31 FEVRIER: 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.
31 FEVRIER
Largest movements
- Receivables within one year -€24,692
down €24,692 (-55.1%), from €44,784 to €20,092
of which Trade receivables: -€30,568
- Tangible fixed assets +€18,713
up €18,713 (+414%), from €4,521 to €23,234
- Cash +€10,167
up €10,167 (+219%), from €4,633 to €14,800
mainly Receivables within one year (+€24,692) and Depreciation (+€6,989)
- Reserves +€6,273
up €6,273 (+13.9%), from €45,110 to €51,384
of which Distributable reserves: +€6,273
- Tax, wage and social debts -€1,602
no longer reported in 2025 (was €1,602)
- Gross operating margin -€15,647
down €15,647 (-44.7%), from €35,020 to €19,372
- Taxes -€5,760
down €5,760 (-58.8%), from €9,801 to €4,041
- Depreciation +€5,129
up €5,129 (+276%), from €1,860 to €6,989
- Other operating charges +€1,323
up €1,323 (+226%), from €585 to €1,909
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 | €57,307 | €61,672 | +€4,364 | +7.6% |
| Fixed assets | 21/28 | €4,521 | €23,234 | +€18,713 | +414% |
| Tangible fixed assets | 22/27 | €4,521 | €23,234 | +€18,713 | +414% |
| Furniture and vehicles | 24 | €4,521 | €23,234 | +€18,713 | +414% |
| Current assets | 29/58 | €52,786 | €38,438 | -€14,349 | -27.2% |
| Amounts receivable within one year | 40/41 | €44,784 | €20,092 | -€24,692 | -55.1% |
| Trade receivables | 40 | €43,459 | €12,891 | -€30,568 | -70.3% |
| Other amounts receivable | 41 | €1,326 | €7,201 | +€5,876 | +443% |
| Cash at bank and in hand | 54/58 | €4,633 | €14,800 | +€10,167 | +219% |
| Deferred charges and accrued income | 490/1 | €3,369 | €3,546 | +€176 | +5.2% |
| Total equity and liabilities | 10/49 | €57,307 | €61,672 | +€4,364 | +7.6% |
| Equity | 10/15 | €52,643 | €58,916 | +€6,273 | +11.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €45,110 | €51,384 | +€6,273 | +13.9% |
| 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 | €43,250 | €49,524 | +€6,273 | +14.5% |
| Profit (loss) carried forward | 14 | €1,332 | €1,332 | = | 0.0% |
| Amounts payable | 17/49 | €4,665 | €2,756 | -€1,909 | -40.9% |
| Amounts payable within one year | 42/48 | €4,665 | €2,756 | -€1,909 | -40.9% |
| Trade debts | 44 | €2,024 | €1,512 | -€512 | -25.3% |
| Suppliers | 440/4 | €2,024 | €1,512 | -€512 | -25.3% |
| Taxes, remuneration and social security | 45 | €1,602 | - | -€1,602 | |
| Taxes | 450/3 | €1,602 | - | -€1,602 | |
| Other amounts payable | 47/48 | €1,039 | €1,244 | +€205 | +19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,860 | €6,989 | +€5,129 | +276% |
| Other operating charges | 640/8 | €585 | €1,909 | +€1,323 | +226% |
| Gross operating margin | 9900 | €35,020 | €19,372 | -€15,647 | -44.7% |
| Operating profit (loss) | 9901 | €32,574 | €10,475 | -€22,100 | -67.8% |
| Financial charges | 65/66B | €138 | €160 | +€22 | +15.7% |
| Recurring financial charges | 65 | €138 | €160 | +€22 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €32,436 | €10,315 | -€22,122 | -68.2% |
| Income taxes | 67/77 | €9,801 | €4,041 | -€5,760 | -58.8% |
| Profit (loss) for the period | 9904 | €22,635 | €6,273 | -€16,361 | -72.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,635 | €6,273 | -€16,361 | -72.3% |
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 30 October 2026 via checked.be.