THE SUMMIT: what changed
Two fiscal 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 SUMMIT
Largest movements
- Receivables within one year +€804,571
up €804,571 (+79.4%), from €1.0m to €1.8m
of which Other amounts receivable: +€797,807
- Cash -€252,035
down €252,035 (-14.0%), from €1.8m to €1.5m
mainly Receivables within one year (-€804,571) and Other debts (-€250,000)
- Tangible fixed assets -€121,717
down €121,717 (-30.4%), from €400,583 to €278,866
of which Land and buildings: -€111,129
- Reserves +€336,800
up €336,800 (+79.6%), from €422,860 to €759,660
of which Tax-exempt reserves: +€336,800
- Other debts -€250,000
down €250,000 (-26.3%), from €950,787 to €700,787
- Profit (loss) carried forward +€200,472
up €200,472 (+19.7%), from €1.0m to €1.2m
- Trade debts +€144,421
up €144,421 (+25.9%), from €558,460 to €702,881
- Staff costs +€304,045
up €304,045 (+14.7%), from €2.1m to €2.4m
- Gross operating margin +€89,581
up €89,581 (+2.8%), from €3.2m to €3.3m
- Taxes -€52,398
down €52,398 (-21.5%), from €243,665 to €191,267
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 | €3,283,104 | €3,738,766 | +€455,662 | +13.9% |
| Fixed assets | 21/28 | €401,800 | €279,879 | -€121,921 | -30.3% |
| Intangible fixed assets | 21 | €205 | €0 | -€205 | -100.0% |
| Tangible fixed assets | 22/27 | €400,583 | €278,866 | -€121,717 | -30.4% |
| Land and buildings | 22 | €247,437 | €136,308 | -€111,129 | -44.9% |
| Plant, machinery and equipment | 23 | €134,689 | €113,457 | -€21,233 | -15.8% |
| Furniture and vehicles | 24 | €15,368 | €15,548 | +€180 | +1.2% |
| Other tangible fixed assets | 26 | €3,088 | €13,553 | +€10,464 | +338.8% |
| Financial fixed assets | 28 | €1,013 | €1,013 | = | 0.0% |
| Current assets | 29/58 | €2,881,304 | €3,458,887 | +€577,583 | +20.0% |
| Stocks and contracts in progress | 3 | €28,126 | €29,569 | +€1,444 | +5.1% |
| Stocks | 30/36 | €28,126 | €29,569 | +€1,444 | +5.1% |
| Amounts receivable within one year | 40/41 | €1,013,207 | €1,817,777 | +€804,571 | +79.4% |
| Trade receivables | 40 | €31,706 | €38,469 | +€6,763 | +21.3% |
| Other amounts receivable | 41 | €981,501 | €1,779,308 | +€797,807 | +81.3% |
| Cash at bank and in hand | 54/58 | €1,799,451 | €1,547,415 | -€252,035 | -14.0% |
| Deferred charges and accrued income | 490/1 | €40,521 | €64,125 | +€23,604 | +58.3% |
| Total equity and liabilities | 10/49 | €3,283,104 | €3,738,766 | +€455,662 | +13.9% |
| Equity | 10/15 | €1,447,960 | €1,985,232 | +€537,272 | +37.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €422,860 | €759,660 | +€336,800 | +79.6% |
| Tax-exempt reserves | 132 | €421,000 | €757,800 | +€336,800 | +80.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,018,900 | €1,219,372 | +€200,472 | +19.7% |
| Amounts payable | 17/49 | €1,835,144 | €1,753,534 | -€81,610 | -4.4% |
| Amounts payable within one year | 42/48 | €1,835,144 | €1,753,534 | -€81,610 | -4.4% |
| Financial debts | 43 | €75,312 | €72,374 | -€2,938 | -3.9% |
| Credit institutions | 430/8 | - | €1,978 | +€1,978 | |
| Other loans | 439 | €75,312 | €70,396 | -€4,916 | -6.5% |
| Trade debts | 44 | €558,460 | €702,881 | +€144,421 | +25.9% |
| Suppliers | 440/4 | €558,460 | €702,881 | +€144,421 | +25.9% |
| Taxes, remuneration and social security | 45 | €250,586 | €277,492 | +€26,907 | +10.7% |
| Taxes | 450/3 | €10,101 | €13,831 | +€3,730 | +36.9% |
| Remuneration and social security | 454/9 | €240,484 | €263,661 | +€23,177 | +9.6% |
| Other amounts payable | 47/48 | €950,787 | €700,787 | -€250,000 | -26.3% |
| Non-recurring operating income | 76A | €2,140 | €0 | -€2,140 | -100.0% |
| Remuneration, social security and pensions | 62 | €2,073,305 | €2,377,350 | +€304,045 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164,808 | €168,290 | +€3,482 | +2.1% |
| Other operating charges | 640/8 | €32,625 | €33,085 | +€460 | +1.4% |
| Non-recurring operating charges | 66A | €642 | €90 | -€552 | -86.0% |
| Gross operating margin | 9900 | €3,231,462 | €3,321,044 | +€89,581 | +2.8% |
| Operating profit (loss) | 9901 | €960,082 | €742,230 | -€217,852 | -22.7% |
| Financial income | 75/76B | €15,293 | €10 | -€15,283 | -99.9% |
| Recurring financial income | 75 | €15,293 | €10 | -€15,283 | -99.9% |
| Financial charges | 65/66B | €12,318 | €13,700 | +€1,382 | +11.2% |
| Recurring financial charges | 65 | €12,318 | €13,700 | +€1,382 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €963,056 | €728,539 | -€234,518 | -24.4% |
| Income taxes | 67/77 | €243,665 | €191,267 | -€52,398 | -21.5% |
| Profit (loss) for the period | 9904 | €719,392 | €537,272 | -€182,120 | -25.3% |
| Transfer to tax-exempt reserves | 689 | €421,000 | €336,800 | -€84,200 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €298,392 | €200,472 | -€97,920 | -32.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.