THINKNEXT: 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.
THINKNEXT
Largest movements
- Cash +€189,625
up €189,625 (+175%), from €108,579 to €298,204
mainly Net result for the year (+€256,059) and Other debts (+€210,000)
- Financial fixed assets +€99,749
up €99,749 (+39,900%), from €250 to €99,999
- Current investments -€93,654
down €93,654 (-15.7%), from €596,559 to €502,906
- Receivables within one year +€28,898
up €28,898 (+24.8%), from €116,574 to €145,472
of which Trade receivables: +€40,294
- Tangible fixed assets -€22,830
down €22,830 (-7.7%), from €295,375 to €272,545
of which Land and buildings: -€17,768
- Profit (loss) carried forward -€923,257
down €923,257 (-100%), from €923,257 to €0
- Reserves +€879,316
up €879,316 (+64,463%), from €1,364 to €880,681
of which Distributable reserves: +€879,316
- Other debts +€210,000
new in 2025: €210,000
- Tax, wage and social debts +€125,728
new in 2025: €125,728
- Trade debts -€51,987
down €51,987 (-92.8%), from €56,048 to €4,061
- Financial income +€65,901
up €65,901 (+1,223%), from €5,387 to €71,288
- Taxes +€27,735
up €27,735 (+903%), from €3,070 to €30,806
- Gross operating margin -€25,651
down €25,651 (-9.3%), from €277,177 to €251,527
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 | €1,120,962 | €1,323,867 | +€202,905 | +18.1% |
| Fixed assets | 21/28 | €295,625 | €372,544 | +€76,919 | +26.0% |
| Tangible fixed assets | 22/27 | €295,375 | €272,545 | -€22,830 | -7.7% |
| Land and buildings | 22 | €278,916 | €261,148 | -€17,768 | -6.4% |
| Plant, machinery and equipment | 23 | €1,764 | €1,330 | -€434 | -24.6% |
| Furniture and vehicles | 24 | €14,694 | €10,067 | -€4,628 | -31.5% |
| Financial fixed assets | 28 | €250 | €99,999 | +€99,749 | +39,900% |
| Current assets | 29/58 | €825,338 | €951,323 | +€125,986 | +15.3% |
| Amounts receivable within one year | 40/41 | €116,574 | €145,472 | +€28,898 | +24.8% |
| Trade receivables | 40 | €42,338 | €82,632 | +€40,294 | +95.2% |
| Other amounts receivable | 41 | €74,236 | €62,840 | -€11,397 | -15.4% |
| Current investments | 50/53 | €596,559 | €502,906 | -€93,654 | -15.7% |
| Cash at bank and in hand | 54/58 | €108,579 | €298,204 | +€189,625 | +175% |
| Deferred charges and accrued income | 490/1 | €3,625 | €4,742 | +€1,117 | +30.8% |
| Total equity and liabilities | 10/49 | €1,120,962 | €1,323,867 | +€202,905 | +18.1% |
| Equity | 10/15 | €929,168 | €885,227 | -€43,941 | -4.7% |
| Contributions | 10/11 | €4,547 | €4,547 | = | 0.0% |
| Reserves | 13 | €1,364 | €880,681 | +€879,316 | +64,463% |
| Non-distributable reserves | 130/1 | €1,364 | €1,364 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,364 | €1,364 | = | 0.0% |
| Distributable reserves | 133 | - | €879,316 | +€879,316 | |
| Profit (loss) carried forward | 14 | €923,257 | €0 | -€923,257 | -100% |
| Amounts payable | 17/49 | €191,794 | €438,640 | +€246,845 | +129% |
| Amounts payable after more than one year | 17 | €95,291 | €60,321 | -€34,970 | -36.7% |
| Financial debts | 170/4 | €95,291 | €60,321 | -€34,970 | -36.7% |
| Amounts payable within one year | 42/48 | €93,076 | €374,894 | +€281,819 | +303% |
| Current portion of amounts payable after more than one year | 42 | €37,027 | €34,970 | -€2,057 | -5.6% |
| Financial debts | 43 | - | €135 | +€135 | |
| Other loans | 439 | - | €135 | +€135 | |
| Trade debts | 44 | €56,048 | €4,061 | -€51,987 | -92.8% |
| Suppliers | 440/4 | €56,048 | €4,061 | -€51,987 | -92.8% |
| Taxes, remuneration and social security | 45 | - | €125,728 | +€125,728 | |
| Taxes | 450/3 | - | €125,728 | +€125,728 | |
| Other amounts payable | 47/48 | - | €210,000 | +€210,000 | |
| Accrued charges and deferred income | 492/3 | €3,428 | €3,425 | -€3 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,787 | €26,077 | +€2,290 | +9.6% |
| Other operating charges | 640/8 | €3,642 | €4,266 | +€624 | +17.1% |
| Non-recurring operating charges | 66A | - | €1,003 | +€1,003 | |
| Gross operating margin | 9900 | €277,177 | €251,527 | -€25,651 | -9.3% |
| Operating profit (loss) | 9901 | €249,749 | €220,181 | -€29,568 | -11.8% |
| Financial income | 75/76B | €5,387 | €71,288 | +€65,901 | +1,223% |
| Recurring financial income | 75 | €5,387 | €71,288 | +€65,901 | +1,223% |
| Financial charges | 65/66B | €6,352 | €4,603 | -€1,749 | -27.5% |
| Recurring financial charges | 65 | €6,352 | €4,603 | -€1,749 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | €248,784 | €286,865 | +€38,082 | +15.3% |
| Income taxes | 67/77 | €3,070 | €30,806 | +€27,735 | +903% |
| Profit (loss) for the period | 9904 | €245,713 | €256,059 | +€10,346 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €245,713 | €256,059 | +€10,346 | +4.2% |
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 20 October 2026 via checked.be.