VORTEX: 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.
VORTEX
Largest movements
- Tangible fixed assets +€3,712
up €3,712 (+1.3%), from €292,668 to €296,381
of which Land and buildings: +€3,712
- Cash -€3,430
down €3,430 (-16.0%), from €21,459 to €18,028
mainly Investment in fixed assets (net) (-€15,604) and Debts after one year (-€2,866)
No liability line moved by more than 1% of the balance sheet total.
- Depreciation -€5,368
down €5,368 (-31.1%), from €17,260 to €11,891
- Gross operating margin -€5,329
down €5,329 (-26.1%), from €20,382 to €15,053
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 | €320,575 | €320,909 | +€334 | +0.1% |
| Fixed assets | 21/28 | €292,668 | €296,381 | +€3,712 | +1.3% |
| Tangible fixed assets | 22/27 | €292,668 | €296,381 | +€3,712 | +1.3% |
| Land and buildings | 22 | €286,471 | €290,183 | +€3,712 | +1.3% |
| Furniture and vehicles | 24 | €6,197 | €6,197 | = | 0.0% |
| Current assets | 29/58 | €27,907 | €24,528 | -€3,379 | -12.1% |
| Amounts receivable within one year | 40/41 | €6,448 | €6,500 | +€51 | +0.8% |
| Other amounts receivable | 41 | €6,448 | €6,500 | +€51 | +0.8% |
| Cash at bank and in hand | 54/58 | €21,459 | €18,028 | -€3,430 | -16.0% |
| Total equity and liabilities | 10/49 | €320,575 | €320,909 | +€334 | +0.1% |
| Equity | 10/15 | €281,565 | €281,624 | +€59 | 0.0% |
| Contributions | 10/11 | €154,705 | €154,705 | = | 0.0% |
| Reserves | 13 | €126,859 | €126,918 | +€59 | 0.0% |
| Tax-exempt reserves | 132 | €95 | €95 | = | 0.0% |
| Distributable reserves | 133 | €126,765 | €126,824 | +€59 | 0.0% |
| Amounts payable | 17/49 | €39,011 | €39,285 | +€274 | +0.7% |
| Amounts payable after more than one year | 17 | €27,846 | €24,979 | -€2,866 | -10.3% |
| Financial debts | 170/4 | €11,791 | €11,931 | +€140 | +1.2% |
| Other amounts payable | 178/9 | €16,055 | €13,049 | -€3,007 | -18.7% |
| Amounts payable within one year | 42/48 | €11,165 | €14,306 | +€3,141 | +28.1% |
| Current portion of amounts payable after more than one year | 42 | €8,077 | €8,280 | +€203 | +2.5% |
| Financial debts | 43 | €845 | €841 | -€4 | -0.5% |
| Credit institutions | 430/8 | €845 | €841 | -€4 | -0.5% |
| Trade debts | 44 | €2,243 | €5,185 | +€2,942 | +131.2% |
| Suppliers | 440/4 | €2,243 | €5,185 | +€2,942 | +131.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,260 | €11,891 | -€5,368 | -31.1% |
| Other operating charges | 640/8 | €2,198 | €2,266 | +€67 | +3.1% |
| Gross operating margin | 9900 | €20,382 | €15,053 | -€5,329 | -26.1% |
| Operating profit (loss) | 9901 | €924 | €896 | -€28 | -3.0% |
| Financial charges | 65/66B | €811 | €815 | +€4 | +0.4% |
| Recurring financial charges | 65 | €811 | €815 | +€4 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €113 | €81 | -€32 | -28.0% |
| Income taxes | 67/77 | €36 | €22 | -€14 | -38.3% |
| Profit (loss) for the period | 9904 | €77 | €59 | -€18 | -23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €77 | €59 | -€18 | -23.2% |
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 4 October 2026 via checked.be.