7.10 AM: 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.
7.10 AM
Largest movements
- Tangible fixed assets +€14,442
up €14,442 (+26.3%), from €54,871 to €69,312
of which Plant, machinery and equipment: +€11,607
- Cash +€13,805
up €13,805 (+79.5%), from €17,371 to €31,176
mainly Net result for the year (+€24,825) and Depreciation (+€13,795)
- Deferred charges and accrued income +€1,883
up €1,883 (+221%), from €854 to €2,737
- Receivables within one year +€1,620
up €1,620 (+15.1%), from €10,735 to €12,355
of which Other amounts receivable: +€6,192
- Reserves +€23,992
up €23,992 (+126%), from €18,974 to €42,966
- Trade debts +€6,330
up €6,330 (+435%), from €1,454 to €7,783
- Debts after one year +€3,648
up €3,648 (+10.9%), from €33,462 to €37,109
- Other debts -€2,567
down €2,567 (-74.8%), from €3,432 to €865
- Tax, wage and social debts +€1,943
up €1,943 (+21.7%), from €8,950 to €10,894
of which Remuneration and social security: +€1,162
- Gross operating margin +€30,756
up €30,756 (+100%), from €30,626 to €61,382
- Depreciation +€12,215
up €12,215 (+773%), from €1,579 to €13,795
- Staff costs +€10,425
new in 2025: €10,425
- Financial charges +€2,040
up €2,040 (+444%), from €459 to €2,500
- Taxes +€706
up €706 (+8.7%), from €8,102 to €8,808
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 | €83,832 | €115,582 | +€31,750 | +37.9% |
| Fixed assets | 21/28 | €54,872 | €69,313 | +€14,442 | +26.3% |
| Intangible fixed assets | 21 | €1 | €1 | -€0 | -10.3% |
| Tangible fixed assets | 22/27 | €54,871 | €69,312 | +€14,442 | +26.3% |
| Plant, machinery and equipment | 23 | €40,388 | €51,995 | +€11,607 | +28.7% |
| Furniture and vehicles | 24 | €14,482 | €14,585 | +€103 | +0.7% |
| Other tangible fixed assets | 26 | - | €2,732 | +€2,732 | |
| Current assets | 29/58 | €28,960 | €46,268 | +€17,308 | +59.8% |
| Amounts receivable within one year | 40/41 | €10,735 | €12,355 | +€1,620 | +15.1% |
| Trade receivables | 40 | €10,735 | €6,164 | -€4,572 | -42.6% |
| Other amounts receivable | 41 | - | €6,192 | +€6,192 | |
| Cash at bank and in hand | 54/58 | €17,371 | €31,176 | +€13,805 | +79.5% |
| Deferred charges and accrued income | 490/1 | €854 | €2,737 | +€1,883 | +221% |
| Total equity and liabilities | 10/49 | €83,832 | €115,582 | +€31,750 | +37.9% |
| Equity | 10/15 | €21,974 | €45,966 | +€23,992 | +109% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €18,974 | €42,966 | +€23,992 | +126% |
| Distributable reserves | 133 | €18,974 | €42,966 | +€23,992 | +126% |
| Amounts payable | 17/49 | €61,858 | €69,616 | +€7,758 | +12.5% |
| Amounts payable after more than one year | 17 | €33,462 | €37,109 | +€3,648 | +10.9% |
| Financial debts | 170/4 | €33,462 | €37,109 | +€3,648 | +10.9% |
| Amounts payable within one year | 42/48 | €28,396 | €32,506 | +€4,111 | +14.5% |
| Current portion of amounts payable after more than one year | 42 | €14,560 | €12,965 | -€1,595 | -11.0% |
| Trade debts | 44 | €1,454 | €7,783 | +€6,330 | +435% |
| Suppliers | 440/4 | €1,454 | €7,783 | +€6,330 | +435% |
| Taxes, remuneration and social security | 45 | €8,950 | €10,894 | +€1,943 | +21.7% |
| Taxes | 450/3 | €8,950 | €9,731 | +€781 | +8.7% |
| Remuneration and social security | 454/9 | - | €1,162 | +€1,162 | |
| Other amounts payable | 47/48 | €3,432 | €865 | -€2,567 | -74.8% |
| Non-recurring operating income | 76A | €2,000 | - | -€2,000 | |
| Remuneration, social security and pensions | 62 | - | €10,425 | +€10,425 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,579 | €13,795 | +€12,215 | +773% |
| Other operating charges | 640/8 | €652 | €1,082 | +€430 | +66.0% |
| Gross operating margin | 9900 | €30,626 | €61,382 | +€30,756 | +100% |
| Operating profit (loss) | 9901 | €28,395 | €36,080 | +€7,685 | +27.1% |
| Financial income | 75/76B | - | €52 | +€52 | |
| Recurring financial income | 75 | - | €52 | +€52 | |
| Financial charges | 65/66B | €459 | €2,500 | +€2,040 | +444% |
| Recurring financial charges | 65 | €459 | €2,500 | +€2,040 | +444% |
| Profit (loss) for the period before taxes | 9903 | €27,936 | €33,633 | +€5,697 | +20.4% |
| Income taxes | 67/77 | €8,102 | €8,808 | +€706 | +8.7% |
| Profit (loss) for the period | 9904 | €19,833 | €24,825 | +€4,991 | +25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,833 | €24,825 | +€4,991 | +25.2% |
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 17 October 2026 via checked.be.