THREE POINTS: 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.
THREE POINTS
Largest movements
- Receivables within one year -€21,948
down €21,948 (-43.1%), from €50,881 to €28,932
of which Trade receivables: -€21,098
- Cash -€4,644
down €4,644 (-2.8%), from €168,153 to €163,508
mainly Contributions, distributions and other (-€62,541) and Tax, wage and social debts (-€7,124)
- Reserves -€20,218
down €20,218 (-6.6%), from €308,059 to €287,841
of which Distributable reserves: -€20,218
- Tax, wage and social debts -€7,124
down €7,124 (-23.4%), from €30,500 to €23,376
of which Taxes: -€10,724
- Gross operating margin -€13,122
down €13,122 (-17.1%), from €76,755 to €63,633
- Financial income -€5,606
down €5,606 (-98.8%), from €5,675 to €69
- Taxes -€1,698
down €1,698 (-7.4%), from €22,964 to €21,265
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 | €424,403 | €398,673 | -€25,730 | -6.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €90 | €90 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €424,313 | €398,583 | -€25,730 | -6.1% |
| Amounts receivable within one year | 40/41 | €50,881 | €28,932 | -€21,948 | -43.1% |
| Trade receivables | 40 | €29,948 | €8,850 | -€21,098 | -70.4% |
| Other amounts receivable | 41 | €20,933 | €20,082 | -€851 | -4.1% |
| Current investments | 50/53 | €205,280 | €205,280 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €168,153 | €163,508 | -€4,644 | -2.8% |
| Deferred charges and accrued income | 490/1 | €0 | €863 | +€863 | |
| Total equity and liabilities | 10/49 | €424,403 | €398,673 | -€25,730 | -6.1% |
| Equity | 10/15 | €329,936 | €309,718 | -€20,218 | -6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €308,059 | €287,841 | -€20,218 | -6.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €306,199 | €285,981 | -€20,218 | -6.6% |
| Profit (loss) carried forward | 14 | €3,277 | €3,277 | = | 0.0% |
| Amounts payable | 17/49 | €94,467 | €88,956 | -€5,512 | -5.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €94,467 | €88,927 | -€5,540 | -5.9% |
| Trade debts | 44 | €778 | €206 | -€572 | -73.5% |
| Suppliers | 440/4 | €778 | €206 | -€572 | -73.5% |
| Taxes, remuneration and social security | 45 | €30,500 | €23,376 | -€7,124 | -23.4% |
| Taxes | 450/3 | €23,300 | €12,576 | -€10,724 | -46.0% |
| Remuneration and social security | 454/9 | €7,200 | €10,800 | +€3,600 | +50.0% |
| Other amounts payable | 47/48 | €63,189 | €65,345 | +€2,156 | +3.4% |
| Accrued charges and deferred income | 492/3 | - | €28 | +€28 | |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €261 | €0 | -€261 | -100.0% |
| Other operating charges | 640/8 | - | €18 | +€18 | |
| Gross operating margin | 9900 | €76,755 | €63,633 | -€13,122 | -17.1% |
| Operating profit (loss) | 9901 | €76,494 | €63,615 | -€12,879 | -16.8% |
| Financial income | 75/76B | €5,675 | €69 | -€5,606 | -98.8% |
| Recurring financial income | 75 | €5,675 | €69 | -€5,606 | -98.8% |
| Financial charges | 65/66B | €243 | €96 | -€147 | -60.4% |
| Recurring financial charges | 65 | €243 | €96 | -€147 | -60.4% |
| Profit (loss) for the period before taxes | 9903 | €81,926 | €63,588 | -€18,338 | -22.4% |
| Income taxes | 67/77 | €22,964 | €21,265 | -€1,698 | -7.4% |
| Profit (loss) for the period | 9904 | €58,962 | €42,323 | -€16,640 | -28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,962 | €42,323 | -€16,640 | -28.2% |
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 11 October 2026 via checked.be.