ALL TOGETHER: 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 TOGETHER
Largest movements
- Receivables within one year +€25,302
up €25,302 (+30.9%), from €81,760 to €107,062
of which Other amounts receivable: +€89,674
- Cash -€17,020
down €17,020 (-99.7%), from €17,070 to €50
mainly Receivables within one year (-€25,302) and Trade debts (-€12,890)
- Reserves +€16,730
up €16,730 (+2.7%), from €629,103 to €645,833
- Trade debts -€12,890
down €12,890 (-55.1%), from €23,379 to €10,489
- Gross operating margin -€21,889
down €21,889 (-56.3%), from €38,910 to €17,021
- Taxes -€5,636
down €5,636 (-35.0%), from €16,081 to €10,445
- Financial income +€3,172
up €3,172 (+21.7%), from €14,586 to €17,758
- Depreciation +€810
up €810 (+36.1%), from €2,247 to €3,057
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 | €674,495 | €684,624 | +€10,129 | +1.5% |
| Fixed assets | 21/28 | €64,153 | €65,581 | +€1,428 | +2.2% |
| Tangible fixed assets | 22/27 | €8,169 | €5,112 | -€3,057 | -37.4% |
| Furniture and vehicles | 24 | €8,169 | €5,112 | -€3,057 | -37.4% |
| Financial fixed assets | 28 | €55,984 | €60,469 | +€4,485 | +8.0% |
| Current assets | 29/58 | €610,343 | €619,044 | +€8,701 | +1.4% |
| Amounts receivable after more than one year | 29 | €510,000 | €510,000 | = | 0.0% |
| Other amounts receivable | 291 | €510,000 | €510,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €81,760 | €107,062 | +€25,302 | +30.9% |
| Trade receivables | 40 | €65,662 | €1,290 | -€64,372 | -98.0% |
| Other amounts receivable | 41 | €16,098 | €105,772 | +€89,674 | +557% |
| Cash at bank and in hand | 54/58 | €17,070 | €50 | -€17,020 | -99.7% |
| Deferred charges and accrued income | 490/1 | €1,513 | €1,931 | +€418 | +27.6% |
| Total equity and liabilities | 10/49 | €674,495 | €684,624 | +€10,129 | +1.5% |
| Equity | 10/15 | €641,503 | €658,233 | +€16,730 | +2.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €629,103 | €645,833 | +€16,730 | +2.7% |
| Distributable reserves | 133 | €629,103 | €645,833 | +€16,730 | +2.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €32,992 | €26,392 | -€6,601 | -20.0% |
| Amounts payable within one year | 42/48 | €32,992 | €26,392 | -€6,601 | -20.0% |
| Financial debts | 43 | - | €499 | +€499 | |
| Credit institutions | 430/8 | - | €499 | +€499 | |
| Trade debts | 44 | €23,379 | €10,489 | -€12,890 | -55.1% |
| Suppliers | 440/4 | €23,379 | €10,489 | -€12,890 | -55.1% |
| Taxes, remuneration and social security | 45 | €9,614 | €15,404 | +€5,790 | +60.2% |
| Taxes | 450/3 | €9,614 | €15,404 | +€5,790 | +60.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €1,520 | €0 | -€1,520 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,247 | €3,057 | +€810 | +36.1% |
| Other operating charges | 640/8 | €1,186 | €998 | -€188 | -15.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €38,910 | €17,021 | -€21,889 | -56.3% |
| Operating profit (loss) | 9901 | €35,477 | €12,966 | -€22,511 | -63.5% |
| Financial income | 75/76B | €14,586 | €17,758 | +€3,172 | +21.7% |
| Recurring financial income | 75 | €14,586 | €17,758 | +€3,172 | +21.7% |
| Financial charges | 65/66B | €3,812 | €3,549 | -€263 | -6.9% |
| Recurring financial charges | 65 | €3,812 | €3,549 | -€263 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €46,251 | €27,175 | -€19,076 | -41.2% |
| Income taxes | 67/77 | €16,081 | €10,445 | -€5,636 | -35.0% |
| Profit (loss) for the period | 9904 | €30,169 | €16,730 | -€13,440 | -44.5% |
| Profit (loss) for the period to be appropriated | 9905 | €30,169 | €16,730 | -€13,440 | -44.5% |
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 20 October 2026 via checked.be.