,398 | +€1,110 | +86.2% |
| Taxes, remuneration and social security | 45 | €38,493 | €31,112 | -€7,381 | -19.2% |
| Taxes | 450/3 | €38,493 | €31,112 | -€7,381 | -19.2% |
| Other amounts payable | 47/48 | €4,531 | €6,669 | +€2,138 | +47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €980 | €1,413 | +€433 | +44.2% |
| Other operating charges | 640/8 | €1,292 | €1,302 | +€10 | +0.8% |
| Gross operating margin | 9900 | €188,985 | €154,301 | -€34,684 | -18.4% |
| Operating profit (loss) | 9901 | €186,713 | €151,586 | -€35,127 | -18.8% |
| Financial income | 75/76B | €110,195 | €1,784 | -€108,411 | -98.4% |
| Recurring financial income | 75 | €110,195 | €1,784 | -€108,411 | -98.4% |
| Financial charges | 65/66B | €2,463 | €1,664 | -€799 | -32.4% |
| Recurring financial charges | 65 | €2,463 | €1,664 | -€799 | -32.4% |
| Profit (loss) for the period before taxes | 9903 | €294,445 | €151,706 | -€142,740 | -48.5% |
| Income taxes | 67/77 | €69,124 | €38,700 | -€30,425 | -44.0% |
| Profit (loss) for the period | 9904 | €225,321 | €113,006 | -€112,315 | -49.8% |
| Profit (loss) for the period to be appropriated | 9905 | €225,321 | €113,006 | -€112,315 | -49.8% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.