WORK IT: 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.
WORK IT
Largest movements
- Cash +€171,778
up €171,778 (+10,374%), from €1,656 to €173,434
mainly Net result for the year (+€239,233) and Investment in fixed assets (net) (+€163,465)
- Tangible fixed assets -€163,938
down €163,938 (-97.2%), from €168,709 to €4,771
of which Land and buildings: -€168,511
- Receivables within one year +€71,762
up €71,762 (+486%), from €14,763 to €86,525
of which Other amounts receivable: +€70,994
- Profit (loss) carried forward +€154,921
up €154,921, from -€154,921 to €0
- Debts after one year -€124,982
down €124,982 (-100%), from €124,982 to €0
- Reserves +€84,312
up €84,312 (+69.9%), from €120,610 to €204,922
of which Distributable reserves: +€84,312
- Current portion of long-term debt -€18,674
down €18,674 (-100%), from €18,674 to €0
- Other debts -€15,112
down €15,112 (-27.0%), from €55,872 to €40,760
- Gross operating margin +€223,879
up €223,879 (+431%), from €51,970 to €275,848
- Taxes +€30,348
new in 2025: €30,348
- Staff costs -€15,809
down €15,809 (-92.3%), from €17,125 to €1,316
- Depreciation -€14,825
down €14,825 (-95.6%), from €15,499 to €674
- Other operating charges -€9,509
down €9,509 (-89.5%), from €10,622 to €1,113
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 | €185,733 | €264,730 | +€78,997 | +42.5% |
| Fixed assets | 21/28 | €168,910 | €4,771 | -€164,139 | -97.2% |
| Tangible fixed assets | 22/27 | €168,709 | €4,771 | -€163,938 | -97.2% |
| Land and buildings | 22 | €168,511 | €0 | -€168,511 | -100% |
| Plant, machinery and equipment | 23 | €198 | €4,771 | +€4,573 | +2,313% |
| Financial fixed assets | 28 | €201 | €0 | -€201 | -100% |
| Current assets | 29/58 | €16,823 | €259,959 | +€243,136 | +1,445% |
| Amounts receivable within one year | 40/41 | €14,763 | €86,525 | +€71,762 | +486% |
| Trade receivables | 40 | - | €768 | +€768 | |
| Other amounts receivable | 41 | €14,763 | €85,757 | +€70,994 | +481% |
| Cash at bank and in hand | 54/58 | €1,656 | €173,434 | +€171,778 | +10,374% |
| Deferred charges and accrued income | 490/1 | €405 | €0 | -€405 | -100% |
| Total equity and liabilities | 10/49 | €185,733 | €264,730 | +€78,997 | +42.5% |
| Equity | 10/15 | -€28,111 | €211,122 | +€239,233 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €120,610 | €204,922 | +€84,312 | +69.9% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €101,860 | €186,172 | +€84,312 | +82.8% |
| Profit (loss) carried forward | 14 | -€154,921 | €0 | +€154,921 | |
| Amounts payable | 17/49 | €213,844 | €53,607 | -€160,237 | -74.9% |
| Amounts payable after more than one year | 17 | €124,982 | €0 | -€124,982 | -100% |
| Financial debts | 170/4 | €124,982 | €0 | -€124,982 | -100% |
| Amounts payable within one year | 42/48 | €88,862 | €53,607 | -€35,254 | -39.7% |
| Current portion of amounts payable after more than one year | 42 | €18,674 | €0 | -€18,674 | -100% |
| Trade debts | 44 | €11,389 | €0 | -€11,389 | -100% |
| Suppliers | 440/4 | €11,389 | €0 | -€11,389 | -100% |
| Taxes, remuneration and social security | 45 | €2,926 | €12,848 | +€9,921 | +339% |
| Taxes | 450/3 | €2,128 | €12,848 | +€10,720 | +504% |
| Remuneration and social security | 454/9 | €799 | €0 | -€799 | -100% |
| Other amounts payable | 47/48 | €55,872 | €40,760 | -€15,112 | -27.0% |
| Non-recurring operating income | 76A | €2,849 | €325,284 | +€322,435 | +11,316% |
| Remuneration, social security and pensions | 62 | €17,125 | €1,316 | -€15,809 | -92.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,499 | €674 | -€14,825 | -95.6% |
| Other operating charges | 640/8 | €10,622 | €1,113 | -€9,509 | -89.5% |
| Non-recurring operating charges | 66A | €5,339 | €0 | -€5,339 | -100% |
| Gross operating margin | 9900 | €51,970 | €275,848 | +€223,879 | +431% |
| Operating profit (loss) | 9901 | €3,385 | €272,745 | +€269,360 | +7,958% |
| Financial income | 75/76B | €739 | €766 | +€27 | +3.6% |
| Recurring financial income | 75 | €739 | €766 | +€27 | +3.6% |
| Financial charges | 65/66B | €7,250 | €3,930 | -€3,320 | -45.8% |
| Recurring financial charges | 65 | €7,250 | €3,930 | -€3,320 | -45.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,126 | €269,581 | +€272,707 | |
| Income taxes | 67/77 | - | €30,348 | +€30,348 | |
| Profit (loss) for the period | 9904 | -€3,126 | €239,233 | +€242,359 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,126 | €239,233 | +€242,359 |
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 15 October 2026 via checked.be.