A22: 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.
A22
Largest movements
- Current investments +€114,713
new in 2025: €114,713
- Cash -€92,350
down €92,350 (-60.8%), from €151,945 to €59,594
mainly Contributions, distributions and other (-€281,300) and Current investments (-€114,713)
- Receivables within one year +€39,230
up €39,230 (+27.8%), from €141,098 to €180,328
of which Trade receivables: +€25,889
- Tangible fixed assets -€7,735
down €7,735 (-28.0%), from €27,643 to €19,908
- Other debts +€234,834
up €234,834 (+5,857%), from €4,009 to €238,843
- Profit (loss) carried forward -€219,895
down €219,895 (-97.6%), from €225,416 to €5,521
- Tax, wage and social debts +€34,258
up €34,258 (+48.0%), from €71,342 to €105,600
of which Taxes: +€27,661
- Trade debts +€14,013
up €14,013 (+75.4%), from €18,575 to €32,588
- Debts after one year -€10,438
down €10,438 (-59.3%), from €17,617 to €7,179
- Staff costs +€32,234
up €32,234 (+140%), from €23,087 to €55,321
- Gross operating margin -€10,261
down €10,261 (-6.8%), from €151,181 to €140,920
- Taxes -€8,413
down €8,413 (-27.9%), from €30,208 to €21,795
- Depreciation +€4,438
up €4,438 (+135%), from €3,297 to €7,735
- Financial income +€4,217
up €4,217 (+123%), from €3,432 to €7,649
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 | €349,514 | €402,669 | +€53,155 | +15.2% |
| Fixed assets | 21/28 | €36,893 | €28,158 | -€8,735 | -23.7% |
| Tangible fixed assets | 22/27 | €27,643 | €19,908 | -€7,735 | -28.0% |
| Furniture and vehicles | 24 | €27,643 | €19,908 | -€7,735 | -28.0% |
| Financial fixed assets | 28 | €9,250 | €8,250 | -€1,000 | -10.8% |
| Current assets | 29/58 | €312,621 | €374,511 | +€61,890 | +19.8% |
| Amounts receivable within one year | 40/41 | €141,098 | €180,328 | +€39,230 | +27.8% |
| Trade receivables | 40 | €141,098 | €166,987 | +€25,889 | +18.3% |
| Other amounts receivable | 41 | - | €13,341 | +€13,341 | |
| Current investments | 50/53 | - | €114,713 | +€114,713 | |
| Cash at bank and in hand | 54/58 | €151,945 | €59,594 | -€92,350 | -60.8% |
| Deferred charges and accrued income | 490/1 | €19,578 | €19,876 | +€298 | +1.5% |
| Total equity and liabilities | 10/49 | €349,514 | €402,669 | +€53,155 | +15.2% |
| Equity | 10/15 | €227,916 | €8,021 | -€219,895 | -96.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €225,416 | €5,521 | -€219,895 | -97.6% |
| Amounts payable | 17/49 | €121,598 | €394,648 | +€273,050 | +225% |
| Amounts payable after more than one year | 17 | €17,617 | €7,179 | -€10,438 | -59.3% |
| Financial debts | 170/4 | €17,617 | €7,179 | -€10,438 | -59.3% |
| Amounts payable within one year | 42/48 | €103,981 | €387,469 | +€283,488 | +273% |
| Current portion of amounts payable after more than one year | 42 | €10,054 | €10,438 | +€384 | +3.8% |
| Trade debts | 44 | €18,575 | €32,588 | +€14,013 | +75.4% |
| Suppliers | 440/4 | €18,575 | €32,588 | +€14,013 | +75.4% |
| Taxes, remuneration and social security | 45 | €71,342 | €105,600 | +€34,258 | +48.0% |
| Taxes | 450/3 | €64,702 | €92,362 | +€27,661 | +42.8% |
| Remuneration and social security | 454/9 | €6,640 | €13,237 | +€6,597 | +99.3% |
| Other amounts payable | 47/48 | €4,009 | €238,843 | +€234,834 | +5,857% |
| Remuneration, social security and pensions | 62 | €23,087 | €55,321 | +€32,234 | +140% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,297 | €7,735 | +€4,438 | +135% |
| Other operating charges | 640/8 | €569 | €785 | +€216 | +37.9% |
| Gross operating margin | 9900 | €151,181 | €140,920 | -€10,261 | -6.8% |
| Operating profit (loss) | 9901 | €124,228 | €77,079 | -€47,148 | -38.0% |
| Financial income | 75/76B | €3,432 | €7,649 | +€4,217 | +123% |
| Recurring financial income | 75 | €3,432 | €7,649 | +€4,217 | +123% |
| Financial charges | 65/66B | €2,184 | €1,529 | -€656 | -30.0% |
| Recurring financial charges | 65 | €2,184 | €1,529 | -€656 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €125,475 | €83,200 | -€42,275 | -33.7% |
| Income taxes | 67/77 | €30,208 | €21,795 | -€8,413 | -27.9% |
| Profit (loss) for the period | 9904 | €95,267 | €61,405 | -€33,862 | -35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €95,267 | €61,405 | -€33,862 | -35.5% |
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 1 November 2026 via checked.be.