ANDREW WU: 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.
ANDREW WU
Largest movements
- Cash +€128,050
up €128,050 (+3,070%), from €4,171 to €132,221
mainly Net result for the year (+€80,150) and Other debts (+€43,214)
- Tangible fixed assets +€47,196
up €47,196 (+90.8%), from €51,964 to €99,160
of which Furniture and vehicles: +€30,151
- Stocks and contracts +€5,271
new in 2025: €5,271
- Profit (loss) carried forward +€80,150
up €80,150, from -€7,197 to €72,953
- Other debts +€43,214
up €43,214 (+58.9%), from €73,309 to €116,523
- Tax, wage and social debts +€37,757
new in 2025: €37,757
of which Taxes: +€28,649
- Trade debts +€19,413
up €19,413 (+991%), from €1,959 to €21,371
- Gross operating margin +€197,569
up €197,569, from -€6,453 to €191,115
- Staff costs +€72,495
new in 2025: €72,495
- Taxes +€17,642
new in 2025: €17,642
- Depreciation +€12,025
up €12,025 (+5,405%), from €222 to €12,247
- Financial charges +€7,736
up €7,736 (+22,707%), from €34 to €7,770
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 | €71,070 | €251,605 | +€180,535 | +254% |
| Fixed assets | 21/28 | €51,964 | €99,464 | +€47,500 | +91.4% |
| Tangible fixed assets | 22/27 | €51,964 | €99,160 | +€47,196 | +90.8% |
| Furniture and vehicles | 24 | €10,358 | €40,509 | +€30,151 | +291% |
| Other tangible fixed assets | 26 | €41,606 | €58,651 | +€17,045 | +41.0% |
| Financial fixed assets | 28 | - | €304 | +€304 | |
| Current assets | 29/58 | €19,106 | €152,141 | +€133,035 | +696% |
| Stocks and contracts in progress | 3 | - | €5,271 | +€5,271 | |
| Stocks | 30/36 | - | €5,271 | +€5,271 | |
| Amounts receivable within one year | 40/41 | €14,935 | €13,188 | -€1,747 | -11.7% |
| Trade receivables | 40 | €6,397 | €13,188 | +€6,791 | +106% |
| Other amounts receivable | 41 | €8,538 | - | -€8,538 | |
| Cash at bank and in hand | 54/58 | €4,171 | €132,221 | +€128,050 | +3,070% |
| Deferred charges and accrued income | 490/1 | - | €1,462 | +€1,462 | |
| Total equity and liabilities | 10/49 | €71,070 | €251,605 | +€180,535 | +254% |
| Equity | 10/15 | -€4,197 | €75,953 | +€80,150 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,197 | €72,953 | +€80,150 | |
| Amounts payable | 17/49 | €75,268 | €175,652 | +€100,385 | +133% |
| Amounts payable within one year | 42/48 | €75,268 | €175,652 | +€100,385 | +133% |
| Trade debts | 44 | €1,959 | €21,371 | +€19,413 | +991% |
| Suppliers | 440/4 | €1,959 | €21,371 | +€19,413 | +991% |
| Taxes, remuneration and social security | 45 | - | €37,757 | +€37,757 | |
| Taxes | 450/3 | - | €28,649 | +€28,649 | |
| Remuneration and social security | 454/9 | - | €9,109 | +€9,109 | |
| Other amounts payable | 47/48 | €73,309 | €116,523 | +€43,214 | +58.9% |
| Remuneration, social security and pensions | 62 | - | €72,495 | +€72,495 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €222 | €12,247 | +€12,025 | +5,405% |
| Other operating charges | 640/8 | €487 | €820 | +€333 | +68.2% |
| Gross operating margin | 9900 | -€6,453 | €191,115 | +€197,569 | |
| Operating profit (loss) | 9901 | -€7,163 | €105,553 | +€112,716 | |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €34 | €7,770 | +€7,736 | +22,707% |
| Recurring financial charges | 65 | €34 | €7,770 | +€7,736 | +22,707% |
| Profit (loss) for the period before taxes | 9903 | -€7,197 | €97,792 | +€104,990 | |
| Income taxes | 67/77 | - | €17,642 | +€17,642 | |
| Profit (loss) for the period | 9904 | -€7,197 | €80,150 | +€87,347 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,197 | €80,150 | +€87,347 |
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.