ANYTHING CAN BE IMPROVED: 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.
ANYTHING CAN BE IMPROVED
Largest movements
- Current investments +€40,000
up €40,000 (+72.7%), from €55,000 to €95,000
- Cash +€24,798
up €24,798 (+19.9%), from €124,768 to €149,566
mainly Net result for the year (+€56,922) and Tax, wage and social debts (+€10,237)
- Financial fixed assets +€5,972
up €5,972 (+108%), from €5,543 to €11,515
- Reserves +€56,922
up €56,922 (+39.9%), from €142,668 to €199,590
of which Distributable reserves: +€56,398
- Tax, wage and social debts +€10,237
up €10,237 (+27.9%), from €36,675 to €46,913
of which Taxes: +€9,348
- Gross operating margin -€1,057
down €1,057 (-1.3%), from €79,813 to €78,756
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 | €191,745 | €259,304 | +€67,559 | +35.2% |
| Fixed assets | 21/28 | €10,490 | €14,738 | +€4,248 | +40.5% |
| Tangible fixed assets | 22/27 | €4,947 | €3,223 | -€1,724 | -34.8% |
| Plant, machinery and equipment | 23 | €1,048 | €524 | -€524 | -50.0% |
| Furniture and vehicles | 24 | €3,899 | €2,699 | -€1,200 | -30.8% |
| Financial fixed assets | 28 | €5,543 | €11,515 | +€5,972 | +108% |
| Current assets | 29/58 | €181,255 | €244,566 | +€63,311 | +34.9% |
| Amounts receivable within one year | 40/41 | €1,487 | - | -€1,487 | |
| Trade receivables | 40 | €1,487 | - | -€1,487 | |
| Current investments | 50/53 | €55,000 | €95,000 | +€40,000 | +72.7% |
| Cash at bank and in hand | 54/58 | €124,768 | €149,566 | +€24,798 | +19.9% |
| Total equity and liabilities | 10/49 | €191,745 | €259,304 | +€67,559 | +35.2% |
| Equity | 10/15 | €147,668 | €204,590 | +€56,922 | +38.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €142,668 | €199,590 | +€56,922 | +39.9% |
| Tax-exempt reserves | 132 | €1,572 | €2,095 | +€524 | +33.3% |
| Distributable reserves | 133 | €141,097 | €197,495 | +€56,398 | +40.0% |
| Amounts payable | 17/49 | €44,077 | €54,714 | +€10,638 | +24.1% |
| Amounts payable within one year | 42/48 | €44,077 | €54,714 | +€10,638 | +24.1% |
| Trade debts | 44 | €1,555 | - | -€1,555 | |
| Suppliers | 440/4 | €1,555 | - | -€1,555 | |
| Taxes, remuneration and social security | 45 | €36,675 | €46,913 | +€10,237 | +27.9% |
| Taxes | 450/3 | €34,868 | €44,217 | +€9,348 | +26.8% |
| Remuneration and social security | 454/9 | €1,807 | €2,696 | +€889 | +49.2% |
| Other amounts payable | 47/48 | €5,847 | €7,802 | +€1,955 | +33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,724 | €1,724 | = | 0.0% |
| Other operating charges | 640/8 | €86 | €127 | +€41 | +47.5% |
| Gross operating margin | 9900 | €79,813 | €78,756 | -€1,057 | -1.3% |
| Operating profit (loss) | 9901 | €78,004 | €76,905 | -€1,098 | -1.4% |
| Financial income | 75/76B | €2,449 | €3,246 | +€797 | +32.5% |
| Recurring financial income | 75 | €2,449 | €3,246 | +€797 | +32.5% |
| Financial charges | 65/66B | €96 | €99 | +€3 | +3.0% |
| Recurring financial charges | 65 | €96 | €99 | +€3 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | €80,357 | €80,053 | -€304 | -0.4% |
| Income taxes | 67/77 | €22,354 | €23,131 | +€777 | +3.5% |
| Profit (loss) for the period | 9904 | €58,003 | €56,922 | -€1,081 | -1.9% |
| Transfer to tax-exempt reserves | 689 | €524 | €524 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,479 | €56,398 | -€1,081 | -1.9% |
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 29 October 2026 via checked.be.