and why: what changed
Two fiscal 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.
and why
Largest movements
- Cash +€29,449
up €29,449 (+59.3%), from €49,653 to €79,103
mainly Net result for the year (+€64,113) and Receivables within one year (+€12,466)
- Receivables within one year -€12,466
down €12,466 (-27.0%), from €46,173 to €33,706
of which Trade receivables: -€12,466
- Tangible fixed assets +€7,841
new in 2025: €7,841
of which Land and buildings: +€4,724
- Profit (loss) carried forward +€64,113
up €64,113 (+197.9%), from €32,400 to €96,513
- Trade debts -€31,599
down €31,599 (-97.4%), from €32,438 to €839
- Other debts -€8,062
down €8,062 (-54.9%), from €14,687 to €6,625
- Tax, wage and social debts +€1,285
up €1,285 (+8.7%), from €14,769 to €16,054
of which Taxes: +€1,285
- Gross operating margin +€43,286
up €43,286 (+99.7%), from €43,417 to €86,704
- Taxes +€9,534
up €9,534 (+106.8%), from €8,927 to €18,461
- Depreciation +€1,053
new in 2025: €1,053
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.
Cash bridge derived
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 | €96,694 | €122,431 | +€25,737 | +26.6% |
| Fixed assets | 21/28 | - | €7,841 | +€7,841 | |
| Tangible fixed assets | 22/27 | - | €7,841 | +€7,841 | |
| Land and buildings | 22 | - | €4,724 | +€4,724 | |
| Plant, machinery and equipment | 23 | - | €700 | +€700 | |
| Furniture and vehicles | 24 | - | €2,417 | +€2,417 | |
| Current assets | 29/58 | €96,694 | €114,591 | +€17,896 | +18.5% |
| Amounts receivable within one year | 40/41 | €46,173 | €33,706 | -€12,466 | -27.0% |
| Trade receivables | 40 | €46,173 | €33,706 | -€12,466 | -27.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €49,653 | €79,103 | +€29,449 | +59.3% |
| Deferred charges and accrued income | 490/1 | €868 | €1,782 | +€913 | +105.2% |
| Total equity and liabilities | 10/49 | €96,694 | €122,431 | +€25,737 | +26.6% |
| Equity | 10/15 | €34,800 | €98,913 | +€64,113 | +184.2% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,400 | €96,513 | +€64,113 | +197.9% |
| Amounts payable | 17/49 | €61,894 | €23,518 | -€38,376 | -62.0% |
| Amounts payable within one year | 42/48 | €61,894 | €23,518 | -€38,376 | -62.0% |
| Trade debts | 44 | €32,438 | €839 | -€31,599 | -97.4% |
| Suppliers | 440/4 | €32,438 | €839 | -€31,599 | -97.4% |
| Taxes, remuneration and social security | 45 | €14,769 | €16,054 | +€1,285 | +8.7% |
| Taxes | 450/3 | €14,769 | €16,054 | +€1,285 | +8.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €14,687 | €6,625 | -€8,062 | -54.9% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,053 | +€1,053 | |
| Other operating charges | 640/8 | €400 | €803 | +€402 | +100.6% |
| Gross operating margin | 9900 | €43,417 | €86,704 | +€43,286 | +99.7% |
| Operating profit (loss) | 9901 | €43,017 | €84,848 | +€41,831 | +97.2% |
| Financial income | 75/76B | €19 | €127 | +€108 | +560.9% |
| Recurring financial income | 75 | €19 | €127 | +€108 | +560.9% |
| Financial charges | 65/66B | €1,709 | €2,400 | +€691 | +40.4% |
| Recurring financial charges | 65 | €1,709 | €2,400 | +€691 | +40.4% |
| Profit (loss) for the period before taxes | 9903 | €41,327 | €82,575 | +€41,247 | +99.8% |
| Income taxes | 67/77 | €8,927 | €18,461 | +€9,534 | +106.8% |
| Profit (loss) for the period | 9904 | €32,400 | €64,113 | +€31,713 | +97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,400 | €64,113 | +€31,713 | +97.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.