Topline: 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.
Topline
Largest movements
- Cash +€103,793
up €103,793 (+179.9%), from €57,679 to €161,472
mainly Net result for the year (+€76,533) and Depreciation (+€32,737)
- Tangible fixed assets -€32,737
down €32,737 (-4.1%), from €797,715 to €764,978
of which Land and buildings: -€34,729
- Profit (loss) carried forward +€78,999
no longer reported in 2025 (was -€78,999)
- Financial income +€140,084
up €140,084 (+13787.8%), from €1,016 to €141,100
of which Non-recurring financial income: +€140,090
- Gross operating margin -€45,217
down €45,217, from €33,771 to -€11,446
- Taxes +€5,109
new in 2025: €5,109
- Other operating charges +€1,221
up €1,221 (+110.9%), from €1,101 to €2,322
- Depreciation +€622
up €622 (+1.9%), from €32,115 to €32,737
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 | €856,215 | €926,699 | +€70,484 | +8.2% |
| Fixed assets | 21/28 | €797,715 | €764,978 | -€32,737 | -4.1% |
| Tangible fixed assets | 22/27 | €797,715 | €764,978 | -€32,737 | -4.1% |
| Land and buildings | 22 | €741,858 | €707,129 | -€34,729 | -4.7% |
| Plant, machinery and equipment | 23 | - | €11,302 | +€11,302 | |
| Other tangible fixed assets | 26 | €55,857 | €46,547 | -€9,310 | -16.7% |
| Current assets | 29/58 | €58,500 | €161,721 | +€103,221 | +176.4% |
| Amounts receivable within one year | 40/41 | €249 | €249 | = | 0.0% |
| Other amounts receivable | 41 | €249 | €249 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €57,679 | €161,472 | +€103,793 | +179.9% |
| Deferred charges and accrued income | 490/1 | €572 | - | -€572 | |
| Total equity and liabilities | 10/49 | €856,215 | €926,699 | +€70,484 | +8.2% |
| Equity | 10/15 | €345,684 | €422,217 | +€76,533 | +22.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €406,083 | €403,617 | -€2,466 | -0.6% |
| Non-distributable reserves | 130/1 | €28,680 | €28,680 | = | 0.0% |
| Reserves not available under the articles | 1311 | €28,680 | €28,680 | = | 0.0% |
| Tax-exempt reserves | 132 | €227,621 | €217,274 | -€10,347 | -4.5% |
| Distributable reserves | 133 | €149,782 | €157,663 | +€7,881 | +5.3% |
| Profit (loss) carried forward | 14 | -€78,999 | - | +€78,999 | |
| Provisions and deferred taxes | 16 | €75,873 | €72,425 | -€3,448 | -4.5% |
| Provisions for liabilities and charges | 160/5 | €75,873 | €72,425 | -€3,448 | -4.5% |
| Taxes | 161 | €75,873 | €72,425 | -€3,448 | -4.5% |
| Amounts payable | 17/49 | €434,658 | €432,057 | -€2,601 | -0.6% |
| Amounts payable after more than one year | 17 | €72,377 | €65,932 | -€6,445 | -8.9% |
| Financial debts | 170/4 | €72,377 | €65,932 | -€6,445 | -8.9% |
| Amounts payable within one year | 42/48 | €362,281 | €366,125 | +€3,844 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €6,579 | €6,680 | +€101 | +1.5% |
| Trade debts | 44 | €1,622 | €1,055 | -€567 | -35.0% |
| Suppliers | 440/4 | €1,622 | €1,055 | -€567 | -35.0% |
| Taxes, remuneration and social security | 45 | €9,021 | €13,414 | +€4,393 | +48.7% |
| Taxes | 450/3 | €9,021 | €13,414 | +€4,393 | +48.7% |
| Other amounts payable | 47/48 | €345,059 | €344,976 | -€83 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,115 | €32,737 | +€622 | +1.9% |
| Other operating charges | 640/8 | €1,101 | €2,322 | +€1,221 | +110.9% |
| Gross operating margin | 9900 | €33,771 | -€11,446 | -€45,217 | |
| Operating profit (loss) | 9901 | €555 | -€46,505 | -€47,060 | |
| Financial income | 75/76B | €1,016 | €141,100 | +€140,084 | +13787.8% |
| Recurring financial income | 75 | €12 | €6 | -€6 | -50.0% |
| Non-recurring financial income | 76B | €1,004 | €141,094 | +€140,090 | +13953.2% |
| Financial charges | 65/66B | €16,494 | €16,402 | -€92 | -0.6% |
| Recurring financial charges | 65 | €16,494 | €16,402 | -€92 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | -€14,923 | €78,193 | +€93,116 | |
| Transfer from deferred taxes | 780 | €3,449 | €3,449 | = | 0.0% |
| Income taxes | 67/77 | - | €5,109 | +€5,109 | |
| Profit (loss) for the period | 9904 | -€11,474 | €76,533 | +€88,007 | |
| Transfer from tax-exempt reserves | 789 | €10,346 | €10,347 | +€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,128 | €86,880 | +€88,008 |
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.