Black: what changed
Black
Largest movements
- Cash +€143,481
up €143,481 (+26.1%), from €548,999 to €692,480
mainly Net result for the year (+€160,730) and Other debts (+€143,008)
- Tangible fixed assets -€35,395
down €35,395 (-24.7%), from €143,498 to €108,103
of which Other tangible fixed assets: -€33,786
- Receivables within one year +€15,754
up €15,754 (+41.7%), from €37,788 to €53,542
of which Trade receivables: +€15,364
- Other debts +€143,008
up €143,008 (+390%), from €36,677 to €179,684
- Trade debts -€45,091
down €45,091 (-89.7%), from €50,290 to €5,199
- Reserves +€21,000
up €21,000 (+3.8%), from €556,000 to €577,000
- Gross operating margin +€22,142
up €22,142 (+9.3%), from €239,305 to €261,447
- Taxes +€19,820
up €19,820 (+55.9%), from €35,446 to €55,266
- Depreciation +€7,596
up €7,596 (+25.7%), from €29,540 to €37,136
- Other operating charges +€2,706
up €2,706 (+122%), from €2,223 to €4,929
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €736,893 | €855,840 | +€118,946 | +16.1% |
| Fixed assets | 21/28 | €143,498 | €108,103 | -€35,395 | -24.7% |
| Tangible fixed assets | 22/27 | €143,498 | €108,103 | -€35,395 | -24.7% |
| Furniture and vehicles | 24 | €7,520 | €5,911 | -€1,610 | -21.4% |
| Other tangible fixed assets | 26 | €135,977 | €102,192 | -€33,786 | -24.8% |
| Current assets | 29/58 | €593,395 | €747,737 | +€154,342 | +26.0% |
| Amounts receivable within one year | 40/41 | €37,788 | €53,542 | +€15,754 | +41.7% |
| Trade receivables | 40 | €37,788 | €53,152 | +€15,364 | +40.7% |
| Other amounts receivable | 41 | - | €390 | +€390 | |
| Cash at bank and in hand | 54/58 | €548,999 | €692,480 | +€143,481 | +26.1% |
| Deferred charges and accrued income | 490/1 | €6,609 | €1,715 | -€4,893 | -74.0% |
| Total equity and liabilities | 10/49 | €736,893 | €855,840 | +€118,946 | +16.1% |
| Equity | 10/15 | €581,950 | €602,680 | +€20,730 | +3.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €556,000 | €577,000 | +€21,000 | +3.8% |
| Distributable reserves | 133 | €556,000 | €577,000 | +€21,000 | +3.8% |
| Profit (loss) carried forward | 14 | €950 | €680 | -€270 | -28.4% |
| Amounts payable | 17/49 | €154,943 | €253,159 | +€98,217 | +63.4% |
| Amounts payable within one year | 42/48 | €154,943 | €253,159 | +€98,217 | +63.4% |
| Trade debts | 44 | €50,290 | €5,199 | -€45,091 | -89.7% |
| Suppliers | 440/4 | €50,290 | €5,199 | -€45,091 | -89.7% |
| Taxes, remuneration and social security | 45 | €67,976 | €68,276 | +€300 | +0.4% |
| Taxes | 450/3 | €61,226 | €66,521 | +€5,295 | +8.6% |
| Remuneration and social security | 454/9 | €6,750 | €1,755 | -€4,995 | -74.0% |
| Other amounts payable | 47/48 | €36,677 | €179,684 | +€143,008 | +390% |
| Non-recurring operating income | 76A | - | €33,434 | +€33,434 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,540 | €37,136 | +€7,596 | +25.7% |
| Other operating charges | 640/8 | €2,223 | €4,929 | +€2,706 | +122% |
| Non-recurring operating charges | 66A | €4,252 | €0 | -€4,252 | -100% |
| Gross operating margin | 9900 | €239,305 | €261,447 | +€22,142 | +9.3% |
| Operating profit (loss) | 9901 | €203,290 | €219,382 | +€16,092 | +7.9% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €1,441 | €3,386 | +€1,945 | +135% |
| Recurring financial charges | 65 | €1,441 | €3,386 | +€1,945 | +135% |
| Profit (loss) for the period before taxes | 9903 | €201,850 | €215,996 | +€14,146 | +7.0% |
| Income taxes | 67/77 | €35,446 | €55,266 | +€19,820 | +55.9% |
| Profit (loss) for the period | 9904 | €166,403 | €160,730 | -€5,674 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €166,403 | €160,730 | -€5,674 | -3.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.