20 Green: 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.
20 Green
Largest movements
- Cash +€77,948
up €77,948 (+197%), from €39,565 to €117,513
mainly Net result for the year (+€50,702) and Tax, wage and social debts (+€14,541)
- Receivables within one year -€11,807
down €11,807 (-100%), from €11,807 to €0
- Tangible fixed assets -€6,706
down €6,706 (-41.7%), from €16,088 to €9,382
of which Furniture and vehicles: -€6,356
- Reserves +€50,702
up €50,702 (+125%), from €40,545 to €91,247
- Tax, wage and social debts +€14,541
up €14,541 (+79.1%), from €18,379 to €32,920
- Other debts -€5,969
down €5,969 (-76.2%), from €7,836 to €1,868
- Gross operating margin +€13,123
up €13,123 (+21.9%), from €59,872 to €72,995
- Taxes +€2,857
up €2,857 (+24.7%), from €11,553 to €14,410
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 | €69,672 | €129,230 | +€59,558 | +85.5% |
| Fixed assets | 21/28 | €16,378 | €9,672 | -€6,706 | -40.9% |
| Tangible fixed assets | 22/27 | €16,088 | €9,382 | -€6,706 | -41.7% |
| Plant, machinery and equipment | 23 | €3,212 | €2,862 | -€350 | -10.9% |
| Furniture and vehicles | 24 | €12,876 | €6,520 | -€6,356 | -49.4% |
| Financial fixed assets | 28 | €290 | €290 | = | 0.0% |
| Current assets | 29/58 | €53,294 | €119,558 | +€66,264 | +124% |
| Amounts receivable within one year | 40/41 | €11,807 | €0 | -€11,807 | -100% |
| Trade receivables | 40 | €11,807 | €0 | -€11,807 | -100% |
| Cash at bank and in hand | 54/58 | €39,565 | €117,513 | +€77,948 | +197% |
| Deferred charges and accrued income | 490/1 | €1,922 | €2,045 | +€123 | +6.4% |
| Total equity and liabilities | 10/49 | €69,672 | €129,230 | +€59,558 | +85.5% |
| Equity | 10/15 | €43,045 | €93,747 | +€50,702 | +118% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €40,545 | €91,247 | +€50,702 | +125% |
| Distributable reserves | 133 | €40,545 | €91,247 | +€50,702 | +125% |
| Amounts payable | 17/49 | €26,627 | €35,483 | +€8,856 | +33.3% |
| Amounts payable within one year | 42/48 | €26,627 | €35,140 | +€8,512 | +32.0% |
| Trade debts | 44 | €412 | €352 | -€60 | -14.6% |
| Suppliers | 440/4 | €412 | €352 | -€60 | -14.6% |
| Taxes, remuneration and social security | 45 | €18,379 | €32,920 | +€14,541 | +79.1% |
| Taxes | 450/3 | €18,379 | €32,920 | +€14,541 | +79.1% |
| Other amounts payable | 47/48 | €7,836 | €1,868 | -€5,969 | -76.2% |
| Accrued charges and deferred income | 492/3 | - | €344 | +€344 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,481 | €6,706 | +€226 | +3.5% |
| Other operating charges | 640/8 | €1,253 | €793 | -€460 | -36.7% |
| Gross operating margin | 9900 | €59,872 | €72,995 | +€13,123 | +21.9% |
| Operating profit (loss) | 9901 | €52,138 | €65,496 | +€13,357 | +25.6% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €40 | €384 | +€344 | +854% |
| Recurring financial charges | 65 | €40 | €384 | +€344 | +854% |
| Profit (loss) for the period before taxes | 9903 | €52,098 | €65,112 | +€13,014 | +25.0% |
| Income taxes | 67/77 | €11,553 | €14,410 | +€2,857 | +24.7% |
| Profit (loss) for the period | 9904 | €40,545 | €50,702 | +€10,157 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,545 | €50,702 | +€10,157 | +25.1% |
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 21 October 2026 via checked.be.