ASPECTS: what changed
Two fiscal 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.
ASPECTS
Largest movements
- Cash +€52,850
up €52,850 (+133.9%), from €39,462 to €92,312
mainly Trade debts (+€35,309) and Net result for the year (+€26,539)
- Receivables within one year +€16,578
up €16,578 (+400.8%), from €4,136 to €20,714
of which Trade receivables: +€16,297
- Deferred charges and accrued income -€13,032
down €13,032 (-92.0%), from €14,164 to €1,131
- Tangible fixed assets -€4,443
down €4,443 (-39.0%), from €11,398 to €6,955
- Trade debts +€35,309
up €35,309 (+30462.7%), from €116 to €35,425
- Profit (loss) carried forward +€25,706
new in 2025: €25,706
- Tax, wage and social debts -€9,058
down €9,058 (-33.6%), from €26,967 to €17,909
- Financial charges +€24,622
up €24,622 (+89764.2%), from €27 to €24,650
- Taxes -€7,522
down €7,522 (-47.9%), from €15,719 to €8,197
- Gross operating margin +€6,034
up €6,034 (+10.3%), from €58,829 to €64,863
- Depreciation +€1,428
up €1,428 (+40.1%), from €3,560 to €4,987
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 | €69,159 | €121,611 | +€52,451 | +75.8% |
| Fixed assets | 21/28 | €11,398 | €6,955 | -€4,443 | -39.0% |
| Tangible fixed assets | 22/27 | €11,398 | €6,955 | -€4,443 | -39.0% |
| Furniture and vehicles | 24 | €11,398 | €6,955 | -€4,443 | -39.0% |
| Current assets | 29/58 | €57,761 | €114,656 | +€56,895 | +98.5% |
| Stocks and contracts in progress | 3 | - | €499 | +€499 | |
| Stocks | 30/36 | - | €499 | +€499 | |
| Amounts receivable within one year | 40/41 | €4,136 | €20,714 | +€16,578 | +400.8% |
| Trade receivables | 40 | €3 | €16,300 | +€16,297 | +577914.2% |
| Other amounts receivable | 41 | €4,133 | €4,414 | +€281 | +6.8% |
| Cash at bank and in hand | 54/58 | €39,462 | €92,312 | +€52,850 | +133.9% |
| Deferred charges and accrued income | 490/1 | €14,164 | €1,131 | -€13,032 | -92.0% |
| Total equity and liabilities | 10/49 | €69,159 | €121,611 | +€52,451 | +75.8% |
| Equity | 10/15 | €40,929 | €66,635 | +€25,706 | +62.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €37,929 | €37,929 | = | 0.0% |
| Distributable reserves | 133 | €37,929 | €37,929 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €25,706 | +€25,706 | |
| Amounts payable | 17/49 | €28,230 | €54,976 | +€26,746 | +94.7% |
| Amounts payable within one year | 42/48 | €28,230 | €54,959 | +€26,729 | +94.7% |
| Trade debts | 44 | €116 | €35,425 | +€35,309 | +30462.7% |
| Suppliers | 440/4 | €116 | €35,425 | +€35,309 | +30462.7% |
| Taxes, remuneration and social security | 45 | €26,967 | €17,909 | -€9,058 | -33.6% |
| Taxes | 450/3 | €26,967 | €17,909 | -€9,058 | -33.6% |
| Other amounts payable | 47/48 | €1,148 | €1,625 | +€478 | +41.6% |
| Accrued charges and deferred income | 492/3 | - | €17 | +€17 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,560 | €4,987 | +€1,428 | +40.1% |
| Other operating charges | 640/8 | €765 | €490 | -€275 | -35.9% |
| Gross operating margin | 9900 | €58,829 | €64,863 | +€6,034 | +10.3% |
| Operating profit (loss) | 9901 | €54,504 | €59,385 | +€4,881 | +9.0% |
| Financial income | 75/76B | €4 | €0 | -€4 | -100.0% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -100.0% |
| Financial charges | 65/66B | €27 | €24,650 | +€24,622 | +89764.2% |
| Recurring financial charges | 65 | €27 | €24,650 | +€24,622 | +89764.2% |
| Profit (loss) for the period before taxes | 9903 | €54,481 | €34,735 | -€19,746 | -36.2% |
| Income taxes | 67/77 | €15,719 | €8,197 | -€7,522 | -47.9% |
| Profit (loss) for the period | 9904 | €38,762 | €26,539 | -€12,223 | -31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,762 | €26,539 | -€12,223 | -31.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.