A-J: 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-J
Largest movements
- Cash +€74,401
up €74,401 (+44.3%), from €168,009 to €242,410
mainly Net result for the year (+€117,770) and Depreciation (+€18,729)
- Tangible fixed assets -€12,636
down €12,636 (-12.5%), from €101,480 to €88,844
of which Plant, machinery and equipment: -€10,088
- Profit (loss) carried forward +€117,770
up €117,770 (+90.5%), from €130,097 to €247,867
- Trade debts -€50,522
down €50,522 (-75.0%), from €67,344 to €16,822
- Tax, wage and social debts -€13,968
down €13,968 (-53.2%), from €26,271 to €12,303
of which Remuneration and social security: -€13,466
- Other debts +€9,741
up €9,741 (+14.2%), from €68,735 to €78,477
- Staff costs -€11,568
down €11,568 (-12.6%), from €91,676 to €80,107
- Depreciation +€8,526
up €8,526 (+83.6%), from €10,203 to €18,729
- Gross operating margin +€4,547
up €4,547 (+2.1%), from €218,686 to €223,234
- Financial charges +€4,490
up €4,490 (+120%), from €3,743 to €8,233
of which Financial charges: +€4,590
- Taxes -€3,952
down €3,952 (-85.3%), from €4,631 to €679
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 | €293,447 | €356,468 | +€63,021 | +21.5% |
| Fixed assets | 21/28 | €101,480 | €89,644 | -€11,836 | -11.7% |
| Tangible fixed assets | 22/27 | €101,480 | €88,844 | -€12,636 | -12.5% |
| Land and buildings | 22 | - | €4,527 | +€4,527 | |
| Plant, machinery and equipment | 23 | €76,127 | €66,039 | -€10,088 | -13.3% |
| Furniture and vehicles | 24 | €25,353 | €18,278 | -€7,075 | -27.9% |
| Financial fixed assets | 28 | - | €800 | +€800 | |
| Current assets | 29/58 | €191,967 | €266,825 | +€74,857 | +39.0% |
| Stocks and contracts in progress | 3 | €16,525 | €18,485 | +€1,960 | +11.9% |
| Stocks | 30/36 | €16,525 | €18,485 | +€1,960 | +11.9% |
| Amounts receivable within one year | 40/41 | €7,433 | €5,929 | -€1,504 | -20.2% |
| Trade receivables | 40 | €6,521 | €3,559 | -€2,962 | -45.4% |
| Other amounts receivable | 41 | €912 | €2,371 | +€1,458 | +160% |
| Cash at bank and in hand | 54/58 | €168,009 | €242,410 | +€74,401 | +44.3% |
| Total equity and liabilities | 10/49 | €293,447 | €356,468 | +€63,021 | +21.5% |
| Equity | 10/15 | €131,097 | €248,867 | +€117,770 | +89.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €130,097 | €247,867 | +€117,770 | +90.5% |
| Amounts payable | 17/49 | €162,350 | €107,601 | -€54,749 | -33.7% |
| Amounts payable within one year | 42/48 | €162,350 | €107,601 | -€54,749 | -33.7% |
| Trade debts | 44 | €67,344 | €16,822 | -€50,522 | -75.0% |
| Suppliers | 440/4 | €67,344 | €16,822 | -€50,522 | -75.0% |
| Taxes, remuneration and social security | 45 | €26,271 | €12,303 | -€13,968 | -53.2% |
| Taxes | 450/3 | €12,805 | €12,303 | -€502 | -3.9% |
| Remuneration and social security | 454/9 | €13,466 | - | -€13,466 | |
| Other amounts payable | 47/48 | €68,735 | €78,477 | +€9,741 | +14.2% |
| Remuneration, social security and pensions | 62 | €91,676 | €80,107 | -€11,568 | -12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,203 | €18,729 | +€8,526 | +83.6% |
| Gross operating margin | 9900 | €218,686 | €223,234 | +€4,547 | +2.1% |
| Operating profit (loss) | 9901 | €116,808 | €124,398 | +€7,589 | +6.5% |
| Financial income | 75/76B | €427 | €2,284 | +€1,858 | +435% |
| Recurring financial income | 75 | €427 | €2,284 | +€1,858 | +435% |
| Financial charges | 65/66B | €3,743 | €8,233 | +€4,490 | +120% |
| Recurring financial charges | 65 | €3,143 | €7,733 | +€4,590 | +146% |
| Non-recurring financial charges | 66B | €600 | €500 | -€100 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €113,492 | €118,449 | +€4,957 | +4.4% |
| Income taxes | 67/77 | €4,631 | €679 | -€3,952 | -85.3% |
| Profit (loss) for the period | 9904 | €108,861 | €117,770 | +€8,909 | +8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €108,861 | €117,770 | +€8,909 | +8.2% |
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 15 October 2026 via checked.be.