12ten: 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.
12ten
Largest movements
- Current investments +€162,000
up €162,000 (+17.7%), from €915,000 to €1.1m
- Cash +€33,509
up €33,509 (+40.4%), from €82,949 to €116,459
mainly Net result for the year (+€221,251) and Depreciation (+€731)
- Receivables within one year +€16,484
up €16,484 (+67.3%), from €24,477 to €40,962
of which Trade receivables: +€16,491
- Reserves +€221,251
up €221,251 (+22.7%), from €975,659 to €1.2m
- Gross operating margin -€10,399
down €10,399 (-3.4%), from €308,652 to €298,254
- Financial income +€5,219
up €5,219 (+25.8%), from €20,231 to €25,450
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 | €1,033,122 | €1,244,276 | +€211,155 | +20.4% |
| Fixed assets | 21/28 | €9,231 | €8,500 | -€731 | -7.9% |
| Tangible fixed assets | 22/27 | €9,231 | €8,500 | -€731 | -7.9% |
| Furniture and vehicles | 24 | €731 | €0 | -€731 | -100% |
| Other tangible fixed assets | 26 | €8,500 | €8,500 | = | 0.0% |
| Current assets | 29/58 | €1,023,891 | €1,235,776 | +€211,886 | +20.7% |
| Amounts receivable within one year | 40/41 | €24,477 | €40,962 | +€16,484 | +67.3% |
| Trade receivables | 40 | €24,459 | €40,951 | +€16,491 | +67.4% |
| Other amounts receivable | 41 | €18 | €11 | -€7 | -38.9% |
| Current investments | 50/53 | €915,000 | €1,077,000 | +€162,000 | +17.7% |
| Cash at bank and in hand | 54/58 | €82,949 | €116,459 | +€33,509 | +40.4% |
| Deferred charges and accrued income | 490/1 | €1,464 | €1,356 | -€108 | -7.4% |
| Total equity and liabilities | 10/49 | €1,033,122 | €1,244,276 | +€211,155 | +20.4% |
| Equity | 10/15 | €985,659 | €1,206,910 | +€221,251 | +22.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €975,659 | €1,196,910 | +€221,251 | +22.7% |
| Distributable reserves | 133 | €975,659 | €1,196,910 | +€221,251 | +22.7% |
| Amounts payable | 17/49 | €47,462 | €37,366 | -€10,096 | -21.3% |
| Amounts payable within one year | 42/48 | €47,462 | €37,366 | -€10,096 | -21.3% |
| Trade debts | 44 | €299 | €565 | +€266 | +88.8% |
| Suppliers | 440/4 | €299 | €565 | +€266 | +88.8% |
| Taxes, remuneration and social security | 45 | €45,802 | €35,920 | -€9,883 | -21.6% |
| Taxes | 450/3 | €43,152 | €33,270 | -€9,883 | -22.9% |
| Remuneration and social security | 454/9 | €2,650 | €2,650 | = | 0.0% |
| Other amounts payable | 47/48 | €1,361 | €882 | -€479 | -35.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,937 | €731 | -€2,206 | -75.1% |
| Other operating charges | 640/8 | €1,778 | €1,897 | +€119 | +6.7% |
| Gross operating margin | 9900 | €308,652 | €298,254 | -€10,399 | -3.4% |
| Operating profit (loss) | 9901 | €303,938 | €295,626 | -€8,312 | -2.7% |
| Financial income | 75/76B | €20,231 | €25,450 | +€5,219 | +25.8% |
| Recurring financial income | 75 | €20,231 | €25,450 | +€5,219 | +25.8% |
| Financial charges | 65/66B | €179 | €208 | +€30 | +16.7% |
| Recurring financial charges | 65 | €179 | €208 | +€30 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | €323,990 | €320,868 | -€3,123 | -1.0% |
| Income taxes | 67/77 | €100,683 | €99,617 | -€1,066 | -1.1% |
| Profit (loss) for the period | 9904 | €223,307 | €221,251 | -€2,057 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €223,307 | €221,251 | -€2,057 | -0.9% |
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 24 October 2026 via checked.be.