LEVELS: what changed
LEVELS
Largest movements
- Tangible fixed assets -€31,489
down €31,489 (-8.7%), from €362,183 to €330,694
of which Land and buildings: -€20,859
- Cash +€29,381
up €29,381 (+54.4%), from €53,965 to €83,346
mainly Net result for the year (+€568,881) and Other debts (+€47,240)
- Receivables within one year -€23,377
down €23,377 (-98.3%), from €23,780 to €403
of which Other amounts receivable: -€23,377
- Current investments +€18,000
new in 2025: €18,000
- Other debts +€47,240
up €47,240 (+303%), from €15,609 to €62,849
- Profit (loss) carried forward -€31,119
down €31,119 (-2.7%), from €1.2m to €1.1m
- Debts after one year -€23,478
down €23,478 (-7.9%), from €298,175 to €274,697
- Financial income +€275,041
up €275,041 (+125%), from €220,213 to €495,254
- Gross operating margin +€1,428
up €1,428 (+1.0%), from €139,279 to €140,707
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 | €1,506,187 | €1,498,576 | -€7,611 | -0.5% |
| Fixed assets | 21/28 | €1,427,183 | €1,395,694 | -€31,489 | -2.2% |
| Tangible fixed assets | 22/27 | €362,183 | €330,694 | -€31,489 | -8.7% |
| Land and buildings | 22 | €320,771 | €299,912 | -€20,859 | -6.5% |
| Furniture and vehicles | 24 | €41,412 | €30,782 | -€10,630 | -25.7% |
| Financial fixed assets | 28 | €1,065,000 | €1,065,000 | = | 0.0% |
| Current assets | 29/58 | €79,004 | €102,882 | +€23,878 | +30.2% |
| Amounts receivable within one year | 40/41 | €23,780 | €403 | -€23,377 | -98.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €23,780 | €403 | -€23,377 | -98.3% |
| Current investments | 50/53 | - | €18,000 | +€18,000 | |
| Cash at bank and in hand | 54/58 | €53,965 | €83,346 | +€29,381 | +54.4% |
| Deferred charges and accrued income | 490/1 | €1,260 | €1,134 | -€126 | -10.0% |
| Total equity and liabilities | 10/49 | €1,506,187 | €1,498,576 | -€7,611 | -0.5% |
| Equity | 10/15 | €1,165,774 | €1,134,654 | -€31,119 | -2.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,163,774 | €1,132,654 | -€31,119 | -2.7% |
| Amounts payable | 17/49 | €340,413 | €363,922 | +€23,509 | +6.9% |
| Amounts payable after more than one year | 17 | €298,175 | €274,697 | -€23,478 | -7.9% |
| Financial debts | 170/4 | €298,175 | €274,697 | -€23,478 | -7.9% |
| Amounts payable within one year | 42/48 | €42,238 | €89,225 | +€46,987 | +111% |
| Current portion of amounts payable after more than one year | 42 | €23,012 | €23,478 | +€466 | +2.0% |
| Trade debts | 44 | €3,618 | €2,544 | -€1,074 | -29.7% |
| Suppliers | 440/4 | €3,618 | €2,544 | -€1,074 | -29.7% |
| Taxes, remuneration and social security | 45 | €0 | €355 | +€355 | |
| Taxes | 450/3 | €0 | €355 | +€355 | |
| Other amounts payable | 47/48 | €15,609 | €62,849 | +€47,240 | +303% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,489 | €31,489 | = | 0.0% |
| Other operating charges | 640/8 | €2,673 | €1,755 | -€918 | -34.3% |
| Gross operating margin | 9900 | €139,279 | €140,707 | +€1,428 | +1.0% |
| Operating profit (loss) | 9901 | €105,117 | €107,463 | +€2,346 | +2.2% |
| Financial income | 75/76B | €220,213 | €495,254 | +€275,041 | +125% |
| Recurring financial income | 75 | €220,213 | €495,254 | +€275,041 | +125% |
| Financial charges | 65/66B | €7,076 | €6,578 | -€499 | -7.0% |
| Recurring financial charges | 65 | €7,076 | €6,578 | -€499 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €318,254 | €596,140 | +€277,886 | +87.3% |
| Income taxes | 67/77 | €26,474 | €27,259 | +€785 | +3.0% |
| Profit (loss) for the period | 9904 | €291,779 | €568,881 | +€277,101 | +95.0% |
| Profit (loss) for the period to be appropriated | 9905 | €291,779 | €568,881 | +€277,101 | +95.0% |
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 4 November 2026 via checked.be.