2 wielen: 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.
2 wielen
Largest movements
- Receivables after one year +€87,120
up €87,120 (+34.2%), from €254,620 to €341,740
- Cash -€51,624
down €51,624 (-21.5%), from €240,469 to €188,844
mainly Receivables after one year (-€87,120) and Receivables within one year (-€11,725)
- Reserves +€61,868
up €61,868 (+4.6%), from €1.4m to €1.4m
- Financial income +€22,772
up €22,772 (+433%), from €5,259 to €28,031
- Taxes +€12,929
up €12,929 (+78.7%), from €16,438 to €29,367
- Gross operating margin +€9,439
up €9,439 (+13.7%), from €69,073 to €78,512
- Financial charges -€8,274
down €8,274 (-94.4%), from €8,765 to €491
- Other operating charges +€2,023
up €2,023 (+359%), from €564 to €2,587
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 | €1,429,591 | €1,475,626 | +€46,034 | +3.2% |
| Fixed assets | 21/28 | €108,732 | €97,819 | -€10,913 | -10.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €108,732 | €97,819 | -€10,913 | -10.0% |
| Plant, machinery and equipment | 23 | €1,407 | €650 | -€757 | -53.8% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €107,326 | €97,169 | -€10,156 | -9.5% |
| Current assets | 29/58 | €1,320,859 | €1,377,807 | +€56,948 | +4.3% |
| Amounts receivable after more than one year | 29 | €254,620 | €341,740 | +€87,120 | +34.2% |
| Other amounts receivable | 291 | €254,620 | €341,740 | +€87,120 | +34.2% |
| Stocks and contracts in progress | 3 | €121,439 | €130,318 | +€8,879 | +7.3% |
| Stocks | 30/36 | €121,439 | €130,318 | +€8,879 | +7.3% |
| Amounts receivable within one year | 40/41 | €46,012 | €57,737 | +€11,725 | +25.5% |
| Trade receivables | 40 | €33,828 | €19,203 | -€14,625 | -43.2% |
| Other amounts receivable | 41 | €12,185 | €38,535 | +€26,350 | +216% |
| Current investments | 50/53 | €650,000 | €650,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €240,469 | €188,844 | -€51,624 | -21.5% |
| Deferred charges and accrued income | 490/1 | €8,318 | €9,167 | +€848 | +10.2% |
| Total equity and liabilities | 10/49 | €1,429,591 | €1,475,626 | +€46,034 | +3.2% |
| Equity | 10/15 | €1,359,116 | €1,420,984 | +€61,868 | +4.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,352,916 | €1,414,784 | +€61,868 | +4.6% |
| Distributable reserves | 133 | €1,352,916 | €1,414,784 | +€61,868 | +4.6% |
| Amounts payable | 17/49 | €70,475 | €54,642 | -€15,833 | -22.5% |
| Amounts payable within one year | 42/48 | €62,820 | €54,642 | -€8,178 | -13.0% |
| Trade debts | 44 | €48,479 | €37,689 | -€10,790 | -22.3% |
| Suppliers | 440/4 | €48,479 | €37,689 | -€10,790 | -22.3% |
| Advances received on contracts in progress | 46 | €725 | €1,025 | +€300 | +41.4% |
| Taxes, remuneration and social security | 45 | €434 | - | -€434 | |
| Remuneration and social security | 454/9 | €434 | - | -€434 | |
| Other amounts payable | 47/48 | €13,182 | €15,928 | +€2,746 | +20.8% |
| Accrued charges and deferred income | 492/3 | €7,655 | - | -€7,655 | |
| Remuneration, social security and pensions | 62 | €2,847 | €1,317 | -€1,530 | -53.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,886 | €10,913 | +€27 | +0.3% |
| Other operating charges | 640/8 | €564 | €2,587 | +€2,023 | +359% |
| Gross operating margin | 9900 | €69,073 | €78,512 | +€9,439 | +13.7% |
| Operating profit (loss) | 9901 | €54,777 | €63,695 | +€8,918 | +16.3% |
| Financial income | 75/76B | €5,259 | €28,031 | +€22,772 | +433% |
| Recurring financial income | 75 | €5,259 | €28,031 | +€22,772 | +433% |
| Financial charges | 65/66B | €8,765 | €491 | -€8,274 | -94.4% |
| Recurring financial charges | 65 | €8,765 | €491 | -€8,274 | -94.4% |
| Profit (loss) for the period before taxes | 9903 | €51,271 | €91,235 | +€39,964 | +77.9% |
| Income taxes | 67/77 | €16,438 | €29,367 | +€12,929 | +78.7% |
| Profit (loss) for the period | 9904 | €34,833 | €61,868 | +€27,035 | +77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €34,833 | €61,868 | +€27,035 | +77.6% |
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 23 October 2026 via checked.be.