Box 2 be: what changed
Two fiscal 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.
Box 2 be
Largest movements
- Cash +€103,358
up €103,358 (+385.3%), from €26,826 to €130,184
mainly Net result for the year (+€74,775) and Current portion of long-term debt (+€24,952)
- Tangible fixed assets +€6,759
up €6,759 (+6.4%), from €105,169 to €111,928
of which Other tangible fixed assets: +€12,454
- Receivables within one year -€4,383
down €4,383 (-26.4%), from €16,606 to €12,223
of which Trade receivables: -€9,576
- Profit (loss) carried forward +€45,364
up €45,364 (+417.8%), from €10,857 to €56,220
- Current portion of long-term debt +€24,952
up €24,952 (+1000.4%), from €2,494 to €27,446
- Other debts +€17,565
up €17,565 (+125.2%), from €14,035 to €31,600
- Accrued charges and deferred income +€9,372
new in 2025: €9,372
- Advances received -€8,881
down €8,881 (-81.8%), from €10,862 to €1,981
- Gross operating margin +€87,625
up €87,625 (+280.7%), from €31,213 to €118,839
- Taxes +€15,816
up €15,816 (+375.8%), from €4,209 to €20,025
- Financial charges +€6,478
up €6,478 (+176.8%), from €3,664 to €10,142
- Depreciation +€5,194
up €5,194 (+82.7%), from €6,281 to €11,475
- Other operating charges +€1,649
up €1,649 (+188.7%), from €874 to €2,523
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 | €149,740 | €254,854 | +€105,114 | +70.2% |
| Fixed assets | 21/28 | €105,169 | €111,928 | +€6,759 | +6.4% |
| Tangible fixed assets | 22/27 | €105,169 | €111,928 | +€6,759 | +6.4% |
| Land and buildings | 22 | €63,821 | €61,995 | -€1,826 | -2.9% |
| Plant, machinery and equipment | 23 | €3,544 | €2,795 | -€750 | -21.2% |
| Furniture and vehicles | 24 | €22,114 | €18,995 | -€3,119 | -14.1% |
| Other tangible fixed assets | 26 | €15,689 | €28,143 | +€12,454 | +79.4% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €44,571 | €142,926 | +€98,354 | +220.7% |
| Amounts receivable within one year | 40/41 | €16,606 | €12,223 | -€4,383 | -26.4% |
| Trade receivables | 40 | €16,541 | €6,965 | -€9,576 | -57.9% |
| Other amounts receivable | 41 | €65 | €5,258 | +€5,193 | +8039.3% |
| Cash at bank and in hand | 54/58 | €26,826 | €130,184 | +€103,358 | +385.3% |
| Deferred charges and accrued income | 490/1 | €1,140 | €519 | -€621 | -54.5% |
| Total equity and liabilities | 10/49 | €149,740 | €254,854 | +€105,114 | +70.2% |
| Equity | 10/15 | €13,857 | €59,220 | +€45,364 | +327.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,857 | €56,220 | +€45,364 | +417.8% |
| Amounts payable | 17/49 | €135,883 | €195,634 | +€59,750 | +44.0% |
| Amounts payable after more than one year | 17 | €91,754 | €98,555 | +€6,801 | +7.4% |
| Financial debts | 170/4 | €91,754 | €98,555 | +€6,801 | +7.4% |
| Amounts payable within one year | 42/48 | €44,130 | €87,707 | +€43,577 | +98.7% |
| Current portion of amounts payable after more than one year | 42 | €2,494 | €27,446 | +€24,952 | +1000.4% |
| Financial debts | 43 | €3,500 | €0 | -€3,500 | -100.0% |
| Credit institutions | 430/8 | €3,500 | €0 | -€3,500 | -100.0% |
| Trade debts | 44 | €4,337 | €9,369 | +€5,032 | +116.0% |
| Suppliers | 440/4 | €4,337 | €9,369 | +€5,032 | +116.0% |
| Advances received on contracts in progress | 46 | €10,862 | €1,981 | -€8,881 | -81.8% |
| Taxes, remuneration and social security | 45 | €8,901 | €17,311 | +€8,409 | +94.5% |
| Taxes | 450/3 | €8,901 | €17,311 | +€8,409 | +94.5% |
| Other amounts payable | 47/48 | €14,035 | €31,600 | +€17,565 | +125.2% |
| Accrued charges and deferred income | 492/3 | - | €9,372 | +€9,372 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,281 | €11,475 | +€5,194 | +82.7% |
| Other operating charges | 640/8 | €874 | €2,523 | +€1,649 | +188.7% |
| Gross operating margin | 9900 | €31,213 | €118,839 | +€87,625 | +280.7% |
| Operating profit (loss) | 9901 | €24,059 | €104,841 | +€80,782 | +335.8% |
| Financial income | 75/76B | €6 | €102 | +€96 | +1574.7% |
| Recurring financial income | 75 | €6 | €102 | +€96 | +1574.7% |
| Financial charges | 65/66B | €3,664 | €10,142 | +€6,478 | +176.8% |
| Recurring financial charges | 65 | €3,664 | €10,142 | +€6,478 | +176.8% |
| Profit (loss) for the period before taxes | 9903 | €20,401 | €94,800 | +€74,399 | +364.7% |
| Income taxes | 67/77 | €4,209 | €20,025 | +€15,816 | +375.8% |
| Profit (loss) for the period | 9904 | €16,192 | €74,775 | +€58,584 | +361.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,192 | €74,775 | +€58,584 | +361.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.