TOP ASSETS: 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.
TOP ASSETS
Largest movements
- Current investments -€518,762
down €518,762 (-76.2%), from €680,981 to €162,219
- Tangible fixed assets +€446,117
up €446,117 (+4022.6%), from €11,090 to €457,207
of which Land and buildings: +€235,000
- Cash +€37,125
up €37,125 (+38.7%), from €95,814 to €132,940
mainly Current investments (+€518,762) and Other debts (+€142,886)
- Receivables within one year +€24,246
up €24,246 (+75.6%), from €32,081 to €56,327
of which Other amounts receivable: +€23,015
- Intangible fixed assets -€14,750
down €14,750 (-53.4%), from €27,633 to €12,883
- Other debts +€142,886
up €142,886 (+672.2%), from €21,258 to €164,144
- Reserves -€100,824
down €100,824 (-18.4%), from €548,339 to €447,515
of which Distributable reserves: -€100,824
- Tax, wage and social debts -€62,769
down €62,769 (-91.1%), from €68,937 to €6,167
of which Taxes: -€61,034
- Trade debts -€46,489
down €46,489 (-99.6%), from €46,672 to €183
- Profit (loss) carried forward +€42,119
up €42,119 (+30.7%), from €137,395 to €179,513
- Gross operating margin -€141,914
down €141,914 (-68.8%), from €206,275 to €64,361
- Taxes -€31,153
down €31,153 (-65.7%), from €47,396 to €16,243
- Depreciation +€30,316
up €30,316 (+155.8%), from €19,460 to €49,776
- Staff costs -€27,276
no longer reported in 2025 (was €27,276)
- Financial income +€15,677
up €15,677 (+50.7%), from €30,894 to €46,571
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 | €872,600 | €847,523 | -€25,078 | -2.9% |
| Fixed assets | 21/28 | €38,724 | €470,091 | +€431,367 | +1114.0% |
| Intangible fixed assets | 21 | €27,633 | €12,883 | -€14,750 | -53.4% |
| Tangible fixed assets | 22/27 | €11,090 | €457,207 | +€446,117 | +4022.6% |
| Land and buildings | 22 | - | €235,000 | +€235,000 | |
| Plant, machinery and equipment | 23 | - | €216,484 | +€216,484 | |
| Furniture and vehicles | 24 | €9,415 | €4,944 | -€4,471 | -47.5% |
| Other tangible fixed assets | 26 | €1,676 | €780 | -€895 | -53.4% |
| Current assets | 29/58 | €833,877 | €377,432 | -€456,445 | -54.7% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Trade receivables | 290 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €32,081 | €56,327 | +€24,246 | +75.6% |
| Trade receivables | 40 | €19,241 | €20,472 | +€1,231 | +6.4% |
| Other amounts receivable | 41 | €12,840 | €35,855 | +€23,015 | +179.2% |
| Current investments | 50/53 | €680,981 | €162,219 | -€518,762 | -76.2% |
| Cash at bank and in hand | 54/58 | €95,814 | €132,940 | +€37,125 | +38.7% |
| Deferred charges and accrued income | 490/1 | - | €946 | +€946 | |
| Total equity and liabilities | 10/49 | €872,600 | €847,523 | -€25,078 | -2.9% |
| Equity | 10/15 | €735,734 | €677,029 | -€58,705 | -8.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €548,339 | €447,515 | -€100,824 | -18.4% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €543,339 | €442,515 | -€100,824 | -18.6% |
| Profit (loss) carried forward | 14 | €137,395 | €179,513 | +€42,119 | +30.7% |
| Amounts payable | 17/49 | €136,866 | €170,494 | +€33,628 | +24.6% |
| Amounts payable within one year | 42/48 | €136,866 | €170,494 | +€33,628 | +24.6% |
| Trade debts | 44 | €46,672 | €183 | -€46,489 | -99.6% |
| Suppliers | 440/4 | €46,672 | €183 | -€46,489 | -99.6% |
| Taxes, remuneration and social security | 45 | €68,937 | €6,167 | -€62,769 | -91.1% |
| Taxes | 450/3 | €67,201 | €6,167 | -€61,034 | -90.8% |
| Remuneration and social security | 454/9 | €1,736 | - | -€1,736 | |
| Other amounts payable | 47/48 | €21,258 | €164,144 | +€142,886 | +672.2% |
| Remuneration, social security and pensions | 62 | €27,276 | - | -€27,276 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,460 | €49,776 | +€30,316 | +155.8% |
| Other operating charges | 640/8 | €439 | €1,754 | +€1,315 | +299.6% |
| Gross operating margin | 9900 | €206,275 | €64,361 | -€141,914 | -68.8% |
| Operating profit (loss) | 9901 | €159,099 | €12,830 | -€146,269 | -91.9% |
| Financial income | 75/76B | €30,894 | €46,571 | +€15,677 | +50.7% |
| Recurring financial income | 75 | €30,894 | €46,571 | +€15,677 | +50.7% |
| Financial charges | 65/66B | €5,203 | €1,039 | -€4,164 | -80.0% |
| Recurring financial charges | 65 | €5,203 | €1,039 | -€4,164 | -80.0% |
| Profit (loss) for the period before taxes | 9903 | €184,791 | €58,362 | -€126,428 | -68.4% |
| Income taxes | 67/77 | €47,396 | €16,243 | -€31,153 | -65.7% |
| Profit (loss) for the period | 9904 | €137,395 | €42,119 | -€95,276 | -69.3% |
| Profit (loss) for the period to be appropriated | 9905 | €137,395 | €42,119 | -€95,276 | -69.3% |
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 9 October 2026 via checked.be.