B44C: what changed
B44C
Largest movements
- Current investments -€15,000
no longer reported in 2025 (was €15,000)
- Tangible fixed assets -€12,251
down €12,251 (-72.0%), from €17,012 to €4,761
of which Furniture and vehicles: -€11,139
- Stocks and contracts +€10,480
up €10,480 (+15.7%), from €66,732 to €77,212
- Cash +€8,976
up €8,976 (+25.6%), from €35,107 to €44,083
mainly Net result for the year (+€76,979) and Other debts (+€43,945)
- Other debts +€43,945
up €43,945 (+120%), from €36,540 to €80,485
- Reserves -€43,021
down €43,021 (-56.9%), from €75,545 to €32,524
- Tax, wage and social debts -€4,020
down €4,020 (-18.8%), from €21,334 to €17,314
of which Taxes: -€4,020
- Accrued charges and deferred income -€3,092
down €3,092 (-60.0%), from €5,153 to €2,060
- Gross operating margin +€5,849
up €5,849 (+5.4%), from €108,926 to €114,775
- Financial charges -€3,102
down €3,102 (-61.2%), from €5,068 to €1,966
- Taxes +€1,468
up €1,468 (+8.0%), from €18,330 to €19,798
- Financial income -€1,262
no longer reported in 2025 (was €1,262)
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 | €161,854 | €154,620 | -€7,233 | -4.5% |
| Fixed assets | 21/28 | €17,012 | €4,761 | -€12,251 | -72.0% |
| Tangible fixed assets | 22/27 | €17,012 | €4,761 | -€12,251 | -72.0% |
| Land and buildings | 22 | €1,219 | €107 | -€1,112 | -91.2% |
| Furniture and vehicles | 24 | €15,793 | €4,654 | -€11,139 | -70.5% |
| Current assets | 29/58 | €144,842 | €149,859 | +€5,018 | +3.5% |
| Stocks and contracts in progress | 3 | €66,732 | €77,212 | +€10,480 | +15.7% |
| Stocks | 30/36 | €66,732 | €77,212 | +€10,480 | +15.7% |
| Amounts receivable within one year | 40/41 | €23,674 | €23,125 | -€549 | -2.3% |
| Trade receivables | 40 | €23,674 | €23,125 | -€549 | -2.3% |
| Current investments | 50/53 | €15,000 | - | -€15,000 | |
| Cash at bank and in hand | 54/58 | €35,107 | €44,083 | +€8,976 | +25.6% |
| Deferred charges and accrued income | 490/1 | €4,328 | €5,439 | +€1,111 | +25.7% |
| Total equity and liabilities | 10/49 | €161,854 | €154,620 | -€7,233 | -4.5% |
| Equity | 10/15 | €94,145 | €51,124 | -€43,021 | -45.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €75,545 | €32,524 | -€43,021 | -56.9% |
| Distributable reserves | 133 | €75,545 | €32,524 | -€43,021 | -56.9% |
| Amounts payable | 17/49 | €67,709 | €103,496 | +€35,787 | +52.9% |
| Amounts payable within one year | 42/48 | €62,556 | €101,436 | +€38,880 | +62.2% |
| Trade debts | 44 | €4,683 | €3,637 | -€1,046 | -22.3% |
| Suppliers | 440/4 | €4,683 | €3,637 | -€1,046 | -22.3% |
| Taxes, remuneration and social security | 45 | €21,334 | €17,314 | -€4,020 | -18.8% |
| Taxes | 450/3 | €18,009 | €13,989 | -€4,020 | -22.3% |
| Remuneration and social security | 454/9 | €3,325 | €3,325 | = | 0.0% |
| Other amounts payable | 47/48 | €36,540 | €80,485 | +€43,945 | +120% |
| Accrued charges and deferred income | 492/3 | €5,153 | €2,060 | -€3,092 | -60.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,720 | €15,044 | +€323 | +2.2% |
| Other operating charges | 640/8 | €1,262 | €988 | -€274 | -21.7% |
| Gross operating margin | 9900 | €108,926 | €114,775 | +€5,849 | +5.4% |
| Operating profit (loss) | 9901 | €92,943 | €98,743 | +€5,800 | +6.2% |
| Financial income | 75/76B | €1,262 | - | -€1,262 | |
| Recurring financial income | 75 | €1,262 | - | -€1,262 | |
| Financial charges | 65/66B | €5,068 | €1,966 | -€3,102 | -61.2% |
| Recurring financial charges | 65 | €5,068 | €1,966 | -€3,102 | -61.2% |
| Profit (loss) for the period before taxes | 9903 | €89,137 | €96,778 | +€7,640 | +8.6% |
| Income taxes | 67/77 | €18,330 | €19,798 | +€1,468 | +8.0% |
| Profit (loss) for the period | 9904 | €70,807 | €76,979 | +€6,172 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €70,807 | €76,979 | +€6,172 | +8.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.