X - TENSION: 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.
X - TENSION
Largest movements
- Current investments -€66,184
down €66,184 (-21.4%), from €308,687 to €242,502
- Cash +€36,228
up €36,228 (+563%), from €6,440 to €42,669
mainly Current investments (+€66,184) and Receivables after one year (+€20,599)
- Receivables after one year -€20,599
down €20,599 (-100%), from €20,599 to €0
- Reserves -€35,626
down €35,626 (-13.5%), from €262,986 to €227,360
of which Distributable reserves: -€35,626
- Profit (loss) carried forward -€31,607
down €31,607, from €18,870 to -€12,737
- Other debts +€6,441
up €6,441 (+22.1%), from €29,186 to €35,626
- Taxes -€102,835
down €102,835 (-99.0%), from €103,904 to €1,070
- Gross operating margin +€16,620
up €16,620 (+32.7%), from -€50,834 to -€34,214
- Financial income -€2,963
down €2,963 (-27.2%), from €10,911 to €7,948
- Other operating charges +€851
up €851 (+43.3%), from €1,963 to €2,814
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 | €461,799 | €401,608 | -€60,191 | -13.0% |
| Fixed assets | 21/28 | €33,618 | €32,247 | -€1,371 | -4.1% |
| Tangible fixed assets | 22/27 | €33,290 | €31,919 | -€1,371 | -4.1% |
| Land and buildings | 22 | €32,936 | €31,796 | -€1,140 | -3.5% |
| Furniture and vehicles | 24 | €355 | €123 | -€231 | -65.2% |
| Financial fixed assets | 28 | €328 | €328 | = | 0.0% |
| Current assets | 29/58 | €428,181 | €369,361 | -€58,820 | -13.7% |
| Amounts receivable after more than one year | 29 | €20,599 | €0 | -€20,599 | -100% |
| Other amounts receivable | 291 | €20,599 | €0 | -€20,599 | -100% |
| Amounts receivable within one year | 40/41 | €81,727 | €77,373 | -€4,354 | -5.3% |
| Trade receivables | 40 | €39,489 | €39,416 | -€73 | -0.2% |
| Other amounts receivable | 41 | €42,238 | €37,957 | -€4,281 | -10.1% |
| Current investments | 50/53 | €308,687 | €242,502 | -€66,184 | -21.4% |
| Cash at bank and in hand | 54/58 | €6,440 | €42,669 | +€36,228 | +563% |
| Deferred charges and accrued income | 490/1 | €10,728 | €6,818 | -€3,910 | -36.5% |
| Total equity and liabilities | 10/49 | €461,799 | €401,608 | -€60,191 | -13.0% |
| Equity | 10/15 | €323,998 | €256,764 | -€67,233 | -20.8% |
| Contributions | 10/11 | €42,142 | €42,142 | = | 0.0% |
| Reserves | 13 | €262,986 | €227,360 | -€35,626 | -13.5% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €262,986 | €227,360 | -€35,626 | -13.5% |
| Profit (loss) carried forward | 14 | €18,870 | -€12,737 | -€31,607 | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €137,802 | €144,844 | +€7,042 | +5.1% |
| Amounts payable within one year | 42/48 | €137,802 | €144,844 | +€7,042 | +5.1% |
| Trade debts | 44 | €4,062 | €1,829 | -€2,233 | -55.0% |
| Suppliers | 440/4 | €4,062 | €1,829 | -€2,233 | -55.0% |
| Taxes, remuneration and social security | 45 | €104,554 | €107,388 | +€2,835 | +2.7% |
| Taxes | 450/3 | €104,554 | €107,388 | +€2,835 | +2.7% |
| Other amounts payable | 47/48 | €29,186 | €35,626 | +€6,441 | +22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,694 | €1,371 | -€323 | -19.1% |
| Other operating charges | 640/8 | €1,963 | €2,814 | +€851 | +43.3% |
| Gross operating margin | 9900 | -€50,834 | -€34,214 | +€16,620 | +32.7% |
| Operating profit (loss) | 9901 | -€54,491 | -€38,399 | +€16,092 | +29.5% |
| Financial income | 75/76B | €10,911 | €7,948 | -€2,963 | -27.2% |
| Recurring financial income | 75 | €10,911 | €7,948 | -€2,963 | -27.2% |
| Financial charges | 65/66B | €411 | €87 | -€324 | -78.9% |
| Recurring financial charges | 65 | €411 | €87 | -€324 | -78.9% |
| Profit (loss) for the period before taxes | 9903 | -€43,991 | -€30,538 | +€13,454 | +30.6% |
| Transfer from deferred taxes | 780 | €86,266 | €0 | -€86,266 | -100% |
| Income taxes | 67/77 | €103,904 | €1,070 | -€102,835 | -99.0% |
| Profit (loss) for the period | 9904 | -€61,630 | -€31,607 | +€30,022 | +48.7% |
| Transfer from tax-exempt reserves | 789 | €258,798 | €0 | -€258,798 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €197,168 | -€31,607 | -€228,776 |
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 29 October 2026 via checked.be.