TWENTY-FOUR: 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.
TWENTY-FOUR
Largest movements
- Current investments +€50,267
new in 2025: €50,267
- Cash -€19,166
down €19,166 (-40.6%), from €47,205 to €28,039
mainly Current investments (-€50,267) and Debts after one year (-€3,049)
- Tangible fixed assets -€11,191
down €11,191 (-7.9%), from €141,755 to €130,563
- Reserves +€18,185
up €18,185 (+25.2%), from €72,103 to €90,288
of which Distributable reserves: +€18,185
- Other debts +€3,718
up €3,718 (+27.6%), from €13,465 to €17,183
- Debts after one year -€3,049
down €3,049 (-100.0%), from €3,049 to €0
- Trade debts +€2,284
up €2,284 (+525.6%), from €435 to €2,718
- Gross operating margin +€9,209
up €9,209 (+26.3%), from €34,979 to €44,188
- Taxes +€3,267
up €3,267 (+62.6%), from €5,220 to €8,487
- Financial charges +€1,413
up €1,413 (+146.3%), from €965 to €2,378
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 | €189,484 | €209,702 | +€20,218 | +10.7% |
| Fixed assets | 21/28 | €141,780 | €130,563 | -€11,216 | -7.9% |
| Tangible fixed assets | 22/27 | €141,755 | €130,563 | -€11,191 | -7.9% |
| Land and buildings | 22 | €141,755 | €130,563 | -€11,191 | -7.9% |
| Financial fixed assets | 28 | €25 | €0 | -€25 | -100.0% |
| Current assets | 29/58 | €47,704 | €79,138 | +€31,434 | +65.9% |
| Amounts receivable within one year | 40/41 | €499 | €832 | +€333 | +66.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €499 | €832 | +€333 | +66.8% |
| Current investments | 50/53 | - | €50,267 | +€50,267 | |
| Cash at bank and in hand | 54/58 | €47,205 | €28,039 | -€19,166 | -40.6% |
| Total equity and liabilities | 10/49 | €189,484 | €209,702 | +€20,218 | +10.7% |
| Equity | 10/15 | €169,603 | €187,788 | +€18,185 | +10.7% |
| Contributions | 10/11 | €97,500 | €97,500 | = | 0.0% |
| Capital | 10 | €97,500 | €97,500 | = | 0.0% |
| Issued capital | 100 | €97,500 | €97,500 | = | 0.0% |
| Reserves | 13 | €72,103 | €90,288 | +€18,185 | +25.2% |
| Non-distributable reserves | 130/1 | €9,750 | €9,750 | = | 0.0% |
| Legal reserve | 130 | €9,750 | €9,750 | = | 0.0% |
| Distributable reserves | 133 | €62,353 | €80,538 | +€18,185 | +29.2% |
| Amounts payable | 17/49 | €19,880 | €21,913 | +€2,033 | +10.2% |
| Amounts payable after more than one year | 17 | €3,049 | €0 | -€3,049 | -100.0% |
| Financial debts | 170/4 | €3,049 | €0 | -€3,049 | -100.0% |
| Amounts payable within one year | 42/48 | €16,831 | €21,913 | +€5,082 | +30.2% |
| Trade debts | 44 | €435 | €2,718 | +€2,284 | +525.6% |
| Suppliers | 440/4 | €435 | €2,718 | +€2,284 | +525.6% |
| Taxes, remuneration and social security | 45 | €2,932 | €2,012 | -€920 | -31.4% |
| Taxes | 450/3 | €2,932 | €2,012 | -€920 | -31.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €13,465 | €17,183 | +€3,718 | +27.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,191 | €11,191 | = | 0.0% |
| Other operating charges | 640/8 | €3,827 | €3,947 | +€120 | +3.1% |
| Gross operating margin | 9900 | €34,979 | €44,188 | +€9,209 | +26.3% |
| Operating profit (loss) | 9901 | €19,960 | €29,050 | +€9,090 | +45.5% |
| Financial charges | 65/66B | €965 | €2,378 | +€1,413 | +146.3% |
| Recurring financial charges | 65 | €965 | €2,378 | +€1,413 | +146.3% |
| Profit (loss) for the period before taxes | 9903 | €18,995 | €26,672 | +€7,677 | +40.4% |
| Income taxes | 67/77 | €5,220 | €8,487 | +€3,267 | +62.6% |
| Profit (loss) for the period | 9904 | €13,775 | €18,185 | +€4,410 | +32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,775 | €18,185 | +€4,410 | +32.0% |
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 6 October 2026 via checked.be.