a Baker's Dozen: 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.
a Baker's Dozen
Largest movements
- Cash +€49,681
up €49,681 (+35.9%), from €138,369 to €188,050
mainly Net result for the year (+€54,351) and Debts after one year (+€42,123)
- Tangible fixed assets +€43,041
up €43,041 (+409%), from €10,517 to €53,558
of which Furniture and vehicles: +€42,997
- Receivables within one year -€4,825
down €4,825 (-15.6%), from €30,998 to €26,173
of which Trade receivables: -€4,820
- Reserves +€54,300
up €54,300 (+50.6%), from €107,300 to €161,600
- Debts after one year +€42,123
new in 2025: €42,123
- Tax, wage and social debts -€17,662
down €17,662 (-39.5%), from €44,752 to €27,090
of which Taxes: -€13,492
- Trade debts +€7,350
up €7,350 (+47.2%), from €15,566 to €22,916
- Gross operating margin +€24,936
up €24,936 (+40.7%), from €61,244 to €86,180
- Taxes +€7,636
up €7,636 (+50.0%), from €15,262 to €22,898
- Other operating charges +€1,604
up €1,604 (+284%), from €565 to €2,168
- Depreciation -€930
down €930 (-12.4%), from €7,521 to €6,591
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 | €180,688 | €268,584 | +€87,897 | +48.6% |
| Fixed assets | 21/28 | €10,517 | €53,558 | +€43,041 | +409% |
| Tangible fixed assets | 22/27 | €10,517 | €53,558 | +€43,041 | +409% |
| Land and buildings | 22 | €3,096 | €2,454 | -€642 | -20.7% |
| Plant, machinery and equipment | 23 | €2,055 | €2,741 | +€686 | +33.4% |
| Furniture and vehicles | 24 | €5,366 | €48,364 | +€42,997 | +801% |
| Current assets | 29/58 | €170,171 | €215,026 | +€44,855 | +26.4% |
| Amounts receivable within one year | 40/41 | €30,998 | €26,173 | -€4,825 | -15.6% |
| Trade receivables | 40 | €26,840 | €22,019 | -€4,820 | -18.0% |
| Other amounts receivable | 41 | €4,158 | €4,153 | -€5 | -0.1% |
| Cash at bank and in hand | 54/58 | €138,369 | €188,050 | +€49,681 | +35.9% |
| Deferred charges and accrued income | 490/1 | €804 | €804 | = | 0.0% |
| Total equity and liabilities | 10/49 | €180,688 | €268,584 | +€87,897 | +48.6% |
| Equity | 10/15 | €110,275 | €164,626 | +€54,351 | +49.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €107,300 | €161,600 | +€54,300 | +50.6% |
| Distributable reserves | 133 | €107,300 | €161,600 | +€54,300 | +50.6% |
| Profit (loss) carried forward | 14 | €975 | €1,026 | +€51 | +5.2% |
| Amounts payable | 17/49 | €70,412 | €103,958 | +€33,546 | +47.6% |
| Amounts payable after more than one year | 17 | - | €42,123 | +€42,123 | |
| Financial debts | 170/4 | - | €42,123 | +€42,123 | |
| Amounts payable within one year | 42/48 | €70,412 | €61,835 | -€8,577 | -12.2% |
| Trade debts | 44 | €15,566 | €22,916 | +€7,350 | +47.2% |
| Suppliers | 440/4 | €15,566 | €22,916 | +€7,350 | +47.2% |
| Taxes, remuneration and social security | 45 | €44,752 | €27,090 | -€17,662 | -39.5% |
| Taxes | 450/3 | €37,443 | €23,952 | -€13,492 | -36.0% |
| Remuneration and social security | 454/9 | €7,309 | €3,138 | -€4,171 | -57.1% |
| Other amounts payable | 47/48 | €10,094 | €11,829 | +€1,735 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,521 | €6,591 | -€930 | -12.4% |
| Other operating charges | 640/8 | €565 | €2,168 | +€1,604 | +284% |
| Gross operating margin | 9900 | €61,244 | €86,180 | +€24,936 | +40.7% |
| Operating profit (loss) | 9901 | €53,158 | €77,421 | +€24,263 | +45.6% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €493 | €172 | -€321 | -65.1% |
| Recurring financial charges | 65 | €493 | €172 | -€321 | -65.1% |
| Profit (loss) for the period before taxes | 9903 | €52,666 | €77,248 | +€24,583 | +46.7% |
| Income taxes | 67/77 | €15,262 | €22,898 | +€7,636 | +50.0% |
| Profit (loss) for the period | 9904 | €37,404 | €54,351 | +€16,947 | +45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,404 | €54,351 | +€16,947 | +45.3% |
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 23 October 2026 via checked.be.