YOUR ADVANTAGE: 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.
YOUR ADVANTAGE
Largest movements
- Financial fixed assets +€375,000
new in 2025: €375,000
- Receivables after one year +€83,975
up €83,975 (+23.6%), from €355,975 to €439,950
- Deferred charges and accrued income -€36,370
down €36,370 (-86.9%), from €41,868 to €5,498
- Cash +€21,432
up €21,432 (+203.5%), from €10,532 to €31,964
mainly Debts after one year (+€339,054) and Current portion of long-term debt (+€77,175)
- Tangible fixed assets -€14,814
down €14,814 (-3.0%), from €491,664 to €476,849
of which Land and buildings: -€33,118
- Debts after one year +€339,054
up €339,054 (+64.7%), from €524,297 to €863,351
- Current portion of long-term debt +€77,175
up €77,175 (+108.9%), from €70,837 to €148,012
- Gross operating margin -€10,595
down €10,595 (-13.5%), from €78,427 to €67,832
- Taxes +€4,464
up €4,464 (+35.0%), from €12,742 to €17,207
- Depreciation +€2,760
up €2,760 (+7.9%), from €34,832 to €37,592
- Financial charges -€806
down €806 (-6.7%), from €12,017 to €11,211
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 | €918,553 | €1,339,072 | +€420,518 | +45.8% |
| Fixed assets | 21/28 | €491,664 | €851,849 | +€360,186 | +73.3% |
| Tangible fixed assets | 22/27 | €491,664 | €476,849 | -€14,814 | -3.0% |
| Land and buildings | 22 | €488,995 | €455,877 | -€33,118 | -6.8% |
| Furniture and vehicles | 24 | €2,669 | €20,973 | +€18,304 | +685.8% |
| Financial fixed assets | 28 | - | €375,000 | +€375,000 | |
| Current assets | 29/58 | €426,890 | €487,222 | +€60,333 | +14.1% |
| Amounts receivable after more than one year | 29 | €355,975 | €439,950 | +€83,975 | +23.6% |
| Other amounts receivable | 291 | €355,975 | €439,950 | +€83,975 | +23.6% |
| Amounts receivable within one year | 40/41 | €14,269 | €2,539 | -€11,730 | -82.2% |
| Other amounts receivable | 41 | €14,269 | €2,539 | -€11,730 | -82.2% |
| Current investments | 50/53 | €4,245 | €7,271 | +€3,026 | +71.3% |
| Cash at bank and in hand | 54/58 | €10,532 | €31,964 | +€21,432 | +203.5% |
| Deferred charges and accrued income | 490/1 | €41,868 | €5,498 | -€36,370 | -86.9% |
| Total equity and liabilities | 10/49 | €918,553 | €1,339,072 | +€420,518 | +45.8% |
| Equity | 10/15 | €240,001 | €250,932 | +€10,931 | +4.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €233,801 | €244,732 | +€10,931 | +4.7% |
| Distributable reserves | 133 | €233,801 | €244,732 | +€10,931 | +4.7% |
| Amounts payable | 17/49 | €678,553 | €1,088,140 | +€409,587 | +60.4% |
| Amounts payable after more than one year | 17 | €524,297 | €863,351 | +€339,054 | +64.7% |
| Financial debts | 170/4 | €524,297 | €863,351 | +€339,054 | +64.7% |
| Amounts payable within one year | 42/48 | €154,256 | €224,789 | +€70,533 | +45.7% |
| Current portion of amounts payable after more than one year | 42 | €70,837 | €148,012 | +€77,175 | +108.9% |
| Financial debts | 43 | €12,500 | €12,500 | = | 0.0% |
| Credit institutions | 430/8 | €12,500 | €12,500 | = | 0.0% |
| Trade debts | 44 | €9,332 | €8,432 | -€900 | -9.6% |
| Suppliers | 440/4 | €9,332 | €8,432 | -€900 | -9.6% |
| Taxes, remuneration and social security | 45 | €41,090 | €29,105 | -€11,985 | -29.2% |
| Taxes | 450/3 | €41,090 | €29,105 | -€11,985 | -29.2% |
| Other amounts payable | 47/48 | €20,497 | €26,740 | +€6,243 | +30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,832 | €37,592 | +€2,760 | +7.9% |
| Other operating charges | 640/8 | €5,228 | €5,179 | -€49 | -0.9% |
| Gross operating margin | 9900 | €78,427 | €67,832 | -€10,595 | -13.5% |
| Operating profit (loss) | 9901 | €38,367 | €25,061 | -€13,306 | -34.7% |
| Financial income | 75/76B | €14,760 | €14,288 | -€472 | -3.2% |
| Recurring financial income | 75 | €14,760 | €14,288 | -€472 | -3.2% |
| Financial charges | 65/66B | €12,017 | €11,211 | -€806 | -6.7% |
| Recurring financial charges | 65 | €12,017 | €11,211 | -€806 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €41,110 | €28,138 | -€12,972 | -31.6% |
| Income taxes | 67/77 | €12,742 | €17,207 | +€4,464 | +35.0% |
| Profit (loss) for the period | 9904 | €28,368 | €10,931 | -€17,436 | -61.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,368 | €10,931 | -€17,436 | -61.5% |
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 11 October 2026 via checked.be.