A - LINE: 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.
A - LINE
Largest movements
- Cash +€50,746
up €50,746 (+45.0%), from €112,730 to €163,476
mainly Net result for the year (+€28,078) and Receivables within one year (+€15,182)
- Receivables within one year -€15,182
down €15,182 (-68.1%), from €22,308 to €7,125
of which Trade receivables: -€13,838
- Tangible fixed assets -€2,270
down €2,270 (-30.0%), from €7,577 to €5,307
- Reserves +€28,078
up €28,078 (+49.3%), from €56,954 to €85,032
of which Distributable reserves: +€28,536
- Tax, wage and social debts +€4,462
up €4,462 (+169.5%), from €2,633 to €7,095
of which Taxes: +€4,462
- Gross operating margin +€12,205
up €12,205 (+32.6%), from €37,490 to €49,694
- Taxes +€3,095
up €3,095 (+26.3%), from €11,758 to €14,853
- Other operating charges +€1,946
up €1,946 (+181.5%), from €1,072 to €3,018
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 | €142,804 | €176,105 | +€33,301 | +23.3% |
| Fixed assets | 21/28 | €7,577 | €5,307 | -€2,270 | -30.0% |
| Tangible fixed assets | 22/27 | €7,577 | €5,307 | -€2,270 | -30.0% |
| Furniture and vehicles | 24 | €7,577 | €5,307 | -€2,270 | -30.0% |
| Current assets | 29/58 | €135,227 | €170,798 | +€35,570 | +26.3% |
| Amounts receivable within one year | 40/41 | €22,308 | €7,125 | -€15,182 | -68.1% |
| Trade receivables | 40 | €20,963 | €7,125 | -€13,838 | -66.0% |
| Other amounts receivable | 41 | €1,344 | - | -€1,344 | |
| Cash at bank and in hand | 54/58 | €112,730 | €163,476 | +€50,746 | +45.0% |
| Deferred charges and accrued income | 490/1 | €190 | €196 | +€6 | +3.4% |
| Total equity and liabilities | 10/49 | €142,804 | €176,105 | +€33,301 | +23.3% |
| Equity | 10/15 | €75,554 | €103,632 | +€28,078 | +37.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €56,954 | €85,032 | +€28,078 | +49.3% |
| Non-distributable reserves | 130/1 | €458 | - | -€458 | |
| Reserves not available under the articles | 1311 | €458 | - | -€458 | |
| Distributable reserves | 133 | €56,496 | €85,032 | +€28,536 | +50.5% |
| Amounts payable | 17/49 | €67,250 | €72,473 | +€5,223 | +7.8% |
| Amounts payable within one year | 42/48 | €67,224 | €72,421 | +€5,197 | +7.7% |
| Trade debts | 44 | €202 | €972 | +€769 | +380.0% |
| Suppliers | 440/4 | €202 | €972 | +€769 | +380.0% |
| Taxes, remuneration and social security | 45 | €2,633 | €7,095 | +€4,462 | +169.5% |
| Taxes | 450/3 | €1,890 | €6,352 | +€4,462 | +236.1% |
| Remuneration and social security | 454/9 | €744 | €744 | = | 0.0% |
| Other amounts payable | 47/48 | €64,389 | €64,354 | -€34 | -0.1% |
| Accrued charges and deferred income | 492/3 | €26 | €51 | +€26 | +100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,344 | €3,410 | +€66 | +2.0% |
| Other operating charges | 640/8 | €1,072 | €3,018 | +€1,946 | +181.5% |
| Non-recurring operating charges | 66A | €255 | €121 | -€134 | -52.4% |
| Gross operating margin | 9900 | €37,490 | €49,694 | +€12,205 | +32.6% |
| Operating profit (loss) | 9901 | €32,819 | €43,146 | +€10,327 | +31.5% |
| Financial charges | 65/66B | €102 | €215 | +€112 | +109.8% |
| Recurring financial charges | 65 | €102 | €215 | +€112 | +109.8% |
| Profit (loss) for the period before taxes | 9903 | €32,716 | €42,931 | +€10,215 | +31.2% |
| Income taxes | 67/77 | €11,758 | €14,853 | +€3,095 | +26.3% |
| Profit (loss) for the period | 9904 | €20,958 | €28,078 | +€7,119 | +34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,958 | €28,078 | +€7,119 | +34.0% |
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 5 October 2026 via checked.be.