THEMA C: 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.
THEMA C
Largest movements
- Cash -€131,696
down €131,696 (-70.8%), from €185,895 to €54,199
mainly Contributions, distributions and other (-€280,000) and Receivables within one year (-€51,575)
- Receivables within one year +€51,575
up €51,575, from €0 to €51,575
of which Other amounts receivable: +€35,000
- Current investments -€11,555
down €11,555 (-3.6%), from €320,787 to €309,231
- Profit (loss) carried forward -€279,750
down €279,750 (-66.3%), from €421,685 to €141,935
- Other debts +€175,976
up €175,976 (+97.2%), from €181,021 to €356,997
- Tax, wage and social debts +€11,941
up €11,941 (+57.8%), from €20,671 to €32,612
- Gross operating margin -€56,645
down €56,645 (-88.8%), from €63,818 to €7,173
- Taxes -€11,232
down €11,232 (-80.8%), from €13,901 to €2,669
- Financial charges -€2,553
down €2,553 (-26.5%), from €9,618 to €7,065
- Financial income -€2,186
down €2,186 (-27.9%), from €7,842 to €5,656
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 | €653,316 | €559,837 | -€93,479 | -14.3% |
| Fixed assets | 21/28 | €144,524 | €142,897 | -€1,627 | -1.1% |
| Tangible fixed assets | 22/27 | €3,274 | €1,647 | -€1,627 | -49.7% |
| Furniture and vehicles | 24 | €2,750 | €1,298 | -€1,452 | -52.8% |
| Other tangible fixed assets | 26 | €524 | €349 | -€175 | -33.3% |
| Financial fixed assets | 28 | €141,250 | €141,250 | = | 0.0% |
| Current assets | 29/58 | €508,792 | €416,940 | -€91,852 | -18.1% |
| Amounts receivable within one year | 40/41 | €0 | €51,575 | +€51,575 | |
| Trade receivables | 40 | - | €16,575 | +€16,575 | |
| Other amounts receivable | 41 | €0 | €35,000 | +€35,000 | |
| Current investments | 50/53 | €320,787 | €309,231 | -€11,555 | -3.6% |
| Cash at bank and in hand | 54/58 | €185,895 | €54,199 | -€131,696 | -70.8% |
| Deferred charges and accrued income | 490/1 | €2,111 | €1,935 | -€176 | -8.3% |
| Total equity and liabilities | 10/49 | €653,316 | €559,837 | -€93,479 | -14.3% |
| Equity | 10/15 | €442,145 | €162,395 | -€279,750 | -63.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €421,685 | €141,935 | -€279,750 | -66.3% |
| Amounts payable | 17/49 | €211,172 | €397,442 | +€186,271 | +88.2% |
| Amounts payable within one year | 42/48 | €201,988 | €390,904 | +€188,916 | +93.5% |
| Trade debts | 44 | €296 | €1,295 | +€999 | +338% |
| Suppliers | 440/4 | €296 | €1,295 | +€999 | +338% |
| Taxes, remuneration and social security | 45 | €20,671 | €32,612 | +€11,941 | +57.8% |
| Taxes | 450/3 | €20,671 | €32,612 | +€11,941 | +57.8% |
| Other amounts payable | 47/48 | €181,021 | €356,997 | +€175,976 | +97.2% |
| Accrued charges and deferred income | 492/3 | €9,184 | €6,539 | -€2,645 | -28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,888 | €1,627 | -€262 | -13.8% |
| Other operating charges | 640/8 | €1,184 | €1,218 | +€34 | +2.9% |
| Gross operating margin | 9900 | €63,818 | €7,173 | -€56,645 | -88.8% |
| Operating profit (loss) | 9901 | €60,746 | €4,328 | -€56,418 | -92.9% |
| Financial income | 75/76B | €7,842 | €5,656 | -€2,186 | -27.9% |
| Recurring financial income | 75 | €7,842 | €5,656 | -€2,186 | -27.9% |
| Financial charges | 65/66B | €9,618 | €7,065 | -€2,553 | -26.5% |
| Recurring financial charges | 65 | €9,618 | €7,065 | -€2,553 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €58,970 | €2,919 | -€56,051 | -95.1% |
| Income taxes | 67/77 | €13,901 | €2,669 | -€11,232 | -80.8% |
| Profit (loss) for the period | 9904 | €45,069 | €250 | -€44,819 | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €45,069 | €250 | -€44,819 | -99.4% |
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 22 October 2026 via checked.be.