AM 2 PM: 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.
AM 2 PM
Largest movements
- Receivables within one year +€131,672
up €131,672 (+148%), from €89,218 to €220,890
of which Other amounts receivable: +€125,188
- Cash +€119,737
up €119,737 (+18.6%), from €643,317 to €763,053
mainly Other debts (+€624,598) and Net result for the year (+€457,059)
- Receivables after one year -€110,000
down €110,000 (-100%), from €110,000 to €0
- Deferred charges and accrued income +€36,930
up €36,930 (+1,596%), from €2,314 to €39,244
- Other debts +€624,598
up €624,598 (+19,189%), from €3,255 to €627,853
- Profit (loss) carried forward -€523,191
down €523,191 (-96.7%), from €540,936 to €17,745
- Reserves +€105,250
up €105,250 (+45.5%), from €231,550 to €336,800
- Tax, wage and social debts -€32,375
down €32,375 (-52.3%), from €61,925 to €29,550
- Gross operating margin -€87,701
down €87,701 (-12.6%), from €695,941 to €608,241
- Taxes -€15,372
down €15,372 (-9.2%), from €167,283 to €151,911
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 | €844,849 | €1,023,890 | +€179,042 | +21.2% |
| Fixed assets | 21/28 | - | €704 | +€704 | |
| Tangible fixed assets | 22/27 | - | €704 | +€704 | |
| Furniture and vehicles | 24 | - | €704 | +€704 | |
| Current assets | 29/58 | €844,849 | €1,023,187 | +€178,338 | +21.1% |
| Amounts receivable after more than one year | 29 | €110,000 | €0 | -€110,000 | -100% |
| Other amounts receivable | 291 | €110,000 | €0 | -€110,000 | -100% |
| Amounts receivable within one year | 40/41 | €89,218 | €220,890 | +€131,672 | +148% |
| Trade receivables | 40 | €39,218 | €45,702 | +€6,484 | +16.5% |
| Other amounts receivable | 41 | €50,000 | €175,188 | +€125,188 | +250% |
| Cash at bank and in hand | 54/58 | €643,317 | €763,053 | +€119,737 | +18.6% |
| Deferred charges and accrued income | 490/1 | €2,314 | €39,244 | +€36,930 | +1,596% |
| Total equity and liabilities | 10/49 | €844,849 | €1,023,890 | +€179,042 | +21.2% |
| Equity | 10/15 | €774,986 | €357,045 | -€417,941 | -53.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €231,550 | €336,800 | +€105,250 | +45.5% |
| Tax-exempt reserves | 132 | €231,550 | €336,800 | +€105,250 | +45.5% |
| Profit (loss) carried forward | 14 | €540,936 | €17,745 | -€523,191 | -96.7% |
| Amounts payable | 17/49 | €69,862 | €666,845 | +€596,983 | +855% |
| Amounts payable within one year | 42/48 | €69,112 | €658,642 | +€589,529 | +853% |
| Trade debts | 44 | €3,933 | €1,239 | -€2,693 | -68.5% |
| Suppliers | 440/4 | €3,933 | €1,239 | -€2,693 | -68.5% |
| Taxes, remuneration and social security | 45 | €61,925 | €29,550 | -€32,375 | -52.3% |
| Taxes | 450/3 | €61,925 | €29,550 | -€32,375 | -52.3% |
| Other amounts payable | 47/48 | €3,255 | €627,853 | +€624,598 | +19,189% |
| Accrued charges and deferred income | 492/3 | €750 | €8,203 | +€7,453 | +994% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €111 | +€111 | |
| Other operating charges | 640/8 | €479 | €1,159 | +€680 | +142% |
| Gross operating margin | 9900 | €695,941 | €608,241 | -€87,701 | -12.6% |
| Operating profit (loss) | 9901 | €695,463 | €606,971 | -€88,492 | -12.7% |
| Financial income | 75/76B | €1,158 | €5,472 | +€4,314 | +373% |
| Recurring financial income | 75 | €1,158 | €5,472 | +€4,314 | +373% |
| Financial charges | 65/66B | €2,447 | €3,473 | +€1,025 | +41.9% |
| Recurring financial charges | 65 | €2,447 | €3,473 | +€1,025 | +41.9% |
| Profit (loss) for the period before taxes | 9903 | €694,173 | €608,970 | -€85,203 | -12.3% |
| Income taxes | 67/77 | €167,283 | €151,911 | -€15,372 | -9.2% |
| Profit (loss) for the period | 9904 | €526,890 | €457,059 | -€69,831 | -13.3% |
| Transfer to tax-exempt reserves | 689 | €231,550 | €105,250 | -€126,300 | -54.5% |
| Profit (loss) for the period to be appropriated | 9905 | €295,340 | €351,809 | +€56,469 | +19.1% |
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.