2 The ...: 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.
2 The ...
Largest movements
- Cash +€46,146
up €46,146 (+62.6%), from €73,671 to €119,817
mainly Net result for the year (+€36,587) and Other debts (+€29,766)
- Tangible fixed assets -€8,611
down €8,611 (-24.7%), from €34,851 to €26,241
- Other debts +€29,766
up €29,766 (+349.6%), from €8,514 to €38,279
- Reserves +€5,277
up €5,277 (+5.8%), from €91,680 to €96,957
of which Distributable reserves: +€5,277
- Tax, wage and social debts +€2,485
up €2,485 (+331.4%), from €750 to €3,235
- Gross operating margin +€17,734
up €17,734 (+41.6%), from €42,618 to €60,352
- Taxes +€2,503
up €2,503 (+22.1%), from €11,335 to €13,837
- Financial charges +€805
up €805 (+1593.0%), from €51 to €856
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 | €113,607 | €150,871 | +€37,264 | +32.8% |
| Fixed assets | 21/28 | €34,851 | €26,241 | -€8,611 | -24.7% |
| Tangible fixed assets | 22/27 | €34,851 | €26,241 | -€8,611 | -24.7% |
| Plant, machinery and equipment | 23 | €2,153 | - | -€2,153 | |
| Furniture and vehicles | 24 | €17,272 | €14,243 | -€3,029 | -17.5% |
| Other tangible fixed assets | 26 | €15,426 | €11,998 | -€3,428 | -22.2% |
| Current assets | 29/58 | €78,756 | €124,630 | +€45,875 | +58.2% |
| Amounts receivable within one year | 40/41 | €4,697 | €4,656 | -€41 | -0.9% |
| Trade receivables | 40 | €1,388 | €4,656 | +€3,268 | +235.4% |
| Other amounts receivable | 41 | €3,309 | - | -€3,309 | |
| Cash at bank and in hand | 54/58 | €73,671 | €119,817 | +€46,146 | +62.6% |
| Deferred charges and accrued income | 490/1 | €388 | €158 | -€230 | -59.3% |
| Total equity and liabilities | 10/49 | €113,607 | €150,871 | +€37,264 | +32.8% |
| Equity | 10/15 | €104,080 | €109,357 | +€5,277 | +5.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €91,680 | €96,957 | +€5,277 | +5.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €89,820 | €95,097 | +€5,277 | +5.9% |
| Amounts payable | 17/49 | €9,527 | €41,514 | +€31,987 | +335.7% |
| Amounts payable within one year | 42/48 | €9,527 | €41,514 | +€31,987 | +335.7% |
| Trade debts | 44 | €264 | - | -€264 | |
| Suppliers | 440/4 | €264 | - | -€264 | |
| Taxes, remuneration and social security | 45 | €750 | €3,235 | +€2,485 | +331.4% |
| Taxes | 450/3 | €750 | €3,235 | +€2,485 | +331.4% |
| Other amounts payable | 47/48 | €8,514 | €38,279 | +€29,766 | +349.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,503 | €8,611 | +€107 | +1.3% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €42,618 | €60,352 | +€17,734 | +41.6% |
| Operating profit (loss) | 9901 | €33,666 | €51,280 | +€17,614 | +52.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €51 | €856 | +€805 | +1593.0% |
| Recurring financial charges | 65 | €51 | €856 | +€805 | +1593.0% |
| Profit (loss) for the period before taxes | 9903 | €33,615 | €50,425 | +€16,809 | +50.0% |
| Income taxes | 67/77 | €11,335 | €13,837 | +€2,503 | +22.1% |
| Profit (loss) for the period | 9904 | €22,281 | €36,587 | +€14,307 | +64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €22,281 | €36,587 | +€14,307 | +64.2% |
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 4 October 2026 via checked.be.