Billy: 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.
Billy
Largest movements
- Financial fixed assets +€1.4m
up €1.4m (+934509.5%), from €146 to €1.4m
- Formation expenses -€339,795
down €339,795 (-19.0%), from €1.8m to €1.4m
- Current investments -€250,000
down €250,000 (-100.0%), from €250,000 to €0
- Intangible fixed assets +€166,480
up €166,480 (+76.4%), from €217,914 to €384,395
- Deferred charges and accrued income +€84,818
up €84,818 (+26226.1%), from €323 to €85,141
- Debts after one year +€617,667
up €617,667 (+130.9%), from €471,787 to €1.1m
of which Financial debts: +€367,668
- Contributions +€597,844
up €597,844 (+20.9%), from €2.9m to €3.5m
of which Contributions outside capital: +€351,413
- Profit (loss) carried forward -€414,106
down €414,106 (-38.0%), from -€1.1m to -€1.5m
- Accrued charges and deferred income +€167,945
up €167,945 (+19200.5%), from €875 to €168,820
- Trade debts -€148,605
down €148,605 (-56.9%), from €261,261 to €112,656
- Depreciation +€385,932
up €385,932 (+1315.5%), from €29,337 to €415,269
- Staff costs +€150,053
up €150,053 (+66.2%), from €226,797 to €376,849
- Gross operating margin +€143,011
up €143,011 (+50.7%), from €281,935 to €424,945
- Other operating charges +€12,844
up €12,844 (+4523.7%), from €284 to €13,127
- Financial charges +€10,406
up €10,406 (+41.7%), from €24,955 to €35,361
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 | €2,785,974 | €3,669,603 | +€883,630 | +31.7% |
| Formation expenses | 20 | €1,784,584 | €1,444,790 | -€339,795 | -19.0% |
| Fixed assets | 21/28 | €223,584 | €1,762,294 | +€1.5m | +688.2% |
| Intangible fixed assets | 21 | €217,914 | €384,395 | +€166,480 | +76.4% |
| Tangible fixed assets | 22/27 | €5,523 | €9,631 | +€4,108 | +74.4% |
| Plant, machinery and equipment | 23 | €1,107 | €7,627 | +€6,520 | +588.7% |
| Furniture and vehicles | 24 | €4,415 | €2,004 | -€2,412 | -54.6% |
| Financial fixed assets | 28 | €146 | €1,368,268 | +€1.4m | +934509.5% |
| Current assets | 29/58 | €777,806 | €462,520 | -€315,286 | -40.5% |
| Amounts receivable within one year | 40/41 | €335,268 | €258,653 | -€76,615 | -22.9% |
| Trade receivables | 40 | €240,752 | €165,001 | -€75,752 | -31.5% |
| Other amounts receivable | 41 | €94,516 | €93,652 | -€863 | -0.9% |
| Current investments | 50/53 | €250,000 | €0 | -€250,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €192,214 | €118,726 | -€73,488 | -38.2% |
| Deferred charges and accrued income | 490/1 | €323 | €85,141 | +€84,818 | +26226.1% |
| Total equity and liabilities | 10/49 | €2,785,974 | €3,669,603 | +€883,630 | +31.7% |
| Equity | 10/15 | €1,772,598 | €1,956,335 | +€183,737 | +10.4% |
| Contributions | 10/11 | €2,861,482 | €3,459,326 | +€597,844 | +20.9% |
| Capital | 10 | €2,391,524 | €2,637,954 | +€246,431 | +10.3% |
| Issued capital | 100 | €2,391,524 | €2,637,954 | +€246,431 | +10.3% |
| Contributions outside capital | 11 | €469,958 | €821,371 | +€351,413 | +74.8% |
| Share premium | 1100/10 | €469,958 | €821,371 | +€351,413 | +74.8% |
| Profit (loss) carried forward | 14 | -€1,088,884 | -€1,502,990 | -€414,106 | -38.0% |
| Amounts payable | 17/49 | €1,013,376 | €1,713,268 | +€699,893 | +69.1% |
| Amounts payable after more than one year | 17 | €471,787 | €1,089,453 | +€617,667 | +130.9% |
| Financial debts | 170/4 | €471,787 | €839,454 | +€367,668 | +77.9% |
| Other amounts payable | 178/9 | - | €249,999 | +€249,999 | |
| Amounts payable within one year | 42/48 | €540,714 | €454,995 | -€85,719 | -15.9% |
| Current portion of amounts payable after more than one year | 42 | €202,728 | €232,332 | +€29,604 | +14.6% |
| Trade debts | 44 | €261,261 | €112,656 | -€148,605 | -56.9% |
| Suppliers | 440/4 | €261,261 | €112,656 | -€148,605 | -56.9% |
| Taxes, remuneration and social security | 45 | €76,560 | €99,628 | +€23,069 | +30.1% |
| Taxes | 450/3 | €39,818 | €58,404 | +€18,586 | +46.7% |
| Remuneration and social security | 454/9 | €36,742 | €41,224 | +€4,482 | +12.2% |
| Other amounts payable | 47/48 | €165 | €10,379 | +€10,213 | +6178.0% |
| Accrued charges and deferred income | 492/3 | €875 | €168,820 | +€167,945 | +19200.5% |
| Remuneration, social security and pensions | 62 | €226,797 | €376,849 | +€150,053 | +66.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,337 | €415,269 | +€385,932 | +1315.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,199 | €0 | -€9,199 | -100.0% |
| Other operating charges | 640/8 | €284 | €13,127 | +€12,844 | +4523.7% |
| Non-recurring operating charges | 66A | €8,650 | €0 | -€8,650 | -100.0% |
| Gross operating margin | 9900 | €281,935 | €424,945 | +€143,011 | +50.7% |
| Operating profit (loss) | 9901 | €7,668 | -€380,301 | -€387,968 | |
| Financial income | 75/76B | €9,266 | €1,599 | -€7,667 | -82.7% |
| Recurring financial income | 75 | €9,266 | €1,599 | -€7,667 | -82.7% |
| Financial charges | 65/66B | €24,955 | €35,361 | +€10,406 | +41.7% |
| Recurring financial charges | 65 | €24,955 | €35,361 | +€10,406 | +41.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,022 | -€414,064 | -€406,042 | -5061.9% |
| Income taxes | 67/77 | €3,013 | €43 | -€2,971 | -98.6% |
| Profit (loss) for the period | 9904 | -€11,035 | -€414,106 | -€403,071 | -3652.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,035 | -€414,106 | -€403,071 | -3652.7% |
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 11 October 2026 via checked.be.