Watch Out: 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.
Watch Out
Largest movements
- Current investments -€100,000
down €100,000 (-16.0%), from €625,000 to €525,000
- Other debts -€123,170
down €123,170 (-11.3%), from €1.1m to €967,020
- Financial income -€14,144
down €14,144 (-62.6%), from €22,600 to €8,456
- Taxes +€3,558
new in 2025: €3,558
- Other operating charges -€1,038
down €1,038 (-43.4%), from €2,394 to €1,356
- Gross operating margin -€240
down €240 (-17.9%), from -€1,339 to -€1,579
- Financial charges +€18
up €18 (+75.0%), from €24 to €42
of which Non-recurring financial charges: +€18
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 | €2,171,451 | €2,050,505 | -€120,946 | -5.6% |
| Fixed assets | 21/28 | €1,500,000 | €1,500,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,500,000 | €1,500,000 | = | 0.0% |
| Current assets | 29/58 | €671,451 | €550,505 | -€120,946 | -18.0% |
| Amounts receivable within one year | 40/41 | €10,262 | €2,537 | -€7,725 | -75.3% |
| Other amounts receivable | 41 | €10,262 | €2,537 | -€7,725 | -75.3% |
| Current investments | 50/53 | €625,000 | €525,000 | -€100,000 | -16.0% |
| Cash at bank and in hand | 54/58 | €36,189 | €22,968 | -€13,221 | -36.5% |
| Total equity and liabilities | 10/49 | €2,171,451 | €2,050,505 | -€120,946 | -5.6% |
| Equity | 10/15 | €1,079,985 | €1,081,906 | +€1,921 | +0.2% |
| Contributions | 10/11 | €1,072,000 | €1,072,000 | = | 0.0% |
| Reserves | 13 | - | €1,921 | +€1,921 | |
| Distributable reserves | 133 | - | €1,921 | +€1,921 | |
| Profit (loss) carried forward | 14 | €7,985 | €7,985 | = | 0.0% |
| Amounts payable | 17/49 | €1,091,466 | €968,599 | -€122,867 | -11.3% |
| Amounts payable within one year | 42/48 | €1,090,190 | €967,020 | -€123,170 | -11.3% |
| Other amounts payable | 47/48 | €1,090,190 | €967,020 | -€123,170 | -11.3% |
| Accrued charges and deferred income | 492/3 | €1,276 | €1,579 | +€303 | +23.7% |
| Other operating charges | 640/8 | €2,394 | €1,356 | -€1,038 | -43.4% |
| Gross operating margin | 9900 | -€1,339 | -€1,579 | -€240 | -17.9% |
| Operating profit (loss) | 9901 | -€3,733 | -€2,935 | +€798 | +21.4% |
| Financial income | 75/76B | €22,600 | €8,456 | -€14,144 | -62.6% |
| Recurring financial income | 75 | €22,600 | €8,456 | -€14,144 | -62.6% |
| Financial charges | 65/66B | €24 | €42 | +€18 | +75.0% |
| Recurring financial charges | 65 | €24 | €24 | = | 0.0% |
| Non-recurring financial charges | 66B | - | €18 | +€18 | |
| Profit (loss) for the period before taxes | 9903 | €18,843 | €5,479 | -€13,364 | -70.9% |
| Income taxes | 67/77 | - | €3,558 | +€3,558 | |
| Profit (loss) for the period | 9904 | €18,843 | €1,921 | -€16,922 | -89.8% |
| Transfer to tax-exempt reserves | 689 | - | €1,921 | +€1,921 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,843 | €0 | -€18,843 | -100% |
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 14 October 2026 via checked.be.