BEHIND THE SCENE: 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.
BEHIND THE SCENE
Largest movements
- Receivables within one year +€88,367
up €88,367 (+241%), from €36,625 to €124,993
of which Trade receivables: +€90,361
- Cash -€12,936
down €12,936 (-83.1%), from €15,565 to €2,629
mainly Receivables within one year (-€88,367) and Other debts (-€12,000)
- Deferred charges and accrued income -€10,869
down €10,869 (-63.7%), from €17,059 to €6,190
- Tangible fixed assets -€4,220
down €4,220 (-24.6%), from €17,168 to €12,949
of which Furniture and vehicles: -€3,474
- Trade debts +€52,089
up €52,089 (+414%), from €12,571 to €64,660
- Other debts -€12,000
no longer reported in 2025 (was €12,000)
- Profit (loss) carried forward +€8,618
up €8,618 (+20.4%), from €42,201 to €50,819
- Tax, wage and social debts +€6,509
up €6,509 (+185%), from €3,523 to €10,031
- Current portion of long-term debt +€5,072
new in 2025: €5,072
- Gross operating margin -€50,666
down €50,666 (-68.0%), from €74,487 to €23,822
- Taxes -€10,885
down €10,885 (-60.2%), from €18,090 to €7,205
- Other operating charges +€1,640
up €1,640 (+143%), from €1,148 to €2,788
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.
Derived cash bridge
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 | €88,894 | €149,237 | +€60,343 | +67.9% |
| Fixed assets | 21/28 | €19,645 | €15,425 | -€4,220 | -21.5% |
| Tangible fixed assets | 22/27 | €17,168 | €12,949 | -€4,220 | -24.6% |
| Furniture and vehicles | 24 | €10,726 | €7,252 | -€3,474 | -32.4% |
| Other tangible fixed assets | 26 | €6,442 | €5,697 | -€746 | -11.6% |
| Financial fixed assets | 28 | €2,477 | €2,477 | = | 0.0% |
| Current assets | 29/58 | €69,249 | €133,811 | +€64,562 | +93.2% |
| Amounts receivable within one year | 40/41 | €36,625 | €124,993 | +€88,367 | +241% |
| Trade receivables | 40 | - | €90,361 | +€90,361 | |
| Other amounts receivable | 41 | €36,625 | €34,632 | -€1,993 | -5.4% |
| Cash at bank and in hand | 54/58 | €15,565 | €2,629 | -€12,936 | -83.1% |
| Deferred charges and accrued income | 490/1 | €17,059 | €6,190 | -€10,869 | -63.7% |
| Total equity and liabilities | 10/49 | €88,894 | €149,237 | +€60,343 | +67.9% |
| Equity | 10/15 | €60,801 | €69,419 | +€8,618 | +14.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,201 | €50,819 | +€8,618 | +20.4% |
| Amounts payable | 17/49 | €28,093 | €79,818 | +€51,725 | +184% |
| Amounts payable within one year | 42/48 | €28,093 | €79,763 | +€51,669 | +184% |
| Current portion of amounts payable after more than one year | 42 | - | €5,072 | +€5,072 | |
| Trade debts | 44 | €12,571 | €64,660 | +€52,089 | +414% |
| Suppliers | 440/4 | €12,571 | €64,660 | +€52,089 | +414% |
| Taxes, remuneration and social security | 45 | €3,523 | €10,031 | +€6,509 | +185% |
| Taxes | 450/3 | €3,523 | €10,031 | +€6,509 | +185% |
| Other amounts payable | 47/48 | €12,000 | - | -€12,000 | |
| Accrued charges and deferred income | 492/3 | - | €55 | +€55 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,809 | €4,220 | +€410 | +10.8% |
| Other operating charges | 640/8 | €1,148 | €2,788 | +€1,640 | +143% |
| Gross operating margin | 9900 | €74,487 | €23,822 | -€50,666 | -68.0% |
| Operating profit (loss) | 9901 | €69,530 | €16,815 | -€52,715 | -75.8% |
| Financial income | 75/76B | €1,381 | €1,851 | +€470 | +34.0% |
| Recurring financial income | 75 | €1,381 | €1,851 | +€470 | +34.0% |
| Financial charges | 65/66B | €3,027 | €2,842 | -€184 | -6.1% |
| Recurring financial charges | 65 | €3,027 | €2,842 | -€184 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €67,885 | €15,823 | -€52,062 | -76.7% |
| Income taxes | 67/77 | €18,090 | €7,205 | -€10,885 | -60.2% |
| Profit (loss) for the period | 9904 | €49,795 | €8,618 | -€41,177 | -82.7% |
| Profit (loss) for the period to be appropriated | 9905 | €49,795 | €8,618 | -€41,177 | -82.7% |
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 15 October 2026 via checked.be.