V2.0: 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.
V2.0
Largest movements
- Receivables within one year +€31,566
up €31,566 (+48.3%), from €65,299 to €96,866
of which Trade receivables: +€31,566
- Tangible fixed assets -€21,186
down €21,186 (-5.8%), from €363,650 to €342,465
of which Land and buildings: -€18,276
- Cash -€6,934
down €6,934 (-23.2%), from €29,870 to €22,936
mainly Contributions, distributions and other (-€122,552) and Receivables within one year (-€31,566)
- Other debts +€120,848
up €120,848 (+402.8%), from €30,003 to €150,851
- Reserves -€112,352
down €112,352 (-29.8%), from €376,629 to €264,277
of which Distributable reserves: -€106,509
- Debts after one year -€13,004
down €13,004 (-12.0%), from €107,939 to €94,935
- Tax, wage and social debts +€12,949
up €12,949 (+81.7%), from €15,854 to €28,803
- Trade debts -€5,703
down €5,703 (-94.5%), from €6,032 to €329
- Gross operating margin -€27,334
down €27,334 (-38.9%), from €70,253 to €42,919
- Taxes -€3,815
down €3,815 (-25.8%), from €14,778 to €10,963
- Financial income +€914
up €914 (+34.3%), from €2,666 to €3,580
- Depreciation -€838
down €838 (-3.8%), from €22,023 to €21,186
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 | €495,050 | €499,778 | +€4,727 | +1.0% |
| Fixed assets | 21/28 | €395,150 | €373,965 | -€21,186 | -5.4% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €363,650 | €342,465 | -€21,186 | -5.8% |
| Land and buildings | 22 | €257,206 | €238,930 | -€18,276 | -7.1% |
| Plant, machinery and equipment | 23 | €460 | €152 | -€308 | -67.0% |
| Furniture and vehicles | 24 | €7,129 | €4,528 | -€2,601 | -36.5% |
| Other tangible fixed assets | 26 | €98,855 | €98,855 | = | 0.0% |
| Financial fixed assets | 28 | €31,500 | €31,500 | = | 0.0% |
| Current assets | 29/58 | €99,900 | €125,813 | +€25,913 | +25.9% |
| Amounts receivable within one year | 40/41 | €65,299 | €96,866 | +€31,566 | +48.3% |
| Trade receivables | 40 | €2,949 | €34,516 | +€31,566 | +1070.3% |
| Other amounts receivable | 41 | €62,350 | €62,350 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €29,870 | €22,936 | -€6,934 | -23.2% |
| Deferred charges and accrued income | 490/1 | €4,730 | €6,011 | +€1,281 | +27.1% |
| Total equity and liabilities | 10/49 | €495,050 | €499,778 | +€4,727 | +1.0% |
| Equity | 10/15 | €296,236 | €183,883 | -€112,352 | -37.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €376,629 | €264,277 | -€112,352 | -29.8% |
| Tax-exempt reserves | 132 | €78,145 | €72,302 | -€5,843 | -7.5% |
| Distributable reserves | 133 | €298,483 | €191,974 | -€106,509 | -35.7% |
| Profit (loss) carried forward | 14 | -€86,593 | -€86,593 | = | 0.0% |
| Provisions and deferred taxes | 16 | €26,048 | €24,101 | -€1,948 | -7.5% |
| Deferred taxes | 168 | €26,048 | €24,101 | -€1,948 | -7.5% |
| Amounts payable | 17/49 | €172,766 | €291,794 | +€119,027 | +68.9% |
| Amounts payable after more than one year | 17 | €107,939 | €94,935 | -€13,004 | -12.0% |
| Financial debts | 170/4 | €107,939 | €94,935 | -€13,004 | -12.0% |
| Amounts payable within one year | 42/48 | €64,677 | €195,332 | +€130,655 | +202.0% |
| Current portion of amounts payable after more than one year | 42 | €12,789 | €15,349 | +€2,561 | +20.0% |
| Trade debts | 44 | €6,032 | €329 | -€5,703 | -94.5% |
| Suppliers | 440/4 | €6,032 | €329 | -€5,703 | -94.5% |
| Taxes, remuneration and social security | 45 | €15,854 | €28,803 | +€12,949 | +81.7% |
| Taxes | 450/3 | €15,854 | €28,803 | +€12,949 | +81.7% |
| Other amounts payable | 47/48 | €30,003 | €150,851 | +€120,848 | +402.8% |
| Accrued charges and deferred income | 492/3 | €150 | €1,527 | +€1,376 | +914.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,023 | €21,186 | -€838 | -3.8% |
| Other operating charges | 640/8 | €1,925 | €2,162 | +€237 | +12.3% |
| Non-recurring operating charges | 66A | €318 | €0 | -€318 | -100.0% |
| Gross operating margin | 9900 | €70,253 | €42,919 | -€27,334 | -38.9% |
| Operating profit (loss) | 9901 | €45,986 | €19,572 | -€26,415 | -57.4% |
| Financial income | 75/76B | €2,666 | €3,580 | +€914 | +34.3% |
| Recurring financial income | 75 | €2,666 | €3,580 | +€914 | +34.3% |
| Financial charges | 65/66B | €3,264 | €3,937 | +€673 | +20.6% |
| Recurring financial charges | 65 | €3,264 | €3,937 | +€673 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | €45,388 | €19,215 | -€26,173 | -57.7% |
| Transfer from deferred taxes | 780 | €1,948 | €1,948 | = | 0.0% |
| Income taxes | 67/77 | €14,778 | €10,963 | -€3,815 | -25.8% |
| Profit (loss) for the period | 9904 | €32,558 | €10,199 | -€22,359 | -68.7% |
| Transfer from tax-exempt reserves | 789 | €5,843 | €5,843 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,401 | €16,043 | -€22,359 | -58.2% |
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 11 October 2026 via checked.be.