A16W: 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.
A16W
Largest movements
- Cash +€102,369
up €102,369 (+1214.4%), from €8,430 to €110,798
mainly Net result for the year (+€152,400) and Depreciation (+€11,407)
- Tangible fixed assets -€9,120
down €9,120 (-38.5%), from €23,704 to €14,584
of which Furniture and vehicles: -€6,081
- Receivables within one year +€3,952
up €3,952 (+12.7%), from €31,002 to €34,954
of which Trade receivables: +€3,448
- Reserves +€108,613
up €108,613 (+66.0%), from €164,476 to €273,089
- Debts after one year -€13,934
down €13,934 (-16.6%), from €83,934 to €70,000
- Other debts +€4,634
new in 2025: €4,634
- Gross operating margin +€35,688
up €35,688 (+19.0%), from €188,188 to €223,876
- Taxes +€9,493
up €9,493 (+21.2%), from €44,864 to €54,357
- Depreciation -€3,683
down €3,683 (-24.4%), from €15,089 to €11,407
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 | €267,382 | €364,611 | +€97,228 | +36.4% |
| Fixed assets | 21/28 | €226,690 | €217,570 | -€9,120 | -4.0% |
| Tangible fixed assets | 22/27 | €23,704 | €14,584 | -€9,120 | -38.5% |
| Land and buildings | 22 | €8,051 | €5,012 | -€3,039 | -37.7% |
| Furniture and vehicles | 24 | €15,654 | €9,573 | -€6,081 | -38.8% |
| Financial fixed assets | 28 | €202,986 | €202,986 | = | 0.0% |
| Current assets | 29/58 | €40,692 | €147,040 | +€106,348 | +261.3% |
| Amounts receivable within one year | 40/41 | €31,002 | €34,954 | +€3,952 | +12.7% |
| Trade receivables | 40 | €26,366 | €29,814 | +€3,448 | +13.1% |
| Other amounts receivable | 41 | €4,636 | €5,140 | +€504 | +10.9% |
| Cash at bank and in hand | 54/58 | €8,430 | €110,798 | +€102,369 | +1214.4% |
| Deferred charges and accrued income | 490/1 | €1,261 | €1,288 | +€28 | +2.2% |
| Total equity and liabilities | 10/49 | €267,382 | €364,611 | +€97,228 | +36.4% |
| Equity | 10/15 | €169,476 | €278,089 | +€108,613 | +64.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €164,476 | €273,089 | +€108,613 | +66.0% |
| Distributable reserves | 133 | €164,476 | €273,089 | +€108,613 | +66.0% |
| Amounts payable | 17/49 | €97,907 | €86,522 | -€11,385 | -11.6% |
| Amounts payable after more than one year | 17 | €83,934 | €70,000 | -€13,934 | -16.6% |
| Financial debts | 170/4 | €83,934 | €70,000 | -€13,934 | -16.6% |
| Amounts payable within one year | 42/48 | €13,973 | €16,522 | +€2,549 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | €3,123 | - | -€3,123 | |
| Trade debts | 44 | €353 | €1,042 | +€689 | +195.2% |
| Suppliers | 440/4 | €353 | €1,042 | +€689 | +195.2% |
| Taxes, remuneration and social security | 45 | €10,497 | €10,846 | +€349 | +3.3% |
| Taxes | 450/3 | €8,872 | €9,471 | +€599 | +6.7% |
| Remuneration and social security | 454/9 | €1,625 | €1,375 | -€250 | -15.4% |
| Other amounts payable | 47/48 | - | €4,634 | +€4,634 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,089 | €11,407 | -€3,683 | -24.4% |
| Other operating charges | 640/8 | €564 | €569 | +€5 | +0.8% |
| Gross operating margin | 9900 | €188,188 | €223,876 | +€35,688 | +19.0% |
| Operating profit (loss) | 9901 | €172,534 | €211,900 | +€39,367 | +22.8% |
| Financial income | 75/76B | €63 | €502 | +€438 | +690.9% |
| Recurring financial income | 75 | €63 | €502 | +€438 | +690.9% |
| Financial charges | 65/66B | €7,044 | €5,645 | -€1,398 | -19.9% |
| Recurring financial charges | 65 | €7,044 | €5,645 | -€1,398 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €165,553 | €206,756 | +€41,203 | +24.9% |
| Income taxes | 67/77 | €44,864 | €54,357 | +€9,493 | +21.2% |
| Profit (loss) for the period | 9904 | €120,689 | €152,400 | +€31,711 | +26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €120,689 | €152,400 | +€31,711 | +26.3% |
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.