ADDED VALUE TRANSFORMATION: 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.
ADDED VALUE TRANSFORMATION
Largest movements
- Cash +€81,002
up €81,002 (+199.4%), from €40,631 to €121,633
mainly Net result for the year (+€64,567) and Tax, wage and social debts (+€8,793)
- Receivables within one year +€2,078
up €2,078 (+13.2%), from €15,795 to €17,873
of which Trade receivables: +€2,373
- Profit (loss) carried forward +€64,567
up €64,567 (+175.7%), from €36,743 to €101,310
- Tax, wage and social debts +€8,793
up €8,793 (+50.8%), from €17,299 to €26,091
- Advances received +€6,500
new in 2025: €6,500
- Trade debts +€2,854
up €2,854 (+263.5%), from €1,083 to €3,937
- Gross operating margin +€33,819
up €33,819 (+64.9%), from €52,069 to €85,887
- Taxes +€8,317
up €8,317 (+85.2%), from €9,761 to €18,078
- Other operating charges -€2,297
down €2,297 (-76.9%), from €2,989 to €692
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 | €58,157 | €140,871 | +€82,713 | +142.2% |
| Fixed assets | 21/28 | €1,241 | €694 | -€547 | -44.1% |
| Tangible fixed assets | 22/27 | €1,241 | €694 | -€547 | -44.1% |
| Plant, machinery and equipment | 23 | €1,241 | €694 | -€547 | -44.1% |
| Current assets | 29/58 | €56,916 | €140,177 | +€83,261 | +146.3% |
| Amounts receivable within one year | 40/41 | €15,795 | €17,873 | +€2,078 | +13.2% |
| Trade receivables | 40 | €15,500 | €17,873 | +€2,373 | +15.3% |
| Other amounts receivable | 41 | €295 | - | -€295 | |
| Cash at bank and in hand | 54/58 | €40,631 | €121,633 | +€81,002 | +199.4% |
| Deferred charges and accrued income | 490/1 | €490 | €671 | +€181 | +37.0% |
| Total equity and liabilities | 10/49 | €58,157 | €140,871 | +€82,713 | +142.2% |
| Equity | 10/15 | €39,743 | €104,310 | +€64,567 | +162.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,743 | €101,310 | +€64,567 | +175.7% |
| Amounts payable | 17/49 | €18,414 | €36,561 | +€18,146 | +98.5% |
| Amounts payable within one year | 42/48 | €18,414 | €36,561 | +€18,146 | +98.5% |
| Trade debts | 44 | €1,083 | €3,937 | +€2,854 | +263.5% |
| Suppliers | 440/4 | €1,083 | €3,937 | +€2,854 | +263.5% |
| Advances received on contracts in progress | 46 | - | €6,500 | +€6,500 | |
| Taxes, remuneration and social security | 45 | €17,299 | €26,091 | +€8,793 | +50.8% |
| Taxes | 450/3 | €17,299 | €26,091 | +€8,793 | +50.8% |
| Other amounts payable | 47/48 | €33 | €33 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €401 | €547 | +€147 | +36.6% |
| Other operating charges | 640/8 | €2,989 | €692 | -€2,297 | -76.9% |
| Gross operating margin | 9900 | €52,069 | €85,887 | +€33,819 | +64.9% |
| Operating profit (loss) | 9901 | €48,679 | €84,648 | +€35,969 | +73.9% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €2,177 | €2,003 | -€173 | -8.0% |
| Recurring financial charges | 65 | €2,177 | €2,003 | -€173 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €46,504 | €82,645 | +€36,141 | +77.7% |
| Income taxes | 67/77 | €9,761 | €18,078 | +€8,317 | +85.2% |
| Profit (loss) for the period | 9904 | €36,743 | €64,567 | +€27,824 | +75.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,743 | €64,567 | +€27,824 | +75.7% |
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 3 October 2026 via checked.be.