SANDRA ALENTEYNS: 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.
SANDRA ALENTEYNS
Largest movements
- Receivables within one year +€10,815
up €10,815 (+32.1%), from €33,726 to €44,540
- Deferred charges and accrued income -€6,627
down €6,627 (-70.3%), from €9,432 to €2,805
- Cash +€5,525
up €5,525 (+25.0%), from €22,141 to €27,666
mainly Net result for the year (+€16,299) and Deferred charges and accrued income (+€6,627)
- Reserves +€16,299
up €16,299 (+8.1%), from €200,356 to €216,655
of which Distributable reserves: +€16,299
- Debts after one year -€7,587
down €7,587 (-12.1%), from €62,520 to €54,932
- Gross operating margin -€42,806
down €42,806 (-53.1%), from €80,650 to €37,844
- Taxes -€10,518
down €10,518 (-56.3%), from €18,685 to €8,167
- Depreciation -€6,288
down €6,288 (-49.2%), from €12,782 to €6,494
- Financial charges -€2,035
down €2,035 (-34.0%), from €5,989 to €3,954
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 | €310,735 | €323,362 | +€12,627 | +4.1% |
| Fixed assets | 21/28 | €120,437 | €123,351 | +€2,913 | +2.4% |
| Tangible fixed assets | 22/27 | €120,437 | €123,351 | +€2,913 | +2.4% |
| Land and buildings | 22 | €119,707 | €114,688 | -€5,019 | -4.2% |
| Plant, machinery and equipment | 23 | €214 | €108 | -€106 | -49.4% |
| Furniture and vehicles | 24 | €516 | €8,554 | +€8,038 | +1,557% |
| Current assets | 29/58 | €190,298 | €200,011 | +€9,714 | +5.1% |
| Amounts receivable after more than one year | 29 | €125,000 | €125,000 | = | 0.0% |
| Other amounts receivable | 291 | €125,000 | €125,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €33,726 | €44,540 | +€10,815 | +32.1% |
| Other amounts receivable | 41 | €33,726 | €44,540 | +€10,815 | +32.1% |
| Cash at bank and in hand | 54/58 | €22,141 | €27,666 | +€5,525 | +25.0% |
| Deferred charges and accrued income | 490/1 | €9,432 | €2,805 | -€6,627 | -70.3% |
| Total equity and liabilities | 10/49 | €310,735 | €323,362 | +€12,627 | +4.1% |
| Equity | 10/15 | €206,556 | €222,855 | +€16,299 | +7.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €200,356 | €216,655 | +€16,299 | +8.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €198,496 | €214,795 | +€16,299 | +8.2% |
| Amounts payable | 17/49 | €104,179 | €100,507 | -€3,672 | -3.5% |
| Amounts payable after more than one year | 17 | €62,520 | €54,932 | -€7,587 | -12.1% |
| Financial debts | 170/4 | €62,520 | €54,932 | -€7,587 | -12.1% |
| Amounts payable within one year | 42/48 | €41,659 | €45,575 | +€3,915 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €7,533 | €7,587 | +€54 | +0.7% |
| Trade debts | 44 | €7,803 | €9,420 | +€1,617 | +20.7% |
| Suppliers | 440/4 | €7,803 | €9,420 | +€1,617 | +20.7% |
| Taxes, remuneration and social security | 45 | €16,185 | €15,853 | -€333 | -2.1% |
| Taxes | 450/3 | €16,185 | €15,853 | -€333 | -2.1% |
| Other amounts payable | 47/48 | €10,138 | €12,715 | +€2,577 | +25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,782 | €6,494 | -€6,288 | -49.2% |
| Other operating charges | 640/8 | €2,964 | €2,930 | -€34 | -1.1% |
| Gross operating margin | 9900 | €80,650 | €37,844 | -€42,806 | -53.1% |
| Operating profit (loss) | 9901 | €64,904 | €28,420 | -€36,484 | -56.2% |
| Financial income | 75/76B | €296 | - | -€296 | |
| Recurring financial income | 75 | €296 | - | -€296 | |
| Financial charges | 65/66B | €5,989 | €3,954 | -€2,035 | -34.0% |
| Recurring financial charges | 65 | €5,989 | €3,954 | -€2,035 | -34.0% |
| Profit (loss) for the period before taxes | 9903 | €59,211 | €24,467 | -€34,745 | -58.7% |
| Income taxes | 67/77 | €18,685 | €8,167 | -€10,518 | -56.3% |
| Profit (loss) for the period | 9904 | €40,526 | €16,299 | -€24,227 | -59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,526 | €16,299 | -€24,227 | -59.8% |
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 29 October 2026 via checked.be.