B and S: 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.
B and S
Largest movements
- Receivables within one year +€94,605
up €94,605 (+1,173%), from €8,062 to €102,667
of which Trade receivables: +€95,263
- Cash +€14,884
up €14,884 (+31.5%), from €47,252 to €62,136
mainly Net result for the year (+€79,327) and Tax, wage and social debts (+€29,092)
- Reserves +€79,327
up €79,327 (+176%), from €45,194 to €124,521
- Tax, wage and social debts +€29,092
up €29,092 (+224%), from €13,010 to €42,102
of which Taxes: +€20,922
- Gross operating margin +€46,537
up €46,537 (+66.0%), from €70,527 to €117,064
- Taxes +€9,099
up €9,099 (+77.0%), from €11,823 to €20,922
- Staff costs +€2,041
up €2,041 (+15.5%), from €13,178 to €15,219
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 | €63,750 | €173,341 | +€109,590 | +172% |
| Fixed assets | 21/28 | €2,984 | €2,357 | -€627 | -21.0% |
| Tangible fixed assets | 22/27 | €2,984 | €2,357 | -€627 | -21.0% |
| Plant, machinery and equipment | 23 | €2,984 | €1,979 | -€1,005 | -33.7% |
| Furniture and vehicles | 24 | - | €378 | +€378 | |
| Current assets | 29/58 | €60,767 | €170,984 | +€110,218 | +181% |
| Stocks and contracts in progress | 3 | €5,327 | €5,500 | +€173 | +3.2% |
| Stocks | 30/36 | €5,327 | €5,500 | +€173 | +3.2% |
| Amounts receivable within one year | 40/41 | €8,062 | €102,667 | +€94,605 | +1,173% |
| Trade receivables | 40 | €6,875 | €102,138 | +€95,263 | +1,386% |
| Other amounts receivable | 41 | €1,187 | €529 | -€658 | -55.5% |
| Cash at bank and in hand | 54/58 | €47,252 | €62,136 | +€14,884 | +31.5% |
| Deferred charges and accrued income | 490/1 | €126 | €682 | +€556 | +441% |
| Total equity and liabilities | 10/49 | €63,750 | €173,341 | +€109,590 | +172% |
| Equity | 10/15 | €47,694 | €127,021 | +€79,327 | +166% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €45,194 | €124,521 | +€79,327 | +176% |
| Distributable reserves | 133 | €45,194 | €124,521 | +€79,327 | +176% |
| Amounts payable | 17/49 | €16,056 | €46,320 | +€30,264 | +188% |
| Amounts payable within one year | 42/48 | €16,056 | €46,320 | +€30,264 | +188% |
| Trade debts | 44 | €2,655 | €2,107 | -€548 | -20.7% |
| Suppliers | 440/4 | €2,655 | €2,107 | -€548 | -20.7% |
| Taxes, remuneration and social security | 45 | €13,010 | €42,102 | +€29,092 | +224% |
| Taxes | 450/3 | €11,823 | €32,745 | +€20,922 | +177% |
| Remuneration and social security | 454/9 | €1,187 | €9,358 | +€8,170 | +688% |
| Other amounts payable | 47/48 | €391 | €2,111 | +€1,720 | +439% |
| Remuneration, social security and pensions | 62 | €13,178 | €15,219 | +€2,041 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30 | €1,106 | +€1,075 | +3,551% |
| Other operating charges | 640/8 | €275 | €935 | +€661 | +240% |
| Gross operating margin | 9900 | €70,527 | €117,064 | +€46,537 | +66.0% |
| Operating profit (loss) | 9901 | €57,044 | €99,804 | +€42,759 | +75.0% |
| Financial income | 75/76B | - | €500 | +€500 | |
| Recurring financial income | 75 | - | €500 | +€500 | |
| Financial charges | 65/66B | €27 | €55 | +€28 | +103% |
| Recurring financial charges | 65 | €27 | €55 | +€28 | +103% |
| Profit (loss) for the period before taxes | 9903 | €57,017 | €100,248 | +€43,231 | +75.8% |
| Income taxes | 67/77 | €11,823 | €20,922 | +€9,099 | +77.0% |
| Profit (loss) for the period | 9904 | €45,194 | €79,327 | +€34,132 | +75.5% |
| Profit (loss) for the period to be appropriated | 9905 | €45,194 | €79,327 | +€34,132 | +75.5% |
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 27 October 2026 via checked.be.