AR PROMOTION: 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.
AR PROMOTION
Largest movements
- Receivables within one year +€264,130
up €264,130 (+4,219%), from €6,261 to €270,390
- Stocks and contracts +€133,735
up €133,735 (+41.4%), from €322,967 to €456,703
- Deferred charges and accrued income +€43,463
new in 2025: €43,463
- Trade debts +€301,029
up €301,029 (+4,740%), from €6,351 to €307,379
- Other debts +€92,050
up €92,050 (+28.8%), from €319,212 to €411,262
- Reserves +€25,995
up €25,995 (+152%), from €17,150 to €43,145
- Profit (loss) carried forward +€14,330
up €14,330, from -€14,226 to €103
- Gross operating margin +€35,263
up €35,263 (+181%), from €19,522 to €54,784
- Taxes +€9,610
new in 2025: €9,610
- Other operating charges -€1,748
down €1,748 (-80.9%), from €2,160 to €412
- Depreciation -€970
down €970 (-21.4%), from €4,528 to €3,558
- Financial charges +€778
up €778 (+761%), from €102 to €880
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 | €336,528 | €778,957 | +€442,430 | +131% |
| Fixed assets | 21/28 | €6,815 | €4,567 | -€2,248 | -33.0% |
| Tangible fixed assets | 22/27 | €6,815 | €4,567 | -€2,248 | -33.0% |
| Furniture and vehicles | 24 | €6,815 | €4,567 | -€2,248 | -33.0% |
| Current assets | 29/58 | €329,712 | €774,390 | +€444,678 | +135% |
| Stocks and contracts in progress | 3 | €322,967 | €456,703 | +€133,735 | +41.4% |
| Stocks | 30/36 | €322,967 | €456,703 | +€133,735 | +41.4% |
| Amounts receivable within one year | 40/41 | €6,261 | €270,390 | +€264,130 | +4,219% |
| Trade receivables | 40 | €6,261 | €270,390 | +€264,130 | +4,219% |
| Cash at bank and in hand | 54/58 | €484 | €3,834 | +€3,350 | +692% |
| Deferred charges and accrued income | 490/1 | - | €43,463 | +€43,463 | |
| Total equity and liabilities | 10/49 | €336,528 | €778,957 | +€442,430 | +131% |
| Equity | 10/15 | €4,924 | €45,248 | +€40,325 | +819% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Contributions outside capital | 11 | €2,000 | €2,000 | = | 0.0% |
| Other | 1109/19 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €17,150 | €43,145 | +€25,995 | +152% |
| Distributable reserves | 133 | €17,150 | €43,145 | +€25,995 | +152% |
| Profit (loss) carried forward | 14 | -€14,226 | €103 | +€14,330 | |
| Amounts payable | 17/49 | €331,604 | €733,709 | +€402,105 | +121% |
| Amounts payable within one year | 42/48 | €331,604 | €733,709 | +€402,105 | +121% |
| Financial debts | 43 | - | €7,523 | +€7,523 | |
| Credit institutions | 430/8 | - | €7,523 | +€7,523 | |
| Trade debts | 44 | €6,351 | €307,379 | +€301,029 | +4,740% |
| Suppliers | 440/4 | €6,351 | €307,379 | +€301,029 | +4,740% |
| Taxes, remuneration and social security | 45 | €6,041 | €7,545 | +€1,503 | +24.9% |
| Taxes | 450/3 | €6,041 | €7,545 | +€1,503 | +24.9% |
| Other amounts payable | 47/48 | €319,212 | €411,262 | +€92,050 | +28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,528 | €3,558 | -€970 | -21.4% |
| Other operating charges | 640/8 | €2,160 | €412 | -€1,748 | -80.9% |
| Non-recurring operating charges | 66A | €2,443 | - | -€2,443 | |
| Gross operating margin | 9900 | €19,522 | €54,784 | +€35,263 | +181% |
| Operating profit (loss) | 9901 | €10,390 | €50,814 | +€40,424 | +389% |
| Financial charges | 65/66B | €102 | €880 | +€778 | +761% |
| Recurring financial charges | 65 | €102 | €880 | +€778 | +761% |
| Profit (loss) for the period before taxes | 9903 | €10,288 | €49,934 | +€39,646 | +385% |
| Income taxes | 67/77 | - | €9,610 | +€9,610 | |
| Profit (loss) for the period | 9904 | €10,288 | €40,325 | +€30,037 | +292% |
| Profit (loss) for the period to be appropriated | 9905 | €10,288 | €40,325 | +€30,037 | +292% |
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 16 October 2026 via checked.be.