SETTLEMENTS: 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.
SETTLEMENTS
Largest movements
- Receivables within one year -€3.4m
down €3.4m (-15.9%), from €21.3m to €17.9m
of which Other amounts receivable: -€3.0m
- Cash +€1.5m
up €1.5m (+104%), from €1.5m to €3.0m
mainly Net result for the year (+€4.5m) and Receivables within one year (+€3.4m)
- Deferred charges and accrued income +€585,085
up €585,085 (+90.7%), from €645,359 to €1.2m
- Tax, wage and social debts -€8.4m
down €8.4m (-97.5%), from €8.6m to €211,050
- Profit (loss) carried forward +€4.5m
up €4.5m (+1.8%), from -€251.1m to -€246.6m
- Trade debts +€2.6m
up €2.6m (+3,375%), from €76,512 to €2.7m
- Taxes -€8.6m
down €8.6m, from €179,916 to -€8.4m
- Gross operating margin -€3.8m
down €3.8m (-504%), from -€762,036 to -€4.6m
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 | €23,458,973 | €22,171,068 | -€1.3m | -5.5% |
| Current assets | 29/58 | €23,458,973 | €22,171,068 | -€1.3m | -5.5% |
| Amounts receivable within one year | 40/41 | €21,349,371 | €17,947,998 | -€3.4m | -15.9% |
| Trade receivables | 40 | €450,000 | €0 | -€450,000 | -100% |
| Other amounts receivable | 41 | €20,899,371 | €17,947,998 | -€3.0m | -14.1% |
| Cash at bank and in hand | 54/58 | €1,464,242 | €2,992,626 | +€1.5m | +104% |
| Deferred charges and accrued income | 490/1 | €645,359 | €1,230,444 | +€585,085 | +90.7% |
| Total equity and liabilities | 10/49 | €23,458,973 | €22,171,068 | -€1.3m | -5.5% |
| Equity | 10/15 | €14,806,657 | €19,301,347 | +€4.5m | +30.4% |
| Contributions | 10/11 | €265,863,880 | €265,863,880 | = | 0.0% |
| Capital | 10 | €220,321,512 | €220,321,512 | = | 0.0% |
| Issued capital | 100 | €220,321,512 | €220,321,512 | = | 0.0% |
| Contributions outside capital | 11 | €45,542,368 | €45,542,368 | = | 0.0% |
| Share premium | 1100/10 | €45,542,368 | €45,542,368 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€251,057,223 | -€246,562,533 | +€4.5m | +1.8% |
| Amounts payable | 17/49 | €8,652,316 | €2,869,721 | -€5.8m | -66.8% |
| Amounts payable within one year | 42/48 | €8,652,316 | €2,869,721 | -€5.8m | -66.8% |
| Trade debts | 44 | €76,512 | €2,658,671 | +€2.6m | +3,375% |
| Suppliers | 440/4 | €76,512 | €2,658,671 | +€2.6m | +3,375% |
| Taxes, remuneration and social security | 45 | €8,573,855 | €211,050 | -€8.4m | -97.5% |
| Taxes | 450/3 | €8,573,855 | €211,050 | -€8.4m | -97.5% |
| Other amounts payable | 47/48 | €1,949 | €0 | -€1,949 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Other operating charges | 640/8 | €2,127 | €998 | -€1,129 | -53.1% |
| Gross operating margin | 9900 | -€762,036 | -€4,601,185 | -€3.8m | -504% |
| Operating profit (loss) | 9901 | -€764,163 | -€4,602,183 | -€3.8m | -502% |
| Financial income | 75/76B | €624,918 | €665,958 | +€41,040 | +6.6% |
| Recurring financial income | 75 | €624,918 | €665,958 | +€41,040 | +6.6% |
| Financial charges | 65/66B | €12,780 | €7,490 | -€5,290 | -41.4% |
| Recurring financial charges | 65 | €12,780 | €7,490 | -€5,290 | -41.4% |
| Profit (loss) for the period before taxes | 9903 | -€152,025 | -€3,943,715 | -€3.8m | -2,494% |
| Income taxes | 67/77 | €179,916 | -€8,438,405 | -€8.6m | |
| Profit (loss) for the period | 9904 | -€331,940 | €4,494,690 | +€4.8m | |
| Profit (loss) for the period to be appropriated | 9905 | -€331,940 | €4,494,690 | +€4.8m |
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 30 October 2026 via checked.be.