R1D2: 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.
R1D2
Largest movements
- Cash -€15,267
down €15,267 (-35.0%), from €43,668 to €28,401
mainly Contributions, distributions and other (-€128,815) and Investment in fixed assets (net) (-€10,397)
- Current investments +€6,254
up €6,254 (+18.8%), from €33,333 to €39,587
- Tangible fixed assets +€4,938
up €4,938 (+19.8%), from €24,898 to €29,836
of which Furniture and vehicles: +€7,386
- Deferred charges and accrued income -€1,743
down €1,743 (-92.5%), from €1,884 to €141
- Profit (loss) carried forward -€86,303
no longer reported in 2025 (was €86,303)
- Other debts +€74,354
up €74,354 (+788%), from €9,437 to €83,791
- Trade debts +€9,068
up €9,068 (+412%), from €2,199 to €11,267
- Current portion of long-term debt -€1,698
no longer reported in 2025 (was €1,698)
- Tax, wage and social debts -€1,375
no longer reported in 2025 (was €1,375)
- Gross operating margin -€12,183
down €12,183 (-16.0%), from €76,007 to €63,823
- Depreciation +€934
up €934 (+20.6%), from €4,525 to €5,459
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 | €121,472 | €115,518 | -€5,954 | -4.9% |
| Fixed assets | 21/28 | €24,898 | €29,836 | +€4,938 | +19.8% |
| Tangible fixed assets | 22/27 | €24,898 | €29,836 | +€4,938 | +19.8% |
| Furniture and vehicles | 24 | €11,734 | €19,120 | +€7,386 | +62.9% |
| Other tangible fixed assets | 26 | €13,164 | €10,717 | -€2,448 | -18.6% |
| Current assets | 29/58 | €96,573 | €85,682 | -€10,892 | -11.3% |
| Amounts receivable within one year | 40/41 | €17,689 | €17,553 | -€136 | -0.8% |
| Trade receivables | 40 | €5,227 | €7,980 | +€2,753 | +52.7% |
| Other amounts receivable | 41 | €12,462 | €9,573 | -€2,888 | -23.2% |
| Current investments | 50/53 | €33,333 | €39,587 | +€6,254 | +18.8% |
| Cash at bank and in hand | 54/58 | €43,668 | €28,401 | -€15,267 | -35.0% |
| Deferred charges and accrued income | 490/1 | €1,884 | €141 | -€1,743 | -92.5% |
| Total equity and liabilities | 10/49 | €121,472 | €115,518 | -€5,954 | -4.9% |
| Equity | 10/15 | €106,763 | €20,460 | -€86,303 | -80.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,303 | - | -€86,303 | |
| Amounts payable | 17/49 | €14,708 | €95,058 | +€80,350 | +546% |
| Amounts payable within one year | 42/48 | €14,708 | €95,058 | +€80,350 | +546% |
| Current portion of amounts payable after more than one year | 42 | €1,698 | - | -€1,698 | |
| Trade debts | 44 | €2,199 | €11,267 | +€9,068 | +412% |
| Suppliers | 440/4 | €2,199 | €11,267 | +€9,068 | +412% |
| Taxes, remuneration and social security | 45 | €1,375 | - | -€1,375 | |
| Taxes | 450/3 | €1,375 | - | -€1,375 | |
| Other amounts payable | 47/48 | €9,437 | €83,791 | +€74,354 | +788% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,525 | €5,459 | +€934 | +20.6% |
| Other operating charges | 640/8 | €1,188 | €1,141 | -€47 | -3.9% |
| Gross operating margin | 9900 | €76,007 | €63,823 | -€12,183 | -16.0% |
| Operating profit (loss) | 9901 | €70,294 | €57,223 | -€13,070 | -18.6% |
| Financial income | 75/76B | €96 | €254 | +€158 | +165% |
| Recurring financial income | 75 | €96 | €254 | +€158 | +165% |
| Financial charges | 65/66B | €374 | €251 | -€122 | -32.8% |
| Recurring financial charges | 65 | €374 | €251 | -€122 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €70,016 | €57,227 | -€12,790 | -18.3% |
| Income taxes | 67/77 | €14,427 | €14,715 | +€288 | +2.0% |
| Profit (loss) for the period | 9904 | €55,589 | €42,512 | -€13,077 | -23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €55,589 | €42,512 | -€13,077 | -23.5% |
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 28 October 2026 via checked.be.