Tsedek: 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.
Tsedek
Largest movements
- Cash +€258,329
up €258,329 (+33.1%), from €781,435 to €1.0m
mainly Receivables within one year (+€128,792) and Net result for the year (+€98,768)
- Receivables within one year -€128,792
down €128,792 (-60.5%), from €213,006 to €84,214
of which Trade receivables: -€130,479
- Tangible fixed assets -€55,982
down €55,982 (-3.1%), from €1.8m to €1.7m
of which Land and buildings: -€51,522
- Reserves +€98,768
up €98,768 (+9.9%), from €993,801 to €1.1m
- Debts after one year -€55,776
down €55,776 (-6.0%), from €933,680 to €877,904
- Debts within one year +€36,290
up €36,290 (+17.2%), from €211,453 to €247,743
of which Trade debts: +€20,359
- Turnover +€39,415
up €39,415 (+2.7%), from €1.5m to €1.5m
- Services and other goods +€38,833
up €38,833 (+24.0%), from €161,874 to €200,707
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 | €2,783,798 | €2,863,080 | +€79,282 | +2.8% |
| Fixed assets | 21/28 | €1,779,681 | €1,726,973 | -€52,708 | -3.0% |
| Intangible fixed assets | 21 | - | €3,273 | +€3,273 | |
| Tangible fixed assets | 22/27 | €1,779,681 | €1,723,700 | -€55,982 | -3.1% |
| Land and buildings | 22 | €1,768,018 | €1,716,496 | -€51,522 | -2.9% |
| Plant, machinery and equipment | 23 | €1,894 | €670 | -€1,224 | -64.6% |
| Furniture and vehicles | 24 | €9,770 | €6,534 | -€3,236 | -33.1% |
| Current assets | 29/58 | €1,004,116 | €1,136,107 | +€131,990 | +13.1% |
| Amounts receivable within one year | 40/41 | €213,006 | €84,214 | -€128,792 | -60.5% |
| Trade receivables | 40 | €199,016 | €68,537 | -€130,479 | -65.6% |
| Other amounts receivable | 41 | €13,990 | €15,677 | +€1,687 | +12.1% |
| Cash at bank and in hand | 54/58 | €781,435 | €1,039,765 | +€258,329 | +33.1% |
| Deferred charges and accrued income | 490/1 | €9,675 | €12,128 | +€2,453 | +25.4% |
| Total equity and liabilities | 10/49 | €2,783,798 | €2,863,080 | +€79,282 | +2.8% |
| Equity | 10/15 | €1,638,664 | €1,737,432 | +€98,768 | +6.0% |
| Contributions | 10/11 | €512,799 | €512,799 | = | 0.0% |
| Capital | 10 | €512,799 | €512,799 | = | 0.0% |
| Reserves | 13 | €993,801 | €1,092,569 | +€98,768 | +9.9% |
| Profit (loss) carried forward | 14 | €132,064 | €132,064 | = | 0.0% |
| Amounts payable | 17/49 | €1,145,133 | €1,125,647 | -€19,486 | -1.7% |
| Amounts payable after more than one year | 17 | €933,680 | €877,904 | -€55,776 | -6.0% |
| Financial debts | 170/4 | €933,680 | €877,904 | -€55,776 | -6.0% |
| Other loans | 174 | €933,680 | €877,904 | -€55,776 | -6.0% |
| Amounts payable within one year | 42/48 | €211,453 | €247,743 | +€36,290 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €54,915 | €55,776 | +€861 | +1.6% |
| Trade debts | 44 | €8,110 | €28,468 | +€20,359 | +251.0% |
| Suppliers | 440/4 | €8,110 | €28,468 | +€20,359 | +251.0% |
| Taxes, remuneration and social security | 45 | €148,428 | €161,567 | +€13,139 | +8.9% |
| Taxes | 450/3 | €7,239 | €15,179 | +€7,941 | +109.7% |
| Remuneration and social security | 454/9 | €141,190 | €146,388 | +€5,198 | +3.7% |
| Operating income | 70/76A | €1,642,994 | €1,690,994 | +€48,001 | +2.9% |
| Turnover | 70 | €1,452,222 | €1,491,637 | +€39,415 | +2.7% |
| Membership fees, donations, legacies and grants | 73 | €156,490 | €175,984 | +€19,493 | +12.5% |
| Other operating income | 74 | €12,296 | €17,261 | +€4,965 | +40.4% |
| Non-recurring operating income | 76A | €21,986 | €6,113 | -€15,873 | -72.2% |
| Operating charges | 60/66A | €1,525,486 | €1,584,652 | +€59,165 | +3.9% |
| Goods for resale, raw materials and consumables | 60 | €43,447 | €51,999 | +€8,552 | +19.7% |
| Purchases | 600/8 | €43,447 | €51,999 | +€8,552 | +19.7% |
| Services and other goods | 61 | €161,874 | €200,707 | +€38,833 | +24.0% |
| Remuneration, social security and pensions | 62 | €1,234,414 | €1,249,314 | +€14,901 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,475 | €65,858 | -€617 | -0.9% |
| Other operating charges | 640/8 | €19,276 | €16,773 | -€2,503 | -13.0% |
| Operating profit (loss) | 9901 | €117,507 | €106,343 | -€11,165 | -9.5% |
| Financial income | 75/76B | €4,581 | €7,443 | +€2,862 | +62.5% |
| Recurring financial income | 75 | €4,581 | €7,443 | +€2,862 | +62.5% |
| Income from current assets | 751 | €4,581 | €7,440 | +€2,859 | +62.4% |
| Other financial income | 752/9 | - | €2 | +€2 | |
| Financial charges | 65/66B | €15,852 | €15,018 | -€835 | -5.3% |
| Recurring financial charges | 65 | €15,852 | €15,018 | -€835 | -5.3% |
| Debt charges | 650 | €15,667 | €14,829 | -€839 | -5.4% |
| Other financial charges | 652/9 | €185 | €189 | +€4 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €106,236 | €98,768 | -€7,469 | -7.0% |
| Profit (loss) for the period | 9904 | €106,236 | €98,768 | -€7,469 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €106,236 | €98,768 | -€7,469 | -7.0% |
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 10 October 2026 via checked.be.