Realize: what changed
Two fiscal 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.
Realize
Largest movements
- Current investments -€140,000
down €140,000 (-53.8%), from €260,000 to €120,000
- Receivables within one year +€60,368
up €60,368 (+161.5%), from €37,368 to €97,736
of which Trade receivables: +€49,913
- Cash -€42,166
down €42,166 (-42.6%), from €99,074 to €56,908
mainly Receivables within one year (-€60,368) and Other debts (-€53,369)
- Financial fixed assets +€15,000
new in 2025: €15,000
- Other debts -€53,369
down €53,369 (-18.0%), from €296,553 to €243,184
- Reserves -€43,592
down €43,592 (-6.8%), from €644,682 to €601,091
- Trade debts +€41,089
up €41,089 (+520.5%), from €7,894 to €48,983
- Tax, wage and social debts -€36,613
down €36,613 (-81.8%), from €44,741 to €8,127
of which Taxes: -€33,533
- Accrued charges and deferred income -€23,973
down €23,973 (-98.3%), from €24,375 to €402
- Gross operating margin -€162,157
down €162,157, from €158,632 to -€3,526
- Taxes -€25,897
down €25,897 (-97.9%), from €26,460 to €562
- Financial charges -€23,789
down €23,789 (-93.7%), from €25,393 to €1,604
- Other operating charges +€13,816
up €13,816 (+501.2%), from €2,757 to €16,573
- Depreciation -€11,247
down €11,247 (-29.8%), from €37,801 to €26,554
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 | €1,023,922 | €906,839 | -€117,082 | -11.4% |
| Fixed assets | 21/28 | €624,922 | €629,718 | +€4,796 | +0.8% |
| Tangible fixed assets | 22/27 | €624,922 | €614,718 | -€10,204 | -1.6% |
| Land and buildings | 22 | €592,928 | €587,221 | -€5,708 | -1.0% |
| Furniture and vehicles | 24 | €31,994 | €27,497 | -€4,497 | -14.1% |
| Financial fixed assets | 28 | - | €15,000 | +€15,000 | |
| Current assets | 29/58 | €398,999 | €277,122 | -€121,878 | -30.5% |
| Amounts receivable within one year | 40/41 | €37,368 | €97,736 | +€60,368 | +161.5% |
| Trade receivables | 40 | €305 | €50,217 | +€49,913 | +16370.1% |
| Other amounts receivable | 41 | €37,064 | €47,519 | +€10,455 | +28.2% |
| Current investments | 50/53 | €260,000 | €120,000 | -€140,000 | -53.8% |
| Cash at bank and in hand | 54/58 | €99,074 | €56,908 | -€42,166 | -42.6% |
| Deferred charges and accrued income | 490/1 | €2,557 | €2,477 | -€80 | -3.1% |
| Total equity and liabilities | 10/49 | €1,023,922 | €906,839 | -€117,082 | -11.4% |
| Equity | 10/15 | €649,682 | €606,091 | -€43,592 | -6.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €644,682 | €601,091 | -€43,592 | -6.8% |
| Distributable reserves | 133 | €644,682 | €601,091 | -€43,592 | -6.8% |
| Amounts payable | 17/49 | €374,239 | €300,749 | -€73,490 | -19.6% |
| Amounts payable within one year | 42/48 | €349,864 | €300,346 | -€49,518 | -14.2% |
| Financial debts | 43 | €677 | €53 | -€624 | -92.2% |
| Credit institutions | 430/8 | €677 | €53 | -€624 | -92.2% |
| Trade debts | 44 | €7,894 | €48,983 | +€41,089 | +520.5% |
| Suppliers | 440/4 | €7,894 | €48,983 | +€41,089 | +520.5% |
| Taxes, remuneration and social security | 45 | €44,741 | €8,127 | -€36,613 | -81.8% |
| Taxes | 450/3 | €41,660 | €8,127 | -€33,533 | -80.5% |
| Remuneration and social security | 454/9 | €3,080 | €0 | -€3,080 | -100.0% |
| Other amounts payable | 47/48 | €296,553 | €243,184 | -€53,369 | -18.0% |
| Accrued charges and deferred income | 492/3 | €24,375 | €402 | -€23,973 | -98.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,801 | €26,554 | -€11,247 | -29.8% |
| Other operating charges | 640/8 | €2,757 | €16,573 | +€13,816 | +501.2% |
| Gross operating margin | 9900 | €158,632 | -€3,526 | -€162,157 | |
| Operating profit (loss) | 9901 | €118,074 | -€46,653 | -€164,726 | |
| Financial income | 75/76B | €7,914 | €5,228 | -€2,687 | -33.9% |
| Recurring financial income | 75 | €7,914 | €5,228 | -€2,687 | -33.9% |
| Financial charges | 65/66B | €25,393 | €1,604 | -€23,789 | -93.7% |
| Recurring financial charges | 65 | €25,393 | €1,604 | -€23,789 | -93.7% |
| Profit (loss) for the period before taxes | 9903 | €100,595 | -€43,029 | -€143,624 | |
| Income taxes | 67/77 | €26,460 | €562 | -€25,897 | -97.9% |
| Profit (loss) for the period | 9904 | €74,135 | -€43,592 | -€117,727 | |
| Profit (loss) for the period to be appropriated | 9905 | €74,135 | -€43,592 | -€117,727 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.