BS Line: 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.
BS Line
Largest movements
- Tangible fixed assets +€120,659
up €120,659 (+151.0%), from €79,889 to €200,549
- Receivables within one year +€118,206
up €118,206 (+31822.8%), from €371 to €118,577
of which Trade receivables: +€81,417
- Cash +€70,903
up €70,903 (+43.6%), from €162,684 to €233,587
mainly Net result for the year (+€172,558) and Other debts (+€100,000)
- Stocks and contracts +€27,106
up €27,106 (+18.8%), from €144,375 to €171,481
- Reserves +€200,000
up €200,000 (+53.0%), from €377,166 to €577,166
of which Distributable reserves: +€200,000
- Profit (loss) carried forward -€127,442
down €127,442 (-31.7%), from €401,874 to €274,431
- Other debts +€100,000
up €100,000, from €0 to €100,000
- Debts after one year +€95,913
up €95,913 (+195.4%), from €49,089 to €145,002
- Current portion of long-term debt +€56,193
up €56,193 (+139.4%), from €40,318 to €96,511
- Financial income -€104,978
down €104,978 (-51.1%), from €205,351 to €100,373
- Depreciation +€18,288
up €18,288 (+131.4%), from €13,921 to €32,209
- Other operating charges +€5,638
up €5,638 (+725.9%), from €777 to €6,414
- Gross operating margin +€3,431
up €3,431 (+2.4%), from €140,536 to €143,967
- Financial charges +€2,467
up €2,467 (+98.6%), from €2,503 to €4,969
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 | €890,951 | €1,229,897 | +€338,946 | +38.0% |
| Fixed assets | 21/28 | €581,964 | €702,623 | +€120,659 | +20.7% |
| Tangible fixed assets | 22/27 | €79,889 | €200,549 | +€120,659 | +151.0% |
| Furniture and vehicles | 24 | €79,889 | €200,549 | +€120,659 | +151.0% |
| Financial fixed assets | 28 | €502,074 | €502,074 | = | 0.0% |
| Current assets | 29/58 | €308,987 | €527,274 | +€218,287 | +70.6% |
| Stocks and contracts in progress | 3 | €144,375 | €171,481 | +€27,106 | +18.8% |
| Stocks | 30/36 | €144,375 | €171,481 | +€27,106 | +18.8% |
| Amounts receivable within one year | 40/41 | €371 | €118,577 | +€118,206 | +31822.8% |
| Trade receivables | 40 | €371 | €81,788 | +€81,417 | +21918.7% |
| Other amounts receivable | 41 | €0 | €36,789 | +€36,789 | |
| Cash at bank and in hand | 54/58 | €162,684 | €233,587 | +€70,903 | +43.6% |
| Deferred charges and accrued income | 490/1 | €1,557 | €3,629 | +€2,072 | +133.1% |
| Total equity and liabilities | 10/49 | €890,951 | €1,229,897 | +€338,946 | +38.0% |
| Equity | 10/15 | €779,040 | €851,597 | +€72,558 | +9.3% |
| Reserves | 13 | €377,166 | €577,166 | +€200,000 | +53.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €357,166 | €557,166 | +€200,000 | +56.0% |
| Profit (loss) carried forward | 14 | €401,874 | €274,431 | -€127,442 | -31.7% |
| Amounts payable | 17/49 | €111,911 | €378,300 | +€266,389 | +238.0% |
| Amounts payable after more than one year | 17 | €49,089 | €145,002 | +€95,913 | +195.4% |
| Financial debts | 170/4 | €49,089 | €145,002 | +€95,913 | +195.4% |
| Amounts payable within one year | 42/48 | €62,695 | €228,332 | +€165,637 | +264.2% |
| Current portion of amounts payable after more than one year | 42 | €40,318 | €96,511 | +€56,193 | +139.4% |
| Trade debts | 44 | €988 | €487 | -€501 | -50.7% |
| Suppliers | 440/4 | €988 | €487 | -€501 | -50.7% |
| Taxes, remuneration and social security | 45 | €21,388 | €31,334 | +€9,945 | +46.5% |
| Taxes | 450/3 | €18,676 | €31,334 | +€12,657 | +67.8% |
| Remuneration and social security | 454/9 | €2,712 | - | -€2,712 | |
| Other amounts payable | 47/48 | €0 | €100,000 | +€100,000 | |
| Accrued charges and deferred income | 492/3 | €126 | €4,966 | +€4,840 | +3836.4% |
| Remuneration, social security and pensions | 62 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,921 | €32,209 | +€18,288 | +131.4% |
| Other operating charges | 640/8 | €777 | €6,414 | +€5,638 | +725.9% |
| Gross operating margin | 9900 | €140,536 | €143,967 | +€3,431 | +2.4% |
| Operating profit (loss) | 9901 | €125,838 | €105,344 | -€20,494 | -16.3% |
| Financial income | 75/76B | €205,351 | €100,373 | -€104,978 | -51.1% |
| Recurring financial income | 75 | €205,351 | €100,373 | -€104,978 | -51.1% |
| Financial charges | 65/66B | €2,503 | €4,969 | +€2,467 | +98.6% |
| Recurring financial charges | 65 | €2,503 | €4,969 | +€2,467 | +98.6% |
| Profit (loss) for the period before taxes | 9903 | €328,686 | €200,747 | -€127,938 | -38.9% |
| Income taxes | 67/77 | €26,812 | €28,190 | +€1,378 | +5.1% |
| Profit (loss) for the period | 9904 | €301,874 | €172,558 | -€129,316 | -42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €301,874 | €172,558 | -€129,316 | -42.8% |
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 9 October 2026 via checked.be.