TRENDS: 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.
TRENDS
Largest movements
- Cash +€64,917
up €64,917 (+22.8%), from €284,393 to €349,310
mainly Net result for the year (+€33,060) and Depreciation (+€25,803)
- Tangible fixed assets -€25,803
down €25,803 (-20.6%), from €125,250 to €99,447
of which Land and buildings: -€14,255
- Reserves +€33,060
up €33,060 (+12.8%), from €257,786 to €290,846
- Other debts +€5,242
up €5,242 (+41.0%), from €12,800 to €18,042
- Depreciation -€17,247
down €17,247 (-40.1%), from €43,050 to €25,803
- Taxes +€6,179
up €6,179 (+46.2%), from €13,361 to €19,540
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 | €434,087 | €473,729 | +€39,642 | +9.1% |
| Fixed assets | 21/28 | €125,250 | €99,447 | -€25,803 | -20.6% |
| Tangible fixed assets | 22/27 | €125,250 | €99,447 | -€25,803 | -20.6% |
| Land and buildings | 22 | €107,435 | €93,180 | -€14,255 | -13.3% |
| Furniture and vehicles | 24 | €17,815 | €6,267 | -€11,548 | -64.8% |
| Current assets | 29/58 | €308,837 | €374,282 | +€65,445 | +21.2% |
| Amounts receivable within one year | 40/41 | €17,696 | €21,201 | +€3,506 | +19.8% |
| Trade receivables | 40 | €11,057 | €14,103 | +€3,046 | +27.5% |
| Other amounts receivable | 41 | €6,639 | €7,099 | +€460 | +6.9% |
| Cash at bank and in hand | 54/58 | €284,393 | €349,310 | +€64,917 | +22.8% |
| Deferred charges and accrued income | 490/1 | €6,748 | €3,770 | -€2,977 | -44.1% |
| Total equity and liabilities | 10/49 | €434,087 | €473,729 | +€39,642 | +9.1% |
| Equity | 10/15 | €406,815 | €439,875 | +€33,060 | +8.1% |
| Contributions | 10/11 | €145,314 | €145,314 | = | 0.0% |
| Reserves | 13 | €257,786 | €290,846 | +€33,060 | +12.8% |
| Distributable reserves | 133 | €257,786 | €290,846 | +€33,060 | +12.8% |
| Profit (loss) carried forward | 14 | €3,715 | €3,715 | = | 0.0% |
| Amounts payable | 17/49 | €27,272 | €33,854 | +€6,582 | +24.1% |
| Amounts payable within one year | 42/48 | €24,331 | €31,063 | +€6,732 | +27.7% |
| Trade debts | 44 | €1,688 | €2,345 | +€657 | +38.9% |
| Suppliers | 440/4 | €1,688 | €2,345 | +€657 | +38.9% |
| Taxes, remuneration and social security | 45 | €9,843 | €10,676 | +€833 | +8.5% |
| Taxes | 450/3 | €9,143 | €9,676 | +€533 | +5.8% |
| Remuneration and social security | 454/9 | €700 | €1,000 | +€300 | +42.9% |
| Other amounts payable | 47/48 | €12,800 | €18,042 | +€5,242 | +41.0% |
| Accrued charges and deferred income | 492/3 | €2,941 | €2,791 | -€150 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,050 | €25,803 | -€17,247 | -40.1% |
| Other operating charges | 640/8 | €6,700 | €7,047 | +€347 | +5.2% |
| Gross operating margin | 9900 | €84,762 | €85,519 | +€757 | +0.9% |
| Operating profit (loss) | 9901 | €35,012 | €52,669 | +€17,657 | +50.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -90.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -90.7% |
| Financial charges | 65/66B | €107 | €69 | -€38 | -35.8% |
| Recurring financial charges | 65 | €107 | €69 | -€38 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | €34,905 | €52,600 | +€17,695 | +50.7% |
| Income taxes | 67/77 | €13,361 | €19,540 | +€6,179 | +46.2% |
| Profit (loss) for the period | 9904 | €21,544 | €33,060 | +€11,516 | +53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,544 | €33,060 | +€11,516 | +53.5% |
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 7 October 2026 via checked.be.