SPEECH ACT: 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.
SPEECH ACT
Largest movements
- Cash +€247,146
up €247,146 (+1634.0%), from €15,125 to €262,271
mainly Net result for the year (+€299,494) and Tax, wage and social debts (+€131,075)
- Receivables within one year +€176,519
up €176,519 (+435.5%), from €40,529 to €217,048
of which Trade receivables: +€206,677
- Tangible fixed assets -€27,796
down €27,796 (-3.7%), from €747,377 to €719,581
of which Land and buildings: -€23,870
- Reserves +€295,820
up €295,820 (+12108.9%), from €2,443 to €298,263
of which Distributable reserves: +€295,820
- Tax, wage and social debts +€131,075
up €131,075 (+1050.7%), from €12,475 to €143,550
- Debts after one year -€50,718
down €50,718 (-7.2%), from €704,899 to €654,181
of which Financial debts: -€32,718
- Other debts +€36,648
up €36,648 (+199.0%), from €18,413 to €55,061
- Gross operating margin +€400,508
up €400,508 (+1152.4%), from €34,755 to €435,263
- Taxes +€98,630
up €98,630 (+14966.6%), from €659 to €99,289
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 | €806,527 | €1,202,673 | +€396,146 | +49.1% |
| Fixed assets | 21/28 | €749,987 | €722,191 | -€27,796 | -3.7% |
| Tangible fixed assets | 22/27 | €747,377 | €719,581 | -€27,796 | -3.7% |
| Land and buildings | 22 | €742,201 | €718,331 | -€23,870 | -3.2% |
| Furniture and vehicles | 24 | €5,176 | €1,250 | -€3,926 | -75.9% |
| Financial fixed assets | 28 | €2,610 | €2,610 | = | 0.0% |
| Current assets | 29/58 | €56,540 | €480,482 | +€423,942 | +749.8% |
| Amounts receivable within one year | 40/41 | €40,529 | €217,048 | +€176,519 | +435.5% |
| Trade receivables | 40 | €10,371 | €217,048 | +€206,677 | +1992.8% |
| Other amounts receivable | 41 | €30,158 | - | -€30,158 | |
| Cash at bank and in hand | 54/58 | €15,125 | €262,271 | +€247,146 | +1634.0% |
| Deferred charges and accrued income | 490/1 | €886 | €1,163 | +€277 | +31.3% |
| Total equity and liabilities | 10/49 | €806,527 | €1,202,673 | +€396,146 | +49.1% |
| Equity | 10/15 | €17,669 | €317,163 | +€299,494 | +1695.0% |
| Contributions | 10/11 | €18,900 | €18,900 | = | 0.0% |
| Reserves | 13 | €2,443 | €298,263 | +€295,820 | +12108.9% |
| 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 | €583 | €296,403 | +€295,820 | +50741.0% |
| Profit (loss) carried forward | 14 | -€3,674 | - | +€3,674 | |
| Amounts payable | 17/49 | €788,858 | €885,510 | +€96,652 | +12.3% |
| Amounts payable after more than one year | 17 | €704,899 | €654,181 | -€50,718 | -7.2% |
| Financial debts | 170/4 | €564,113 | €531,395 | -€32,718 | -5.8% |
| Other amounts payable | 178/9 | €140,786 | €122,786 | -€18,000 | -12.8% |
| Amounts payable within one year | 42/48 | €74,809 | €231,329 | +€156,520 | +209.2% |
| Current portion of amounts payable after more than one year | 42 | €43,921 | €32,718 | -€11,203 | -25.5% |
| Taxes, remuneration and social security | 45 | €12,475 | €143,550 | +€131,075 | +1050.7% |
| Taxes | 450/3 | €12,475 | €143,550 | +€131,075 | +1050.7% |
| Other amounts payable | 47/48 | €18,413 | €55,061 | +€36,648 | +199.0% |
| Accrued charges and deferred income | 492/3 | €9,150 | - | -€9,150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,796 | €27,796 | = | 0.0% |
| Gross operating margin | 9900 | €34,755 | €435,263 | +€400,508 | +1152.4% |
| Operating profit (loss) | 9901 | €6,959 | €407,467 | +€400,508 | +5755.3% |
| Financial income | 75/76B | €64 | €597 | +€533 | +832.8% |
| Recurring financial income | 75 | €64 | €597 | +€533 | +832.8% |
| Financial charges | 65/66B | €10,038 | €9,281 | -€757 | -7.5% |
| Recurring financial charges | 65 | €10,038 | €9,281 | -€757 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,015 | €398,783 | +€401,798 | |
| Income taxes | 67/77 | €659 | €99,289 | +€98,630 | +14966.6% |
| Profit (loss) for the period | 9904 | -€3,674 | €299,494 | +€303,168 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,674 | €299,494 | +€303,168 |
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 6 October 2026 via checked.be.