The Lines: 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 Lines
Largest movements
- Cash +€63,085
up €63,085 (+32.7%), from €193,117 to €256,202
mainly Net result for the year (+€57,826) and Depreciation (+€12,104)
- Receivables within one year -€9,541
down €9,541 (-15.8%), from €60,329 to €50,789
of which Trade receivables: -€13,344
- Tangible fixed assets +€7,801
up €7,801 (+18.0%), from €43,318 to €51,118
of which Land and buildings: +€18,561
- Reserves +€57,826
up €57,826 (+20.4%), from €283,157 to €340,983
- Gross operating margin -€15,265
down €15,265 (-14.3%), from €106,469 to €91,203
- Taxes -€4,874
down €4,874 (-18.2%), from €26,838 to €21,963
- Financial income -€1,330
down €1,330 (-46.4%), from €2,865 to €1,535
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.
Cash bridge derived
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 | €296,764 | €358,255 | +€61,491 | +20.7% |
| Fixed assets | 21/28 | €43,318 | €51,118 | +€7,801 | +18.0% |
| Tangible fixed assets | 22/27 | €43,318 | €51,118 | +€7,801 | +18.0% |
| Land and buildings | 22 | €6,913 | €25,475 | +€18,561 | +268.5% |
| Plant, machinery and equipment | 23 | €1,169 | €1,036 | -€133 | -11.4% |
| Furniture and vehicles | 24 | €35,236 | €24,608 | -€10,628 | -30.2% |
| Current assets | 29/58 | €253,447 | €307,137 | +€53,690 | +21.2% |
| Amounts receivable within one year | 40/41 | €60,329 | €50,789 | -€9,541 | -15.8% |
| Trade receivables | 40 | €59,302 | €45,957 | -€13,344 | -22.5% |
| Other amounts receivable | 41 | €1,028 | €4,831 | +€3,803 | +370.1% |
| Cash at bank and in hand | 54/58 | €193,117 | €256,202 | +€63,085 | +32.7% |
| Deferred charges and accrued income | 490/1 | - | €146 | +€146 | |
| Total equity and liabilities | 10/49 | €296,764 | €358,255 | +€61,491 | +20.7% |
| Equity | 10/15 | €286,157 | €343,983 | +€57,826 | +20.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €283,157 | €340,983 | +€57,826 | +20.4% |
| Distributable reserves | 133 | €283,157 | €340,983 | +€57,826 | +20.4% |
| Amounts payable | 17/49 | €10,608 | €14,272 | +€3,665 | +34.5% |
| Amounts payable within one year | 42/48 | €10,608 | €14,272 | +€3,665 | +34.5% |
| Trade debts | 44 | €90 | €3,221 | +€3,132 | +3491.2% |
| Suppliers | 440/4 | €90 | €3,221 | +€3,132 | +3491.2% |
| Taxes, remuneration and social security | 45 | €10,518 | €11,051 | +€533 | +5.1% |
| Taxes | 450/3 | €10,518 | €11,051 | +€533 | +5.1% |
| Non-recurring operating income | 76A | €388 | - | -€388 | |
| Remuneration, social security and pensions | 62 | - | €160 | +€160 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,637 | €12,104 | +€467 | +4.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €106,469 | €91,203 | -€15,265 | -14.3% |
| Operating profit (loss) | 9901 | €94,326 | €78,419 | -€15,907 | -16.9% |
| Financial income | 75/76B | €2,865 | €1,535 | -€1,330 | -46.4% |
| Recurring financial income | 75 | €2,865 | €1,535 | -€1,330 | -46.4% |
| Financial charges | 65/66B | €185 | €164 | -€21 | -11.3% |
| Recurring financial charges | 65 | €185 | €164 | -€21 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €97,006 | €79,790 | -€17,216 | -17.7% |
| Income taxes | 67/77 | €26,838 | €21,963 | -€4,874 | -18.2% |
| Profit (loss) for the period | 9904 | €70,168 | €57,826 | -€12,341 | -17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €70,168 | €57,826 | -€12,341 | -17.6% |
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 11 October 2026 via checked.be.