BALZAK: 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.
BALZAK
Largest movements
- Receivables within one year +€34,457
up €34,457 (+28.5%), from €120,766 to €155,223
of which Other amounts receivable: +€18,984
- Cash -€5,824
down €5,824 (-57.8%), from €10,072 to €4,247
mainly Receivables within one year (-€34,457)
- Profit (loss) carried forward +€24,196
up €24,196 (+14.0%), from €173,176 to €197,373
- Trade debts +€3,587
up €3,587 (+659.9%), from €544 to €4,131
- Gross operating margin +€20,588
up €20,588 (+69.7%), from €29,534 to €50,121
- Staff costs -€7,600
down €7,600 (-24.1%), from €31,600 to €24,000
- Taxes -€4,947
down €4,947 (-82.2%), from €6,019 to €1,072
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 | €241,920 | €270,553 | +€28,633 | +11.8% |
| Fixed assets | 21/28 | €111,083 | €111,083 | = | 0.0% |
| Tangible fixed assets | 22/27 | €111,083 | €111,083 | = | 0.0% |
| Land and buildings | 22 | €111,083 | €111,083 | = | 0.0% |
| Current assets | 29/58 | €130,837 | €159,470 | +€28,633 | +21.9% |
| Amounts receivable within one year | 40/41 | €120,766 | €155,223 | +€34,457 | +28.5% |
| Trade receivables | 40 | €40,910 | €56,384 | +€15,474 | +37.8% |
| Other amounts receivable | 41 | €79,856 | €98,840 | +€18,984 | +23.8% |
| Cash at bank and in hand | 54/58 | €10,072 | €4,247 | -€5,824 | -57.8% |
| Total equity and liabilities | 10/49 | €241,920 | €270,553 | +€28,633 | +11.8% |
| Equity | 10/15 | €241,376 | €265,573 | +€24,196 | +10.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €173,176 | €197,373 | +€24,196 | +14.0% |
| Amounts payable | 17/49 | €544 | €4,980 | +€4,437 | +816.2% |
| Amounts payable within one year | 42/48 | €544 | €4,980 | +€4,437 | +816.2% |
| Trade debts | 44 | €544 | €4,131 | +€3,587 | +659.9% |
| Suppliers | 440/4 | €544 | €4,131 | +€3,587 | +659.9% |
| Taxes, remuneration and social security | 45 | - | €850 | +€850 | |
| Taxes | 450/3 | - | €850 | +€850 | |
| Remuneration, social security and pensions | 62 | €31,600 | €24,000 | -€7,600 | -24.1% |
| Gross operating margin | 9900 | €29,534 | €50,121 | +€20,588 | +69.7% |
| Operating profit (loss) | 9901 | -€2,066 | €26,121 | +€28,188 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €670 | €853 | +€183 | +27.4% |
| Recurring financial charges | 65 | €670 | €853 | +€183 | +27.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,736 | €25,268 | +€28,004 | |
| Income taxes | 67/77 | €6,019 | €1,072 | -€4,947 | -82.2% |
| Profit (loss) for the period | 9904 | -€8,755 | €24,196 | +€32,952 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,755 | €24,196 | +€32,952 |
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.