BALO: 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.
BALO
Largest movements
- Tangible fixed assets +€13,253
up €13,253 (+10.5%), from €126,079 to €139,332
of which Other tangible fixed assets: +€21,414
- Receivables within one year +€5,972
up €5,972 (+21.1%), from €28,287 to €34,259
of which Other amounts receivable: +€6,002
- Cash +€4,781
up €4,781 (+19.6%), from €24,445 to €29,226
mainly Depreciation (+€29,510) and Net result for the year (+€23,446)
- Profit (loss) carried forward +€23,446
up €23,446 (+52.6%), from €44,586 to €68,032
- Tax, wage and social debts +€13,332
up €13,332 (+100.2%), from €13,310 to €26,642
of which Taxes: +€8,532
- Trade debts -€8,989
down €8,989 (-13.2%), from €68,255 to €59,266
- Other debts -€4,453
down €4,453 (-5.8%), from €77,183 to €72,730
- Gross operating margin +€28,633
up €28,633 (+81.5%), from €35,128 to €63,761
- Depreciation +€5,879
up €5,879 (+24.9%), from €23,630 to €29,510
- Taxes +€5,594
up €5,594 (+190.4%), from €2,938 to €8,532
- Financial income -€2,329
no longer reported in 2025 (was €2,329)
- Staff costs +€1,089
no longer reported in 2025 (was -€1,089)
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 | €227,530 | €250,866 | +€23,336 | +10.3% |
| Fixed assets | 21/28 | €129,129 | €142,382 | +€13,253 | +10.3% |
| Tangible fixed assets | 22/27 | €126,079 | €139,332 | +€13,253 | +10.5% |
| Plant, machinery and equipment | 23 | €15,213 | €14,716 | -€497 | -3.3% |
| Furniture and vehicles | 24 | €25,598 | €17,933 | -€7,665 | -29.9% |
| Other tangible fixed assets | 26 | €85,269 | €106,683 | +€21,414 | +25.1% |
| Financial fixed assets | 28 | €3,050 | €3,050 | = | 0.0% |
| Current assets | 29/58 | €98,401 | €108,485 | +€10,084 | +10.2% |
| Stocks and contracts in progress | 3 | €45,000 | €45,000 | = | 0.0% |
| Stocks | 30/36 | €45,000 | €45,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,287 | €34,259 | +€5,972 | +21.1% |
| Trade receivables | 40 | €30 | - | -€30 | |
| Other amounts receivable | 41 | €28,257 | €34,259 | +€6,002 | +21.2% |
| Cash at bank and in hand | 54/58 | €24,445 | €29,226 | +€4,781 | +19.6% |
| Deferred charges and accrued income | 490/1 | €669 | - | -€669 | |
| Total equity and liabilities | 10/49 | €227,530 | €250,866 | +€23,336 | +10.3% |
| Equity | 10/15 | €68,782 | €92,228 | +€23,446 | +34.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,596 | €5,596 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,736 | €3,736 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,586 | €68,032 | +€23,446 | +52.6% |
| Amounts payable | 17/49 | €158,748 | €158,638 | -€110 | -0.1% |
| Amounts payable within one year | 42/48 | €158,748 | €158,638 | -€110 | -0.1% |
| Trade debts | 44 | €68,255 | €59,266 | -€8,989 | -13.2% |
| Suppliers | 440/4 | €68,255 | €59,266 | -€8,989 | -13.2% |
| Taxes, remuneration and social security | 45 | €13,310 | €26,642 | +€13,332 | +100.2% |
| Taxes | 450/3 | €13,310 | €21,842 | +€8,532 | +64.1% |
| Remuneration and social security | 454/9 | - | €4,800 | +€4,800 | |
| Other amounts payable | 47/48 | €77,183 | €72,730 | -€4,453 | -5.8% |
| Remuneration, social security and pensions | 62 | -€1,089 | - | +€1,089 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,630 | €29,510 | +€5,879 | +24.9% |
| Other operating charges | 640/8 | €1,106 | €621 | -€484 | -43.8% |
| Gross operating margin | 9900 | €35,128 | €63,761 | +€28,633 | +81.5% |
| Operating profit (loss) | 9901 | €11,481 | €33,631 | +€22,149 | +192.9% |
| Financial income | 75/76B | €2,329 | - | -€2,329 | |
| Recurring financial income | 75 | €2,329 | - | -€2,329 | |
| Financial charges | 65/66B | €1,785 | €1,653 | -€132 | -7.4% |
| Recurring financial charges | 65 | €1,785 | €1,653 | -€132 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €12,026 | €31,978 | +€19,952 | +165.9% |
| Income taxes | 67/77 | €2,938 | €8,532 | +€5,594 | +190.4% |
| Profit (loss) for the period | 9904 | €9,088 | €23,446 | +€14,358 | +158.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,088 | €23,446 | +€14,358 | +158.0% |
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 10 October 2026 via checked.be.