37graden: 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.
37graden
Largest movements
- Cash -€44,013
down €44,013 (-20.0%), from €219,754 to €175,741
mainly Receivables within one year (-€37,438) and Investment in fixed assets (net) (-€33,279)
- Receivables within one year +€37,438
up €37,438 (+59.4%), from €62,975 to €100,413
of which Trade receivables: +€28,355
- Tangible fixed assets +€25,865
up €25,865 (+153.6%), from €16,845 to €42,710
- Trade debts +€29,552
up €29,552 (+58.7%), from €50,349 to €79,901
- Tax, wage and social debts -€24,200
down €24,200 (-90.8%), from €26,637 to €2,437
- Accrued charges and deferred income +€6,006
up €6,006 (+109.0%), from €5,508 to €11,514
- Other debts +€4,665
up €4,665 (+12.1%), from €38,600 to €43,265
- Reserves +€3,958
up €3,958 (+3.2%), from €124,808 to €128,765
- Gross operating margin -€64,223
down €64,223 (-74.5%), from €86,160 to €21,937
- Taxes -€17,965
down €17,965 (-83.8%), from €21,430 to €3,465
- Depreciation +€1,094
up €1,094 (+17.3%), from €6,321 to €7,414
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 | €323,402 | €343,384 | +€19,982 | +6.2% |
| Fixed assets | 21/28 | €32,069 | €57,934 | +€25,865 | +80.7% |
| Tangible fixed assets | 22/27 | €16,845 | €42,710 | +€25,865 | +153.6% |
| Furniture and vehicles | 24 | €16,845 | €42,710 | +€25,865 | +153.6% |
| Financial fixed assets | 28 | €15,224 | €15,224 | = | 0.0% |
| Current assets | 29/58 | €291,333 | €285,449 | -€5,884 | -2.0% |
| Stocks and contracts in progress | 3 | €6,912 | €6,504 | -€408 | -5.9% |
| Stocks | 30/36 | €6,912 | €6,504 | -€408 | -5.9% |
| Amounts receivable within one year | 40/41 | €62,975 | €100,413 | +€37,438 | +59.4% |
| Trade receivables | 40 | €62,924 | €91,280 | +€28,355 | +45.1% |
| Other amounts receivable | 41 | €51 | €9,133 | +€9,082 | +17818.9% |
| Cash at bank and in hand | 54/58 | €219,754 | €175,741 | -€44,013 | -20.0% |
| Deferred charges and accrued income | 490/1 | €1,692 | €2,791 | +€1,099 | +65.0% |
| Total equity and liabilities | 10/49 | €323,402 | €343,384 | +€19,982 | +6.2% |
| Equity | 10/15 | €202,308 | €206,265 | +€3,958 | +2.0% |
| Contributions | 10/11 | €77,500 | €77,500 | = | 0.0% |
| Reserves | 13 | €124,808 | €128,765 | +€3,958 | +3.2% |
| Distributable reserves | 133 | €124,808 | €128,765 | +€3,958 | +3.2% |
| Amounts payable | 17/49 | €121,094 | €137,118 | +€16,024 | +13.2% |
| Amounts payable within one year | 42/48 | €115,586 | €125,604 | +€10,018 | +8.7% |
| Trade debts | 44 | €50,349 | €79,901 | +€29,552 | +58.7% |
| Suppliers | 440/4 | €50,349 | €79,901 | +€29,552 | +58.7% |
| Taxes, remuneration and social security | 45 | €26,637 | €2,437 | -€24,200 | -90.8% |
| Taxes | 450/3 | €26,637 | €2,437 | -€24,200 | -90.8% |
| Other amounts payable | 47/48 | €38,600 | €43,265 | +€4,665 | +12.1% |
| Accrued charges and deferred income | 492/3 | €5,508 | €11,514 | +€6,006 | +109.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,321 | €7,414 | +€1,094 | +17.3% |
| Other operating charges | 640/8 | €1,638 | €1,926 | +€288 | +17.6% |
| Gross operating margin | 9900 | €86,160 | €21,937 | -€64,223 | -74.5% |
| Operating profit (loss) | 9901 | €78,201 | €12,597 | -€65,604 | -83.9% |
| Financial income | 75/76B | €1 | €0 | -€0 | -94.0% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -94.0% |
| Financial charges | 65/66B | €549 | €524 | -€24 | -4.5% |
| Recurring financial charges | 65 | €549 | €524 | -€24 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €77,653 | €12,072 | -€65,580 | -84.5% |
| Income taxes | 67/77 | €21,430 | €3,465 | -€17,965 | -83.8% |
| Profit (loss) for the period | 9904 | €56,223 | €8,608 | -€47,615 | -84.7% |
| Profit (loss) for the period to be appropriated | 9905 | €56,223 | €8,608 | -€47,615 | -84.7% |
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 10 October 2026 via checked.be.