After the Sunset: 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.
After the Sunset
Largest movements
- Current investments +€58,095
up €58,095 (+1,162%), from €5,000 to €63,095
- Receivables within one year +€46,827
up €46,827 (+187%), from €25,025 to €71,852
of which Trade receivables: +€44,230
- Cash -€30,862
down €30,862 (-32.9%), from €93,834 to €62,972
mainly Current investments (-€58,095) and Receivables within one year (-€46,827)
- Deferred charges and accrued income -€8,529
down €8,529 (-99.6%), from €8,563 to €34
- Tangible fixed assets +€3,579
up €3,579 (+276%), from €1,299 to €4,877
of which Other tangible fixed assets: +€4,281
- Reserves +€67,382
up €67,382 (+68.0%), from €99,028 to €166,409
- Tax, wage and social debts -€22,039
down €22,039 (-65.1%), from €33,851 to €11,812
- Trade debts +€15,859
up €15,859 (+3,516%), from €451 to €16,310
- Other debts +€8,200
new in 2025: €8,200
- Gross operating margin +€29,191
up €29,191 (+46.1%), from €63,309 to €92,499
- Taxes +€3,043
up €3,043 (+21.9%), from €13,878 to €16,921
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 | €133,721 | €202,831 | +€69,111 | +51.7% |
| Fixed assets | 21/28 | €1,299 | €4,877 | +€3,579 | +276% |
| Tangible fixed assets | 22/27 | €1,299 | €4,877 | +€3,579 | +276% |
| Plant, machinery and equipment | 23 | €1,299 | €596 | -€702 | -54.1% |
| Other tangible fixed assets | 26 | - | €4,281 | +€4,281 | |
| Current assets | 29/58 | €132,422 | €197,954 | +€65,532 | +49.5% |
| Amounts receivable within one year | 40/41 | €25,025 | €71,852 | +€46,827 | +187% |
| Trade receivables | 40 | - | €44,230 | +€44,230 | |
| Other amounts receivable | 41 | €25,025 | €27,622 | +€2,597 | +10.4% |
| Current investments | 50/53 | €5,000 | €63,095 | +€58,095 | +1,162% |
| Cash at bank and in hand | 54/58 | €93,834 | €62,972 | -€30,862 | -32.9% |
| Deferred charges and accrued income | 490/1 | €8,563 | €34 | -€8,529 | -99.6% |
| Total equity and liabilities | 10/49 | €133,721 | €202,831 | +€69,111 | +51.7% |
| Equity | 10/15 | €99,128 | €166,509 | +€67,382 | +68.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €99,028 | €166,409 | +€67,382 | +68.0% |
| Distributable reserves | 133 | €99,028 | €166,409 | +€67,382 | +68.0% |
| Amounts payable | 17/49 | €34,593 | €36,322 | +€1,729 | +5.0% |
| Amounts payable within one year | 42/48 | €34,302 | €36,322 | +€2,020 | +5.9% |
| Trade debts | 44 | €451 | €16,310 | +€15,859 | +3,516% |
| Suppliers | 440/4 | €451 | €16,310 | +€15,859 | +3,516% |
| Taxes, remuneration and social security | 45 | €33,851 | €11,812 | -€22,039 | -65.1% |
| Taxes | 450/3 | €33,851 | €11,812 | -€22,039 | -65.1% |
| Other amounts payable | 47/48 | - | €8,200 | +€8,200 | |
| Accrued charges and deferred income | 492/3 | €291 | - | -€291 | |
| Remuneration, social security and pensions | 62 | €76 | - | -€76 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €702 | €934 | +€232 | +33.0% |
| Other operating charges | 640/8 | €589 | €577 | -€12 | -2.0% |
| Gross operating margin | 9900 | €63,309 | €92,499 | +€29,191 | +46.1% |
| Operating profit (loss) | 9901 | €61,942 | €90,988 | +€29,046 | +46.9% |
| Financial income | 75/76B | €1,253 | €1,619 | +€366 | +29.2% |
| Recurring financial income | 75 | €1,253 | €1,619 | +€366 | +29.2% |
| Financial charges | 65/66B | €112 | €105 | -€7 | -5.9% |
| Recurring financial charges | 65 | €112 | €105 | -€7 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €63,083 | €92,502 | +€29,419 | +46.6% |
| Income taxes | 67/77 | €13,878 | €16,921 | +€3,043 | +21.9% |
| Profit (loss) for the period | 9904 | €49,205 | €75,582 | +€26,376 | +53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €49,205 | €75,582 | +€26,376 | +53.6% |
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 26 October 2026 via checked.be.