AS it should be: 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.
AS it should be
Largest movements
- Cash +€62,476
up €62,476 (+230%), from €27,142 to €89,617
mainly Net result for the year (+€67,499) and Tax, wage and social debts (+€10,452)
- Receivables within one year +€15,258
up €15,258 (+5.7%), from €268,681 to €283,939
of which Other amounts receivable: +€20,533
- Reserves +€51,938
up €51,938 (+16.2%), from €321,299 to €373,238
- Profit (loss) carried forward +€15,560
no longer reported in 2025 (was -€15,560)
- Tax, wage and social debts +€10,452
new in 2025: €10,452
of which Taxes: +€7,281
- Gross operating margin +€93,331
up €93,331, from -€13,954 to €79,377
- Taxes +€25,167
new in 2025: €25,167
- Financial charges +€2,491
up €2,491, from -€281 to €2,210
- Financial income +€2,164
up €2,164 (+15.7%), from €13,819 to €15,983
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 | €307,764 | €387,013 | +€79,249 | +25.7% |
| Fixed assets | 21/28 | €65 | - | -€65 | |
| Tangible fixed assets | 22/27 | €65 | - | -€65 | |
| Plant, machinery and equipment | 23 | €65 | - | -€65 | |
| Current assets | 29/58 | €307,699 | €387,013 | +€79,314 | +25.8% |
| Amounts receivable within one year | 40/41 | €268,681 | €283,939 | +€15,258 | +5.7% |
| Trade receivables | 40 | €5,275 | - | -€5,275 | |
| Other amounts receivable | 41 | €263,406 | €283,939 | +€20,533 | +7.8% |
| Current investments | 50/53 | €11,791 | €11,791 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €27,142 | €89,617 | +€62,476 | +230% |
| Deferred charges and accrued income | 490/1 | €85 | €1,665 | +€1,580 | +1,866% |
| Total equity and liabilities | 10/49 | €307,764 | €387,013 | +€79,249 | +25.7% |
| Equity | 10/15 | €307,739 | €375,238 | +€67,499 | +21.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €321,299 | €373,238 | +€51,938 | +16.2% |
| Distributable reserves | 133 | €321,299 | €373,238 | +€51,938 | +16.2% |
| Profit (loss) carried forward | 14 | -€15,560 | - | +€15,560 | |
| Amounts payable | 17/49 | €25 | €11,775 | +€11,750 | +46,242% |
| Amounts payable within one year | 42/48 | - | €11,775 | +€11,775 | |
| Trade debts | 44 | - | €1,323 | +€1,323 | |
| Suppliers | 440/4 | - | €1,323 | +€1,323 | |
| Taxes, remuneration and social security | 45 | - | €10,452 | +€10,452 | |
| Taxes | 450/3 | - | €7,281 | +€7,281 | |
| Remuneration and social security | 454/9 | - | €3,172 | +€3,172 | |
| Accrued charges and deferred income | 492/3 | €25 | - | -€25 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €776 | €65 | -€711 | -91.6% |
| Other operating charges | 640/8 | - | €418 | +€418 | |
| Gross operating margin | 9900 | -€13,954 | €79,377 | +€93,331 | |
| Operating profit (loss) | 9901 | -€14,730 | €78,894 | +€93,624 | |
| Financial income | 75/76B | €13,819 | €15,983 | +€2,164 | +15.7% |
| Recurring financial income | 75 | €13,819 | €15,983 | +€2,164 | +15.7% |
| Financial charges | 65/66B | -€281 | €2,210 | +€2,491 | |
| Recurring financial charges | 65 | -€281 | €2,210 | +€2,491 | |
| Profit (loss) for the period before taxes | 9903 | -€630 | €92,666 | +€93,296 | |
| Income taxes | 67/77 | - | €25,167 | +€25,167 | |
| Profit (loss) for the period | 9904 | -€630 | €67,499 | +€68,129 | |
| Profit (loss) for the period to be appropriated | 9905 | -€630 | €67,499 | +€68,129 |
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.