A SOUND: 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 SOUND
Largest movements
- Cash +€306,486
up €306,486 (+3130.7%), from €9,790 to €316,276
mainly Current investments (+€252,000) and Net result for the year (+€35,914)
- Current investments -€252,000
no longer reported in 2025 (was €252,000)
- Receivables within one year -€8,107
down €8,107 (-12.0%), from €67,776 to €59,669
of which Other amounts receivable: -€7,041
- Tangible fixed assets -€4,085
down €4,085 (-55.2%), from €7,395 to €3,310
of which Plant, machinery and equipment: -€4,006
- Reserves +€35,914
up €35,914 (+15.0%), from €238,833 to €274,747
of which Distributable reserves: +€42,114
- Trade debts +€4,566
up €4,566 (+11.9%), from €38,339 to €42,905
- Gross operating margin -€11,281
down €11,281 (-17.5%), from €64,619 to €53,338
- Depreciation -€5,363
down €5,363 (-56.8%), from €9,448 to €4,085
- Financial income -€4,145
down €4,145 (-67.0%), from €6,191 to €2,046
- Taxes -€2,484
down €2,484 (-14.5%), from €17,112 to €14,628
- Other operating charges -€1,408
down €1,408 (-72.0%), from €1,957 to €548
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 | €340,812 | €383,822 | +€43,010 | +12.6% |
| Fixed assets | 21/28 | €7,395 | €3,310 | -€4,085 | -55.2% |
| Tangible fixed assets | 22/27 | €7,395 | €3,310 | -€4,085 | -55.2% |
| Plant, machinery and equipment | 23 | €7,008 | €3,002 | -€4,006 | -57.2% |
| Furniture and vehicles | 24 | €387 | €308 | -€79 | -20.4% |
| Current assets | 29/58 | €333,417 | €380,512 | +€47,095 | +14.1% |
| Amounts receivable within one year | 40/41 | €67,776 | €59,669 | -€8,107 | -12.0% |
| Trade receivables | 40 | €49,811 | €48,746 | -€1,065 | -2.1% |
| Other amounts receivable | 41 | €17,965 | €10,924 | -€7,041 | -39.2% |
| Current investments | 50/53 | €252,000 | - | -€252,000 | |
| Cash at bank and in hand | 54/58 | €9,790 | €316,276 | +€306,486 | +3130.7% |
| Deferred charges and accrued income | 490/1 | €3,851 | €4,566 | +€715 | +18.6% |
| Total equity and liabilities | 10/49 | €340,812 | €383,822 | +€43,010 | +12.6% |
| Equity | 10/15 | €300,833 | €336,747 | +€35,914 | +11.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €238,833 | €274,747 | +€35,914 | +15.0% |
| Non-distributable reserves | 130/1 | €6,200 | - | -€6,200 | |
| Legal reserve | 130 | €6,200 | - | -€6,200 | |
| Distributable reserves | 133 | €232,633 | €274,747 | +€42,114 | +18.1% |
| Amounts payable | 17/49 | €39,979 | €47,075 | +€7,096 | +17.7% |
| Amounts payable within one year | 42/48 | €39,967 | €47,075 | +€7,107 | +17.8% |
| Financial debts | 43 | - | €2,239 | +€2,239 | |
| Credit institutions | 430/8 | - | €2,239 | +€2,239 | |
| Trade debts | 44 | €38,339 | €42,905 | +€4,566 | +11.9% |
| Suppliers | 440/4 | €38,339 | €42,905 | +€4,566 | +11.9% |
| Taxes, remuneration and social security | 45 | €1,629 | €1,801 | +€172 | +10.6% |
| Taxes | 450/3 | €1,629 | €1,801 | +€172 | +10.6% |
| Other amounts payable | 47/48 | - | €130 | +€130 | |
| Accrued charges and deferred income | 492/3 | €12 | - | -€12 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,448 | €4,085 | -€5,363 | -56.8% |
| Other operating charges | 640/8 | €1,957 | €548 | -€1,408 | -72.0% |
| Gross operating margin | 9900 | €64,619 | €53,338 | -€11,281 | -17.5% |
| Operating profit (loss) | 9901 | €53,215 | €48,705 | -€4,510 | -8.5% |
| Financial income | 75/76B | €6,191 | €2,046 | -€4,145 | -67.0% |
| Recurring financial income | 75 | €6,191 | €2,046 | -€4,145 | -67.0% |
| Financial charges | 65/66B | €205 | €209 | +€4 | +2.0% |
| Recurring financial charges | 65 | €205 | €209 | +€4 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €59,201 | €50,542 | -€8,659 | -14.6% |
| Income taxes | 67/77 | €17,112 | €14,628 | -€2,484 | -14.5% |
| Profit (loss) for the period | 9904 | €42,089 | €35,914 | -€6,175 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €42,089 | €35,914 | -€6,175 | -14.7% |
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 6 October 2026 via checked.be.