RESONANCE: 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.
RESONANCE
Largest movements
- Cash +€532,102
up €532,102 (+70.7%), from €752,748 to €1.3m
mainly Net result for the year (+€654,259) and Receivables within one year (+€102,903)
- Receivables after one year +€139,142
up €139,142 (+22.8%), from €610,488 to €749,629
- Receivables within one year -€102,903
down €102,903 (-15.2%), from €679,056 to €576,153
of which Other amounts receivable: -€157,591
- Tangible fixed assets -€34,199
down €34,199 (-23.8%), from €143,938 to €109,739
of which Furniture and vehicles: -€28,752
- Reserves +€654,259
up €654,259 (+34.8%), from €1.9m to €2.5m
of which Distributable reserves: +€814,239
- Other debts -€179,219
down €179,219 (-75.7%), from €236,742 to €57,523
- Trade debts +€55,267
up €55,267 (+18342.3%), from €301 to €55,569
- Gross operating margin +€99,863
up €99,863 (+10.9%), from €914,648 to €1.0m
- Taxes +€48,828
up €48,828 (+17.7%), from €276,246 to €325,075
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 | €2,189,618 | €2,723,854 | +€534,237 | +24.4% |
| Fixed assets | 21/28 | €144,063 | €109,864 | -€34,199 | -23.7% |
| Tangible fixed assets | 22/27 | €143,938 | €109,739 | -€34,199 | -23.8% |
| Plant, machinery and equipment | 23 | €3,517 | €5,316 | +€1,799 | +51.2% |
| Furniture and vehicles | 24 | €50,351 | €21,600 | -€28,752 | -57.1% |
| Other tangible fixed assets | 26 | €90,070 | €82,823 | -€7,247 | -8.0% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €2,045,555 | €2,613,991 | +€568,436 | +27.8% |
| Amounts receivable after more than one year | 29 | €610,488 | €749,629 | +€139,142 | +22.8% |
| Other amounts receivable | 291 | €610,488 | €749,629 | +€139,142 | +22.8% |
| Amounts receivable within one year | 40/41 | €679,056 | €576,153 | -€102,903 | -15.2% |
| Trade receivables | 40 | - | €54,688 | +€54,688 | |
| Other amounts receivable | 41 | €679,056 | €521,466 | -€157,591 | -23.2% |
| Cash at bank and in hand | 54/58 | €752,748 | €1,284,850 | +€532,102 | +70.7% |
| Deferred charges and accrued income | 490/1 | €3,263 | €3,358 | +€95 | +2.9% |
| Total equity and liabilities | 10/49 | €2,189,618 | €2,723,854 | +€534,237 | +24.4% |
| Equity | 10/15 | €1,898,478 | €2,552,738 | +€654,259 | +34.5% |
| Contributions | 10/11 | €18,660 | €18,660 | = | 0.0% |
| Reserves | 13 | €1,879,819 | €2,534,078 | +€654,259 | +34.8% |
| Tax-exempt reserves | 132 | €225,236 | €65,256 | -€159,980 | -71.0% |
| Distributable reserves | 133 | €1,654,583 | €2,468,822 | +€814,239 | +49.2% |
| Amounts payable | 17/49 | €291,139 | €171,117 | -€120,023 | -41.2% |
| Amounts payable within one year | 42/48 | €291,139 | €171,117 | -€120,023 | -41.2% |
| Trade debts | 44 | €301 | €55,569 | +€55,267 | +18342.3% |
| Suppliers | 440/4 | €301 | €55,569 | +€55,267 | +18342.3% |
| Taxes, remuneration and social security | 45 | €54,096 | €58,025 | +€3,928 | +7.3% |
| Taxes | 450/3 | €51,596 | €51,575 | -€22 | 0.0% |
| Remuneration and social security | 454/9 | €2,500 | €6,450 | +€3,950 | +158.0% |
| Other amounts payable | 47/48 | €236,742 | €57,523 | -€179,219 | -75.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,450 | €37,798 | +€2,348 | +6.6% |
| Other operating charges | 640/8 | €4,494 | €5,565 | +€1,071 | +23.8% |
| Gross operating margin | 9900 | €914,648 | €1,014,511 | +€99,863 | +10.9% |
| Operating profit (loss) | 9901 | €874,703 | €971,147 | +€96,444 | +11.0% |
| Financial income | 75/76B | €10,011 | €10,854 | +€843 | +8.4% |
| Recurring financial income | 75 | €10,011 | €10,854 | +€843 | +8.4% |
| Financial charges | 65/66B | €3,786 | €2,667 | -€1,119 | -29.5% |
| Recurring financial charges | 65 | €3,786 | €2,667 | -€1,119 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €880,928 | €979,334 | +€98,406 | +11.2% |
| Income taxes | 67/77 | €276,246 | €325,075 | +€48,828 | +17.7% |
| Profit (loss) for the period | 9904 | €604,682 | €654,259 | +€49,577 | +8.2% |
| Transfer from tax-exempt reserves | 789 | - | €159,980 | +€159,980 | |
| Profit (loss) for the period to be appropriated | 9905 | €604,682 | €814,239 | +€209,557 | +34.7% |
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 3 October 2026 via checked.be.