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.
What changed
OBJECTIVE INTERNATIONAL
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€128,521
2024 · -€273,122+€144,601
Equity
€7.2m
2024 · €7.4m-€128,521
Cash
€119,735
2024 · €59,200+€60,534
Balance sheet total
€16.2m
2024 · €13.0m+€3.2m
Largest movements
Assets
- Receivables within one year +€3.3m
up €3.3m (+61.7%), from €5.3m to €8.6m
of which Trade receivables: +€2.0m
Equity and liabilities
- Other debts +€2.0m
up €2.0m (+48.0%), from €4.2m to €6.2m
- Trade debts +€963,812
up €963,812 (+736.2%), from €130,926 to €1.1m
- Tax, wage and social debts +€525,691
up €525,691 (+69.2%), from €760,102 to €1.3m
of which Taxes: +€531,305
Income statement
- Financial income +€70,480
up €70,480 (+95.8%), from €73,553 to €144,033
- Taxes -€34,455
down €34,455 (-95.2%), from €36,203 to €1,749
of which Taxes: -€34,455
- Turnover -€31,469
down €31,469 (-2.9%), from €1.1m to €1.1m
- Services and other goods +€31,042
up €31,042 (+9.9%), from €312,411 to €343,453
- Staff costs -€20,166
down €20,166 (-2.4%), from €840,372 to €820,206
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.
Result 2024
-€273,122
Turnover
-€31,469
Other operating income
+€7,187
Services and other goods
-€31,042
Staff costs
+€20,166
Depreciation
+€6,925
Other operating charges
-€2,254
Other operating items
+€59,784
Financial income
+€70,480
Financial charges
+€10,368
Taxes
+€34,455
Result 2025
-€128,521
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.
From operations
+€160,428
Investment
-€3,508
Financing
-€96,386
Cash 2024
€59,200
From operations (derived)
+€160,428
Net result for the year
-€128,521
Depreciation
+€130,987
Receivables within one year
-€3.3m
Deferred charges and accrued income
-€10,123
Trade debts
+€963,812
Tax, wage and social debts
+€525,691
Other debts
+€2.0m
Accrued charges and deferred income
-€48,253
Investment (derived)
-€3,508
Investment in fixed assets (net)
-€3,508
Financing
-€96,386
Debts after one year
-€61,000
Current portion of long-term debt
-€35,386
Cash 2025
€119,735
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,990,940 | €16,211,028 | +€3.2m | +24.8% |
| Fixed assets | 21/28 | €7,589,604 | €7,462,124 | -€127,480 | -1.7% |
| Intangible fixed assets | 21 | €5,913 | €0 | -€5,913 | -100.0% |
| Tangible fixed assets | 22/27 | €833,650 | €712,082 | -€121,568 | -14.6% |
| Land and buildings | 22 | €127,999 | €110,258 | -€17,741 | -13.9% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €193,741 | €161,293 | -€32,448 | -16.7% |
| Leasing and similar rights | 25 | €511,910 | €440,530 | -€71,379 | -13.9% |
| Financial fixed assets | 28 | €6,750,041 | €6,750,043 | +€2 | 0.0% |
| Affiliated companies | 280/1 | €6,750,003 | €6,750,003 | = | 0.0% |
| Participating interests | 280 | €4,900,003 | €4,900,003 | = | 0.0% |
| Amounts receivable | 281 | €1,850,000 | €1,850,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €38 | €40 | +€2 | +4.8% |
| Amounts receivable and cash guarantees | 285/8 | €38 | €40 | +€2 | +4.8% |
| Current assets | 29/58 | €5,401,336 | €8,748,904 | +€3.3m | +62.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €5,309,764 | €8,586,675 | +€3.3m | +61.7% |
| Trade receivables | 40 | €5,309,764 | €7,340,845 | +€2.0m | +38.3% |
| Other amounts receivable | 41 | - | €1,245,830 | +€1.2m | |
| Cash at bank and in hand | 54/58 | €59,200 | €119,735 | +€60,534 | +102.3% |
| Deferred charges and accrued income | 490/1 | €32,371 | €42,495 | +€10,123 | +31.3% |
