ATENTION: 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.
ATENTION
Largest movements
- Cash +€129,383
up €129,383 (+134%), from €96,332 to €225,715
mainly Depreciation (+€107,952) and Net result for the year (+€91,923)
- Tangible fixed assets +€73,883
up €73,883 (+16.1%), from €458,931 to €532,814
of which Furniture and vehicles: +€54,157
- Receivables within one year -€18,637
down €18,637 (-26.7%), from €69,810 to €51,173
of which Other amounts receivable: -€14,434
- Profit (loss) carried forward +€91,923
up €91,923 (+91.4%), from €100,542 to €192,465
- Trade debts +€79,903
up €79,903 (+44.3%), from €180,374 to €260,277
- Short-term financial debts +€30,000
new in 2025: €30,000
- Current portion of long-term debt -€26,073
down €26,073 (-67.7%), from €38,497 to €12,424
- Tax, wage and social debts +€11,840
up €11,840 (+130%), from €9,142 to €20,982
- Gross operating margin +€39,927
up €39,927 (+18.6%), from €214,601 to €254,528
- Taxes +€15,904
up €15,904 (+59.2%), from €26,859 to €42,763
- Write-downs +€5,840
up €5,840, from -€5,840 to €0
- Financial charges +€2,608
up €2,608 (+29.4%), from €8,868 to €11,476
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 | €725,073 | €909,702 | +€184,630 | +25.5% |
| Fixed assets | 21/28 | €458,931 | €532,814 | +€73,883 | +16.1% |
| Tangible fixed assets | 22/27 | €458,931 | €532,814 | +€73,883 | +16.1% |
| Plant, machinery and equipment | 23 | €415,497 | €435,224 | +€19,726 | +4.7% |
| Furniture and vehicles | 24 | €43,433 | €97,590 | +€54,157 | +125% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €266,142 | €376,888 | +€110,746 | +41.6% |
| Amounts receivable within one year | 40/41 | €69,810 | €51,173 | -€18,637 | -26.7% |
| Trade receivables | 40 | €32,700 | €28,497 | -€4,203 | -12.9% |
| Other amounts receivable | 41 | €37,110 | €22,676 | -€14,434 | -38.9% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €96,332 | €225,715 | +€129,383 | +134% |
| Total equity and liabilities | 10/49 | €725,073 | €909,702 | +€184,630 | +25.5% |
| Equity | 10/15 | €377,210 | €469,133 | +€91,923 | +24.4% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €236,668 | €236,668 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €232,668 | €232,668 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,542 | €192,465 | +€91,923 | +91.4% |
| Amounts payable | 17/49 | €347,863 | €440,569 | +€92,707 | +26.7% |
| Amounts payable after more than one year | 17 | €109,275 | €101,869 | -€7,406 | -6.8% |
| Financial debts | 170/4 | €7,406 | €0 | -€7,406 | -100% |
| Other amounts payable | 178/9 | €101,869 | €101,869 | = | 0.0% |
| Amounts payable within one year | 42/48 | €238,588 | €334,204 | +€95,616 | +40.1% |
| Current portion of amounts payable after more than one year | 42 | €38,497 | €12,424 | -€26,073 | -67.7% |
| Financial debts | 43 | - | €30,000 | +€30,000 | |
| Credit institutions | 430/8 | - | €30,000 | +€30,000 | |
| Trade debts | 44 | €180,374 | €260,277 | +€79,903 | +44.3% |
| Suppliers | 440/4 | €180,374 | €260,277 | +€79,903 | +44.3% |
| Taxes, remuneration and social security | 45 | €9,142 | €20,982 | +€11,840 | +130% |
| Taxes | 450/3 | €9,142 | €20,982 | +€11,840 | +130% |
| Other amounts payable | 47/48 | €10,575 | €10,522 | -€54 | -0.5% |
| Accrued charges and deferred income | 492/3 | - | €4,496 | +€4,496 | |
| Non-recurring operating income | 76A | - | €280 | +€280 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,446 | €107,952 | +€2,506 | +2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,840 | €0 | +€5,840 | |
| Other operating charges | 640/8 | €1,755 | €3,514 | +€1,759 | +100% |
| Gross operating margin | 9900 | €214,601 | €254,528 | +€39,927 | +18.6% |
| Operating profit (loss) | 9901 | €113,240 | €143,062 | +€29,822 | +26.3% |
| Financial income | 75/76B | €1,052 | €3,100 | +€2,048 | +195% |
| Recurring financial income | 75 | €1 | €3,100 | +€3,099 | +336,891% |
| Non-recurring financial income | 76B | €1,051 | €0 | -€1,051 | -100% |
| Financial charges | 65/66B | €8,868 | €11,476 | +€2,608 | +29.4% |
| Recurring financial charges | 65 | €8,868 | €11,476 | +€2,608 | +29.4% |
| Profit (loss) for the period before taxes | 9903 | €105,425 | €134,686 | +€29,262 | +27.8% |
| Income taxes | 67/77 | €26,859 | €42,763 | +€15,904 | +59.2% |
| Profit (loss) for the period | 9904 | €78,566 | €91,923 | +€13,357 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €78,566 | €91,923 | +€13,357 | +17.0% |
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 24 October 2026 via checked.be.