ZONE 13: 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.
ZONE 13
Largest movements
- Receivables within one year +€28,970
up €28,970 (+161%), from €18,044 to €47,014
of which Other amounts receivable: +€21,981
- Current investments +€17,995
up €17,995 (+40.0%), from €44,990 to €62,985
- Deferred charges and accrued income -€16,580
down €16,580 (-95.8%), from €17,305 to €726
- Cash +€16,058
up €16,058 (+45.0%), from €35,658 to €51,716
mainly Net result for the year (+€46,889) and Other debts (+€30,315)
- Tangible fixed assets -€2,734
down €2,734 (-35.7%), from €7,666 to €4,932
of which Plant, machinery and equipment: -€1,576
- Other debts +€30,315
up €30,315 (+293%), from €10,356 to €40,671
- Tax, wage and social debts +€15,409
up €15,409 (+590%), from €2,612 to €18,021
- Current portion of long-term debt -€5,199
down €5,199 (-100%), from €5,199 to €0
- Reserves +€3,181
up €3,181 (+2.2%), from €143,067 to €146,248
- Gross operating margin +€11,978
up €11,978 (+19.8%), from €60,635 to €72,612
- Taxes +€3,332
up €3,332 (+20.6%), from €16,200 to €19,532
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 | €141,763 | €185,473 | +€43,709 | +30.8% |
| Fixed assets | 21/28 | €10,066 | €7,332 | -€2,734 | -27.2% |
| Tangible fixed assets | 22/27 | €7,666 | €4,932 | -€2,734 | -35.7% |
| Plant, machinery and equipment | 23 | €5,370 | €3,795 | -€1,576 | -29.3% |
| Furniture and vehicles | 24 | €2,296 | €1,137 | -€1,158 | -50.5% |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €131,697 | €178,141 | +€46,443 | +35.3% |
| Amounts receivable after more than one year | 29 | €15,700 | €15,700 | = | 0.0% |
| Other amounts receivable | 291 | €15,700 | €15,700 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €18,044 | €47,014 | +€28,970 | +161% |
| Trade receivables | 40 | €17,999 | €24,987 | +€6,989 | +38.8% |
| Other amounts receivable | 41 | €45 | €22,026 | +€21,981 | +48,438% |
| Current investments | 50/53 | €44,990 | €62,985 | +€17,995 | +40.0% |
| Cash at bank and in hand | 54/58 | €35,658 | €51,716 | +€16,058 | +45.0% |
| Deferred charges and accrued income | 490/1 | €17,305 | €726 | -€16,580 | -95.8% |
| Total equity and liabilities | 10/49 | €141,763 | €185,473 | +€43,709 | +30.8% |
| Equity | 10/15 | €123,176 | €126,357 | +€3,181 | +2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €143,067 | €146,248 | +€3,181 | +2.2% |
| Distributable reserves | 133 | €143,067 | €146,248 | +€3,181 | +2.2% |
| Profit (loss) carried forward | 14 | -€38,491 | -€38,491 | = | 0.0% |
| Amounts payable | 17/49 | €18,587 | €59,115 | +€40,528 | +218% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €18,587 | €59,115 | +€40,528 | +218% |
| Current portion of amounts payable after more than one year | 42 | €5,199 | €0 | -€5,199 | -100% |
| Trade debts | 44 | €419 | €423 | +€3 | +0.8% |
| Suppliers | 440/4 | €419 | €423 | +€3 | +0.8% |
| Taxes, remuneration and social security | 45 | €2,612 | €18,021 | +€15,409 | +590% |
| Taxes | 450/3 | €2,612 | €18,021 | +€15,409 | +590% |
| Other amounts payable | 47/48 | €10,356 | €40,671 | +€30,315 | +293% |
| Remuneration, social security and pensions | 62 | €214 | €221 | +€8 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,692 | €4,657 | -€35 | -0.7% |
| Other operating charges | 640/8 | €1,071 | €1,517 | +€446 | +41.6% |
| Gross operating margin | 9900 | €60,635 | €72,612 | +€11,978 | +19.8% |
| Operating profit (loss) | 9901 | €54,658 | €66,217 | +€11,559 | +21.1% |
| Financial income | 75/76B | €423 | €995 | +€572 | +135% |
| Recurring financial income | 75 | €423 | €995 | +€572 | +135% |
| Financial charges | 65/66B | €840 | €791 | -€49 | -5.9% |
| Recurring financial charges | 65 | €840 | €791 | -€49 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €54,241 | €66,421 | +€12,180 | +22.5% |
| Income taxes | 67/77 | €16,200 | €19,532 | +€3,332 | +20.6% |
| Profit (loss) for the period | 9904 | €38,041 | €46,889 | +€8,848 | +23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,041 | €46,889 | +€8,848 | +23.3% |
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 14 October 2026 via checked.be.