FULL OPTIONS: 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.
FULL OPTIONS
Largest movements
- Receivables within one year +€406,783
up €406,783 (+16.0%), from €2.5m to €3.0m
of which Other amounts receivable: +€407,025
- Cash +€87,713
up €87,713 (+19.0%), from €461,189 to €548,902
mainly Net result for the year (+€740,035) and Tax, wage and social debts (+€24,545)
- Profit (loss) carried forward +€373,765
up €373,765 (+34.4%), from €1.1m to €1.5m
- Reserves +€366,270
up €366,270 (+8.9%), from €4.1m to €4.5m
of which Tax-exempt reserves: +€366,270
- Debts after one year -€238,404
down €238,404 (-41.7%), from €571,387 to €332,984
- Financial income -€727,847
down €727,847 (-99.0%), from €735,049 to €7,203
- Financial charges -€24,966
down €24,966 (-52.5%), from €47,581 to €22,615
- Gross operating margin +€16,615
up €16,615 (+1.7%), from €984,784 to €1.0m
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 | €6,225,343 | €6,736,218 | +€510,876 | +8.2% |
| Fixed assets | 21/28 | €3,214,818 | €3,216,141 | +€1,323 | 0.0% |
| Tangible fixed assets | 22/27 | €13,218 | €14,541 | +€1,323 | +10.0% |
| Land and buildings | 22 | €727 | €307 | -€420 | -57.8% |
| Furniture and vehicles | 24 | €12,491 | €14,234 | +€1,743 | +14.0% |
| Financial fixed assets | 28 | €3,201,600 | €3,201,600 | = | 0.0% |
| Current assets | 29/58 | €3,010,525 | €3,520,077 | +€509,553 | +16.9% |
| Amounts receivable within one year | 40/41 | €2,549,336 | €2,956,120 | +€406,783 | +16.0% |
| Trade receivables | 40 | €496,342 | €496,100 | -€242 | 0.0% |
| Other amounts receivable | 41 | €2,052,994 | €2,460,020 | +€407,025 | +19.8% |
| Current investments | 50/53 | - | €15,000 | +€15,000 | |
| Cash at bank and in hand | 54/58 | €461,189 | €548,902 | +€87,713 | +19.0% |
| Deferred charges and accrued income | 490/1 | - | €56 | +€56 | |
| Total equity and liabilities | 10/49 | €6,225,343 | €6,736,218 | +€510,876 | +8.2% |
| Equity | 10/15 | €5,227,317 | €5,967,352 | +€740,035 | +14.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €4,119,874 | €4,486,144 | +€366,270 | +8.9% |
| Tax-exempt reserves | 132 | €336,800 | €703,070 | +€366,270 | +109% |
| Distributable reserves | 133 | €3,783,074 | €3,783,074 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,087,443 | €1,461,209 | +€373,765 | +34.4% |
| Amounts payable | 17/49 | €998,026 | €768,866 | -€229,160 | -23.0% |
| Amounts payable after more than one year | 17 | €571,387 | €332,984 | -€238,404 | -41.7% |
| Financial debts | 170/4 | €571,387 | €332,984 | -€238,404 | -41.7% |
| Amounts payable within one year | 42/48 | €383,992 | €417,123 | +€33,131 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €237,344 | €238,404 | +€1,059 | +0.4% |
| Trade debts | 44 | €1,148 | €1,470 | +€322 | +28.0% |
| Suppliers | 440/4 | €1,148 | €1,470 | +€322 | +28.0% |
| Taxes, remuneration and social security | 45 | €77,126 | €101,671 | +€24,545 | +31.8% |
| Taxes | 450/3 | €77,126 | €101,037 | +€23,911 | +31.0% |
| Remuneration and social security | 454/9 | - | €634 | +€634 | |
| Other amounts payable | 47/48 | €68,373 | €75,578 | +€7,205 | +10.5% |
| Accrued charges and deferred income | 492/3 | €42,646 | €18,759 | -€23,888 | -56.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,913 | €4,338 | -€575 | -11.7% |
| Other operating charges | 640/8 | €118 | €563 | +€445 | +377% |
| Gross operating margin | 9900 | €984,784 | €1,001,399 | +€16,615 | +1.7% |
| Operating profit (loss) | 9901 | €979,753 | €996,498 | +€16,745 | +1.7% |
| Financial income | 75/76B | €735,049 | €7,203 | -€727,847 | -99.0% |
| Recurring financial income | 75 | €735,049 | €7,203 | -€727,847 | -99.0% |
| Financial charges | 65/66B | €47,581 | €22,615 | -€24,966 | -52.5% |
| Recurring financial charges | 65 | €47,581 | €22,615 | -€24,966 | -52.5% |
| Profit (loss) for the period before taxes | 9903 | €1,667,222 | €981,086 | -€686,136 | -41.2% |
| Income taxes | 67/77 | €242,978 | €241,050 | -€1,928 | -0.8% |
| Profit (loss) for the period | 9904 | €1,424,243 | €740,035 | -€684,208 | -48.0% |
| Transfer to tax-exempt reserves | 689 | €336,800 | €366,270 | +€29,470 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,087,443 | €373,765 | -€713,678 | -65.6% |
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 29 October 2026 via checked.be.