Around Partners: 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.
Around Partners
Largest movements
- Cash +€1.8m
up €1.8m (+3818.6%), from €46,269 to €1.8m
mainly Receivables after one year (+€1.8m) and Receivables within one year (+€255,149)
- Receivables after one year -€1.8m
down €1.8m (-100.0%), from €1.8m to €0
- Receivables within one year -€255,149
down €255,149 (-58.2%), from €438,613 to €183,464
- Current portion of long-term debt -€311,014
down €311,014 (-36.0%), from €864,795 to €553,781
- Reserves +€110,592
up €110,592 (+11.1%), from €997,907 to €1.1m
- Trade debts -€74,813
down €74,813 (-61.8%), from €121,148 to €46,335
- Gross operating margin -€515,889
down €515,889 (-68.3%), from €755,675 to €239,786
- Taxes -€134,915
down €134,915 (-80.2%), from €168,123 to €33,208
- Financial charges -€47,136
down €47,136 (-54.9%), from €85,780 to €38,645
- Financial income -€24,928
down €24,928 (-35.8%), from €69,652 to €44,724
- Staff costs +€20,579
up €20,579 (+26.6%), from €77,401 to €97,980
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 | €2,256,865 | €2,001,437 | -€255,428 | -11.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €7,356 | €4,836 | -€2,520 | -34.3% |
| Intangible fixed assets | 21 | €3,172 | €2,142 | -€1,030 | -32.5% |
| Tangible fixed assets | 22/27 | €4,184 | €2,694 | -€1,490 | -35.6% |
| Plant, machinery and equipment | 23 | €4,184 | €2,694 | -€1,490 | -35.6% |
| Current assets | 29/58 | €2,249,509 | €1,996,601 | -€252,908 | -11.2% |
| Amounts receivable after more than one year | 29 | €1,764,049 | €0 | -€1.8m | -100.0% |
| Other amounts receivable | 291 | €1,764,049 | €0 | -€1.8m | -100.0% |
| Amounts receivable within one year | 40/41 | €438,613 | €183,464 | -€255,149 | -58.2% |
| Trade receivables | 40 | €438,613 | €183,464 | -€255,149 | -58.2% |
| Cash at bank and in hand | 54/58 | €46,269 | €1,813,110 | +€1.8m | +3818.6% |
| Deferred charges and accrued income | 490/1 | €578 | €27 | -€551 | -95.3% |
| Total equity and liabilities | 10/49 | €2,256,865 | €2,001,437 | -€255,428 | -11.3% |
| Equity | 10/15 | €1,002,907 | €1,113,499 | +€110,592 | +11.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €997,907 | €1,108,499 | +€110,592 | +11.1% |
| Distributable reserves | 133 | €997,907 | €1,108,499 | +€110,592 | +11.1% |
| Amounts payable | 17/49 | €1,253,958 | €887,938 | -€366,020 | -29.2% |
| Amounts payable within one year | 42/48 | €1,240,876 | €876,907 | -€363,969 | -29.3% |
| Current portion of amounts payable after more than one year | 42 | €864,795 | €553,781 | -€311,014 | -36.0% |
| Trade debts | 44 | €121,148 | €46,335 | -€74,813 | -61.8% |
| Suppliers | 440/4 | €121,148 | €46,335 | -€74,813 | -61.8% |
| Taxes, remuneration and social security | 45 | €253,542 | €275,400 | +€21,858 | +8.6% |
| Taxes | 450/3 | €243,745 | €261,983 | +€18,238 | +7.5% |
| Remuneration and social security | 454/9 | €9,798 | €13,418 | +€3,620 | +37.0% |
| Other amounts payable | 47/48 | €1,391 | €1,391 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €13,082 | €11,031 | -€2,051 | -15.7% |
| Remuneration, social security and pensions | 62 | €77,401 | €97,980 | +€20,579 | +26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,322 | €2,520 | +€1,198 | +90.7% |
| Other operating charges | 640/8 | €819 | €1,565 | +€746 | +91.1% |
| Gross operating margin | 9900 | €755,675 | €239,786 | -€515,889 | -68.3% |
| Operating profit (loss) | 9901 | €676,133 | €137,721 | -€538,413 | -79.6% |
| Financial income | 75/76B | €69,652 | €44,724 | -€24,928 | -35.8% |
| Recurring financial income | 75 | €69,652 | €44,724 | -€24,928 | -35.8% |
| Financial charges | 65/66B | €85,780 | €38,645 | -€47,136 | -54.9% |
| Recurring financial charges | 65 | €85,780 | €38,645 | -€47,136 | -54.9% |
| Profit (loss) for the period before taxes | 9903 | €660,005 | €143,800 | -€516,205 | -78.2% |
| Income taxes | 67/77 | €168,123 | €33,208 | -€134,915 | -80.2% |
| Profit (loss) for the period | 9904 | €491,882 | €110,592 | -€381,291 | -77.5% |
| Profit (loss) for the period to be appropriated | 9905 | €491,882 | €110,592 | -€381,291 | -77.5% |
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 11 October 2026 via checked.be.