MODULE-A: 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.
MODULE-A
Largest movements
- Cash -€50,069
down €50,069 (-60.7%), from €82,505 to €32,436
mainly Current investments (-€35,000) and Other debts (-€34,394)
- Tangible fixed assets -€36,517
down €36,517 (-6.1%), from €593,984 to €557,467
of which Land and buildings: -€35,888
- Current investments +€35,000
new in 2025: €35,000
- Other debts -€34,394
down €34,394 (-18.4%), from €186,925 to €152,532
- Reserves -€9,759
down €9,759 (-3.7%), from €266,621 to €256,862
of which Tax-exempt reserves: -€17,463
- Provisions -€8,995
down €8,995 (-17.0%), from €52,853 to €43,858
- Gross operating margin -€5,475
down €5,475 (-7.4%), from €73,967 to €68,492
- Financial charges -€2,719
down €2,719 (-19.8%), from €13,758 to €11,039
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 | €684,652 | €633,172 | -€51,481 | -7.5% |
| Fixed assets | 21/28 | €601,618 | €565,493 | -€36,125 | -6.0% |
| Tangible fixed assets | 22/27 | €593,984 | €557,467 | -€36,517 | -6.1% |
| Land and buildings | 22 | €592,688 | €556,800 | -€35,888 | -6.1% |
| Furniture and vehicles | 24 | €1,296 | €667 | -€629 | -48.5% |
| Financial fixed assets | 28 | €7,634 | €8,026 | +€392 | +5.1% |
| Current assets | 29/58 | €83,034 | €67,679 | -€15,356 | -18.5% |
| Current investments | 50/53 | - | €35,000 | +€35,000 | |
| Cash at bank and in hand | 54/58 | €82,505 | €32,436 | -€50,069 | -60.7% |
| Deferred charges and accrued income | 490/1 | €529 | €242 | -€287 | -54.3% |
| Total equity and liabilities | 10/49 | €684,652 | €633,172 | -€51,481 | -7.5% |
| Equity | 10/15 | €439,122 | €429,363 | -€9,759 | -2.2% |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Reserves | 13 | €266,621 | €256,862 | -€9,759 | -3.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €102,589 | €85,126 | -€17,463 | -17.0% |
| Distributable reserves | 133 | €162,173 | €169,876 | +€7,704 | +4.8% |
| Profit (loss) carried forward | 14 | €165,064 | €165,064 | = | 0.0% |
| Provisions and deferred taxes | 16 | €52,853 | €43,858 | -€8,995 | -17.0% |
| Deferred taxes | 168 | €52,853 | €43,858 | -€8,995 | -17.0% |
| Amounts payable | 17/49 | €192,677 | €159,950 | -€32,726 | -17.0% |
| Amounts payable within one year | 42/48 | €192,677 | €159,950 | -€32,726 | -17.0% |
| Trade debts | 44 | €4,507 | €6,770 | +€2,263 | +50.2% |
| Suppliers | 440/4 | €4,507 | €6,770 | +€2,263 | +50.2% |
| Taxes, remuneration and social security | 45 | €1,244 | €649 | -€595 | -47.9% |
| Taxes | 450/3 | €1,244 | €649 | -€595 | -47.9% |
| Other amounts payable | 47/48 | €186,925 | €152,532 | -€34,394 | -18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,387 | €43,745 | +€358 | +0.8% |
| Other operating charges | 640/8 | €6,802 | €7,014 | +€212 | +3.1% |
| Non-recurring operating charges | 66A | €4,443 | - | -€4,443 | |
| Gross operating margin | 9900 | €73,967 | €68,492 | -€5,475 | -7.4% |
| Operating profit (loss) | 9901 | €19,334 | €17,732 | -€1,602 | -8.3% |
| Financial charges | 65/66B | €13,758 | €11,039 | -€2,719 | -19.8% |
| Recurring financial charges | 65 | €13,758 | €11,039 | -€2,719 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €5,576 | €6,693 | +€1,117 | +20.0% |
| Transfer from deferred taxes | 780 | €8,995 | €8,995 | = | 0.0% |
| Income taxes | 67/77 | €11,242 | €10,647 | -€594 | -5.3% |
| Profit (loss) for the period | 9904 | €3,330 | €5,041 | +€1,711 | +51.4% |
| Transfer from tax-exempt reserves | 789 | €17,463 | €17,463 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,792 | €22,504 | +€1,711 | +8.2% |
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 28 October 2026 via checked.be.