T - REGS: 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 - REGS
Largest movements
- Current investments -€342,797
down €342,797 (-28.8%), from €1.2m to €847,644
- Cash +€149,455
up €149,455 (+114%), from €131,406 to €280,861
mainly Current investments (+€342,797) and Net result for the year (+€176,033)
- Receivables within one year +€26,869
up €26,869 (+25.0%), from €107,318 to €134,187
of which Other amounts receivable: +€19,881
- Deferred charges and accrued income -€19,405
down €19,405 (-79.4%), from €24,445 to €5,040
- Other debts -€116,146
down €116,146 (-90.4%), from €128,541 to €12,395
- Tax, wage and social debts -€37,343
down €37,343 (-81.9%), from €45,585 to €8,242
of which Taxes: -€28,582
- Reserves -€35,063
down €35,063 (-2.8%), from €1.3m to €1.2m
of which Tax-exempt reserves: -€47,950
- Financial charges +€54,488
up €54,488 (+479%), from €11,377 to €65,865
- Gross operating margin -€33,711
down €33,711 (-10.8%), from €312,727 to €279,016
- Taxes -€31,377
down €31,377 (-27.1%), from €115,882 to €84,505
- Financial income -€12,331
down €12,331 (-19.2%), from €64,229 to €51,898
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 | €1,460,945 | €1,278,363 | -€182,583 | -12.5% |
| Fixed assets | 21/28 | €7,336 | €10,631 | +€3,295 | +44.9% |
| Intangible fixed assets | 21 | €2,385 | €1,385 | -€1,000 | -41.9% |
| Tangible fixed assets | 22/27 | €4,951 | €9,246 | +€4,295 | +86.8% |
| Plant, machinery and equipment | 23 | €315 | €0 | -€315 | -100% |
| Furniture and vehicles | 24 | €4,635 | €9,246 | +€4,611 | +99.5% |
| Other tangible fixed assets | 26 | €0 | €0 | -€0 | -100% |
| Current assets | 29/58 | €1,453,609 | €1,267,731 | -€185,878 | -12.8% |
| Amounts receivable within one year | 40/41 | €107,318 | €134,187 | +€26,869 | +25.0% |
| Trade receivables | 40 | €107,318 | €114,306 | +€6,988 | +6.5% |
| Other amounts receivable | 41 | - | €19,881 | +€19,881 | |
| Current investments | 50/53 | €1,190,441 | €847,644 | -€342,797 | -28.8% |
| Cash at bank and in hand | 54/58 | €131,406 | €280,861 | +€149,455 | +114% |
| Deferred charges and accrued income | 490/1 | €24,445 | €5,040 | -€19,405 | -79.4% |
| Total equity and liabilities | 10/49 | €1,460,945 | €1,278,363 | -€182,583 | -12.5% |
| Equity | 10/15 | €1,271,904 | €1,236,841 | -€35,063 | -2.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,253,312 | €1,218,249 | -€35,063 | -2.8% |
| Tax-exempt reserves | 132 | €47,950 | €0 | -€47,950 | -100% |
| Distributable reserves | 133 | €1,205,362 | €1,218,249 | +€12,887 | +1.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €189,041 | €41,521 | -€147,520 | -78.0% |
| Amounts payable within one year | 42/48 | €188,606 | €32,850 | -€155,756 | -82.6% |
| Trade debts | 44 | €14,479 | €12,213 | -€2,267 | -15.7% |
| Suppliers | 440/4 | €14,479 | €12,213 | -€2,267 | -15.7% |
| Taxes, remuneration and social security | 45 | €45,585 | €8,242 | -€37,343 | -81.9% |
| Taxes | 450/3 | €36,824 | €8,242 | -€28,582 | -77.6% |
| Remuneration and social security | 454/9 | €8,761 | €0 | -€8,761 | -100% |
| Other amounts payable | 47/48 | €128,541 | €12,395 | -€116,146 | -90.4% |
| Accrued charges and deferred income | 492/3 | €435 | €8,671 | +€8,236 | +1,893% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,694 | €3,031 | -€664 | -18.0% |
| Other operating charges | 640/8 | €1,145 | €1,480 | +€334 | +29.2% |
| Gross operating margin | 9900 | €312,727 | €279,016 | -€33,711 | -10.8% |
| Operating profit (loss) | 9901 | €307,887 | €274,505 | -€33,382 | -10.8% |
| Financial income | 75/76B | €64,229 | €51,898 | -€12,331 | -19.2% |
| Recurring financial income | 75 | €64,229 | €51,898 | -€12,331 | -19.2% |
| Financial charges | 65/66B | €11,377 | €65,865 | +€54,488 | +479% |
| Recurring financial charges | 65 | €11,377 | €65,865 | +€54,488 | +479% |
| Profit (loss) for the period before taxes | 9903 | €360,740 | €260,538 | -€100,201 | -27.8% |
| Income taxes | 67/77 | €115,882 | €84,505 | -€31,377 | -27.1% |
| Profit (loss) for the period | 9904 | €244,857 | €176,033 | -€68,824 | -28.1% |
| Transfer from tax-exempt reserves | 789 | €36,250 | €47,950 | +€11,700 | +32.3% |
| Profit (loss) for the period to be appropriated | 9905 | €281,107 | €223,983 | -€57,124 | -20.3% |
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 14 October 2026 via checked.be.