UPSTREAM DATA: 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.
UPSTREAM DATA
Largest movements
- Cash +€12,570
up €12,570 (+5.3%), from €236,143 to €248,713
mainly Net result for the year (+€30,600) and Depreciation (+€2,604)
- Receivables within one year +€5,277
up €5,277 (+23.6%), from €22,354 to €27,631
of which Other amounts receivable: +€4,466
- Reserves +€15,630
up €15,630 (+12.4%), from €126,230 to €141,860
of which Distributable reserves: +€15,630
- Gross operating margin -€29,893
down €29,893 (-39.4%), from €75,779 to €45,886
- Taxes -€8,802
down €8,802 (-43.2%), from €20,384 to €11,581
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 | €264,932 | €281,699 | +€16,766 | +6.3% |
| Fixed assets | 21/28 | €6,004 | €5,355 | -€649 | -10.8% |
| Tangible fixed assets | 22/27 | €6,004 | €5,355 | -€649 | -10.8% |
| Furniture and vehicles | 24 | €4,239 | €4,129 | -€109 | -2.6% |
| Other tangible fixed assets | 26 | €1,765 | €1,225 | -€539 | -30.6% |
| Current assets | 29/58 | €258,929 | €276,344 | +€17,415 | +6.7% |
| Amounts receivable within one year | 40/41 | €22,354 | €27,631 | +€5,277 | +23.6% |
| Trade receivables | 40 | €6,600 | €7,411 | +€811 | +12.3% |
| Other amounts receivable | 41 | €15,754 | €20,221 | +€4,466 | +28.3% |
| Cash at bank and in hand | 54/58 | €236,143 | €248,713 | +€12,570 | +5.3% |
| Deferred charges and accrued income | 490/1 | €431 | - | -€431 | |
| Total equity and liabilities | 10/49 | €264,932 | €281,699 | +€16,766 | +6.3% |
| Equity | 10/15 | €261,841 | €278,071 | +€16,230 | +6.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €126,230 | €141,860 | +€15,630 | +12.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €124,370 | €140,000 | +€15,630 | +12.6% |
| Profit (loss) carried forward | 14 | €117,011 | €117,611 | +€600 | +0.5% |
| Amounts payable | 17/49 | €3,091 | €3,627 | +€536 | +17.3% |
| Amounts payable within one year | 42/48 | €3,091 | €3,627 | +€536 | +17.3% |
| Trade debts | 44 | €91 | €49 | -€42 | -46.4% |
| Suppliers | 440/4 | €91 | €49 | -€42 | -46.4% |
| Taxes, remuneration and social security | 45 | €3,000 | €3,578 | +€578 | +19.3% |
| Taxes | 450/3 | €3,000 | €3,578 | +€578 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,400 | €2,604 | +€204 | +8.5% |
| Other operating charges | 640/8 | €865 | €827 | -€38 | -4.4% |
| Gross operating margin | 9900 | €75,779 | €45,886 | -€29,893 | -39.4% |
| Operating profit (loss) | 9901 | €72,513 | €42,454 | -€30,059 | -41.5% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €297 | €274 | -€23 | -7.8% |
| Recurring financial charges | 65 | €297 | €274 | -€23 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €72,216 | €42,182 | -€30,034 | -41.6% |
| Income taxes | 67/77 | €20,384 | €11,581 | -€8,802 | -43.2% |
| Profit (loss) for the period | 9904 | €51,832 | €30,600 | -€21,232 | -41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,832 | €30,600 | -€21,232 | -41.0% |
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 19 October 2026 via checked.be.