Algorithme Valeurs IF: 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.
Algorithme Valeurs IF
Largest movements
- Cash +€46,970
up €46,970 (+89.9%), from €52,229 to €99,199
mainly Net result for the year (+€65,823) and Other debts (+€53,516)
- Tangible fixed assets +€6,626
up €6,626 (+50.5%), from €13,123 to €19,749
- Receivables within one year +€3,842
up €3,842 (+12.8%), from €29,982 to €33,824
of which Trade receivables: +€5,683
- Other debts +€53,516
up €53,516 (+466%), from €11,484 to €65,000
- Tax, wage and social debts +€4,298
up €4,298 (+41.0%), from €10,487 to €14,785
- Gross operating margin +€59,024
up €59,024 (+161%), from €36,651 to €95,675
- Taxes +€11,360
up €11,360 (+168%), from €6,760 to €18,120
- Depreciation +€5,129
up €5,129 (+134%), from €3,815 to €8,945
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 | €114,597 | €171,926 | +€57,329 | +50.0% |
| Fixed assets | 21/28 | €13,153 | €19,779 | +€6,626 | +50.4% |
| Tangible fixed assets | 22/27 | €13,123 | €19,749 | +€6,626 | +50.5% |
| Furniture and vehicles | 24 | €13,123 | €19,749 | +€6,626 | +50.5% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €101,444 | €152,147 | +€50,703 | +50.0% |
| Amounts receivable after more than one year | 29 | €19,000 | €19,000 | = | 0.0% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €19,000 | €19,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €29,982 | €33,824 | +€3,842 | +12.8% |
| Trade receivables | 40 | €26,647 | €32,330 | +€5,683 | +21.3% |
| Other amounts receivable | 41 | €3,335 | €1,494 | -€1,841 | -55.2% |
| Cash at bank and in hand | 54/58 | €52,229 | €99,199 | +€46,970 | +89.9% |
| Deferred charges and accrued income | 490/1 | €233 | €124 | -€109 | -46.9% |
| Total equity and liabilities | 10/49 | €114,597 | €171,926 | +€57,329 | +50.0% |
| Equity | 10/15 | €90,634 | €91,457 | +€823 | +0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €71,704 | €71,704 | = | 0.0% |
| Distributable reserves | 133 | €71,704 | €71,704 | = | 0.0% |
| Profit (loss) carried forward | 14 | €330 | €1,153 | +€823 | +249% |
| Amounts payable | 17/49 | €23,963 | €80,469 | +€56,506 | +236% |
| Amounts payable within one year | 42/48 | €23,963 | €80,469 | +€56,506 | +236% |
| Trade debts | 44 | €1,992 | €684 | -€1,308 | -65.7% |
| Suppliers | 440/4 | €1,992 | €684 | -€1,308 | -65.7% |
| Taxes, remuneration and social security | 45 | €10,487 | €14,785 | +€4,298 | +41.0% |
| Taxes | 450/3 | €10,487 | €14,785 | +€4,298 | +41.0% |
| Other amounts payable | 47/48 | €11,484 | €65,000 | +€53,516 | +466% |
| Non-recurring operating income | 76A | - | €15,518 | +€15,518 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,815 | €8,945 | +€5,129 | +134% |
| Other operating charges | 640/8 | €906 | €1,720 | +€814 | +89.9% |
| Non-recurring operating charges | 66A | - | €1,356 | +€1,356 | |
| Gross operating margin | 9900 | €36,651 | €95,675 | +€59,024 | +161% |
| Operating profit (loss) | 9901 | €31,930 | €83,654 | +€51,724 | +162% |
| Financial income | 75/76B | €380 | €460 | +€80 | +21.0% |
| Recurring financial income | 75 | €380 | €460 | +€80 | +21.0% |
| Financial charges | 65/66B | €808 | €170 | -€638 | -78.9% |
| Recurring financial charges | 65 | €808 | €170 | -€638 | -78.9% |
| Profit (loss) for the period before taxes | 9903 | €31,502 | €83,943 | +€52,441 | +166% |
| Income taxes | 67/77 | €6,760 | €18,120 | +€11,360 | +168% |
| Profit (loss) for the period | 9904 | €24,742 | €65,823 | +€41,081 | +166% |
| Profit (loss) for the period to be appropriated | 9905 | €24,742 | €65,823 | +€41,081 | +166% |
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 15 October 2026 via checked.be.