YAR: 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.
YAR
Largest movements
- Current investments +€852,979
up €852,979 (+208.0%), from €410,021 to €1.3m
- Receivables within one year -€753,125
no longer reported in 2025 (was €753,125)
- Cash -€565,781
down €565,781 (-96.8%), from €584,496 to €18,715
mainly Other debts (-€1.6m) and Current investments (-€852,979)
- Tangible fixed assets -€359,882
no longer reported in 2025 (was €359,882)
- Stocks and contracts -€103,868
down €103,868 (-79.6%), from €130,486 to €26,618
- Other debts -€1.6m
down €1.6m (-99.6%), from €1.6m to €5,808
- Reserves +€655,276
up €655,276 (+104.4%), from €627,728 to €1.3m
of which Distributable reserves: +€655,276
- Tax, wage and social debts -€30,023
down €30,023 (-36.1%), from €83,169 to €53,146
- Gross operating margin +€773,029
up €773,029 (+440.1%), from €175,667 to €948,696
- Taxes +€250,971
up €250,971 (+457.8%), from €54,825 to €305,795
- Depreciation -€20,635
no longer reported in 2025 (was €20,635)
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 | €2,338,114 | €1,408,333 | -€929,781 | -39.8% |
| Fixed assets | 21/28 | €359,882 | - | -€359,882 | |
| Tangible fixed assets | 22/27 | €359,882 | - | -€359,882 | |
| Land and buildings | 22 | €359,882 | - | -€359,882 | |
| Current assets | 29/58 | €1,978,232 | €1,408,333 | -€569,899 | -28.8% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €130,486 | €26,618 | -€103,868 | -79.6% |
| Stocks | 30/36 | €130,486 | €26,618 | -€103,868 | -79.6% |
| Amounts receivable within one year | 40/41 | €753,125 | - | -€753,125 | |
| Other amounts receivable | 41 | €753,125 | - | -€753,125 | |
| Current investments | 50/53 | €410,021 | €1,263,000 | +€852,979 | +208.0% |
| Cash at bank and in hand | 54/58 | €584,496 | €18,715 | -€565,781 | -96.8% |
| Deferred charges and accrued income | 490/1 | €104 | - | -€104 | |
| Total equity and liabilities | 10/49 | €2,338,114 | €1,408,333 | -€929,781 | -39.8% |
| Equity | 10/15 | €689,228 | €1,344,504 | +€655,276 | +95.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €627,728 | €1,283,004 | +€655,276 | +104.4% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €621,578 | €1,276,854 | +€655,276 | +105.4% |
| Amounts payable | 17/49 | €1,648,886 | €63,829 | -€1.6m | -96.1% |
| Amounts payable within one year | 42/48 | €1,648,886 | €58,954 | -€1.6m | -96.4% |
| Trade debts | 44 | €405 | - | -€405 | |
| Suppliers | 440/4 | €405 | - | -€405 | |
| Taxes, remuneration and social security | 45 | €83,169 | €53,146 | -€30,023 | -36.1% |
| Taxes | 450/3 | €83,169 | €53,146 | -€30,023 | -36.1% |
| Other amounts payable | 47/48 | €1,565,311 | €5,808 | -€1.6m | -99.6% |
| Accrued charges and deferred income | 492/3 | - | €4,875 | +€4,875 | |
| Non-recurring operating income | 76A | - | €796,787 | +€796,787 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,635 | - | -€20,635 | |
| Other operating charges | 640/8 | €3,193 | €1,435 | -€1,758 | -55.1% |
| Gross operating margin | 9900 | €175,667 | €948,696 | +€773,029 | +440.1% |
| Operating profit (loss) | 9901 | €151,840 | €947,261 | +€795,421 | +523.9% |
| Financial income | 75/76B | €19,732 | €14,832 | -€4,900 | -24.8% |
| Recurring financial income | 75 | €19,732 | €14,832 | -€4,900 | -24.8% |
| Financial charges | 65/66B | €1,089 | €1,022 | -€67 | -6.2% |
| Recurring financial charges | 65 | €1,089 | €1,022 | -€67 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €170,483 | €961,071 | +€790,589 | +463.7% |
| Income taxes | 67/77 | €54,825 | €305,795 | +€250,971 | +457.8% |
| Profit (loss) for the period | 9904 | €115,658 | €655,276 | +€539,618 | +466.6% |
| Profit (loss) for the period to be appropriated | 9905 | €115,658 | €655,276 | +€539,618 | +466.6% |
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 29 September 2026 via checked.be.