B Effect: 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.
B Effect
Largest movements
- Receivables within one year +€83,101
up €83,101 (+190.9%), from €43,529 to €126,630
of which Trade receivables: +€79,663
- Cash -€46,815
down €46,815 (-98.0%), from €47,748 to €933
mainly Receivables within one year (-€83,101) and Tax, wage and social debts (-€12,722)
- Stocks and contracts -€30,000
no longer reported in 2025 (was €30,000)
- Tax, wage and social debts -€12,722
down €12,722 (-92.4%), from €13,765 to €1,043
- Trade debts +€11,572
up €11,572 (+92.2%), from €12,553 to €24,125
- Debts after one year +€5,000
up €5,000 (+8.3%), from €60,000 to €65,000
- Reserves +€2,182
up €2,182 (+7.7%), from €28,425 to €30,607
- Gross operating margin -€11,472
down €11,472 (-75.2%), from €15,248 to €3,776
- Taxes -€4,181
down €4,181 (-88.2%), from €4,738 to €557
- Financial charges -€414
down €414 (-41.3%), from €1,004 to €590
- Other operating charges +€397
new in 2025: €397
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 | €121,277 | €127,563 | +€6,286 | +5.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Current assets | 29/58 | €121,277 | €127,563 | +€6,286 | +5.2% |
| Stocks and contracts in progress | 3 | €30,000 | - | -€30,000 | |
| Contracts in progress | 37 | €30,000 | - | -€30,000 | |
| Amounts receivable within one year | 40/41 | €43,529 | €126,630 | +€83,101 | +190.9% |
| Trade receivables | 40 | €43,529 | €123,192 | +€79,663 | +183.0% |
| Other amounts receivable | 41 | - | €3,438 | +€3,438 | |
| Cash at bank and in hand | 54/58 | €47,748 | €933 | -€46,815 | -98.0% |
| Total equity and liabilities | 10/49 | €121,277 | €127,563 | +€6,286 | +5.2% |
| Equity | 10/15 | €30,737 | €32,991 | +€2,254 | +7.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €28,425 | €30,607 | +€2,182 | +7.7% |
| Distributable reserves | 133 | €28,425 | €30,607 | +€2,182 | +7.7% |
| Profit (loss) carried forward | 14 | €311 | €384 | +€73 | +23.3% |
| Amounts payable | 17/49 | €90,540 | €94,572 | +€4,032 | +4.5% |
| Amounts payable after more than one year | 17 | €60,000 | €65,000 | +€5,000 | +8.3% |
| Financial debts | 170/4 | €60,000 | €65,000 | +€5,000 | +8.3% |
| Amounts payable within one year | 42/48 | €30,540 | €29,572 | -€968 | -3.2% |
| Trade debts | 44 | €12,553 | €24,125 | +€11,572 | +92.2% |
| Suppliers | 440/4 | €12,553 | €24,125 | +€11,572 | +92.2% |
| Taxes, remuneration and social security | 45 | €13,765 | €1,043 | -€12,722 | -92.4% |
| Taxes | 450/3 | €13,765 | €1,043 | -€12,722 | -92.4% |
| Other amounts payable | 47/48 | €4,222 | €4,404 | +€182 | +4.3% |
| Other operating charges | 640/8 | - | €397 | +€397 | |
| Gross operating margin | 9900 | €15,248 | €3,776 | -€11,472 | -75.2% |
| Operating profit (loss) | 9901 | €15,248 | €3,379 | -€11,869 | -77.8% |
| Financial income | 75/76B | €10 | €22 | +€12 | +115.7% |
| Recurring financial income | 75 | €10 | €22 | +€12 | +115.7% |
| Financial charges | 65/66B | €1,004 | €590 | -€414 | -41.3% |
| Recurring financial charges | 65 | €1,004 | €590 | -€414 | -41.3% |
| Profit (loss) for the period before taxes | 9903 | €14,254 | €2,811 | -€11,443 | -80.3% |
| Income taxes | 67/77 | €4,738 | €557 | -€4,181 | -88.2% |
| Profit (loss) for the period | 9904 | €9,516 | €2,254 | -€7,262 | -76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,516 | €2,254 | -€7,262 | -76.3% |
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 6 October 2026 via checked.be.