BAND: 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.
BAND
Largest movements
- Receivables within one year +€50,643
up €50,643 (+15.7%), from €323,467 to €374,110
of which Other amounts receivable: +€77,575
- Cash -€24,250
down €24,250 (-91.9%), from €26,389 to €2,139
mainly Receivables within one year (-€50,643) and Investment in fixed assets (net) (-€25,144)
- Tangible fixed assets +€5,774
up €5,774 (+15.3%), from €37,774 to €43,548
of which Furniture and vehicles: +€7,568
- Debts after one year +€25,000
up €25,000 (+33.2%), from €75,400 to €100,400
of which Financial debts: +€25,000
- Trade debts -€24,034
down €24,034 (-55.0%), from €43,711 to €19,677
- Profit (loss) carried forward +€16,100
up €16,100 (+37.1%), from €43,348 to €59,448
- Other debts +€9,615
up €9,615 (+236.4%), from €4,068 to €13,683
- Tax, wage and social debts +€5,490
up €5,490 (+22.6%), from €24,290 to €29,780
of which Remuneration and social security: +€7,254
- Gross operating margin +€61,791
up €61,791 (+29.4%), from €209,910 to €271,701
- Taxes +€11,998
up €11,998, from €0 to €11,998
- Depreciation +€5,716
up €5,716 (+41.9%), from €13,655 to €19,370
- Financial charges +€4,249
up €4,249 (+150.8%), from €2,817 to €7,066
- Staff costs +€3,538
up €3,538 (+1.6%), from €216,729 to €220,267
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 | €387,631 | €419,797 | +€32,166 | +8.3% |
| Fixed assets | 21/28 | €37,774 | €43,548 | +€5,774 | +15.3% |
| Tangible fixed assets | 22/27 | €37,774 | €43,548 | +€5,774 | +15.3% |
| Plant, machinery and equipment | 23 | €9,542 | €5,297 | -€4,245 | -44.5% |
| Furniture and vehicles | 24 | €22,066 | €29,635 | +€7,568 | +34.3% |
| Other tangible fixed assets | 26 | €6,166 | €8,617 | +€2,451 | +39.7% |
| Current assets | 29/58 | €349,856 | €376,249 | +€26,392 | +7.5% |
| Amounts receivable within one year | 40/41 | €323,467 | €374,110 | +€50,643 | +15.7% |
| Trade receivables | 40 | €28,107 | €1,174 | -€26,933 | -95.8% |
| Other amounts receivable | 41 | €295,360 | €372,935 | +€77,575 | +26.3% |
| Cash at bank and in hand | 54/58 | €26,389 | €2,139 | -€24,250 | -91.9% |
| Total equity and liabilities | 10/49 | €387,631 | €419,797 | +€32,166 | +8.3% |
| Equity | 10/15 | €236,349 | €252,449 | +€16,100 | +6.8% |
| Contributions | 10/11 | €189,750 | €189,750 | = | 0.0% |
| Capital | 10 | €189,750 | €189,750 | = | 0.0% |
| Issued capital | 100 | €189,750 | €189,750 | = | 0.0% |
| Reserves | 13 | €3,251 | €3,251 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,251 | €3,251 | = | 0.0% |
| Legal reserve | 130 | €3,251 | €3,251 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,348 | €59,448 | +€16,100 | +37.1% |
| Amounts payable | 17/49 | €151,281 | €167,348 | +€16,066 | +10.6% |
| Amounts payable after more than one year | 17 | €75,400 | €100,400 | +€25,000 | +33.2% |
| Financial debts | 170/4 | €75,000 | €100,000 | +€25,000 | +33.3% |
| Other amounts payable | 178/9 | €400 | €400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €75,881 | €66,948 | -€8,934 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €3,812 | €3,807 | -€5 | -0.1% |
| Trade debts | 44 | €43,711 | €19,677 | -€24,034 | -55.0% |
| Suppliers | 440/4 | €43,711 | €19,677 | -€24,034 | -55.0% |
| Taxes, remuneration and social security | 45 | €24,290 | €29,780 | +€5,490 | +22.6% |
| Taxes | 450/3 | €5,564 | €3,800 | -€1,764 | -31.7% |
| Remuneration and social security | 454/9 | €18,726 | €25,980 | +€7,254 | +38.7% |
| Other amounts payable | 47/48 | €4,068 | €13,683 | +€9,615 | +236.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €216,729 | €220,267 | +€3,538 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,655 | €19,370 | +€5,716 | +41.9% |
| Other operating charges | 640/8 | €1,436 | €1,580 | +€144 | +10.0% |
| Non-recurring operating charges | 66A | €1,365 | €0 | -€1,365 | -100.0% |
| Gross operating margin | 9900 | €209,910 | €271,701 | +€61,791 | +29.4% |
| Operating profit (loss) | 9901 | -€23,275 | €30,484 | +€53,759 | |
| Financial income | 75/76B | €3,847 | €4,680 | +€833 | +21.6% |
| Recurring financial income | 75 | €3,847 | €4,680 | +€833 | +21.6% |
| Financial charges | 65/66B | €2,817 | €7,066 | +€4,249 | +150.8% |
| Recurring financial charges | 65 | €2,817 | €7,066 | +€4,249 | +150.8% |
| Profit (loss) for the period before taxes | 9903 | -€22,244 | €28,098 | +€50,343 | |
| Income taxes | 67/77 | €0 | €11,998 | +€11,998 | |
| Profit (loss) for the period | 9904 | -€22,244 | €16,100 | +€38,344 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,244 | €16,100 | +€38,344 |
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 30 September 2026 via checked.be.