resulto: 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.
resulto
Largest movements
- Tangible fixed assets -€63,338
down €63,338 (-78.9%), from €80,263 to €16,924
of which Other tangible fixed assets: -€50,005
- Cash -€36,302
down €36,302 (-62.3%), from €58,259 to €21,957
mainly Debts after one year (-€326,959) and Tax, wage and social debts (-€10,768)
- Debts after one year -€326,959
down €326,959 (-47.1%), from €694,059 to €367,100
- Other debts +€178,141
up €178,141 (+6,705%), from €2,657 to €180,798
- Reserves +€60,569
up €60,569 (+36.8%), from €164,551 to €225,120
- Tax, wage and social debts -€10,768
down €10,768 (-28.2%), from €38,235 to €27,467
of which Taxes: -€8,928
- Current portion of long-term debt -€10,483
down €10,483 (-100%), from €10,483 to €0
- Depreciation -€8,594
down €8,594 (-43.0%), from €20,007 to €11,413
- Financial charges +€8,134
up €8,134 (+49.8%), from €16,340 to €24,473
of which Financial charges: +€7,588
- Gross operating margin +€3,728
up €3,728 (+2.5%), from €148,273 to €152,002
- Taxes -€2,832
down €2,832 (-10.5%), from €26,956 to €24,124
- Staff costs +€2,233
up €2,233 (+8.4%), from €26,532 to €28,765
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 | €934,157 | €823,104 | -€111,054 | -11.9% |
| Fixed assets | 21/28 | €862,278 | €796,924 | -€65,353 | -7.6% |
| Tangible fixed assets | 22/27 | €80,263 | €16,924 | -€63,338 | -78.9% |
| Land and buildings | 22 | €3,391 | €0 | -€3,391 | -100% |
| Plant, machinery and equipment | 23 | €238 | €0 | -€238 | -100% |
| Furniture and vehicles | 24 | €26,629 | €16,924 | -€9,704 | -36.4% |
| Other tangible fixed assets | 26 | €50,005 | €0 | -€50,005 | -100% |
| Financial fixed assets | 28 | €782,015 | €780,000 | -€2,015 | -0.3% |
| Current assets | 29/58 | €71,880 | €26,179 | -€45,700 | -63.6% |
| Amounts receivable within one year | 40/41 | €10,169 | €1,045 | -€9,123 | -89.7% |
| Trade receivables | 40 | €10,097 | €1,006 | -€9,092 | -90.0% |
| Other amounts receivable | 41 | €71 | €40 | -€31 | -44.2% |
| Cash at bank and in hand | 54/58 | €58,259 | €21,957 | -€36,302 | -62.3% |
| Deferred charges and accrued income | 490/1 | €3,452 | €3,178 | -€275 | -8.0% |
| Total equity and liabilities | 10/49 | €934,157 | €823,104 | -€111,054 | -11.9% |
| Equity | 10/15 | €183,151 | €243,720 | +€60,569 | +33.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €164,551 | €225,120 | +€60,569 | +36.8% |
| Distributable reserves | 133 | €164,551 | €225,120 | +€60,569 | +36.8% |
| Amounts payable | 17/49 | €751,006 | €579,384 | -€171,622 | -22.9% |
| Amounts payable after more than one year | 17 | €694,059 | €367,100 | -€326,959 | -47.1% |
| Financial debts | 170/4 | €694,059 | €367,100 | -€326,959 | -47.1% |
| Amounts payable within one year | 42/48 | €56,947 | €212,284 | +€155,336 | +273% |
| Current portion of amounts payable after more than one year | 42 | €10,483 | €0 | -€10,483 | -100% |
| Financial debts | 43 | €1,087 | €0 | -€1,087 | -100% |
| Credit institutions | 430/8 | €1,087 | €0 | -€1,087 | -100% |
| Trade debts | 44 | €4,485 | €4,020 | -€466 | -10.4% |
| Suppliers | 440/4 | €4,485 | €4,020 | -€466 | -10.4% |
| Taxes, remuneration and social security | 45 | €38,235 | €27,467 | -€10,768 | -28.2% |
| Taxes | 450/3 | €29,527 | €20,599 | -€8,928 | -30.2% |
| Remuneration and social security | 454/9 | €8,708 | €6,868 | -€1,840 | -21.1% |
| Other amounts payable | 47/48 | €2,657 | €180,798 | +€178,141 | +6,705% |
| Non-recurring operating income | 76A | - | €604 | +€604 | |
| Remuneration, social security and pensions | 62 | €26,532 | €28,765 | +€2,233 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,007 | €11,413 | -€8,594 | -43.0% |
| Other operating charges | 640/8 | €2,663 | €2,698 | +€35 | +1.3% |
| Non-recurring operating charges | 66A | €14,191 | €0 | -€14,191 | -100% |
| Gross operating margin | 9900 | €148,273 | €152,002 | +€3,728 | +2.5% |
| Operating profit (loss) | 9901 | €84,880 | €109,126 | +€24,246 | +28.6% |
| Financial income | 75/76B | €36 | €40 | +€4 | +10.2% |
| Recurring financial income | 75 | €36 | €40 | +€4 | +10.2% |
| Financial charges | 65/66B | €16,340 | €24,473 | +€8,134 | +49.8% |
| Recurring financial charges | 65 | €16,340 | €23,927 | +€7,588 | +46.4% |
| Non-recurring financial charges | 66B | - | €546 | +€546 | |
| Profit (loss) for the period before taxes | 9903 | €68,577 | €84,693 | +€16,116 | +23.5% |
| Income taxes | 67/77 | €26,956 | €24,124 | -€2,832 | -10.5% |
| Profit (loss) for the period | 9904 | €41,621 | €60,569 | +€18,948 | +45.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,621 | €60,569 | +€18,948 | +45.5% |
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 27 October 2026 via checked.be.