Addendum: 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.
Addendum
Largest movements
- Receivables within one year +€129,722
up €129,722 (+139.8%), from €92,769 to €222,491
of which Trade receivables: +€221,654
- Cash -€24,429
down €24,429 (-41.3%), from €59,111 to €34,683
mainly Contributions, distributions and other (-€345,000) and Receivables within one year (-€129,722)
- Other debts +€138,884
up €138,884 (+6294.8%), from €2,206 to €141,091
- Reserves -€52,283
down €52,283 (-42.6%), from €122,664 to €70,381
- Tax, wage and social debts +€19,838
up €19,838 (+271.7%), from €7,302 to €27,139
- Gross operating margin +€232,629
up €232,629 (+143.8%), from €161,718 to €394,347
- Taxes +€59,226
up €59,226 (+142.7%), from €41,510 to €100,736
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 | €152,092 | €257,598 | +€105,506 | +69.4% |
| Fixed assets | 21/28 | - | €203 | +€203 | |
| Tangible fixed assets | 22/27 | - | €203 | +€203 | |
| Furniture and vehicles | 24 | - | €203 | +€203 | |
| Current assets | 29/58 | €152,092 | €257,395 | +€105,304 | +69.2% |
| Amounts receivable within one year | 40/41 | €92,769 | €222,491 | +€129,722 | +139.8% |
| Trade receivables | 40 | €837 | €222,491 | +€221,654 | +26480.4% |
| Other amounts receivable | 41 | €91,932 | - | -€91,932 | |
| Cash at bank and in hand | 54/58 | €59,111 | €34,683 | -€24,429 | -41.3% |
| Deferred charges and accrued income | 490/1 | €211 | €221 | +€10 | +4.7% |
| Total equity and liabilities | 10/49 | €152,092 | €257,598 | +€105,506 | +69.4% |
| Equity | 10/15 | €141,264 | €88,981 | -€52,283 | -37.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €122,664 | €70,381 | -€52,283 | -42.6% |
| Distributable reserves | 133 | €122,664 | €70,381 | -€52,283 | -42.6% |
| Amounts payable | 17/49 | €10,828 | €168,617 | +€157,790 | +1457.3% |
| Amounts payable within one year | 42/48 | €10,740 | €168,528 | +€157,788 | +1469.2% |
| Trade debts | 44 | €1,232 | €298 | -€934 | -75.8% |
| Suppliers | 440/4 | €1,232 | €298 | -€934 | -75.8% |
| Taxes, remuneration and social security | 45 | €7,302 | €27,139 | +€19,838 | +271.7% |
| Taxes | 450/3 | €7,302 | €27,139 | +€19,838 | +271.7% |
| Other amounts payable | 47/48 | €2,206 | €141,091 | +€138,884 | +6294.8% |
| Accrued charges and deferred income | 492/3 | €88 | €89 | +€2 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €93 | +€93 | |
| Other operating charges | 640/8 | €560 | €472 | -€88 | -15.7% |
| Gross operating margin | 9900 | €161,718 | €394,347 | +€232,629 | +143.8% |
| Operating profit (loss) | 9901 | €161,158 | €393,782 | +€232,623 | +144.3% |
| Financial income | 75/76B | €1 | €2 | +€0 | +10.7% |
| Recurring financial income | 75 | €1 | €2 | +€0 | +10.7% |
| Financial charges | 65/66B | €355 | €331 | -€24 | -6.8% |
| Recurring financial charges | 65 | €355 | €331 | -€24 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €160,805 | €393,452 | +€232,648 | +144.7% |
| Income taxes | 67/77 | €41,510 | €100,736 | +€59,226 | +142.7% |
| Profit (loss) for the period | 9904 | €119,295 | €292,717 | +€173,422 | +145.4% |
| Profit (loss) for the period to be appropriated | 9905 | €119,295 | €292,717 | +€173,422 | +145.4% |
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 4 October 2026 via checked.be.