the fat cat: 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.
the fat cat
Largest movements
- Receivables within one year +€23,454
up €23,454 (+78.0%), from €30,069 to €53,523
of which Trade receivables: +€43,523
- Cash +€15,510
up €15,510 (+148%), from €10,499 to €26,009
mainly Net result for the year (+€22,532) and Tax, wage and social debts (+€15,196)
- Tangible fixed assets -€9,132
down €9,132 (-3.2%), from €287,696 to €278,565
of which Land and buildings: -€6,918
- Reserves +€22,532
up €22,532 (+55.4%), from €40,697 to €63,228
of which Distributable reserves: +€22,532
- Tax, wage and social debts +€15,196
up €15,196 (+192%), from €7,902 to €23,098
- Debts after one year -€13,863
down €13,863 (-5.1%), from €274,428 to €260,564
- Other debts +€9,585
new in 2025: €9,585
- Gross operating margin +€31,269
up €31,269 (+84.6%), from €36,943 to €68,212
- Taxes +€11,308
up €11,308 (+486%), from €2,326 to €13,633
- Depreciation -€3,899
down €3,899 (-22.2%), from €17,576 to €13,677
- Financial income -€924
down €924 (-95.0%), from €972 to €48
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 | €379,795 | €409,627 | +€29,832 | +7.9% |
| Fixed assets | 21/28 | €338,793 | €329,661 | -€9,132 | -2.7% |
| Tangible fixed assets | 22/27 | €287,696 | €278,565 | -€9,132 | -3.2% |
| Land and buildings | 22 | €280,418 | €273,499 | -€6,918 | -2.5% |
| Plant, machinery and equipment | 23 | €83 | €83 | = | 0.0% |
| Furniture and vehicles | 24 | €7,196 | €4,983 | -€2,213 | -30.8% |
| Financial fixed assets | 28 | €51,097 | €51,097 | = | 0.0% |
| Current assets | 29/58 | €41,002 | €79,966 | +€38,964 | +95.0% |
| Amounts receivable within one year | 40/41 | €30,069 | €53,523 | +€23,454 | +78.0% |
| Trade receivables | 40 | €10,000 | €53,523 | +€43,523 | +435% |
| Other amounts receivable | 41 | €20,069 | - | -€20,069 | |
| Current investments | 50/53 | €434 | €434 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,499 | €26,009 | +€15,510 | +148% |
| Total equity and liabilities | 10/49 | €379,795 | €409,627 | +€29,832 | +7.9% |
| Equity | 10/15 | €46,897 | €69,428 | +€22,532 | +48.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €40,697 | €63,228 | +€22,532 | +55.4% |
| 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 | €38,837 | €61,368 | +€22,532 | +58.0% |
| Amounts payable | 17/49 | €332,898 | €340,199 | +€7,301 | +2.2% |
| Amounts payable after more than one year | 17 | €274,428 | €260,564 | -€13,863 | -5.1% |
| Financial debts | 170/4 | €274,428 | €260,564 | -€13,863 | -5.1% |
| Amounts payable within one year | 42/48 | €58,470 | €79,634 | +€21,164 | +36.2% |
| Current portion of amounts payable after more than one year | 42 | €13,863 | €13,863 | = | 0.0% |
| Trade debts | 44 | €24,605 | €20,988 | -€3,616 | -14.7% |
| Suppliers | 440/4 | €24,605 | €20,988 | -€3,616 | -14.7% |
| Advances received on contracts in progress | 46 | €12,100 | €12,100 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €7,902 | €23,098 | +€15,196 | +192% |
| Taxes | 450/3 | €7,902 | €23,098 | +€15,196 | +192% |
| Other amounts payable | 47/48 | - | €9,585 | +€9,585 | |
| Non-recurring operating income | 76A | - | €4,240 | +€4,240 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,576 | €13,677 | -€3,899 | -22.2% |
| Other operating charges | 640/8 | €2,757 | €2,544 | -€213 | -7.7% |
| Non-recurring operating charges | 66A | - | €4,232 | +€4,232 | |
| Gross operating margin | 9900 | €36,943 | €68,212 | +€31,269 | +84.6% |
| Operating profit (loss) | 9901 | €16,610 | €47,759 | +€31,150 | +188% |
| Financial income | 75/76B | €972 | €48 | -€924 | -95.0% |
| Recurring financial income | 75 | €972 | €48 | -€924 | -95.0% |
| Financial charges | 65/66B | €11,928 | €11,642 | -€286 | -2.4% |
| Recurring financial charges | 65 | €11,928 | €11,642 | -€286 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €5,654 | €36,165 | +€30,512 | +540% |
| Income taxes | 67/77 | €2,326 | €13,633 | +€11,308 | +486% |
| Profit (loss) for the period | 9904 | €3,328 | €22,532 | +€19,204 | +577% |
| Profit (loss) for the period to be appropriated | 9905 | €3,328 | €22,532 | +€19,204 | +577% |
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 20 October 2026 via checked.be.