TAKE FIVE: 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.
TAKE FIVE
Largest movements
- Cash +€758,235
up €758,235 (+1,910%), from €39,695 to €797,930
mainly Accrued charges and deferred income (+€438,300) and Depreciation (+€429,167)
- Intangible fixed assets +€93,602
up €93,602 (+4.7%), from €2.0m to €2.1m
- Receivables within one year -€33,998
down €33,998 (-8.0%), from €425,558 to €391,560
of which Trade receivables: -€20,231
- Accrued charges and deferred income +€438,300
new in 2025: €438,300
- Investment grants +€308,238
up €308,238 (+23.6%), from €1.3m to €1.6m
- Profit (loss) carried forward +€141,829
up €141,829 (+1,715%), from €8,270 to €150,099
- Other debts -€127,404
down €127,404 (-36.5%), from €348,712 to €221,307
- Provisions +€74,042
up €74,042 (+15.5%), from €478,446 to €552,488
- Gross operating margin +€347,722
up €347,722 (+136%), from €254,775 to €602,497
- Depreciation +€190,417
up €190,417 (+79.8%), from €238,750 to €429,167
- Staff costs +€50,911
up €50,911 (+46.0%), from €110,656 to €161,568
- Taxes +€44,271
up €44,271 (+458%), from €9,669 to €53,939
- Financial charges -€14,790
down €14,790 (-35.5%), from €41,706 to €26,916
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 | €2,471,103 | €3,288,942 | +€817,839 | +33.1% |
| Fixed assets | 21/28 | €2,005,850 | €2,099,452 | +€93,602 | +4.7% |
| Intangible fixed assets | 21 | €2,005,850 | €2,099,452 | +€93,602 | +4.7% |
| Current assets | 29/58 | €465,253 | €1,189,490 | +€724,237 | +156% |
| Amounts receivable within one year | 40/41 | €425,558 | €391,560 | -€33,998 | -8.0% |
| Trade receivables | 40 | €88,856 | €68,624 | -€20,231 | -22.8% |
| Other amounts receivable | 41 | €336,702 | €322,935 | -€13,767 | -4.1% |
| Cash at bank and in hand | 54/58 | €39,695 | €797,930 | +€758,235 | +1,910% |
| Total equity and liabilities | 10/49 | €2,471,103 | €3,288,942 | +€817,839 | +33.1% |
| Equity | 10/15 | €1,335,158 | €1,785,224 | +€450,067 | +33.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,270 | €150,099 | +€141,829 | +1,715% |
| Investment grants | 15 | €1,306,428 | €1,614,665 | +€308,238 | +23.6% |
| Provisions and deferred taxes | 16 | €478,446 | €552,488 | +€74,042 | +15.5% |
| Deferred taxes | 168 | €478,446 | €552,488 | +€74,042 | +15.5% |
| Amounts payable | 17/49 | €657,500 | €951,230 | +€293,730 | +44.7% |
| Amounts payable within one year | 42/48 | €657,500 | €512,930 | -€144,570 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | €23,390 | - | -€23,390 | |
| Trade debts | 44 | €250,361 | €206,482 | -€43,879 | -17.5% |
| Suppliers | 440/4 | €250,361 | €206,482 | -€43,879 | -17.5% |
| Taxes, remuneration and social security | 45 | €35,037 | €85,140 | +€50,103 | +143% |
| Taxes | 450/3 | €12,246 | €57,235 | +€44,989 | +367% |
| Remuneration and social security | 454/9 | €22,791 | €27,905 | +€5,114 | +22.4% |
| Other amounts payable | 47/48 | €348,712 | €221,307 | -€127,404 | -36.5% |
| Accrued charges and deferred income | 492/3 | - | €438,300 | +€438,300 | |
| Remuneration, social security and pensions | 62 | €110,656 | €161,568 | +€50,911 | +46.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €238,750 | €429,167 | +€190,417 | +79.8% |
| Other operating charges | 640/8 | €957 | €2,829 | +€1,872 | +196% |
| Gross operating margin | 9900 | €254,775 | €602,497 | +€347,722 | +136% |
| Operating profit (loss) | 9901 | -€95,588 | €8,934 | +€104,522 | |
| Financial income | 75/76B | €143,187 | €138,786 | -€4,402 | -3.1% |
| Recurring financial income | 75 | €143,187 | €138,786 | -€4,402 | -3.1% |
| Financial charges | 65/66B | €41,706 | €26,916 | -€14,790 | -35.5% |
| Recurring financial charges | 65 | €41,706 | €26,916 | -€14,790 | -35.5% |
| Profit (loss) for the period before taxes | 9903 | €5,893 | €120,803 | +€114,910 | +1,950% |
| Transfer from deferred taxes | 780 | €68,998 | €74,965 | +€5,967 | +8.6% |
| Income taxes | 67/77 | €9,669 | €53,939 | +€44,271 | +458% |
| Profit (loss) for the period | 9904 | €65,223 | €141,829 | +€76,606 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €65,223 | €141,829 | +€76,606 | +117% |
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 15 October 2026 via checked.be.