SELECTION T: 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.
SELECTION T
Largest movements
- Tangible fixed assets +€32,635
up €32,635 (+62.4%), from €52,279 to €84,913
of which Furniture and vehicles: +€32,301
- Receivables within one year +€9,504
up €9,504 (+38.1%), from €24,917 to €34,421
of which Other amounts receivable: +€8,525
- Cash -€5,884
down €5,884 (-3.8%), from €153,992 to €148,107
mainly Investment in fixed assets (net) (-€41,487) and Contributions, distributions and other (-€9,969)
- Deferred charges and accrued income +€4,621
up €4,621 (+222.7%), from €2,075 to €6,696
- Reserves +€31,354
up €31,354 (+14.4%), from €217,292 to €248,646
of which Distributable reserves: +€31,354
- Tax, wage and social debts +€6,093
up €6,093 (+538.3%), from €1,132 to €7,225
- Trade debts +€4,053
up €4,053 (+13915.2%), from €29 to €4,083
- Other operating charges +€9,464
up €9,464 (+195.2%), from €4,849 to €14,313
- Gross operating margin +€7,964
up €7,964 (+10.4%), from €76,646 to €84,610
- Depreciation -€7,315
down €7,315 (-45.2%), from €16,168 to €8,853
- Taxes +€3,301
up €3,301 (+19.7%), from €16,726 to €20,027
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 | €253,784 | €293,796 | +€40,012 | +15.8% |
| Fixed assets | 21/28 | €52,279 | €84,913 | +€32,635 | +62.4% |
| Tangible fixed assets | 22/27 | €52,279 | €84,913 | +€32,635 | +62.4% |
| Plant, machinery and equipment | 23 | €5,345 | €6,827 | +€1,482 | +27.7% |
| Furniture and vehicles | 24 | €40,059 | €72,361 | +€32,301 | +80.6% |
| Other tangible fixed assets | 26 | €6,875 | €5,725 | -€1,149 | -16.7% |
| Current assets | 29/58 | €201,506 | €208,883 | +€7,377 | +3.7% |
| Stocks and contracts in progress | 3 | €20,522 | €19,658 | -€864 | -4.2% |
| Stocks | 30/36 | €20,522 | €19,658 | -€864 | -4.2% |
| Amounts receivable within one year | 40/41 | €24,917 | €34,421 | +€9,504 | +38.1% |
| Trade receivables | 40 | €9,978 | €10,957 | +€979 | +9.8% |
| Other amounts receivable | 41 | €14,939 | €23,464 | +€8,525 | +57.1% |
| Cash at bank and in hand | 54/58 | €153,992 | €148,107 | -€5,884 | -3.8% |
| Deferred charges and accrued income | 490/1 | €2,075 | €6,696 | +€4,621 | +222.7% |
| Total equity and liabilities | 10/49 | €253,784 | €293,796 | +€40,012 | +15.8% |
| Equity | 10/15 | €248,278 | €279,633 | +€31,354 | +12.6% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €217,292 | €248,646 | +€31,354 | +14.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €217,292 | €248,646 | +€31,354 | +14.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €5,506 | €14,164 | +€8,658 | +157.2% |
| Amounts payable within one year | 42/48 | €3,270 | €11,366 | +€8,096 | +247.6% |
| Trade debts | 44 | €29 | €4,083 | +€4,053 | +13915.2% |
| Suppliers | 440/4 | €29 | €4,083 | +€4,053 | +13915.2% |
| Taxes, remuneration and social security | 45 | €1,132 | €7,225 | +€6,093 | +538.3% |
| Taxes | 450/3 | €1,132 | €7,225 | +€6,093 | +538.3% |
| Other amounts payable | 47/48 | €2,109 | €59 | -€2,050 | -97.2% |
| Accrued charges and deferred income | 492/3 | €2,236 | €2,797 | +€561 | +25.1% |
| Non-recurring operating income | 76A | - | €4,033 | +€4,033 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,168 | €8,853 | -€7,315 | -45.2% |
| Other operating charges | 640/8 | €4,849 | €14,313 | +€9,464 | +195.2% |
| Gross operating margin | 9900 | €76,646 | €84,610 | +€7,964 | +10.4% |
| Operating profit (loss) | 9901 | €55,629 | €61,444 | +€5,815 | +10.5% |
| Financial income | 75/76B | €11 | €167 | +€157 | +1448.0% |
| Recurring financial income | 75 | €11 | €167 | +€157 | +1448.0% |
| Financial charges | 65/66B | €256 | €261 | +€5 | +1.8% |
| Recurring financial charges | 65 | €256 | €261 | +€5 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €55,383 | €61,351 | +€5,967 | +10.8% |
| Income taxes | 67/77 | €16,726 | €20,027 | +€3,301 | +19.7% |
| Profit (loss) for the period | 9904 | €38,658 | €41,324 | +€2,666 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €38,658 | €41,324 | +€2,666 | +6.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.