What changed?
Two fiscal 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.
Robert Plessing
Largest movements
- Tangible fixed assets -€19,503
down €19,503 (-28.4%), from €68,703 to €49,199
- Cash -€5,760
down €5,760 (-27.8%), from €20,696 to €14,936
mainly Other debts (-€49,541) and Contributions, distributions and other (-€45,000)
- Receivables within one year +€3,243
up €3,243 (+4.8%), from €67,493 to €70,737
of which Other amounts receivable: +€6,108
- Other debts -€49,541
down €49,541 (-33.5%), from €147,758 to €98,216
- Reserves +€31,154
up €31,154, from €0 to €31,154
- Accrued charges and deferred income -€3,287
down €3,287 (-100.0%), from €3,287 to €0
- Gross operating margin -€4,423
down €4,423 (-3.6%), from €124,071 to €119,648
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.
Cash bridge derived
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 | €158,401 | €136,089 | -€22,311 | -14.1% |
| Fixed assets | 21/28 | €68,703 | €49,199 | -€19,503 | -28.4% |
| Tangible fixed assets | 22/27 | €68,703 | €49,199 | -€19,503 | -28.4% |
| Furniture and vehicles | 24 | €68,703 | €49,199 | -€19,503 | -28.4% |
| Current assets | 29/58 | €89,698 | €86,890 | -€2,808 | -3.1% |
| Amounts receivable within one year | 40/41 | €67,493 | €70,737 | +€3,243 | +4.8% |
| Trade receivables | 40 | €61,748 | €58,883 | -€2,865 | -4.6% |
| Other amounts receivable | 41 | €5,745 | €11,853 | +€6,108 | +106.3% |
| Cash at bank and in hand | 54/58 | €20,696 | €14,936 | -€5,760 | -27.8% |
| Deferred charges and accrued income | 490/1 | €1,509 | €1,217 | -€292 | -19.3% |
| Total equity and liabilities | 10/49 | €158,401 | €136,089 | -€22,311 | -14.1% |
| Equity | 10/15 | €3,500 | €34,654 | +€31,154 | +890.1% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €0 | €31,154 | +€31,154 | |
| Distributable reserves | 133 | €0 | €31,154 | +€31,154 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €154,901 | €101,435 | -€53,466 | -34.5% |
| Amounts payable within one year | 42/48 | €151,613 | €101,435 | -€50,178 | -33.1% |
| Financial debts | 43 | - | €4 | +€4 | |
| Credit institutions | 430/8 | - | €4 | +€4 | |
| Trade debts | 44 | €750 | €36 | -€715 | -95.2% |
| Suppliers | 440/4 | €750 | €36 | -€715 | -95.2% |
| Taxes, remuneration and social security | 45 | €3,105 | €3,179 | +€74 | +2.4% |
| Taxes | 450/3 | €3,105 | €3,179 | +€74 | +2.4% |
| Other amounts payable | 47/48 | €147,758 | €98,216 | -€49,541 | -33.5% |
| Accrued charges and deferred income | 492/3 | €3,287 | €0 | -€3,287 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,328 | €20,825 | -€503 | -2.4% |
| Other operating charges | 640/8 | €518 | €954 | +€436 | +84.1% |
| Gross operating margin | 9900 | €124,071 | €119,648 | -€4,423 | -3.6% |
| Operating profit (loss) | 9901 | €102,225 | €97,869 | -€4,356 | -4.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €117 | €70 | -€47 | -39.8% |
| Recurring financial charges | 65 | €117 | €70 | -€47 | -39.8% |
| Profit (loss) for the period before taxes | 9903 | €102,108 | €97,798 | -€4,310 | -4.2% |
| Income taxes | 67/77 | €22,503 | €21,644 | -€859 | -3.8% |
| Profit (loss) for the period | 9904 | €79,605 | €76,154 | -€3,451 | -4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €79,605 | €76,154 | -€3,451 | -4.3% |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.