SECTION 47: 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.
SECTION 47
Largest movements
- Cash +€11,470
up €11,470 (+10.9%), from €105,342 to €116,812
mainly Other debts (+€9,805) and Net result for the year (+€3,298)
- Receivables within one year +€2,245
up €2,245 (+14.8%), from €15,218 to €17,463
of which Trade receivables: +€2,048
- Other debts +€9,805
up €9,805 (+126.1%), from €7,776 to €17,581
- Profit (loss) carried forward +€3,298
up €3,298 (+3.5%), from €95,049 to €98,347
- Gross operating margin -€37,931
down €37,931 (-87.9%), from €43,170 to €5,239
- Financial charges +€669
up €669 (+198.5%), from €337 to €1,006
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 | €121,237 | €134,314 | +€13,077 | +10.8% |
| Fixed assets | 21/28 | €574 | €39 | -€535 | -93.2% |
| Tangible fixed assets | 22/27 | €574 | €39 | -€535 | -93.2% |
| Furniture and vehicles | 24 | €574 | €39 | -€535 | -93.2% |
| Current assets | 29/58 | €120,663 | €134,275 | +€13,612 | +11.3% |
| Amounts receivable within one year | 40/41 | €15,218 | €17,463 | +€2,245 | +14.8% |
| Trade receivables | 40 | €14,760 | €16,808 | +€2,048 | +13.9% |
| Other amounts receivable | 41 | €458 | €655 | +€197 | +43.0% |
| Cash at bank and in hand | 54/58 | €105,342 | €116,812 | +€11,470 | +10.9% |
| Deferred charges and accrued income | 490/1 | €103 | - | -€103 | |
| Total equity and liabilities | 10/49 | €121,237 | €134,314 | +€13,077 | +10.8% |
| Equity | 10/15 | €109,309 | €112,607 | +€3,298 | +3.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,049 | €98,347 | +€3,298 | +3.5% |
| Amounts payable | 17/49 | €11,928 | €21,707 | +€9,779 | +82.0% |
| Amounts payable within one year | 42/48 | €11,928 | €21,707 | +€9,779 | +82.0% |
| Trade debts | 44 | €82 | €126 | +€44 | +53.7% |
| Suppliers | 440/4 | €82 | €126 | +€44 | +53.7% |
| Taxes, remuneration and social security | 45 | €4,070 | €4,000 | -€70 | -1.7% |
| Taxes | 450/3 | €4,070 | €4,000 | -€70 | -1.7% |
| Other amounts payable | 47/48 | €7,776 | €17,581 | +€9,805 | +126.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €601 | €535 | -€66 | -11.0% |
| Other operating charges | 640/8 | €387 | €400 | +€13 | +3.4% |
| Gross operating margin | 9900 | €43,170 | €5,239 | -€37,931 | -87.9% |
| Operating profit (loss) | 9901 | €42,182 | €4,304 | -€37,878 | -89.8% |
| Financial charges | 65/66B | €337 | €1,006 | +€669 | +198.5% |
| Recurring financial charges | 65 | €337 | €1,006 | +€669 | +198.5% |
| Profit (loss) for the period before taxes | 9903 | €41,845 | €3,298 | -€38,547 | -92.1% |
| Income taxes | 67/77 | €70 | - | -€70 | |
| Profit (loss) for the period | 9904 | €41,775 | €3,298 | -€38,477 | -92.1% |
| Profit (loss) for the period to be appropriated | 9905 | €41,775 | €3,298 | -€38,477 | -92.1% |
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 12 October 2026 via checked.be.