Y54: 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.
Y54
Largest movements
- Cash -€6,416
down €6,416 (-2.2%), from €288,856 to €282,440
mainly Net result for the year (-€3,418) and Investment in fixed assets (net) (-€1,933)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€894
up €894 (+17.7%), from -€5,057 to -€4,163
- Financial income -€747
down €747 (-20.0%), from €3,726 to €2,979
- Taxes -€507
no longer reported in 2025 (was €507)
- Depreciation +€258
new in 2025: €258
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 | €426,571 | €423,063 | -€3,507 | -0.8% |
| Fixed assets | 21/28 | €81,868 | €83,543 | +€1,675 | +2.0% |
| Tangible fixed assets | 22/27 | €81,868 | €83,543 | +€1,675 | +2.0% |
| Land and buildings | 22 | €35,464 | €35,464 | = | 0.0% |
| Plant, machinery and equipment | 23 | €15,418 | €17,093 | +€1,675 | +10.9% |
| Other tangible fixed assets | 26 | €30,987 | €30,987 | = | 0.0% |
| Current assets | 29/58 | €344,702 | €339,520 | -€5,182 | -1.5% |
| Amounts receivable within one year | 40/41 | €55,667 | €56,897 | +€1,230 | +2.2% |
| Other amounts receivable | 41 | €55,667 | €56,897 | +€1,230 | +2.2% |
| Cash at bank and in hand | 54/58 | €288,856 | €282,440 | -€6,416 | -2.2% |
| Deferred charges and accrued income | 490/1 | €179 | €183 | +€4 | +2.2% |
| Total equity and liabilities | 10/49 | €426,571 | €423,063 | -€3,507 | -0.8% |
| Equity | 10/15 | €426,179 | €422,761 | -€3,418 | -0.8% |
| Contributions | 10/11 | €66,700 | €66,700 | = | 0.0% |
| Capital | 10 | €66,700 | €66,700 | = | 0.0% |
| Issued capital | 100 | €66,700 | €66,700 | = | 0.0% |
| Reserves | 13 | €570,587 | €570,587 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,670 | €6,670 | = | 0.0% |
| Legal reserve | 130 | €6,670 | €6,670 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €545,167 | €545,167 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€211,108 | -€214,526 | -€3,418 | -1.6% |
| Amounts payable | 17/49 | €392 | €302 | -€90 | -22.9% |
| Amounts payable within one year | 42/48 | €392 | €302 | -€90 | -22.9% |
| Trade debts | 44 | €327 | - | -€327 | |
| Suppliers | 440/4 | €327 | - | -€327 | |
| Taxes, remuneration and social security | 45 | €65 | - | -€65 | |
| Taxes | 450/3 | €65 | - | -€65 | |
| Other amounts payable | 47/48 | - | €302 | +€302 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €258 | +€258 | |
| Other operating charges | 640/8 | €1,918 | €1,901 | -€17 | -0.9% |
| Gross operating margin | 9900 | -€5,057 | -€4,163 | +€894 | +17.7% |
| Operating profit (loss) | 9901 | -€6,975 | -€6,321 | +€654 | +9.4% |
| Financial income | 75/76B | €3,726 | €2,979 | -€747 | -20.0% |
| Recurring financial income | 75 | €3,726 | €2,979 | -€747 | -20.0% |
| Financial charges | 65/66B | €109 | €75 | -€34 | -31.1% |
| Recurring financial charges | 65 | €109 | €75 | -€34 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | -€3,358 | -€3,418 | -€59 | -1.8% |
| Income taxes | 67/77 | €507 | - | -€507 | |
| Profit (loss) for the period | 9904 | -€3,865 | -€3,418 | +€448 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,865 | -€3,418 | +€448 | +11.6% |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.