RESPECTABLE: 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.
RESPECTABLE
Largest movements
- Cash +€91,849
up €91,849 (+212.3%), from €43,269 to €135,118
mainly Contributions, distributions and other (+€82,202) and Net result for the year (+€81,510)
- Tangible fixed assets +€85,647
up €85,647 (+19.4%), from €441,419 to €527,066
of which Land and buildings: +€93,759
- Stocks and contracts -€15,422
down €15,422 (-85.9%), from €17,957 to €2,535
- Receivables within one year -€13,157
down €13,157 (-13.8%), from €95,074 to €81,917
of which Trade receivables: -€71,091
- Investment grants +€82,202
up €82,202 (+103.3%), from €79,610 to €161,812
- Profit (loss) carried forward +€81,510
up €81,510 (+124.9%), from €65,240 to €146,750
- Debts after one year -€8,718
down €8,718 (-3.2%), from €268,826 to €260,108
- Trade debts -€7,997
down €7,997 (-22.6%), from €35,376 to €27,379
- Gross operating margin +€113,644
up €113,644 (+509.5%), from €22,307 to €135,951
- Financial income -€30,904
down €30,904 (-35.7%), from €86,530 to €55,626
- Taxes +€20,559
up €20,559 (+826.3%), from €2,488 to €23,047
- Depreciation +€12,368
up €12,368 (+65.5%), from €18,880 to €31,248
- Financial charges +€4,901
up €4,901 (+42.9%), from €11,435 to €16,336
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €598,557 | €746,686 | +€148,129 | +24.7% |
| Fixed assets | 21/28 | €441,469 | €527,116 | +€85,647 | +19.4% |
| Tangible fixed assets | 22/27 | €441,419 | €527,066 | +€85,647 | +19.4% |
| Land and buildings | 22 | €413,946 | €507,705 | +€93,759 | +22.7% |
| Plant, machinery and equipment | 23 | €25,938 | €19,008 | -€6,930 | -26.7% |
| Furniture and vehicles | 24 | €1,535 | €353 | -€1,182 | -77.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €157,088 | €219,570 | +€62,482 | +39.8% |
| Stocks and contracts in progress | 3 | €17,957 | €2,535 | -€15,422 | -85.9% |
| Stocks | 30/36 | €17,957 | €2,535 | -€15,422 | -85.9% |
| Amounts receivable within one year | 40/41 | €95,074 | €81,917 | -€13,157 | -13.8% |
| Trade receivables | 40 | €95,074 | €23,983 | -€71,091 | -74.8% |
| Other amounts receivable | 41 | - | €57,934 | +€57,934 | |
| Cash at bank and in hand | 54/58 | €43,269 | €135,118 | +€91,849 | +212.3% |
| Deferred charges and accrued income | 490/1 | €788 | - | -€788 | |
| Total equity and liabilities | 10/49 | €598,557 | €746,686 | +€148,129 | +24.7% |
| Equity | 10/15 | €165,331 | €329,043 | +€163,712 | +99.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,881 | €1,881 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,251 | €1,251 | = | 0.0% |
| Distributable reserves | 133 | €630 | €630 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,240 | €146,750 | +€81,510 | +124.9% |
| Investment grants | 15 | €79,610 | €161,812 | +€82,202 | +103.3% |
| Amounts payable | 17/49 | €433,226 | €417,643 | -€15,583 | -3.6% |
| Amounts payable after more than one year | 17 | €268,826 | €260,108 | -€8,718 | -3.2% |
| Financial debts | 170/4 | €268,826 | €260,108 | -€8,718 | -3.2% |
| Amounts payable within one year | 42/48 | €164,400 | €157,535 | -€6,865 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €10,772 | €8,718 | -€2,054 | -19.1% |
| Trade debts | 44 | €35,376 | €27,379 | -€7,997 | -22.6% |
| Suppliers | 440/4 | €35,376 | €27,379 | -€7,997 | -22.6% |
| Taxes, remuneration and social security | 45 | €21,230 | €23,641 | +€2,411 | +11.4% |
| Taxes | 450/3 | €13,750 | €12,031 | -€1,719 | -12.5% |
| Remuneration and social security | 454/9 | €7,480 | €11,610 | +€4,130 | +55.2% |
| Other amounts payable | 47/48 | €97,022 | €97,797 | +€775 | +0.8% |
| Remuneration, social security and pensions | 62 | €35,989 | €37,248 | +€1,259 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,880 | €31,248 | +€12,368 | +65.5% |
| Other operating charges | 640/8 | €870 | €2,188 | +€1,318 | +151.5% |
| Gross operating margin | 9900 | €22,307 | €135,951 | +€113,644 | +509.5% |
| Operating profit (loss) | 9901 | -€33,432 | €65,267 | +€98,699 | |
| Financial income | 75/76B | €86,530 | €55,626 | -€30,904 | -35.7% |
| Recurring financial income | 75 | €86,530 | €55,626 | -€30,904 | -35.7% |
| Financial charges | 65/66B | €11,435 | €16,336 | +€4,901 | +42.9% |
| Recurring financial charges | 65 | €11,435 | €16,336 | +€4,901 | +42.9% |
| Profit (loss) for the period before taxes | 9903 | €41,663 | €104,557 | +€62,894 | +151.0% |
| Income taxes | 67/77 | €2,488 | €23,047 | +€20,559 | +826.3% |
| Profit (loss) for the period | 9904 | €39,175 | €81,510 | +€42,335 | +108.1% |
| Profit (loss) for the period to be appropriated | 9905 | €39,175 | €81,510 | +€42,335 | +108.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.