ACTION 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.
ACTION LINE
Largest movements
- Receivables within one year +€131,632
up €131,632 (+80.9%), from €162,775 to €294,407
of which Trade receivables: +€134,366
- Current investments -€22,004
down €22,004 (-51.3%), from €42,871 to €20,867
- Deferred charges and accrued income -€5,949
no longer reported in 2025 (was €5,949)
- Trade debts +€123,289
up €123,289 (+126.0%), from €97,874 to €221,163
- Contributions -€54,741
down €54,741 (-63.9%), from €85,727 to €30,987
- Reserves +€54,741
new in 2025: €54,741
- Profit (loss) carried forward -€17,375
down €17,375 (-58.3%), from €29,804 to €12,429
- Tax, wage and social debts -€3,490
no longer reported in 2025 (was €3,490)
- Gross operating margin +€6,185
up €6,185 (+28.4%), from -€21,775 to -€15,589
- Financial charges +€717
up €717 (+177.8%), from €404 to €1,121
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 | €217,166 | €319,621 | +€102,455 | +47.2% |
| Fixed assets | 21/28 | €268 | €132 | -€136 | -50.7% |
| Tangible fixed assets | 22/27 | €268 | €132 | -€136 | -50.7% |
| Furniture and vehicles | 24 | €268 | €132 | -€136 | -50.7% |
| Current assets | 29/58 | €216,897 | €319,489 | +€102,591 | +47.3% |
| Amounts receivable within one year | 40/41 | €162,775 | €294,407 | +€131,632 | +80.9% |
| Trade receivables | 40 | €154,652 | €289,018 | +€134,366 | +86.9% |
| Other amounts receivable | 41 | €8,123 | €5,388 | -€2,735 | -33.7% |
| Current investments | 50/53 | €42,871 | €20,867 | -€22,004 | -51.3% |
| Cash at bank and in hand | 54/58 | €5,302 | €4,215 | -€1,087 | -20.5% |
| Deferred charges and accrued income | 490/1 | €5,949 | - | -€5,949 | |
| Total equity and liabilities | 10/49 | €217,166 | €319,621 | +€102,455 | +47.2% |
| Equity | 10/15 | €115,532 | €98,156 | -€17,375 | -15.0% |
| Contributions | 10/11 | €85,727 | €30,987 | -€54,741 | -63.9% |
| Outside capital | 11 | €85,727 | - | -€85,727 | |
| Other | 1109/19 | €85,727 | - | -€85,727 | |
| Reserves | 13 | - | €54,741 | +€54,741 | |
| Distributable reserves | 133 | - | €54,741 | +€54,741 | |
| Profit (loss) carried forward | 14 | €29,804 | €12,429 | -€17,375 | -58.3% |
| Amounts payable | 17/49 | €101,634 | €221,465 | +€119,831 | +117.9% |
| Amounts payable within one year | 42/48 | €101,634 | €221,465 | +€119,831 | +117.9% |
| Trade debts | 44 | €97,874 | €221,163 | +€123,289 | +126.0% |
| Suppliers | 440/4 | €97,874 | €221,163 | +€123,289 | +126.0% |
| Taxes, remuneration and social security | 45 | €3,490 | - | -€3,490 | |
| Remuneration and social security | 454/9 | €3,490 | - | -€3,490 | |
| Other amounts payable | 47/48 | €270 | €301 | +€32 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €228 | €136 | -€92 | -40.4% |
| Other operating charges | 640/8 | €935 | €767 | -€168 | -18.0% |
| Gross operating margin | 9900 | -€21,775 | -€15,589 | +€6,185 | +28.4% |
| Operating profit (loss) | 9901 | -€22,938 | -€16,492 | +€6,446 | +28.1% |
| Financial income | 75/76B | €488 | €375 | -€113 | -23.2% |
| Recurring financial income | 75 | €488 | €375 | -€113 | -23.2% |
| Financial charges | 65/66B | €404 | €1,121 | +€717 | +177.8% |
| Recurring financial charges | 65 | €404 | €1,121 | +€717 | +177.8% |
| Profit (loss) for the period before taxes | 9903 | -€22,854 | -€17,239 | +€5,615 | +24.6% |
| Income taxes | 67/77 | €131 | €137 | +€6 | +4.6% |
| Profit (loss) for the period | 9904 | -€22,984 | -€17,375 | +€5,609 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,984 | -€17,375 | +€5,609 | +24.4% |
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 3 October 2026 via checked.be.