ACTIF PASSIF: 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.
ACTIF PASSIF
Largest movements
- Cash +€18,822
up €18,822 (+17.3%), from €108,704 to €127,526
mainly Net result for the year (+€25,508) and Other debts (+€8,281)
- Receivables within one year +€12,045
up €12,045 (+15.0%), from €80,313 to €92,357
of which Trade receivables: +€12,852
- Reserves +€15,500
up €15,500 (+13.5%), from €114,925 to €130,425
of which Distributable reserves: +€15,500
- Other debts +€8,281
up €8,281 (+237%), from €3,495 to €11,776
- Trade debts +€6,087
up €6,087 (+61.8%), from €9,849 to €15,935
- Gross operating margin +€2,335
up €2,335 (+5.3%), from €44,094 to €46,429
- Taxes +€1,804
up €1,804 (+14.8%), from €12,184 to €13,988
- Financial charges +€996
up €996 (+76.2%), from €1,308 to €2,304
- Financial income +€702
up €702 (+13,989%), from €5 to €707
- Depreciation -€495
no longer reported in 2025 (was €495)
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 | €192,073 | €222,577 | +€30,504 | +15.9% |
| Fixed assets | 21/28 | €200 | €200 | = | 0.0% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €191,873 | €222,377 | +€30,504 | +15.9% |
| Amounts receivable within one year | 40/41 | €80,313 | €92,357 | +€12,045 | +15.0% |
| Trade receivables | 40 | €79,506 | €92,357 | +€12,852 | +16.2% |
| Other amounts receivable | 41 | €807 | - | -€807 | |
| Cash at bank and in hand | 54/58 | €108,704 | €127,526 | +€18,822 | +17.3% |
| Deferred charges and accrued income | 490/1 | €2,856 | €2,494 | -€362 | -12.7% |
| Total equity and liabilities | 10/49 | €192,073 | €222,577 | +€30,504 | +15.9% |
| Equity | 10/15 | €173,821 | €189,330 | +€15,508 | +8.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €114,925 | €130,425 | +€15,500 | +13.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €66 | €66 | = | 0.0% |
| Distributable reserves | 133 | €113,000 | €128,500 | +€15,500 | +13.7% |
| Profit (loss) carried forward | 14 | €52,696 | €52,704 | +€8 | 0.0% |
| Amounts payable | 17/49 | €18,252 | €33,247 | +€14,996 | +82.2% |
| Amounts payable within one year | 42/48 | €18,252 | €33,247 | +€14,996 | +82.2% |
| Financial debts | 43 | €1,723 | €1,715 | -€9 | -0.5% |
| Credit institutions | 430/8 | €1,723 | €1,715 | -€9 | -0.5% |
| Trade debts | 44 | €9,849 | €15,935 | +€6,087 | +61.8% |
| Suppliers | 440/4 | €9,849 | €15,935 | +€6,087 | +61.8% |
| Taxes, remuneration and social security | 45 | €3,184 | €3,821 | +€637 | +20.0% |
| Taxes | 450/3 | €3,184 | €3,821 | +€637 | +20.0% |
| Other amounts payable | 47/48 | €3,495 | €11,776 | +€8,281 | +237% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €495 | - | -€495 | |
| Other operating charges | 640/8 | €1,454 | €1,632 | +€178 | +12.3% |
| Non-recurring operating charges | 66A | €4,543 | €3,704 | -€839 | -18.5% |
| Gross operating margin | 9900 | €44,094 | €46,429 | +€2,335 | +5.3% |
| Operating profit (loss) | 9901 | €37,603 | €41,093 | +€3,490 | +9.3% |
| Financial income | 75/76B | €5 | €707 | +€702 | +13,989% |
| Recurring financial income | 75 | €5 | €707 | +€702 | +13,989% |
| Financial charges | 65/66B | €1,308 | €2,304 | +€996 | +76.2% |
| Recurring financial charges | 65 | €1,308 | €2,304 | +€996 | +76.2% |
| Profit (loss) for the period before taxes | 9903 | €36,300 | €39,496 | +€3,196 | +8.8% |
| Income taxes | 67/77 | €12,184 | €13,988 | +€1,804 | +14.8% |
| Profit (loss) for the period | 9904 | €24,116 | €25,508 | +€1,393 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,116 | €25,508 | +€1,393 | +5.8% |
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 23 October 2026 via checked.be.