3P: 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.
3P
Largest movements
- Current investments +€5.0m
new in 2025: €5.0m
- Cash +€1.3m
up €1.3m (+101.9%), from €1.3m to €2.6m
mainly Net result for the year (+€6.5m) and Other debts (+€6.1m)
- Receivables within one year +€414,902
up €414,902 (+16.6%), from €2.5m to €2.9m
of which Other amounts receivable: +€661,040
- Deferred charges and accrued income +€231,032
up €231,032 (+177.3%), from €130,302 to €361,334
- Other debts +€6.1m
up €6.1m (+690.1%), from €882,000 to €7.0m
- Trade debts +€612,792
up €612,792 (+333.4%), from €183,809 to €796,601
- Accrued charges and deferred income +€133,565
up €133,565 (+4.8%), from €2.8m to €2.9m
- Gross operating margin -€2.6m
down €2.6m (-17.3%), from €14.8m to €12.2m
- Staff costs +€715,213
up €715,213 (+16.3%), from €4.4m to €5.1m
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 | €4,531,246 | €11,407,967 | +€6.9m | +151.8% |
| Fixed assets | 21/28 | €629,855 | €570,127 | -€59,728 | -9.5% |
| Tangible fixed assets | 22/27 | €404,342 | €359,897 | -€44,445 | -11.0% |
| Furniture and vehicles | 24 | €140,820 | €128,660 | -€12,160 | -8.6% |
| Other tangible fixed assets | 26 | €263,523 | €231,237 | -€32,285 | -12.3% |
| Financial fixed assets | 28 | €225,513 | €210,230 | -€15,283 | -6.8% |
| Current assets | 29/58 | €3,901,391 | €10,837,839 | +€6.9m | +177.8% |
| Amounts receivable within one year | 40/41 | €2,505,040 | €2,919,942 | +€414,902 | +16.6% |
| Trade receivables | 40 | €2,098,983 | €1,852,846 | -€246,138 | -11.7% |
| Other amounts receivable | 41 | €406,057 | €1,067,096 | +€661,040 | +162.8% |
| Current investments | 50/53 | - | €5,000,000 | +€5.0m | |
| Cash at bank and in hand | 54/58 | €1,266,049 | €2,556,563 | +€1.3m | +101.9% |
| Deferred charges and accrued income | 490/1 | €130,302 | €361,334 | +€231,032 | +177.3% |
| Total equity and liabilities | 10/49 | €4,531,246 | €11,407,967 | +€6.9m | +151.8% |
| Equity | 10/15 | €80,555 | €81,023 | +€468 | +0.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €8,112 | €8,112 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,962 | €1,962 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,944 | €11,412 | +€468 | +4.3% |
| Amounts payable | 17/49 | €4,450,691 | €11,326,943 | +€6.9m | +154.5% |
| Amounts payable within one year | 42/48 | €1,676,052 | €8,418,739 | +€6.7m | +402.3% |
| Trade debts | 44 | €183,809 | €796,601 | +€612,792 | +333.4% |
| Suppliers | 440/4 | €183,809 | €796,601 | +€612,792 | +333.4% |
| Taxes, remuneration and social security | 45 | €610,243 | €653,218 | +€42,975 | +7.0% |
| Taxes | 450/3 | €133,088 | €92,900 | -€40,188 | -30.2% |
| Remuneration and social security | 454/9 | €477,155 | €560,318 | +€83,163 | +17.4% |
| Other amounts payable | 47/48 | €882,000 | €6,968,921 | +€6.1m | +690.1% |
| Accrued charges and deferred income | 492/3 | €2,774,639 | €2,908,204 | +€133,565 | +4.8% |
| Remuneration, social security and pensions | 62 | €4,389,706 | €5,104,919 | +€715,213 | +16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,809 | €118,279 | +€65,470 | +124.0% |
| Other operating charges | 640/8 | €5,425 | €3,498 | -€1,927 | -35.5% |
| Gross operating margin | 9900 | €14,776,973 | €12,223,986 | -€2.6m | -17.3% |
| Operating profit (loss) | 9901 | €10,329,033 | €6,997,291 | -€3.3m | -32.3% |
| Financial income | 75/76B | €88,746 | €25,881 | -€62,865 | -70.8% |
| Recurring financial income | 75 | €88,746 | €25,881 | -€62,865 | -70.8% |
| Financial charges | 65/66B | €7,304 | €8,540 | +€1,236 | +16.9% |
| Recurring financial charges | 65 | €7,304 | €8,540 | +€1,236 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | €10,410,474 | €7,014,631 | -€3.4m | -32.6% |
| Income taxes | 67/77 | €427,912 | €495,163 | +€67,251 | +15.7% |
| Profit (loss) for the period | 9904 | €9,982,562 | €6,519,468 | -€3.5m | -34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,982,562 | €6,519,468 | -€3.5m | -34.7% |
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.