ANDRE BILLEN: 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.
ANDRE BILLEN
Largest movements
- Cash +€26,944
up €26,944 (+378.2%), from €7,125 to €34,069
mainly Net result for the year (+€59,847) and Depreciation (+€31,907)
- Receivables within one year +€19,251
up €19,251 (+191.7%), from €10,044 to €29,295
of which Trade receivables: +€10,852
- Deferred charges and accrued income +€6,659
up €6,659 (+122.7%), from €5,427 to €12,086
- Tangible fixed assets -€2,637
down €2,637 (-2.5%), from €107,470 to €104,833
of which Plant, machinery and equipment: -€15,918
- Reserves +€50,000
up €50,000 (+250.0%), from €20,000 to €70,000
- Debts after one year -€25,251
down €25,251 (-55.6%), from €45,425 to €20,174
- Profit (loss) carried forward +€9,847
up €9,847, from -€1,607 to €8,240
- Other debts +€7,787
up €7,787 (+20.9%), from €37,213 to €45,000
- Short-term financial debts +€4,454
new in 2025: €4,454
- Gross operating margin +€140,838
up €140,838 (+127.1%), from €110,789 to €251,627
- Staff costs +€77,667
up €77,667 (+111.4%), from €69,692 to €147,359
- Taxes +€7,586
new in 2025: €7,586
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 | €133,366 | €183,583 | +€50,217 | +37.7% |
| Fixed assets | 21/28 | €110,770 | €108,133 | -€2,637 | -2.4% |
| Tangible fixed assets | 22/27 | €107,470 | €104,833 | -€2,637 | -2.5% |
| Plant, machinery and equipment | 23 | €74,941 | €59,023 | -€15,918 | -21.2% |
| Furniture and vehicles | 24 | €4,683 | €29,580 | +€24,897 | +531.6% |
| Leasing and similar rights | 25 | €27,846 | €16,230 | -€11,616 | -41.7% |
| Financial fixed assets | 28 | €3,300 | €3,300 | = | 0.0% |
| Current assets | 29/58 | €22,596 | €75,450 | +€52,854 | +233.9% |
| Amounts receivable within one year | 40/41 | €10,044 | €29,295 | +€19,251 | +191.7% |
| Trade receivables | 40 | €1,177 | €12,029 | +€10,852 | +922.0% |
| Other amounts receivable | 41 | €8,867 | €17,266 | +€8,399 | +94.7% |
| Cash at bank and in hand | 54/58 | €7,125 | €34,069 | +€26,944 | +378.2% |
| Deferred charges and accrued income | 490/1 | €5,427 | €12,086 | +€6,659 | +122.7% |
| Total equity and liabilities | 10/49 | €133,366 | €183,583 | +€50,217 | +37.7% |
| Equity | 10/15 | €26,453 | €86,300 | +€59,847 | +226.2% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €20,000 | €70,000 | +€50,000 | +250.0% |
| Distributable reserves | 133 | €20,000 | €70,000 | +€50,000 | +250.0% |
| Profit (loss) carried forward | 14 | -€1,607 | €8,240 | +€9,847 | |
| Amounts payable | 17/49 | €106,913 | €97,283 | -€9,630 | -9.0% |
| Amounts payable after more than one year | 17 | €45,425 | €20,174 | -€25,251 | -55.6% |
| Financial debts | 170/4 | €45,425 | €20,174 | -€25,251 | -55.6% |
| Amounts payable within one year | 42/48 | €61,488 | €77,109 | +€15,621 | +25.4% |
| Current portion of amounts payable after more than one year | 42 | €24,077 | €25,250 | +€1,173 | +4.9% |
| Financial debts | 43 | - | €4,454 | +€4,454 | |
| Credit institutions | 430/8 | - | €4,454 | +€4,454 | |
| Trade debts | 44 | - | €1,721 | +€1,721 | |
| Suppliers | 440/4 | - | €1,721 | +€1,721 | |
| Taxes, remuneration and social security | 45 | €198 | €684 | +€486 | +245.5% |
| Taxes | 450/3 | - | €500 | +€500 | |
| Remuneration and social security | 454/9 | €198 | €184 | -€14 | -7.1% |
| Other amounts payable | 47/48 | €37,213 | €45,000 | +€7,787 | +20.9% |
| Remuneration, social security and pensions | 62 | €69,692 | €147,359 | +€77,667 | +111.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,445 | €31,907 | -€538 | -1.7% |
| Other operating charges | 640/8 | €1,808 | €1,903 | +€95 | +5.3% |
| Gross operating margin | 9900 | €110,789 | €251,627 | +€140,838 | +127.1% |
| Operating profit (loss) | 9901 | €6,844 | €70,458 | +€63,614 | +929.5% |
| Financial income | 75/76B | €1,969 | €3,267 | +€1,298 | +65.9% |
| Recurring financial income | 75 | €1,969 | €3,267 | +€1,298 | +65.9% |
| Financial charges | 65/66B | €6,049 | €6,292 | +€243 | +4.0% |
| Recurring financial charges | 65 | €6,049 | €6,292 | +€243 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €2,764 | €67,433 | +€64,669 | +2339.7% |
| Income taxes | 67/77 | - | €7,586 | +€7,586 | |
| Profit (loss) for the period | 9904 | €2,764 | €59,847 | +€57,083 | +2065.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,764 | €59,847 | +€57,083 | +2065.2% |
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.