BELGIAN BALANCE: 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.
BELGIAN BALANCE
Largest movements
- Receivables within one year +€19,423
up €19,423 (+388%), from €5,010 to €24,433
of which Trade receivables: +€14,353
- Intangible fixed assets +€7,407
new in 2025: €7,407
- Stocks and contracts +€5,712
up €5,712 (+355%), from €1,608 to €7,320
- Cash +€5,378
up €5,378 (+45.2%), from €11,909 to €17,287
mainly Trade debts (+€20,051) and Other debts (+€10,116)
- Trade debts +€20,051
up €20,051 (+1,247%), from €1,608 to €21,658
- Other debts +€10,116
up €10,116 (+202%), from €5,000 to €15,116
- Profit (loss) carried forward +€7,753
up €7,753 (+112%), from €6,919 to €14,672
- Gross operating margin +€5,048
up €5,048 (+80.3%), from €6,285 to €11,333
- Depreciation +€3,703
new in 2025: €3,703
- Financial income -€505
down €505 (-72.1%), from €700 to €196
of which Non-recurring financial income: -€700
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 | €18,527 | €56,447 | +€37,920 | +205% |
| Fixed assets | 21/28 | - | €7,407 | +€7,407 | |
| Intangible fixed assets | 21 | - | €7,407 | +€7,407 | |
| Current assets | 29/58 | €18,527 | €49,040 | +€30,513 | +165% |
| Stocks and contracts in progress | 3 | €1,608 | €7,320 | +€5,712 | +355% |
| Stocks | 30/36 | €1,608 | €7,320 | +€5,712 | +355% |
| Amounts receivable within one year | 40/41 | €5,010 | €24,433 | +€19,423 | +388% |
| Trade receivables | 40 | €4,679 | €19,032 | +€14,353 | +307% |
| Other amounts receivable | 41 | €331 | €5,401 | +€5,070 | +1,534% |
| Cash at bank and in hand | 54/58 | €11,909 | €17,287 | +€5,378 | +45.2% |
| Total equity and liabilities | 10/49 | €18,527 | €56,447 | +€37,920 | +205% |
| Equity | 10/15 | €11,919 | €19,672 | +€7,753 | +65.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,919 | €14,672 | +€7,753 | +112% |
| Amounts payable | 17/49 | €6,608 | €36,774 | +€30,167 | +457% |
| Amounts payable within one year | 42/48 | €6,608 | €36,774 | +€30,167 | +457% |
| Trade debts | 44 | €1,608 | €21,658 | +€20,051 | +1,247% |
| Suppliers | 440/4 | €1,608 | €21,658 | +€20,051 | +1,247% |
| Other amounts payable | 47/48 | €5,000 | €15,116 | +€10,116 | +202% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,703 | +€3,703 | |
| Gross operating margin | 9900 | €6,285 | €11,333 | +€5,048 | +80.3% |
| Operating profit (loss) | 9901 | €6,285 | €7,630 | +€1,345 | +21.4% |
| Financial income | 75/76B | €700 | €196 | -€505 | -72.1% |
| Recurring financial income | 75 | €700 | €196 | -€505 | -72.1% |
| Non-recurring financial income | 76B | €700 | - | -€700 | |
| Financial charges | 65/66B | €66 | €72 | +€6 | +9.7% |
| Recurring financial charges | 65 | €66 | €72 | +€6 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €6,919 | €7,753 | +€834 | +12.1% |
| Profit (loss) for the period | 9904 | €6,919 | €7,753 | +€834 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,919 | €7,753 | +€834 | +12.1% |
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 27 October 2026 via checked.be.