T-BEHEER: 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.
T-BEHEER
Largest movements
- Cash +€166,305
up €166,305 (+95.5%), from €174,157 to €340,462
mainly Net result for the year (+€187,937) and Depreciation (+€83,217)
- Tangible fixed assets -€83,217
down €83,217 (-3.8%), from €2.2m to €2.1m
of which Land and buildings: -€77,577
- Reserves +€187,937
up €187,937 (+7.0%), from €2.7m to €2.9m
of which Distributable reserves: +€189,797
- Debts after one year -€78,009
down €78,009 (-64.2%), from €121,538 to €43,529
of which Financial debts: -€78,009
- Gross operating margin +€10,929
up €10,929 (+3.4%), from €322,703 to €333,632
- Taxes +€4,592
up €4,592 (+7.9%), from €58,468 to €63,060
- Financial income +€4,084
up €4,084 (+18.3%), from €22,326 to €26,409
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 | €3,048,617 | €3,151,557 | +€102,940 | +3.4% |
| Fixed assets | 21/28 | €2,194,464 | €2,111,247 | -€83,217 | -3.8% |
| Tangible fixed assets | 22/27 | €2,194,464 | €2,111,247 | -€83,217 | -3.8% |
| Land and buildings | 22 | €2,148,843 | €2,071,266 | -€77,577 | -3.6% |
| Furniture and vehicles | 24 | €45,621 | €39,981 | -€5,640 | -12.4% |
| Current assets | 29/58 | €854,153 | €1,040,310 | +€186,156 | +21.8% |
| Amounts receivable after more than one year | 29 | €400,000 | €400,000 | = | 0.0% |
| Other amounts receivable | 291 | €400,000 | €400,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,311 | €18,573 | +€15,262 | +461% |
| Trade receivables | 40 | €512 | €467 | -€45 | -8.7% |
| Other amounts receivable | 41 | €2,799 | €18,106 | +€15,307 | +547% |
| Current investments | 50/53 | €276,110 | €280,152 | +€4,042 | +1.5% |
| Cash at bank and in hand | 54/58 | €174,157 | €340,462 | +€166,305 | +95.5% |
| Deferred charges and accrued income | 490/1 | €576 | €1,123 | +€547 | +95.0% |
| Total equity and liabilities | 10/49 | €3,048,617 | €3,151,557 | +€102,940 | +3.4% |
| Equity | 10/15 | €2,829,933 | €3,017,870 | +€187,937 | +6.6% |
| Contributions | 10/11 | €132,288 | €132,288 | = | 0.0% |
| Reserves | 13 | €2,697,645 | €2,885,582 | +€187,937 | +7.0% |
| Tax-exempt reserves | 132 | €32,236 | €30,376 | -€1,860 | -5.8% |
| Distributable reserves | 133 | €2,665,409 | €2,855,206 | +€189,797 | +7.1% |
| Provisions and deferred taxes | 16 | €10,745 | €10,125 | -€620 | -5.8% |
| Deferred taxes | 168 | €10,745 | €10,125 | -€620 | -5.8% |
| Amounts payable | 17/49 | €207,939 | €123,562 | -€84,377 | -40.6% |
| Amounts payable after more than one year | 17 | €121,538 | €43,529 | -€78,009 | -64.2% |
| Financial debts | 170/4 | €78,009 | €0 | -€78,009 | -100% |
| Other amounts payable | 178/9 | €43,529 | €43,529 | = | 0.0% |
| Amounts payable within one year | 42/48 | €84,635 | €78,266 | -€6,369 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €83,868 | €78,009 | -€5,860 | -7.0% |
| Trade debts | 44 | €766 | €257 | -€509 | -66.4% |
| Suppliers | 440/4 | €766 | €257 | -€509 | -66.4% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,767 | €1,767 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,752 | €83,217 | -€1,536 | -1.8% |
| Other operating charges | 640/8 | €24,768 | €24,215 | -€553 | -2.2% |
| Gross operating margin | 9900 | €322,703 | €333,632 | +€10,929 | +3.4% |
| Operating profit (loss) | 9901 | €213,183 | €226,201 | +€13,018 | +6.1% |
| Financial income | 75/76B | €22,326 | €26,409 | +€4,084 | +18.3% |
| Recurring financial income | 75 | €22,326 | €26,409 | +€4,084 | +18.3% |
| Financial charges | 65/66B | €3,451 | €2,233 | -€1,217 | -35.3% |
| Recurring financial charges | 65 | €3,451 | €2,233 | -€1,217 | -35.3% |
| Profit (loss) for the period before taxes | 9903 | €232,058 | €250,377 | +€18,319 | +7.9% |
| Transfer from deferred taxes | 780 | €620 | €620 | = | 0.0% |
| Income taxes | 67/77 | €58,468 | €63,060 | +€4,592 | +7.9% |
| Profit (loss) for the period | 9904 | €174,210 | €187,937 | +€13,728 | +7.9% |
| Transfer from tax-exempt reserves | 789 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €176,069 | €189,797 | +€13,728 | +7.8% |
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 17 October 2026 via checked.be.