APRIL23: 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.
APRIL23
Largest movements
- Receivables within one year +€16,867
up €16,867 (+154%), from €10,929 to €27,797
of which Other amounts receivable: +€22,328
- Deferred charges and accrued income +€4,334
new in 2025: €4,334
- Tangible fixed assets +€1,755
up €1,755 (+19.3%), from €9,086 to €10,842
of which Plant, machinery and equipment: +€1,472
- Cash -€712
down €712 (-15.8%), from €4,504 to €3,792
mainly Receivables within one year (-€16,867) and Investment in fixed assets (net) (-€5,614)
- Reserves +€22,303
up €22,303 (+1,128%), from €1,978 to €24,280
- Tax, wage and social debts +€10,504
up €10,504 (+294%), from €3,569 to €14,073
- Other debts -€4,340
no longer reported in 2025 (was €4,340)
- Debts after one year -€3,301
down €3,301 (-59.0%), from €5,594 to €2,293
- Accrued charges and deferred income -€2,529
no longer reported in 2025 (was €2,529)
- Gross operating margin +€32,341
up €32,341 (+711%), from €4,548 to €36,889
- Taxes +€9,936
up €9,936 (+1,987%), from €500 to €10,436
- Depreciation +€2,713
up €2,713 (+237%), from €1,145 to €3,859
- Financial income +€402
up €402 (+5,677%), from €7 to €409
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 | €24,520 | €46,764 | +€22,245 | +90.7% |
| Fixed assets | 21/28 | €9,086 | €10,842 | +€1,755 | +19.3% |
| Tangible fixed assets | 22/27 | €9,086 | €10,842 | +€1,755 | +19.3% |
| Plant, machinery and equipment | 23 | - | €1,472 | +€1,472 | |
| Furniture and vehicles | 24 | €9,086 | €9,370 | +€283 | +3.1% |
| Current assets | 29/58 | €15,433 | €35,923 | +€20,489 | +133% |
| Amounts receivable within one year | 40/41 | €10,929 | €27,797 | +€16,867 | +154% |
| Trade receivables | 40 | €10,929 | €5,469 | -€5,461 | -50.0% |
| Other amounts receivable | 41 | - | €22,328 | +€22,328 | |
| Cash at bank and in hand | 54/58 | €4,504 | €3,792 | -€712 | -15.8% |
| Deferred charges and accrued income | 490/1 | - | €4,334 | +€4,334 | |
| Total equity and liabilities | 10/49 | €24,520 | €46,764 | +€22,245 | +90.7% |
| Equity | 10/15 | €2,978 | €25,280 | +€22,303 | +749% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,978 | €24,280 | +€22,303 | +1,128% |
| Distributable reserves | 133 | €1,978 | €24,280 | +€22,303 | +1,128% |
| Amounts payable | 17/49 | €21,542 | €21,484 | -€58 | -0.3% |
| Amounts payable after more than one year | 17 | €5,594 | €2,293 | -€3,301 | -59.0% |
| Financial debts | 170/4 | €5,594 | €2,293 | -€3,301 | -59.0% |
| Amounts payable within one year | 42/48 | €13,419 | €19,191 | +€5,772 | +43.0% |
| Current portion of amounts payable after more than one year | 42 | €3,143 | €3,301 | +€159 | +5.1% |
| Trade debts | 44 | €2,368 | €1,817 | -€551 | -23.3% |
| Suppliers | 440/4 | €2,368 | €1,817 | -€551 | -23.3% |
| Taxes, remuneration and social security | 45 | €3,569 | €14,073 | +€10,504 | +294% |
| Taxes | 450/3 | €3,569 | €14,073 | +€10,504 | +294% |
| Other amounts payable | 47/48 | €4,340 | - | -€4,340 | |
| Accrued charges and deferred income | 492/3 | €2,529 | - | -€2,529 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,145 | €3,859 | +€2,713 | +237% |
| Other operating charges | 640/8 | €536 | €190 | -€346 | -64.5% |
| Gross operating margin | 9900 | €4,548 | €36,889 | +€32,341 | +711% |
| Operating profit (loss) | 9901 | €2,867 | €32,840 | +€29,974 | +1,046% |
| Financial income | 75/76B | €7 | €409 | +€402 | +5,677% |
| Recurring financial income | 75 | €7 | €409 | +€402 | +5,677% |
| Financial charges | 65/66B | €396 | €511 | +€115 | +29.0% |
| Recurring financial charges | 65 | €396 | €511 | +€115 | +29.0% |
| Profit (loss) for the period before taxes | 9903 | €2,478 | €32,739 | +€30,261 | +1,221% |
| Income taxes | 67/77 | €500 | €10,436 | +€9,936 | +1,987% |
| Profit (loss) for the period | 9904 | €1,978 | €22,303 | +€20,325 | +1,028% |
| Profit (loss) for the period to be appropriated | 9905 | €1,978 | €22,303 | +€20,325 | +1,028% |
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 17 October 2026 via checked.be.