TASK: 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.
TASK
Largest movements
- Cash +€135,009
up €135,009 (+30.1%), from €448,891 to €583,900
mainly Net result for the year (+€242,172) and Current investments (+€112,588)
- Current investments -€112,588
down €112,588 (-22.1%), from €509,758 to €397,170
- Receivables within one year -€89,397
down €89,397 (-46.6%), from €191,903 to €102,506
of which Trade receivables: -€80,092
- Reserves -€268,276
down €268,276 (-29.6%), from €904,965 to €636,689
of which Distributable reserves: -€268,276
- Other debts +€103,559
up €103,559 (+89.8%), from €115,381 to €218,940
- Trade debts +€102,750
up €102,750 (+73.2%), from €140,297 to €243,047
- Gross operating margin +€21,898
up €21,898 (+6.5%), from €337,918 to €359,816
- Taxes +€8,002
up €8,002 (+7.8%), from €102,611 to €110,612
- Financial income -€6,076
down €6,076 (-26.8%), from €22,689 to €16,613
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 | €1,202,405 | €1,144,705 | -€57,700 | -4.8% |
| Fixed assets | 21/28 | €38,222 | €50,151 | +€11,928 | +31.2% |
| Tangible fixed assets | 22/27 | €38,222 | €50,151 | +€11,928 | +31.2% |
| Plant, machinery and equipment | 23 | €761 | €556 | -€205 | -26.9% |
| Furniture and vehicles | 24 | €24,786 | €15,634 | -€9,153 | -36.9% |
| Other tangible fixed assets | 26 | €12,675 | €33,961 | +€21,286 | +168% |
| Current assets | 29/58 | €1,164,182 | €1,094,554 | -€69,628 | -6.0% |
| Stocks and contracts in progress | 3 | €50 | €51 | +€1 | +1.4% |
| Stocks | 30/36 | €50 | €51 | +€1 | +1.4% |
| Amounts receivable within one year | 40/41 | €191,903 | €102,506 | -€89,397 | -46.6% |
| Trade receivables | 40 | €141,598 | €61,506 | -€80,092 | -56.6% |
| Other amounts receivable | 41 | €50,305 | €41,000 | -€9,305 | -18.5% |
| Current investments | 50/53 | €509,758 | €397,170 | -€112,588 | -22.1% |
| Cash at bank and in hand | 54/58 | €448,891 | €583,900 | +€135,009 | +30.1% |
| Deferred charges and accrued income | 490/1 | €13,580 | €10,927 | -€2,653 | -19.5% |
| Total equity and liabilities | 10/49 | €1,202,405 | €1,144,705 | -€57,700 | -4.8% |
| Equity | 10/15 | €923,565 | €655,289 | -€268,276 | -29.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €904,965 | €636,689 | -€268,276 | -29.6% |
| 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 | €903,105 | €634,829 | -€268,276 | -29.7% |
| Amounts payable | 17/49 | €278,840 | €489,416 | +€210,576 | +75.5% |
| Amounts payable within one year | 42/48 | €278,602 | €489,416 | +€210,813 | +75.7% |
| Trade debts | 44 | €140,297 | €243,047 | +€102,750 | +73.2% |
| Suppliers | 440/4 | €140,297 | €243,047 | +€102,750 | +73.2% |
| Taxes, remuneration and social security | 45 | €22,924 | €27,428 | +€4,504 | +19.6% |
| Taxes | 450/3 | €22,924 | €27,428 | +€4,504 | +19.6% |
| Other amounts payable | 47/48 | €115,381 | €218,940 | +€103,559 | +89.8% |
| Accrued charges and deferred income | 492/3 | €237 | - | -€237 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,205 | €21,873 | -€2,333 | -9.6% |
| Other operating charges | 640/8 | €1,490 | €1,407 | -€83 | -5.6% |
| Gross operating margin | 9900 | €337,918 | €359,816 | +€21,898 | +6.5% |
| Operating profit (loss) | 9901 | €312,223 | €336,536 | +€24,313 | +7.8% |
| Financial income | 75/76B | €22,689 | €16,613 | -€6,076 | -26.8% |
| Recurring financial income | 75 | €22,689 | €16,613 | -€6,076 | -26.8% |
| Financial charges | 65/66B | €551 | €364 | -€187 | -33.9% |
| Recurring financial charges | 65 | €551 | €364 | -€187 | -33.9% |
| Profit (loss) for the period before taxes | 9903 | €334,361 | €352,785 | +€18,424 | +5.5% |
| Income taxes | 67/77 | €102,611 | €110,612 | +€8,002 | +7.8% |
| Profit (loss) for the period | 9904 | €231,751 | €242,172 | +€10,422 | +4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €231,751 | €242,172 | +€10,422 | +4.5% |
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 19 October 2026 via checked.be.