The Risk Interpreter: 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 Risk Interpreter
Largest movements
- Cash -€38,604
down €38,604 (-41.2%), from €93,717 to €55,113
mainly Contributions, distributions and other (-€36,385) and Receivables within one year (-€18,967)
- Receivables within one year +€18,967
up €18,967 (+24.8%), from €76,363 to €95,330
of which Other amounts receivable: +€32,814
- Intangible fixed assets +€9,306
up €9,306, from €0 to €9,306
- Trade debts +€25,544
up €25,544 (+63.8%), from €40,033 to €65,577
- Debts after one year -€14,745
down €14,745 (-52.1%), from €28,314 to €13,569
- Current portion of long-term debt -€12,340
down €12,340 (-45.6%), from €27,085 to €14,745
- Reserves -€4,285
down €4,285 (-13.1%), from €32,591 to €28,306
of which Distributable reserves: -€2,425
- Tax, wage and social debts -€3,577
down €3,577 (-30.2%), from €11,831 to €8,254
of which Taxes: -€3,465
- Staff costs -€61,492
down €61,492 (-95.6%), from €64,317 to €2,825
- Gross operating margin -€57,406
down €57,406 (-56.9%), from €100,976 to €43,570
- Taxes +€1,321
up €1,321 (+50.0%), from €2,643 to €3,964
- Financial charges -€1,019
down €1,019 (-25.2%), from €4,043 to €3,023
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 | €183,754 | €174,439 | -€9,316 | -5.1% |
| Fixed assets | 21/28 | €866 | €9,486 | +€8,620 | +995% |
| Intangible fixed assets | 21 | €0 | €9,306 | +€9,306 | |
| Tangible fixed assets | 22/27 | €686 | €0 | -€686 | -100% |
| Furniture and vehicles | 24 | €686 | €0 | -€686 | -100% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €182,888 | €164,953 | -€17,935 | -9.8% |
| Amounts receivable after more than one year | 29 | €12,000 | €12,000 | = | 0.0% |
| Other amounts receivable | 291 | €12,000 | €12,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €76,363 | €95,330 | +€18,967 | +24.8% |
| Trade receivables | 40 | €62,991 | €49,144 | -€13,847 | -22.0% |
| Other amounts receivable | 41 | €13,372 | €46,186 | +€32,814 | +245% |
| Cash at bank and in hand | 54/58 | €93,717 | €55,113 | -€38,604 | -41.2% |
| Deferred charges and accrued income | 490/1 | €808 | €2,510 | +€1,702 | +211% |
| Total equity and liabilities | 10/49 | €183,754 | €174,439 | -€9,316 | -5.1% |
| Equity | 10/15 | €51,202 | €46,966 | -€4,236 | -8.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,591 | €28,306 | -€4,285 | -13.1% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €30,731 | €28,306 | -€2,425 | -7.9% |
| Profit (loss) carried forward | 14 | €11 | €60 | +€49 | +457% |
| Amounts payable | 17/49 | €132,553 | €127,473 | -€5,080 | -3.8% |
| Amounts payable after more than one year | 17 | €28,314 | €13,569 | -€14,745 | -52.1% |
| Financial debts | 170/4 | €28,314 | €13,569 | -€14,745 | -52.1% |
| Amounts payable within one year | 42/48 | €104,238 | €113,903 | +€9,665 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €27,085 | €14,745 | -€12,340 | -45.6% |
| Trade debts | 44 | €40,033 | €65,577 | +€25,544 | +63.8% |
| Suppliers | 440/4 | €40,033 | €65,577 | +€25,544 | +63.8% |
| Taxes, remuneration and social security | 45 | €11,831 | €8,254 | -€3,577 | -30.2% |
| Taxes | 450/3 | €7,430 | €3,964 | -€3,465 | -46.6% |
| Remuneration and social security | 454/9 | €4,401 | €4,290 | -€111 | -2.5% |
| Other amounts payable | 47/48 | €25,290 | €25,327 | +€38 | +0.1% |
| Remuneration, social security and pensions | 62 | €64,317 | €2,825 | -€61,492 | -95.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,601 | €1,380 | -€221 | -13.8% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €100,976 | €43,570 | -€57,406 | -56.9% |
| Operating profit (loss) | 9901 | €34,530 | €38,822 | +€4,292 | +12.4% |
| Financial income | 75/76B | €5 | €315 | +€310 | +6,418% |
| Recurring financial income | 75 | €5 | €315 | +€310 | +6,418% |
| Financial charges | 65/66B | €4,043 | €3,023 | -€1,019 | -25.2% |
| Recurring financial charges | 65 | €4,043 | €3,023 | -€1,019 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €30,492 | €36,113 | +€5,621 | +18.4% |
| Income taxes | 67/77 | €2,643 | €3,964 | +€1,321 | +50.0% |
| Profit (loss) for the period | 9904 | €27,849 | €32,149 | +€4,300 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,849 | €32,149 | +€4,300 | +15.4% |
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 23 October 2026 via checked.be.