| Total equity and liabilities | 10/49 | €12,990,940 | €16,211,028 | +€3.2m | +24.8% |
| Equity | 10/15 | €7,350,802 | €7,222,280 | -€128,521 | -1.7% |
| Contributions | 10/11 | €3,620,000 | €3,620,000 | = | 0.0% |
| Capital | 10 | €3,620,000 | €3,620,000 | = | 0.0% |
| Issued capital | 100 | €3,620,000 | €3,620,000 | = | 0.0% |
| Reserves | 13 | €3,671,200 | €3,671,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €362,000 | €362,000 | = | 0.0% |
| Legal reserve | 130 | €362,000 | €362,000 | = | 0.0% |
| Distributable reserves | 133 | €3,309,200 | €3,309,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,602 | -€68,920 | -€128,521 | |
| Amounts payable | 17/49 | €5,640,138 | €8,988,748 | +€3.3m | +59.4% |
| Amounts payable after more than one year | 17 | €426,438 | €365,437 | -€61,000 | -14.3% |
| Financial debts | 170/4 | €426,438 | €365,437 | -€61,000 | -14.3% |
| Leasing and similar obligations | 172 | €395,817 | €334,817 | -€61,000 | -15.4% |
| Credit institutions | 173 | €30,620 | €30,620 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,165,447 | €8,623,311 | +€3.5m | +66.9% |
| Current portion of amounts payable after more than one year | 42 | €96,386 | €61,000 | -€35,386 | -36.7% |
| Trade debts | 44 | €130,926 | €1,094,738 | +€963,812 | +736.2% |
| Suppliers | 440/4 | €130,926 | €1,094,738 | +€963,812 | +736.2% |
| Taxes, remuneration and social security | 45 | €760,102 | €1,285,793 | +€525,691 | +69.2% |
| Taxes | 450/3 | €653,363 | €1,184,668 | +€531,305 | +81.3% |
| Remuneration and social security | 454/9 | €106,739 | €101,124 | -€5,614 | -5.3% |
| Other amounts payable | 47/48 | €4,178,034 | €6,181,780 | +€2.0m | +48.0% |
| Accrued charges and deferred income | 492/3 | €48,253 | €0 | -€48,253 | -100.0% |
| Operating income | 70/76A | €1,141,640 | €1,177,142 | +€35,502 | +3.1% |
| Turnover | 70 | €1,089,591 | €1,058,122 | -€31,469 | -2.9% |
| Other operating income | 74 | €52,049 | €59,236 | +€7,187 | +13.8% |
| Non-recurring operating income | 76A | - | €59,784 | +€59,784 | |
| Operating charges | 60/66A | €1,335,437 | €1,341,641 | +€6,205 | +0.5% |
| Services and other goods | 61 | €312,411 | €343,453 | +€31,042 | +9.9% |
| Remuneration, social security and pensions | 62 | €840,372 | €820,206 | -€20,166 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,912 | €130,987 | -€6,925 | -5.0% |
| Other operating charges | 640/8 | €44,741 | €46,995 | +€2,254 | +5.0% |
| Operating profit (loss) | 9901 | -€193,797 | -€164,499 | +€29,298 | +15.1% |
| Financial income | 75/76B | €73,553 | €144,033 | +€70,480 | +95.8% |
| Recurring financial income | 75 | €73,553 | €144,033 | +€70,480 | +95.8% |
| Income from current assets | 751 | €68,569 | €144,001 | +€75,431 | +110.0% |
| Other financial income | 752/9 | €4,983 | €32 | -€4,951 | -99.4% |
| Financial charges | 65/66B | €116,675 | €106,306 | -€10,368 | -8.9% |
| Recurring financial charges | 65 | €116,675 | €106,306 | -€10,368 | -8.9% |
| Debt charges | 650 | €113,452 | €102,651 | -€10,801 | -9.5% |
| Other financial charges | 652/9 | €3,223 | €3,655 | +€432 | +13.4% |
| Profit (loss) for the period before taxes | 9903 | -€236,919 | -€126,773 | +€110,146 | +46.5% |
| Income taxes | 67/77 | €36,203 | €1,749 | -€34,455 | -95.2% |
| Taxes | 670/3 | €36,203 | €1,749 | -€34,455 | -95.2% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€273,122 | -€128,521 | +€144,601 | +52.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€273,122 | -€128,521 | +€144,601 | +52.9% |
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.