Transkript: 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.
Transkript
Largest movements
- Cash +€524,750
up €524,750 (+166%), from €316,437 to €841,187
mainly Receivables within one year (+€226,275) and Current investments (+€162,655)
- Receivables within one year -€226,275
down €226,275 (-52.1%), from €434,656 to €208,381
of which Other amounts receivable: -€246,200
- Current investments -€162,655
down €162,655 (-9.6%), from €1.7m to €1.5m
- Provisions +€141,416
up €141,416 (+241%), from €58,584 to €200,000
- Tax, wage and social debts -€34,865
down €34,865 (-14.2%), from €245,631 to €210,766
of which Remuneration and social security: -€46,654
- Financial income +€126,971
up €126,971 (+1,266%), from €10,028 to €136,999
- Gross operating margin -€101,490
down €101,490 (-4.9%), from €2.1m to €2.0m
- Staff costs -€45,426
down €45,426 (-2.4%), from €1.9m to €1.9m
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 | €2,894,522 | €3,004,214 | +€109,692 | +3.8% |
| Fixed assets | 21/28 | €425,612 | €401,821 | -€23,791 | -5.6% |
| Tangible fixed assets | 22/27 | €424,565 | €399,624 | -€24,941 | -5.9% |
| Land and buildings | 22 | €362,746 | €346,542 | -€16,204 | -4.5% |
| Plant, machinery and equipment | 23 | €50,659 | €44,633 | -€6,026 | -11.9% |
| Furniture and vehicles | 24 | €10,158 | €7,949 | -€2,209 | -21.7% |
| Other tangible fixed assets | 26 | €1,002 | €501 | -€501 | -50.0% |
| Financial fixed assets | 28 | €1,047 | €2,197 | +€1,150 | +110% |
| Current assets | 29/58 | €2,468,910 | €2,602,393 | +€133,483 | +5.4% |
| Stocks and contracts in progress | 3 | €15,234 | €13,348 | -€1,886 | -12.4% |
| Stocks | 30/36 | €15,234 | €13,348 | -€1,886 | -12.4% |
| Amounts receivable within one year | 40/41 | €434,656 | €208,381 | -€226,275 | -52.1% |
| Trade receivables | 40 | €8,431 | €28,356 | +€19,925 | +236% |
| Other amounts receivable | 41 | €426,225 | €180,025 | -€246,200 | -57.8% |
| Current investments | 50/53 | €1,686,005 | €1,523,350 | -€162,655 | -9.6% |
| Cash at bank and in hand | 54/58 | €316,437 | €841,187 | +€524,750 | +166% |
| Deferred charges and accrued income | 490/1 | €16,578 | €16,126 | -€452 | -2.7% |
| Total equity and liabilities | 10/49 | €2,894,522 | €3,004,214 | +€109,692 | +3.8% |
| Equity | 10/15 | €2,557,261 | €2,572,452 | +€15,191 | +0.6% |
| Contributions | 10/11 | €356,859 | €356,859 | -€0 | 0.0% |
| Capital | 10 | €356,859 | €356,859 | -€0 | 0.0% |
| Reserves | 13 | €833,000 | €833,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,362,202 | €1,378,693 | +€16,491 | +1.2% |
| Investment grants | 15 | €5,200 | €3,900 | -€1,300 | -25.0% |
| Provisions and deferred taxes | 16 | €58,584 | €200,000 | +€141,416 | +241% |
| Provisions for liabilities and charges | 160/5 | €58,584 | €200,000 | +€141,416 | +241% |
| Other liabilities and charges | 164/5 | €58,584 | €200,000 | +€141,416 | +241% |
| Amounts payable | 17/49 | €278,677 | €231,762 | -€46,915 | -16.8% |
| Amounts payable within one year | 42/48 | €278,677 | €231,762 | -€46,915 | -16.8% |
| Trade debts | 44 | €33,046 | €20,996 | -€12,050 | -36.5% |
| Suppliers | 440/4 | €33,046 | €20,996 | -€12,050 | -36.5% |
| Taxes, remuneration and social security | 45 | €245,631 | €210,766 | -€34,865 | -14.2% |
| Taxes | 450/3 | €18,211 | €30,000 | +€11,789 | +64.7% |
| Remuneration and social security | 454/9 | €227,420 | €180,766 | -€46,654 | -20.5% |
| Remuneration, social security and pensions | 62 | €1,918,531 | €1,873,105 | -€45,426 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,013 | €32,159 | -€5,854 | -15.4% |
| Other operating charges | 640/8 | €38,338 | €50,383 | +€12,045 | +31.4% |
| Non-recurring operating charges | 66A | €2,842 | €129 | -€2,713 | -95.5% |
| Gross operating margin | 9900 | €2,079,410 | €1,977,920 | -€101,490 | -4.9% |
| Operating profit (loss) | 9901 | €105,814 | -€119,271 | -€225,085 | |
| Financial income | 75/76B | €10,028 | €136,999 | +€126,971 | +1,266% |
| Recurring financial income | 75 | €10,028 | €136,999 | +€126,971 | +1,266% |
| Financial charges | 65/66B | €349 | €362 | +€13 | +3.6% |
| Recurring financial charges | 65 | €349 | €362 | +€13 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €115,493 | €17,367 | -€98,126 | -85.0% |
| Income taxes | 67/77 | €590 | €875 | +€285 | +48.3% |
| Profit (loss) for the period | 9904 | €114,903 | €16,492 | -€98,411 | -85.6% |
| Profit (loss) for the period to be appropriated | 9905 | €114,903 | €16,492 | -€98,411 | -85.6% |
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 14 October 2026 via checked.be.