Beyond Z: 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.
Beyond Z
Largest movements
- Cash +€144,172
up €144,172 (+48.9%), from €294,576 to €438,748
mainly Other debts (+€235,514) and Net result for the year (+€199,201)
- Receivables after one year -€21,116
no longer reported in 2025 (was €21,116)
- Receivables within one year +€11,169
up €11,169 (+161%), from €6,945 to €18,114
of which Other amounts receivable: +€11,019
- Other debts +€235,514
up €235,514 (+22,554%), from €1,044 to €236,558
- Reserves -€196,758
down €196,758 (-62.2%), from €316,500 to €119,742
- Profit (loss) carried forward +€79,459
no longer reported in 2025 (was -€79,459)
- Tax, wage and social debts +€18,747
up €18,747 (+53.9%), from €34,803 to €53,550
- Gross operating margin +€100,969
up €100,969 (+56.4%), from €179,013 to €279,982
- Taxes +€57,891
up €57,891 (+274%), from €21,090 to €78,981
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 | €400,377 | €532,692 | +€132,316 | +33.0% |
| Fixed assets | 21/28 | €77,740 | €75,831 | -€1,909 | -2.5% |
| Tangible fixed assets | 22/27 | €5,240 | €3,331 | -€1,909 | -36.4% |
| Plant, machinery and equipment | 23 | €3,198 | €2,012 | -€1,187 | -37.1% |
| Furniture and vehicles | 24 | €2,042 | €1,319 | -€722 | -35.4% |
| Financial fixed assets | 28 | €72,500 | €72,500 | = | 0.0% |
| Current assets | 29/58 | €322,637 | €456,861 | +€134,224 | +41.6% |
| Amounts receivable after more than one year | 29 | €21,116 | - | -€21,116 | |
| Other amounts receivable | 291 | €21,116 | - | -€21,116 | |
| Amounts receivable within one year | 40/41 | €6,945 | €18,114 | +€11,169 | +161% |
| Trade receivables | 40 | €6,945 | €7,095 | +€150 | +2.2% |
| Other amounts receivable | 41 | - | €11,019 | +€11,019 | |
| Cash at bank and in hand | 54/58 | €294,576 | €438,748 | +€144,172 | +48.9% |
| Total equity and liabilities | 10/49 | €400,377 | €532,692 | +€132,316 | +33.0% |
| Equity | 10/15 | €355,641 | €238,342 | -€117,299 | -33.0% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Reserves | 13 | €316,500 | €119,742 | -€196,758 | -62.2% |
| Distributable reserves | 133 | €316,500 | €119,742 | -€196,758 | -62.2% |
| Profit (loss) carried forward | 14 | -€79,459 | - | +€79,459 | |
| Amounts payable | 17/49 | €44,736 | €294,350 | +€249,615 | +558% |
| Amounts payable within one year | 42/48 | €44,736 | €294,350 | +€249,615 | +558% |
| Trade debts | 44 | €8,888 | €4,242 | -€4,647 | -52.3% |
| Suppliers | 440/4 | €8,888 | €4,242 | -€4,647 | -52.3% |
| Taxes, remuneration and social security | 45 | €34,803 | €53,550 | +€18,747 | +53.9% |
| Taxes | 450/3 | €34,803 | €53,550 | +€18,747 | +53.9% |
| Other amounts payable | 47/48 | €1,044 | €236,558 | +€235,514 | +22,554% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,909 | €1,909 | = | 0.0% |
| Other operating charges | 640/8 | €1,095 | €183 | -€911 | -83.2% |
| Gross operating margin | 9900 | €179,013 | €279,982 | +€100,969 | +56.4% |
| Operating profit (loss) | 9901 | €176,009 | €277,890 | +€101,880 | +57.9% |
| Financial income | 75/76B | - | €1,477 | +€1,477 | |
| Recurring financial income | 75 | - | €1,477 | +€1,477 | |
| Financial charges | 65/66B | €1,605 | €1,185 | -€420 | -26.2% |
| Recurring financial charges | 65 | €1,605 | €1,185 | -€420 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €174,404 | €278,182 | +€103,778 | +59.5% |
| Income taxes | 67/77 | €21,090 | €78,981 | +€57,891 | +274% |
| Profit (loss) for the period | 9904 | €153,314 | €199,201 | +€45,887 | +29.9% |
| Transfer from tax-exempt reserves | 789 | €2,294 | - | -€2,294 | |
| Profit (loss) for the period to be appropriated | 9905 | €155,608 | €199,201 | +€43,593 | +28.0% |
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 13 October 2026 via checked.be.