OPTIMIZE: what changed
OPTIMIZE
Largest movements
- Receivables within one year -€5,725
down €5,725 (-3.1%), from €181,810 to €176,084
of which Other amounts receivable: -€7,031
- Cash +€4,848
up €4,848 (+15.9%), from €30,412 to €35,260
mainly Net result for the year (+€12,765) and Trade debts (+€11,953)
- Tangible fixed assets -€2,990
down €2,990 (-8.2%), from €36,262 to €33,272
- Other debts -€18,182
down €18,182 (-87.7%), from €20,729 to €2,547
- Reserves +€12,765
up €12,765 (+8.4%), from €152,775 to €165,540
of which Distributable reserves: +€12,765
- Trade debts +€11,953
up €11,953 (+233%), from €5,124 to €17,077
- Debts after one year -€5,196
down €5,196 (-53.1%), from €9,784 to €4,588
- Depreciation -€4,779
down €4,779 (-49.6%), from €9,627 to €4,847
- Financial income +€4,436
up €4,436 (+50.4%), from €8,803 to €13,239
of which Non-recurring financial income: +€4,550
- Gross operating margin -€2,170
down €2,170 (-13.2%), from €16,440 to €14,270
- Taxes +€1,584
up €1,584 (+30.0%), from €5,282 to €6,866
- Staff costs +€636
new in 2025: €636
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €248,773 | €246,524 | -€2,248 | -0.9% |
| Fixed assets | 21/28 | €36,262 | €33,272 | -€2,990 | -8.2% |
| Tangible fixed assets | 22/27 | €36,262 | €33,272 | -€2,990 | -8.2% |
| Land and buildings | 22 | €32,635 | €31,154 | -€1,481 | -4.5% |
| Plant, machinery and equipment | 23 | €1,289 | €731 | -€558 | -43.3% |
| Furniture and vehicles | 24 | €2,338 | €1,387 | -€951 | -40.7% |
| Current assets | 29/58 | €212,511 | €213,252 | +€742 | +0.3% |
| Amounts receivable within one year | 40/41 | €181,810 | €176,084 | -€5,725 | -3.1% |
| Trade receivables | 40 | €18,453 | €19,758 | +€1,306 | +7.1% |
| Other amounts receivable | 41 | €163,357 | €156,326 | -€7,031 | -4.3% |
| Cash at bank and in hand | 54/58 | €30,412 | €35,260 | +€4,848 | +15.9% |
| Deferred charges and accrued income | 490/1 | €289 | €1,909 | +€1,619 | +560% |
| Total equity and liabilities | 10/49 | €248,773 | €246,524 | -€2,248 | -0.9% |
| Equity | 10/15 | €189,969 | €202,734 | +€12,765 | +6.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €152,775 | €165,540 | +€12,765 | +8.4% |
| 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 | €11,652 | €11,652 | = | 0.0% |
| Distributable reserves | 133 | €139,263 | €152,028 | +€12,765 | +9.2% |
| Profit (loss) carried forward | 14 | €30,994 | €30,994 | = | 0.0% |
| Amounts payable | 17/49 | €58,803 | €43,790 | -€15,013 | -25.5% |
| Amounts payable after more than one year | 17 | €9,784 | €4,588 | -€5,196 | -53.1% |
| Financial debts | 170/4 | €9,784 | €4,588 | -€5,196 | -53.1% |
| Amounts payable within one year | 42/48 | €49,019 | €39,202 | -€9,818 | -20.0% |
| Current portion of amounts payable after more than one year | 42 | €15,639 | €13,234 | -€2,405 | -15.4% |
| Trade debts | 44 | €5,124 | €17,077 | +€11,953 | +233% |
| Suppliers | 440/4 | €5,124 | €17,077 | +€11,953 | +233% |
| Taxes, remuneration and social security | 45 | €7,528 | €6,343 | -€1,184 | -15.7% |
| Taxes | 450/3 | €5,533 | €3,593 | -€1,939 | -35.0% |
| Remuneration and social security | 454/9 | €1,995 | €2,750 | +€755 | +37.8% |
| Other amounts payable | 47/48 | €20,729 | €2,547 | -€18,182 | -87.7% |
| Remuneration, social security and pensions | 62 | - | €636 | +€636 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,627 | €4,847 | -€4,779 | -49.6% |
| Other operating charges | 640/8 | €561 | €862 | +€300 | +53.5% |
| Gross operating margin | 9900 | €16,440 | €14,270 | -€2,170 | -13.2% |
| Operating profit (loss) | 9901 | €6,252 | €7,925 | +€1,673 | +26.8% |
| Financial income | 75/76B | €8,803 | €13,239 | +€4,436 | +50.4% |
| Recurring financial income | 75 | €8,803 | €8,689 | -€114 | -1.3% |
| Non-recurring financial income | 76B | - | €4,550 | +€4,550 | |
| Financial charges | 65/66B | €1,801 | €1,532 | -€268 | -14.9% |
| Recurring financial charges | 65 | €1,801 | €1,532 | -€268 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €13,254 | €19,631 | +€6,377 | +48.1% |
| Income taxes | 67/77 | €5,282 | €6,866 | +€1,584 | +30.0% |
| Profit (loss) for the period | 9904 | €7,972 | €12,765 | +€4,793 | +60.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,972 | €12,765 | +€4,793 | +60.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 1 July 2024 and 1 July 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.