Risk & Capital Intelligence: 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.
Risk & Capital Intelligence
Largest movements
- Cash +€118,924
up €118,924 (+67.0%), from €177,462 to €296,387
mainly Net result for the year (+€120,643) and Depreciation (+€23,666)
- Tangible fixed assets -€23,666
down €23,666 (-9.5%), from €248,759 to €225,093
of which Furniture and vehicles: -€15,723
- Receivables within one year +€22,979
up €22,979 (+5.0%), from €464,081 to €487,060
of which Other amounts receivable: +€50,000
- Reserves +€120,643
up €120,643 (+24.1%), from €500,304 to €620,947
- Gross operating margin +€20,178
up €20,178 (+12.7%), from €159,423 to €179,601
- Taxes +€6,815
up €6,815 (+15.4%), from €44,316 to €51,131
- Other operating charges -€2,822
down €2,822 (-55.8%), from €5,056 to €2,234
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 | €1,091,967 | €1,210,205 | +€118,237 | +10.8% |
| Fixed assets | 21/28 | €450,424 | €426,758 | -€23,666 | -5.3% |
| Tangible fixed assets | 22/27 | €248,759 | €225,093 | -€23,666 | -9.5% |
| Land and buildings | 22 | €169,384 | €163,392 | -€5,992 | -3.5% |
| Plant, machinery and equipment | 23 | €7,519 | €5,569 | -€1,951 | -25.9% |
| Furniture and vehicles | 24 | €71,855 | €56,132 | -€15,723 | -21.9% |
| Financial fixed assets | 28 | €201,665 | €201,665 | = | 0.0% |
| Current assets | 29/58 | €641,543 | €783,447 | +€141,903 | +22.1% |
| Amounts receivable within one year | 40/41 | €464,081 | €487,060 | +€22,979 | +5.0% |
| Trade receivables | 40 | €107,690 | €80,669 | -€27,021 | -25.1% |
| Other amounts receivable | 41 | €356,391 | €406,391 | +€50,000 | +14.0% |
| Cash at bank and in hand | 54/58 | €177,462 | €296,387 | +€118,924 | +67.0% |
| Total equity and liabilities | 10/49 | €1,091,967 | €1,210,205 | +€118,237 | +10.8% |
| Equity | 10/15 | €1,001,795 | €1,122,437 | +€120,643 | +12.0% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €500,304 | €620,947 | +€120,643 | +24.1% |
| Distributable reserves | 133 | €500,304 | €620,947 | +€120,643 | +24.1% |
| Profit (loss) carried forward | 14 | €487,230 | €487,230 | = | 0.0% |
| Amounts payable | 17/49 | €90,173 | €87,768 | -€2,405 | -2.7% |
| Amounts payable after more than one year | 17 | €59,375 | €51,875 | -€7,500 | -12.6% |
| Financial debts | 170/4 | €59,375 | €51,875 | -€7,500 | -12.6% |
| Amounts payable within one year | 42/48 | €30,798 | €35,893 | +€5,095 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €7,500 | €7,500 | = | 0.0% |
| Trade debts | 44 | €2,285 | €276 | -€2,010 | -87.9% |
| Suppliers | 440/4 | €2,285 | €276 | -€2,010 | -87.9% |
| Taxes, remuneration and social security | 45 | €19,132 | €28,037 | +€8,905 | +46.5% |
| Taxes | 450/3 | €19,132 | €28,037 | +€8,905 | +46.5% |
| Other amounts payable | 47/48 | €1,880 | €80 | -€1,801 | -95.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,932 | €23,666 | +€1,734 | +7.9% |
| Other operating charges | 640/8 | €5,056 | €2,234 | -€2,822 | -55.8% |
| Gross operating margin | 9900 | €159,423 | €179,601 | +€20,178 | +12.7% |
| Operating profit (loss) | 9901 | €132,434 | €153,701 | +€21,267 | +16.1% |
| Financial income | 75/76B | €21,687 | €21,258 | -€429 | -2.0% |
| Recurring financial income | 75 | €21,687 | €21,258 | -€429 | -2.0% |
| Financial charges | 65/66B | €3,895 | €3,186 | -€710 | -18.2% |
| Recurring financial charges | 65 | €3,895 | €3,186 | -€710 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €150,226 | €171,774 | +€21,548 | +14.3% |
| Income taxes | 67/77 | €44,316 | €51,131 | +€6,815 | +15.4% |
| Profit (loss) for the period | 9904 | €105,910 | €120,643 | +€14,732 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €105,910 | €120,643 | +€14,732 | +13.9% |
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 17 October 2026 via checked.be.