VERWONDERING: 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.
What changed
VERWONDERING
NACE 85.314, Education
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€282,742
2024 · €400,290-€117,548
Equity
€10.2m
2024 · €10.1m+€181,570
Cash
€4.2m
2024 · €3.5m+€693,457
Balance sheet total
€12.9m
2024 · €12.6m+€337,045
Largest movements
Assets
- Cash +€693,457
up €693,457 (+20.0%), from €3.5m to €4.2m
mainly Depreciation (+€503,820) and Net result for the year (+€282,742)
- Tangible fixed assets -€365,984
down €365,984 (-5.3%), from €6.9m to €6.6m
Equity and liabilities
- Reserves +€2.5m
new in 2025: €2.5m
- Profit (loss) carried forward -€2.3m
down €2.3m (-99.6%), from €2.3m to €8,086
Income statement
- Staff costs +€361,585
up €361,585 (+3.6%), from €10.1m to €10.4m
- Write-downs -€105,891
down €105,891, from €24,620 to -€81,272
- Other operating charges +€95,814
up €95,814 (+341%), from €28,103 to €123,916
- Turnover -€47,266
down €47,266 (-12.4%), from €380,025 to €332,759
- Depreciation -€33,519
down €33,519 (-6.2%), from €537,339 to €503,820
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.
Result 2024
€400,290
Turnover
-€47,266
Other operating income
-€13,951
Goods and materials
+€28,071
Services and other goods
-€31,182
Staff costs
-€361,585
Depreciation
+€33,519
Write-downs
+€105,891
Other operating charges
-€95,814
Other operating items
+€298,475
Financial income
-€2,277
Financial charges
-€31,430
Result 2025
€282,742
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€867,907
Investment
-€133,389
Financing
-€41,061
Cash 2024
€3.5m
From operations (derived)
+€867,907
Net result for the year
+€282,742
Depreciation
+€503,820
Stocks and contracts
+€1,501
Receivables within one year
-€30,827
Deferred charges and accrued income
+€15,306
Debts within one year
-€20,899
Accrued charges and deferred income
+€116,263
Investment (derived)
-€133,389
Investment in fixed assets (net)
-€133,389
Financing
-€41,061
Debts after one year
+€60,111
Contributions, distributions and other
-€101,172
Cash 2025
€4.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,569,376 | €12,906,421 | +€337,045 | +2.7% |
| Fixed assets | 21/28 | €6,924,549 | €6,554,118 | -€370,431 | -5.3% |
| Intangible fixed assets | 21 | €4,447 | - | -€4,447 | |
| Tangible fixed assets | 22/27 | €6,920,102 | €6,554,118 | -€365,984 | -5.3% |
| Land and buildings | 22 | €3,619,500 | €3,461,527 | -€157,974 | -4.4% |
| Plant, machinery and equipment | 23 | €200,222 | €115,352 | -€84,870 | -42.4% |
| Furniture and vehicles | 24 | €43,839 | €30,686 | -€13,153 | -30.0% |
| Leasing and similar rights | 25 | €1,267,155 | €1,216,000 | -€51,155 | -4.0% |
| Other tangible fixed assets | 26 | €1,713,807 | €1,665,247 | -€48,560 | -2.8% |
| Assets under construction and advance payments | 27 | €75,579 | €65,307 | -€10,272 | -13.6% |
| Current assets | 29/58 | €5,644,827 | €6,352,302 | +€707,476 | +12.5% |
| Stocks and contracts in progress | 3 | €22,861 | €21,360 | -€1,501 | -6.6% |
| Stocks | 30/36 | €22,861 | €21,360 | -€1,501 | -6.6% |
| Goods purchased for resale | 34 | €22,861 | €21,360 | -€1,501 | -6.6% |
| Amounts receivable within one year | 40/41 | €1,214,221 | €1,245,047 | +€30,827 | +2.5% |
| Trade receivables | 40 | €1,213,175 | €1,244,276 | +€31,101 | +2.6% |
| Other amounts receivable | 41 | €1,046 | €772 | -€274 | -26.2% |
| Current investments | 50/53 | €883,541 | €883,541 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,467,271 | €4,160,728 | +€693,457 | +20.0% |
| Deferred charges and accrued income | 490/1 | €56,932 | €41,626 | -€15,306 | -26.9% |
