THINK WISE: 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.
THINK WISE
Largest movements
- Tangible fixed assets -€44,889
down €44,889 (-10.9%), from €412,468 to €367,579
of which Land and buildings: -€44,630
- Current investments -€24,412
down €24,412 (-28.1%), from €86,724 to €62,311
- Cash -€11,391
down €11,391 (-13.7%), from €83,121 to €71,730
mainly Contributions, distributions and other (-€93,000) and Debts after one year (-€6,873)
- Reserves -€71,584
down €71,584 (-16.7%), from €429,861 to €358,276
of which Distributable reserves: -€58,334
- Debts after one year -€6,873
down €6,873 (-6.2%), from €110,973 to €104,100
- Gross operating margin -€3,138
down €3,138 (-3.6%), from €86,893 to €83,755
- Depreciation -€1,131
down €1,131 (-2.5%), from €46,020 to €44,889
- Taxes +€1,110
up €1,110 (+8.6%), from €12,917 to €14,026
- Other operating charges -€1,074
down €1,074 (-25.7%), from €4,180 to €3,106
- Financial income +€873
up €873 (+245.3%), from €356 to €1,229
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 | €603,713 | €517,800 | -€85,914 | -14.2% |
| Fixed assets | 21/28 | €412,468 | €367,579 | -€44,889 | -10.9% |
| Tangible fixed assets | 22/27 | €412,468 | €367,579 | -€44,889 | -10.9% |
| Land and buildings | 22 | €409,959 | €365,329 | -€44,630 | -10.9% |
| Other tangible fixed assets | 26 | €2,508 | €2,249 | -€259 | -10.3% |
| Current assets | 29/58 | €191,246 | €150,221 | -€41,025 | -21.5% |
| Amounts receivable within one year | 40/41 | €18,784 | €13,793 | -€4,992 | -26.6% |
| Trade receivables | 40 | €12,405 | €10,143 | -€2,262 | -18.2% |
| Other amounts receivable | 41 | €6,379 | €3,650 | -€2,729 | -42.8% |
| Current investments | 50/53 | €86,724 | €62,311 | -€24,412 | -28.1% |
| Cash at bank and in hand | 54/58 | €83,121 | €71,730 | -€11,391 | -13.7% |
| Deferred charges and accrued income | 490/1 | €2,617 | €2,387 | -€230 | -8.8% |
| Total equity and liabilities | 10/49 | €603,713 | €517,800 | -€85,914 | -14.2% |
| Equity | 10/15 | €448,461 | €376,876 | -€71,584 | -16.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €429,861 | €358,276 | -€71,584 | -16.7% |
| Tax-exempt reserves | 132 | €61,948 | €48,698 | -€13,250 | -21.4% |
| Distributable reserves | 133 | €367,912 | €309,578 | -€58,334 | -15.9% |
| Provisions and deferred taxes | 16 | €15,487 | €12,174 | -€3,313 | -21.4% |
| Deferred taxes | 168 | €15,487 | €12,174 | -€3,313 | -21.4% |
| Amounts payable | 17/49 | €139,766 | €128,749 | -€11,017 | -7.9% |
| Amounts payable after more than one year | 17 | €110,973 | €104,100 | -€6,873 | -6.2% |
| Financial debts | 170/4 | €110,973 | €104,100 | -€6,873 | -6.2% |
| Amounts payable within one year | 42/48 | €27,296 | €24,414 | -€2,881 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €6,622 | €6,873 | +€251 | +3.8% |
| Trade debts | 44 | €1,139 | €1,774 | +€635 | +55.7% |
| Suppliers | 440/4 | €1,139 | €1,774 | +€635 | +55.7% |
| Taxes, remuneration and social security | 45 | €11,081 | €10,497 | -€584 | -5.3% |
| Taxes | 450/3 | €10,409 | €10,497 | +€88 | +0.8% |
| Remuneration and social security | 454/9 | €672 | - | -€672 | |
| Other amounts payable | 47/48 | €8,454 | €5,270 | -€3,183 | -37.7% |
| Accrued charges and deferred income | 492/3 | €1,497 | €235 | -€1,263 | -84.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,020 | €44,889 | -€1,131 | -2.5% |
| Other operating charges | 640/8 | €4,180 | €3,106 | -€1,074 | -25.7% |
| Gross operating margin | 9900 | €86,893 | €83,755 | -€3,138 | -3.6% |
| Operating profit (loss) | 9901 | €36,693 | €35,759 | -€933 | -2.5% |
| Financial income | 75/76B | €356 | €1,229 | +€873 | +245.3% |
| Recurring financial income | 75 | €356 | €1,229 | +€873 | +245.3% |
| Financial charges | 65/66B | €4,754 | €4,859 | +€105 | +2.2% |
| Recurring financial charges | 65 | €4,754 | €4,859 | +€105 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €32,294 | €32,129 | -€165 | -0.5% |
| Transfer from deferred taxes | 780 | €3,490 | €3,313 | -€177 | -5.1% |
| Income taxes | 67/77 | €12,917 | €14,026 | +€1,110 | +8.6% |
| Profit (loss) for the period | 9904 | €22,868 | €21,416 | -€1,452 | -6.3% |
| Transfer from tax-exempt reserves | 789 | €13,959 | €13,250 | -€709 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,827 | €34,666 | -€2,161 | -5.9% |
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 4 October 2026 via checked.be.