13 ANALYTICS: 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.
13 ANALYTICS
Largest movements
- Receivables within one year +€9,954
up €9,954 (+26.5%), from €37,601 to €47,555
of which Other amounts receivable: +€9,954
- Cash -€6,074
down €6,074 (-8.9%), from €68,461 to €62,388
mainly Receivables within one year (-€9,954) and Deferred charges and accrued income (-€1,093)
- Tangible fixed assets -€1,995
down €1,995 (-39.4%), from €5,069 to €3,074
- Reserves +€3,500
up €3,500 (+3.9%), from €90,000 to €93,500
- Financial charges +€51,048
up €51,048 (+1862.0%), from €2,742 to €53,790
- Taxes -€11,949
down €11,949 (-84.3%), from €14,170 to €2,221
- Gross operating margin -€7,863
down €7,863 (-11.2%), from €70,045 to €62,182
- Depreciation +€705
up €705 (+54.7%), from €1,289 to €1,995
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €113,650 | €116,628 | +€2,979 | +2.6% |
| Fixed assets | 21/28 | €5,269 | €3,274 | -€1,995 | -37.9% |
| Tangible fixed assets | 22/27 | €5,069 | €3,074 | -€1,995 | -39.4% |
| Furniture and vehicles | 24 | €5,069 | €3,074 | -€1,995 | -39.4% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €108,381 | €113,354 | +€4,973 | +4.6% |
| Amounts receivable within one year | 40/41 | €37,601 | €47,555 | +€9,954 | +26.5% |
| Trade receivables | 40 | €31,763 | €31,763 | = | 0.0% |
| Other amounts receivable | 41 | €5,839 | €15,793 | +€9,954 | +170.5% |
| Cash at bank and in hand | 54/58 | €68,461 | €62,388 | -€6,074 | -8.9% |
| Deferred charges and accrued income | 490/1 | €2,318 | €3,411 | +€1,093 | +47.2% |
| Total equity and liabilities | 10/49 | €113,650 | €116,628 | +€2,979 | +2.6% |
| Equity | 10/15 | €97,915 | €101,126 | +€3,211 | +3.3% |
| Contributions | 10/11 | €7,600 | €7,600 | = | 0.0% |
| Reserves | 13 | €90,000 | €93,500 | +€3,500 | +3.9% |
| Distributable reserves | 133 | €90,000 | €93,500 | +€3,500 | +3.9% |
| Profit (loss) carried forward | 14 | €315 | €26 | -€289 | -91.7% |
| Amounts payable | 17/49 | €15,734 | €15,502 | -€232 | -1.5% |
| Amounts payable within one year | 42/48 | €15,726 | €15,502 | -€224 | -1.4% |
| Trade debts | 44 | €4,197 | €3,341 | -€856 | -20.4% |
| Suppliers | 440/4 | €4,197 | €3,341 | -€856 | -20.4% |
| Taxes, remuneration and social security | 45 | €7,125 | €7,285 | +€160 | +2.2% |
| Taxes | 450/3 | €7,125 | €7,245 | +€120 | +1.7% |
| Remuneration and social security | 454/9 | - | €40 | +€40 | |
| Other amounts payable | 47/48 | €4,403 | €4,876 | +€472 | +10.7% |
| Accrued charges and deferred income | 492/3 | €8 | €0 | -€8 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,289 | €1,995 | +€705 | +54.7% |
| Other operating charges | 640/8 | €506 | €966 | +€460 | +91.0% |
| Gross operating margin | 9900 | €70,045 | €62,182 | -€7,863 | -11.2% |
| Operating profit (loss) | 9901 | €68,250 | €59,222 | -€9,028 | -13.2% |
| Financial income | 75/76B | €40 | €0 | -€40 | -100.0% |
| Recurring financial income | 75 | €40 | €0 | -€40 | -100.0% |
| Financial charges | 65/66B | €2,742 | €53,790 | +€51,048 | +1862.0% |
| Recurring financial charges | 65 | €2,742 | €53,790 | +€51,048 | +1862.0% |
| Profit (loss) for the period before taxes | 9903 | €65,548 | €5,432 | -€60,116 | -91.7% |
| Income taxes | 67/77 | €14,170 | €2,221 | -€11,949 | -84.3% |
| Profit (loss) for the period | 9904 | €51,378 | €3,211 | -€48,168 | -93.8% |
| Profit (loss) for the period to be appropriated | 9905 | €51,378 | €3,211 | -€48,168 | -93.8% |
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 3 October 2026 via checked.be.