ALL MODUL: 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.
ALL MODUL
Largest movements
- Receivables within one year +€291,725
up €291,725 (+42.7%), from €682,436 to €974,161
of which Trade receivables: +€245,181
- Cash -€43,659
down €43,659 (-40.1%), from €108,886 to €65,227
mainly Receivables within one year (-€291,725) and Investment in fixed assets (net) (-€50,402)
- Tangible fixed assets +€31,191
up €31,191 (+134%), from €23,322 to €54,513
- Trade debts +€173,521
up €173,521 (+27.5%), from €630,960 to €804,480
- Profit (loss) carried forward +€117,050
up €117,050 (+87.4%), from €133,905 to €250,955
- Tax, wage and social debts -€11,929
down €11,929 (-13.0%), from €91,671 to €79,742
of which Taxes: -€13,352
- Gross operating margin +€124,112
up €124,112 (+30.4%), from €408,450 to €532,562
- Taxes +€22,973
up €22,973 (+112%), from €20,483 to €43,456
- Staff costs +€15,932
up €15,932 (+4.8%), from €332,119 to €348,051
- Depreciation +€10,310
up €10,310 (+98.2%), from €10,498 to €20,808
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 | €876,941 | €1,155,626 | +€278,685 | +31.8% |
| Fixed assets | 21/28 | €85,180 | €114,773 | +€29,593 | +34.7% |
| Tangible fixed assets | 22/27 | €23,322 | €54,513 | +€31,191 | +134% |
| Furniture and vehicles | 24 | €23,322 | €54,513 | +€31,191 | +134% |
| Financial fixed assets | 28 | €61,858 | €60,260 | -€1,598 | -2.6% |
| Current assets | 29/58 | €791,761 | €1,040,853 | +€249,092 | +31.5% |
| Amounts receivable within one year | 40/41 | €682,436 | €974,161 | +€291,725 | +42.7% |
| Trade receivables | 40 | €682,436 | €927,617 | +€245,181 | +35.9% |
| Other amounts receivable | 41 | - | €46,544 | +€46,544 | |
| Cash at bank and in hand | 54/58 | €108,886 | €65,227 | -€43,659 | -40.1% |
| Deferred charges and accrued income | 490/1 | €439 | €1,465 | +€1,026 | +234% |
| Total equity and liabilities | 10/49 | €876,941 | €1,155,626 | +€278,685 | +31.8% |
| Equity | 10/15 | €154,310 | €271,360 | +€117,050 | +75.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €133,905 | €250,955 | +€117,050 | +87.4% |
| Amounts payable | 17/49 | €722,631 | €884,266 | +€161,635 | +22.4% |
| Amounts payable within one year | 42/48 | €722,631 | €884,222 | +€161,592 | +22.4% |
| Trade debts | 44 | €630,960 | €804,480 | +€173,521 | +27.5% |
| Suppliers | 440/4 | €630,960 | €804,480 | +€173,521 | +27.5% |
| Taxes, remuneration and social security | 45 | €91,671 | €79,742 | -€11,929 | -13.0% |
| Taxes | 450/3 | €57,764 | €44,412 | -€13,352 | -23.1% |
| Remuneration and social security | 454/9 | €33,907 | €35,330 | +€1,423 | +4.2% |
| Accrued charges and deferred income | 492/3 | - | €44 | +€44 | |
| Remuneration, social security and pensions | 62 | €332,119 | €348,051 | +€15,932 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,498 | €20,808 | +€10,310 | +98.2% |
| Other operating charges | 640/8 | €1,248 | €2,844 | +€1,596 | +128% |
| Gross operating margin | 9900 | €408,450 | €532,562 | +€124,112 | +30.4% |
| Operating profit (loss) | 9901 | €64,584 | €160,858 | +€96,274 | +149% |
| Financial income | 75/76B | €1,468 | €0 | -€1,467 | -100.0% |
| Recurring financial income | 75 | €1,468 | €0 | -€1,467 | -100.0% |
| Financial charges | 65/66B | €478 | €352 | -€126 | -26.3% |
| Recurring financial charges | 65 | €478 | €352 | -€126 | -26.3% |
| Profit (loss) for the period before taxes | 9903 | €65,574 | €160,506 | +€94,933 | +145% |
| Income taxes | 67/77 | €20,483 | €43,456 | +€22,973 | +112% |
| Profit (loss) for the period | 9904 | €45,091 | €117,050 | +€71,959 | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €45,091 | €117,050 | +€71,959 | +160% |
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 14 October 2026 via checked.be.