WEALTH: 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.
WEALTH
Largest movements
- Cash +€1.1m
up €1.1m (+2,375%), from €46,777 to €1.2m
mainly Net result for the year (+€557,287) and Depreciation (+€203,736)
- Tangible fixed assets -€514,283
down €514,283 (-11.5%), from €4.5m to €4.0m
of which Land and buildings: -€471,829
- Financial fixed assets +€241,073
up €241,073 (+47.3%), from €509,686 to €750,760
- Receivables within one year -€149,831
down €149,831 (-62.2%), from €240,778 to €90,948
of which Other amounts receivable: -€97,788
- Profit (loss) carried forward +€337,965
up €337,965 (+22.1%), from €1.5m to €1.9m
- Reserves +€171,321
up €171,321 (+56.7%), from €302,255 to €473,576
of which Tax-exempt reserves: +€143,671
- Current portion of long-term debt +€104,072
up €104,072 (+37.7%), from €276,214 to €380,286
- Tax, wage and social debts +€103,266
up €103,266 (+119%), from €86,867 to €190,133
of which Taxes: +€99,972
- Financial income -€1.0m
down €1.0m (-95.1%), from €1.1m to €53,083
of which Non-recurring financial income: -€1.0m
- Gross operating margin +€339,568
up €339,568 (+52.8%), from €643,643 to €983,211
- Other operating charges -€117,390
down €117,390 (-73.7%), from €159,194 to €41,805
- Depreciation +€55,759
up €55,759 (+37.7%), from €147,977 to €203,736
- Taxes +€42,708
up €42,708 (+80.0%), from €53,399 to €96,107
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 | €5,290,003 | €5,980,871 | +€690,868 | +13.1% |
| Fixed assets | 21/28 | €4,998,392 | €4,725,182 | -€273,210 | -5.5% |
| Tangible fixed assets | 22/27 | €4,488,706 | €3,974,422 | -€514,283 | -11.5% |
| Land and buildings | 22 | €4,384,620 | €3,912,791 | -€471,829 | -10.8% |
| Plant, machinery and equipment | 23 | €6,218 | €4,965 | -€1,253 | -20.1% |
| Furniture and vehicles | 24 | €97,868 | €56,667 | -€41,202 | -42.1% |
| Financial fixed assets | 28 | €509,686 | €750,760 | +€241,073 | +47.3% |
| Current assets | 29/58 | €291,611 | €1,255,689 | +€964,077 | +331% |
| Amounts receivable within one year | 40/41 | €240,778 | €90,948 | -€149,831 | -62.2% |
| Trade receivables | 40 | €109,457 | €57,414 | -€52,043 | -47.5% |
| Other amounts receivable | 41 | €131,321 | €33,533 | -€97,788 | -74.5% |
| Cash at bank and in hand | 54/58 | €46,777 | €1,157,584 | +€1.1m | +2,375% |
| Deferred charges and accrued income | 490/1 | €4,055 | €7,157 | +€3,102 | +76.5% |
| Total equity and liabilities | 10/49 | €5,290,003 | €5,980,871 | +€690,868 | +13.1% |
| Equity | 10/15 | €1,949,643 | €2,454,231 | +€504,588 | +25.9% |
| Contributions | 10/11 | €15,831 | €15,831 | = | 0.0% |
| Reserves | 13 | €302,255 | €473,576 | +€171,321 | +56.7% |
| Non-distributable reserves | 130/1 | €1,749 | €29,399 | +€27,650 | +1,581% |
| Reserves not available under the articles | 1311 | €1,749 | €29,399 | +€27,650 | +1,581% |
| Tax-exempt reserves | 132 | €27,650 | €171,321 | +€143,671 | +520% |
| Distributable reserves | 133 | €272,856 | €272,856 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,527,985 | €1,865,950 | +€337,965 | +22.1% |
| Investment grants | 15 | €103,572 | €98,873 | -€4,699 | -4.5% |
| Provisions and deferred taxes | 16 | - | €57,107 | +€57,107 | |
| Deferred taxes | 168 | - | €57,107 | +€57,107 | |
| Amounts payable | 17/49 | €3,340,360 | €3,469,533 | +€129,173 | +3.9% |
| Amounts payable after more than one year | 17 | €2,725,456 | €2,693,361 | -€32,095 | -1.2% |
| Financial debts | 170/4 | €2,622,837 | €2,593,361 | -€29,476 | -1.1% |
| Other amounts payable | 178/9 | €102,619 | €100,000 | -€2,619 | -2.6% |
| Amounts payable within one year | 42/48 | €614,904 | €776,171 | +€161,268 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | €276,214 | €380,286 | +€104,072 | +37.7% |
| Trade debts | 44 | €12,916 | €16,690 | +€3,774 | +29.2% |
| Suppliers | 440/4 | €12,916 | €16,690 | +€3,774 | +29.2% |
| Taxes, remuneration and social security | 45 | €86,867 | €190,133 | +€103,266 | +119% |
| Taxes | 450/3 | €86,867 | €186,839 | +€99,972 | +115% |
| Remuneration and social security | 454/9 | - | €3,294 | +€3,294 | |
| Other amounts payable | 47/48 | €238,907 | €189,062 | -€49,845 | -20.9% |
| Non-recurring operating income | 76A | €61,933 | €312,892 | +€250,960 | +405% |
| Remuneration, social security and pensions | 62 | - | €15,187 | +€15,187 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,977 | €203,736 | +€55,759 | +37.7% |
| Other operating charges | 640/8 | €159,194 | €41,805 | -€117,390 | -73.7% |
| Gross operating margin | 9900 | €643,643 | €983,211 | +€339,568 | +52.8% |
| Operating profit (loss) | 9901 | €336,471 | €722,483 | +€386,011 | +115% |
| Financial income | 75/76B | €1,075,130 | €53,083 | -€1.0m | -95.1% |
| Recurring financial income | 75 | €75,130 | €53,083 | -€22,047 | -29.3% |
| Non-recurring financial income | 76B | €1,000,000 | €0 | -€1.0m | -100% |
| Financial charges | 65/66B | €80,660 | €65,065 | -€15,596 | -19.3% |
| Recurring financial charges | 65 | €80,660 | €65,065 | -€15,596 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €1,330,941 | €710,501 | -€620,440 | -46.6% |
| Transfer to deferred taxes | 680 | - | €57,107 | +€57,107 | |
| Income taxes | 67/77 | €53,399 | €96,107 | +€42,708 | +80.0% |
| Profit (loss) for the period | 9904 | €1,277,541 | €557,287 | -€720,255 | -56.4% |
| Transfer to tax-exempt reserves | 689 | - | €171,321 | +€171,321 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,277,541 | €385,965 | -€891,576 | -69.8% |
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 16 October 2026 via checked.be.