ABOUT IT: 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.
ABOUT IT
Largest movements
- Receivables within one year +€153,176
up €153,176 (+104%), from €147,698 to €300,874
of which Trade receivables: +€156,912
- Cash +€27,213
up €27,213 (+61.3%), from €44,390 to €71,603
mainly Net result for the year (+€81,368) and Trade debts (+€41,674)
- Tangible fixed assets -€3,908
down €3,908 (-76.9%), from €5,084 to €1,176
- Profit (loss) carried forward +€81,368
up €81,368 (+1,271%), from €6,401 to €87,769
- Trade debts +€41,674
up €41,674 (+38.3%), from €108,790 to €150,464
- Accrued charges and deferred income +€30,000
new in 2025: €30,000
- Tax, wage and social debts +€21,299
up €21,299 (+129%), from €16,531 to €37,830
of which Taxes: +€13,521
- Gross operating margin +€130,034
up €130,034 (+98.1%), from €132,597 to €262,631
- Taxes +€21,880
up €21,880 (+618%), from €3,539 to €25,419
- Staff costs +€20,196
up €20,196 (+16.1%), from €125,069 to €145,265
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 | €202,182 | €376,523 | +€174,341 | +86.2% |
| Fixed assets | 21/28 | €5,084 | €1,176 | -€3,908 | -76.9% |
| Tangible fixed assets | 22/27 | €5,084 | €1,176 | -€3,908 | -76.9% |
| Plant, machinery and equipment | 23 | €5,084 | €1,176 | -€3,908 | -76.9% |
| Current assets | 29/58 | €197,098 | €375,347 | +€178,249 | +90.4% |
| Amounts receivable within one year | 40/41 | €147,698 | €300,874 | +€153,176 | +104% |
| Trade receivables | 40 | €131,703 | €288,615 | +€156,912 | +119% |
| Other amounts receivable | 41 | €15,995 | €12,260 | -€3,735 | -23.4% |
| Cash at bank and in hand | 54/58 | €44,390 | €71,603 | +€27,213 | +61.3% |
| Deferred charges and accrued income | 490/1 | €5,010 | €2,870 | -€2,140 | -42.7% |
| Total equity and liabilities | 10/49 | €202,182 | €376,523 | +€174,341 | +86.2% |
| Equity | 10/15 | €26,861 | €108,229 | +€81,368 | +303% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,401 | €87,769 | +€81,368 | +1,271% |
| Amounts payable | 17/49 | €175,321 | €268,294 | +€92,974 | +53.0% |
| Amounts payable within one year | 42/48 | €175,321 | €238,294 | +€62,974 | +35.9% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €108,790 | €150,464 | +€41,674 | +38.3% |
| Suppliers | 440/4 | €108,790 | €150,464 | +€41,674 | +38.3% |
| Taxes, remuneration and social security | 45 | €16,531 | €37,830 | +€21,299 | +129% |
| Taxes | 450/3 | €3,963 | €17,484 | +€13,521 | +341% |
| Remuneration and social security | 454/9 | €12,568 | €20,347 | +€7,778 | +61.9% |
| Accrued charges and deferred income | 492/3 | - | €30,000 | +€30,000 | |
| Remuneration, social security and pensions | 62 | €125,069 | €145,265 | +€20,196 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,278 | €3,908 | -€371 | -8.7% |
| Other operating charges | 640/8 | €1,029 | €1,368 | +€339 | +32.9% |
| Gross operating margin | 9900 | €132,597 | €262,631 | +€130,034 | +98.1% |
| Operating profit (loss) | 9901 | €2,222 | €112,091 | +€109,870 | +4,946% |
| Financial income | 75/76B | - | €57 | +€57 | |
| Recurring financial income | 75 | - | €57 | +€57 | |
| Financial charges | 65/66B | €6,231 | €5,362 | -€869 | -13.9% |
| Recurring financial charges | 65 | €6,231 | €5,362 | -€869 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,009 | €106,787 | +€110,796 | |
| Income taxes | 67/77 | €3,539 | €25,419 | +€21,880 | +618% |
| Profit (loss) for the period | 9904 | -€7,548 | €81,368 | +€88,915 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,548 | €81,368 | +€88,915 |
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 20 October 2026 via checked.be.