WOW: 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.
WOW
Largest movements
- Tangible fixed assets +€159,089
up €159,089 (+33.0%), from €482,281 to €641,369
of which Land and buildings: +€157,956
- Cash +€120,753
up €120,753 (+775.2%), from €15,577 to €136,330
mainly Contributions, distributions and other (+€319,496) and Provisions (+€106,499)
- Receivables within one year -€15,784
down €15,784 (-22.4%), from €70,358 to €54,574
of which Trade receivables: -€33,470
- Reserves +€345,999
new in 2025: €345,999
of which Tax-exempt reserves: +€319,496
- Debts after one year -€163,481
down €163,481 (-98.8%), from €165,481 to €2,000
of which Financial debts: -€163,481
- Provisions +€106,499
new in 2025: €106,499
- Current portion of long-term debt -€32,806
no longer reported in 2025 (was €32,806)
- Tax, wage and social debts +€12,110
up €12,110 (+44.1%), from €27,482 to €39,592
- Gross operating margin +€433,925
up €433,925 (+340.0%), from €127,630 to €561,555
- Other operating charges +€31,029
up €31,029 (+364.9%), from €8,504 to €39,533
- Financial charges +€13,432
up €13,432 (+258.0%), from €5,205 to €18,638
- Depreciation -€6,116
down €6,116 (-16.0%), from €38,335 to €32,219
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 | €571,936 | €833,575 | +€261,639 | +45.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €482,281 | €641,369 | +€159,089 | +33.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €482,281 | €641,369 | +€159,089 | +33.0% |
| Land and buildings | 22 | €478,944 | €636,900 | +€157,956 | +33.0% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €3,337 | €4,470 | +€1,133 | +34.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €89,656 | €192,206 | +€102,550 | +114.4% |
| Amounts receivable within one year | 40/41 | €70,358 | €54,574 | -€15,784 | -22.4% |
| Trade receivables | 40 | €58,476 | €25,006 | -€33,470 | -57.2% |
| Other amounts receivable | 41 | €11,882 | €29,568 | +€17,686 | +148.8% |
| Cash at bank and in hand | 54/58 | €15,577 | €136,330 | +€120,753 | +775.2% |
| Deferred charges and accrued income | 490/1 | €3,721 | €1,302 | -€2,420 | -65.0% |
| Total equity and liabilities | 10/49 | €571,936 | €833,575 | +€261,639 | +45.7% |
| Equity | 10/15 | €80,006 | €428,161 | +€348,155 | +435.2% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Outside capital | 11 | €20,451 | - | -€20,451 | |
| Other | 1109/19 | €20,451 | - | -€20,451 | |
| Reserves | 13 | - | €345,999 | +€345,999 | |
| Tax-exempt reserves | 132 | - | €319,496 | +€319,496 | |
| Distributable reserves | 133 | - | €26,503 | +€26,503 | |
| Profit (loss) carried forward | 14 | €59,555 | €61,711 | +€2,156 | +3.6% |
| Provisions and deferred taxes | 16 | - | €106,499 | +€106,499 | |
| Deferred taxes | 168 | - | €106,499 | +€106,499 | |
| Amounts payable | 17/49 | €491,930 | €298,916 | -€193,015 | -39.2% |
| Amounts payable after more than one year | 17 | €165,481 | €2,000 | -€163,481 | -98.8% |
| Financial debts | 170/4 | €163,481 | - | -€163,481 | |
| Other amounts payable | 178/9 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €326,450 | €296,916 | -€29,534 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €32,806 | - | -€32,806 | |
| Trade debts | 44 | €22,230 | €11,496 | -€10,734 | -48.3% |
| Suppliers | 440/4 | €22,230 | €11,496 | -€10,734 | -48.3% |
| Taxes, remuneration and social security | 45 | €27,482 | €39,592 | +€12,110 | +44.1% |
| Taxes | 450/3 | €27,482 | €39,592 | +€12,110 | +44.1% |
| Other amounts payable | 47/48 | €243,932 | €245,827 | +€1,895 | +0.8% |
| Non-recurring operating income | 76A | - | €2,684 | +€2,684 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,335 | €32,219 | -€6,116 | -16.0% |
| Other operating charges | 640/8 | €8,504 | €39,533 | +€31,029 | +364.9% |
| Gross operating margin | 9900 | €127,630 | €561,555 | +€433,925 | +340.0% |
| Operating profit (loss) | 9901 | €80,792 | €489,804 | +€409,012 | +506.3% |
| Financial income | 75/76B | €982 | €2 | -€980 | -99.8% |
| Recurring financial income | 75 | €982 | €2 | -€980 | -99.8% |
| Financial charges | 65/66B | €5,205 | €18,638 | +€13,432 | +258.0% |
| Recurring financial charges | 65 | €5,205 | €18,638 | +€13,432 | +258.0% |
| Profit (loss) for the period before taxes | 9903 | €76,568 | €471,168 | +€394,599 | +515.4% |
| Transfer from deferred taxes | 780 | - | €38,153 | +€38,153 | |
| Transfer to deferred taxes | 680 | - | €464,148 | +€464,148 | |
| Income taxes | 67/77 | €21,140 | €16,514 | -€4,626 | -21.9% |
| Profit (loss) for the period | 9904 | €55,428 | €28,659 | -€26,770 | -48.3% |
| Profit (loss) for the period to be appropriated | 9905 | €55,428 | €28,659 | -€26,770 | -48.3% |
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 8 October 2026 via checked.be.