Andy DM: 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.
Andy DM
Largest movements
- Tangible fixed assets +€22,514
up €22,514 (+504.0%), from €4,467 to €26,981
of which Plant, machinery and equipment: +€23,130
- Financial fixed assets -€14,116
down €14,116 (-23.5%), from €60,000 to €45,884
- Receivables within one year +€8,955
up €8,955 (+43.7%), from €20,474 to €29,429
of which Trade receivables: +€10,492
- Deferred charges and accrued income +€3,059
up €3,059 (+386.8%), from €791 to €3,850
- Cash -€2,824
down €2,824 (-83.0%), from €3,405 to €580
mainly Investment in fixed assets (net) (-€15,884) and Receivables within one year (-€8,955)
- Reserves +€13,260
up €13,260 (+66.0%), from €20,100 to €33,360
- Debts after one year -€7,587
down €7,587 (-16.9%), from €44,818 to €37,230
- Other debts +€5,760
new in 2025: €5,760
- Trade debts +€3,379
up €3,379 (+458.4%), from €737 to €4,116
- Tax, wage and social debts +€2,557
up €2,557 (+19.5%), from €13,115 to €15,671
of which Taxes: +€1,958
- Gross operating margin +€10,442
up €10,442 (+54.6%), from €19,121 to €29,563
- Depreciation +€6,000
up €6,000 (+403.9%), from €1,486 to €7,486
- Staff costs -€1,760
down €1,760 (-100.0%), from €1,760 to €0
- Financial charges +€1,066
up €1,066 (+79.0%), from €1,349 to €2,415
- Taxes +€1,018
up €1,018 (+21.3%), from €4,788 to €5,805
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 | €89,136 | €106,725 | +€17,589 | +19.7% |
| Fixed assets | 21/28 | €64,467 | €72,866 | +€8,399 | +13.0% |
| Tangible fixed assets | 22/27 | €4,467 | €26,981 | +€22,514 | +504.0% |
| Plant, machinery and equipment | 23 | €2,899 | €26,030 | +€23,130 | +797.8% |
| Furniture and vehicles | 24 | €1,568 | €952 | -€616 | -39.3% |
| Financial fixed assets | 28 | €60,000 | €45,884 | -€14,116 | -23.5% |
| Current assets | 29/58 | €24,669 | €33,860 | +€9,190 | +37.3% |
| Amounts receivable within one year | 40/41 | €20,474 | €29,429 | +€8,955 | +43.7% |
| Trade receivables | 40 | €7,260 | €17,752 | +€10,492 | +144.5% |
| Other amounts receivable | 41 | €13,214 | €11,677 | -€1,537 | -11.6% |
| Cash at bank and in hand | 54/58 | €3,405 | €580 | -€2,824 | -83.0% |
| Deferred charges and accrued income | 490/1 | €791 | €3,850 | +€3,059 | +386.8% |
| Total equity and liabilities | 10/49 | €89,136 | €106,725 | +€17,589 | +19.7% |
| Equity | 10/15 | €23,166 | €36,360 | +€13,195 | +57.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €20,100 | €33,360 | +€13,260 | +66.0% |
| Distributable reserves | 133 | €20,100 | €33,360 | +€13,260 | +66.0% |
| Profit (loss) carried forward | 14 | €66 | €0 | -€66 | -100.0% |
| Amounts payable | 17/49 | €65,971 | €70,365 | +€4,394 | +6.7% |
| Amounts payable after more than one year | 17 | €44,818 | €37,230 | -€7,587 | -16.9% |
| Financial debts | 170/4 | €44,818 | €37,230 | -€7,587 | -16.9% |
| Amounts payable within one year | 42/48 | €21,153 | €33,135 | +€11,981 | +56.6% |
| Current portion of amounts payable after more than one year | 42 | €7,301 | €7,587 | +€286 | +3.9% |
| Trade debts | 44 | €737 | €4,116 | +€3,379 | +458.4% |
| Suppliers | 440/4 | €737 | €4,116 | +€3,379 | +458.4% |
| Taxes, remuneration and social security | 45 | €13,115 | €15,671 | +€2,557 | +19.5% |
| Taxes | 450/3 | €13,115 | €15,073 | +€1,958 | +14.9% |
| Remuneration and social security | 454/9 | - | €599 | +€599 | |
| Other amounts payable | 47/48 | - | €5,760 | +€5,760 | |
| Remuneration, social security and pensions | 62 | €1,760 | €0 | -€1,760 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,486 | €7,486 | +€6,000 | +403.9% |
| Other operating charges | 640/8 | €718 | €663 | -€55 | -7.7% |
| Gross operating margin | 9900 | €19,121 | €29,563 | +€10,442 | +54.6% |
| Operating profit (loss) | 9901 | €15,158 | €21,415 | +€6,257 | +41.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,349 | €2,415 | +€1,066 | +79.0% |
| Recurring financial charges | 65 | €1,349 | €2,415 | +€1,066 | +79.0% |
| Profit (loss) for the period before taxes | 9903 | €13,809 | €19,000 | +€5,191 | +37.6% |
| Income taxes | 67/77 | €4,788 | €5,805 | +€1,018 | +21.3% |
| Profit (loss) for the period | 9904 | €9,021 | €13,195 | +€4,174 | +46.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,021 | €13,195 | +€4,174 | +46.3% |
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 10 October 2026 via checked.be.