B.LINK: 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.LINK
Largest movements
- Receivables within one year +€68,940
up €68,940 (+173.6%), from €39,708 to €108,648
of which Trade receivables: +€77,572
- Cash -€26,453
down €26,453 (-67.7%), from €39,054 to €12,601
mainly Receivables within one year (-€68,940) and Contributions, distributions and other (-€44,200)
- Tangible fixed assets -€2,825
down €2,825 (-38.3%), from €7,372 to €4,547
- Trade debts +€25,071
up €25,071 (+19679.0%), from €127 to €25,198
- Tax, wage and social debts +€8,951
up €8,951 (+82.8%), from €10,808 to €19,759
- Reserves +€3,774
up €3,774 (+5.2%), from €72,757 to €76,531
- Other debts +€1,866
up €1,866 (+423.1%), from €441 to €2,307
- Gross operating margin +€22,105
up €22,105 (+47.4%), from €46,644 to €68,748
- Taxes +€8,165
up €8,165 (+90.4%), from €9,028 to €17,192
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 | €86,133 | €125,796 | +€39,663 | +46.0% |
| Fixed assets | 21/28 | €7,372 | €4,547 | -€2,825 | -38.3% |
| Tangible fixed assets | 22/27 | €7,372 | €4,547 | -€2,825 | -38.3% |
| Furniture and vehicles | 24 | €7,372 | €4,547 | -€2,825 | -38.3% |
| Current assets | 29/58 | €78,761 | €121,249 | +€42,487 | +53.9% |
| Amounts receivable within one year | 40/41 | €39,708 | €108,648 | +€68,940 | +173.6% |
| Trade receivables | 40 | €29,603 | €107,175 | +€77,572 | +262.0% |
| Other amounts receivable | 41 | €10,104 | €1,472 | -€8,632 | -85.4% |
| Cash at bank and in hand | 54/58 | €39,054 | €12,601 | -€26,453 | -67.7% |
| Total equity and liabilities | 10/49 | €86,133 | €125,796 | +€39,663 | +46.0% |
| Equity | 10/15 | €74,757 | €78,531 | +€3,774 | +5.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €72,757 | €76,531 | +€3,774 | +5.2% |
| Distributable reserves | 133 | €72,757 | €76,531 | +€3,774 | +5.2% |
| Amounts payable | 17/49 | €11,376 | €47,265 | +€35,888 | +315.5% |
| Amounts payable within one year | 42/48 | €11,376 | €47,265 | +€35,888 | +315.5% |
| Trade debts | 44 | €127 | €25,198 | +€25,071 | +19679.0% |
| Suppliers | 440/4 | €127 | €25,198 | +€25,071 | +19679.0% |
| Taxes, remuneration and social security | 45 | €10,808 | €19,759 | +€8,951 | +82.8% |
| Taxes | 450/3 | €10,808 | €19,759 | +€8,951 | +82.8% |
| Other amounts payable | 47/48 | €441 | €2,307 | +€1,866 | +423.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,825 | €2,825 | = | 0.0% |
| Other operating charges | 640/8 | €599 | €617 | +€18 | +3.0% |
| Gross operating margin | 9900 | €46,644 | €68,748 | +€22,105 | +47.4% |
| Operating profit (loss) | 9901 | €43,220 | €65,307 | +€22,086 | +51.1% |
| Financial charges | 65/66B | €202 | €140 | -€62 | -30.7% |
| Recurring financial charges | 65 | €202 | €140 | -€62 | -30.7% |
| Profit (loss) for the period before taxes | 9903 | €43,018 | €65,167 | +€22,148 | +51.5% |
| Income taxes | 67/77 | €9,028 | €17,192 | +€8,165 | +90.4% |
| Profit (loss) for the period | 9904 | €33,991 | €47,974 | +€13,984 | +41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,991 | €47,974 | +€13,984 | +41.1% |
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 5 October 2026 via checked.be.