| Total equity and liabilities | 10/49 | €12,569,376 | €12,906,421 | +€337,045 | +2.7% |
| Equity | 10/15 | €10,055,812 | €10,237,383 | +€181,570 | +1.8% |
| Contributions | 10/11 | €5,920,933 | €5,920,933 | = | 0.0% |
| Capital | 10 | €5,920,933 | €5,920,933 | = | 0.0% |
| Reserves | 13 | - | €2,544,000 | +€2.5m | |
| Profit (loss) carried forward | 14 | €2,269,344 | €8,086 | -€2.3m | -99.6% |
| Investment grants | 15 | €1,865,536 | €1,764,364 | -€101,172 | -5.4% |
| Amounts payable | 17/49 | €2,513,563 | €2,669,038 | +€155,474 | +6.2% |
| Amounts payable after more than one year | 17 | €1,517,325 | €1,577,436 | +€60,111 | +4.0% |
| Financial debts | 170/4 | €1,517,325 | €1,577,436 | +€60,111 | +4.0% |
| Leasing and similar obligations | 172 | €1,229,154 | €1,329,380 | +€100,226 | +8.2% |
| Credit institutions | 173 | €186,898 | €156,203 | -€30,695 | -16.4% |
| Other loans | 174 | €101,273 | €91,853 | -€9,421 | -9.3% |
| Amounts payable within one year | 42/48 | €350,347 | €329,448 | -€20,899 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €193,191 | €67,115 | -€126,076 | -65.3% |
| Trade debts | 44 | €105,652 | €63,680 | -€41,972 | -39.7% |
| Suppliers | 440/4 | €105,652 | €63,680 | -€41,972 | -39.7% |
| Advances received on contracts in progress | 46 | €24,273 | - | -€24,273 | |
| Taxes, remuneration and social security | 45 | €15,851 | €17,548 | +€1,697 | +10.7% |
| Remuneration and social security | 454/9 | €15,851 | €17,548 | +€1,697 | +10.7% |
| Accrued charges and deferred income | 492/3 | €645,891 | €762,154 | +€116,263 | +18.0% |
| Operating income | 70/76A | €11,844,231 | €12,081,490 | +€237,258 | +2.0% |
| Turnover | 70 | €380,025 | €332,759 | -€47,266 | -12.4% |
| Membership fees, donations, legacies and grants | 73 | €11,173,096 | €11,471,571 | +€298,475 | +2.7% |
| Other operating income | 74 | €291,110 | €277,160 | -€13,951 | -4.8% |
| Operating charges | 60/66A | €11,470,873 | €11,791,973 | +€321,100 | +2.8% |
| Goods for resale, raw materials and consumables | 60 | €147,566 | €119,495 | -€28,071 | -19.0% |
| Purchases | 600/8 | €150,839 | €117,994 | -€32,845 | -21.8% |
| Change in stocks: decrease (increase) | 609 | -€3,273 | €1,501 | +€4,774 | |
| Services and other goods | 61 | €658,213 | €689,395 | +€31,182 | +4.7% |
| Remuneration, social security and pensions | 62 | €10,075,033 | €10,436,619 | +€361,585 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €537,339 | €503,820 | -€33,519 | -6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €24,620 | -€81,272 | -€105,891 | |
| Other operating charges | 640/8 | €28,103 | €123,916 | +€95,814 | +341% |
| Operating profit (loss) | 9901 | €373,358 | €289,516 | -€83,841 | -22.5% |
| Financial income | 75/76B | €3,644 | €1,367 | -€2,277 | -62.5% |
| Recurring financial income | 75 | €3,644 | €1,367 | -€2,277 | -62.5% |
| Income from current assets | 751 | - | €1,367 | +€1,367 | |
| Other financial income | 752/9 | €3,644 | - | -€3,644 | |
| Financial charges | 65/66B | -€23,289 | €8,141 | +€31,430 | |
| Recurring financial charges | 65 | -€23,289 | €8,141 | +€31,430 | |
| Debt charges | 650 | €2,711 | €2,359 | -€352 | -13.0% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€31,050 | - | +€31,050 | |
| Other financial charges | 652/9 | €5,050 | €5,782 | +€732 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | €400,290 | €282,742 | -€117,548 | -29.4% |
| Profit (loss) for the period | 9904 | €400,290 | €282,742 | -€117,548 | -29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €400,290 | €282,742 | -€117,548 | -29.4% |
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 17 October 2026 via checked.be.