BUBBLE: 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.
BUBBLE
Largest movements
- Receivables within one year +€7,496
up €7,496 (+361.1%), from €2,076 to €9,571
of which Trade receivables: +€6,683
- Tangible fixed assets -€2,034
down €2,034 (-24.8%), from €8,188 to €6,154
of which Plant, machinery and equipment: -€1,648
- Cash +€1,782
up €1,782 (+5.6%), from €31,881 to €33,663
mainly Net result for the year (+€5,682) and Depreciation (+€4,525)
- Deferred charges and accrued income +€898
new in 2025: €898
- Profit (loss) carried forward +€5,682
up €5,682 (+7.8%), from -€73,041 to -€67,359
- Advances received +€3,600
new in 2025: €3,600
- Other debts -€2,514
down €2,514 (-22.2%), from €11,340 to €8,826
- Tax, wage and social debts +€2,000
up €2,000 (+40.0%), from €5,000 to €7,000
of which Taxes: +€1,500
- Trade debts -€626
down €626 (-27.6%), from €2,267 to €1,641
- Depreciation -€1,914
down €1,914 (-29.7%), from €6,438 to €4,525
- Gross operating margin +€792
up €792 (+7.9%), from €9,975 to €10,768
- Financial charges +€175
up €175 (+260.8%), from €67 to €242
of which Non-recurring financial charges: +€135
- Taxes -€132
no longer reported in 2025 (was €132)
- Other operating charges +€128
up €128 (+55.4%), from €231 to €359
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 | €42,145 | €50,287 | +€8,142 | +19.3% |
| Fixed assets | 21/28 | €8,188 | €6,154 | -€2,034 | -24.8% |
| Tangible fixed assets | 22/27 | €8,188 | €6,154 | -€2,034 | -24.8% |
| Plant, machinery and equipment | 23 | €7,133 | €5,485 | -€1,648 | -23.1% |
| Furniture and vehicles | 24 | €1,055 | €669 | -€386 | -36.6% |
| Current assets | 29/58 | €33,956 | €44,132 | +€10,176 | +30.0% |
| Amounts receivable within one year | 40/41 | €2,076 | €9,571 | +€7,496 | +361.1% |
| Trade receivables | 40 | €1,455 | €8,138 | +€6,683 | +459.3% |
| Other amounts receivable | 41 | €621 | €1,434 | +€813 | +131.0% |
| Cash at bank and in hand | 54/58 | €31,881 | €33,663 | +€1,782 | +5.6% |
| Deferred charges and accrued income | 490/1 | - | €898 | +€898 | |
| Total equity and liabilities | 10/49 | €42,145 | €50,287 | +€8,142 | +19.3% |
| Equity | 10/15 | €23,537 | €29,219 | +€5,682 | +24.1% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €74,579 | €74,579 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,028 | €29,028 | = | 0.0% |
| Distributable reserves | 133 | €45,551 | €45,551 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,041 | -€67,359 | +€5,682 | +7.8% |
| Amounts payable | 17/49 | €18,607 | €21,067 | +€2,460 | +13.2% |
| Amounts payable within one year | 42/48 | €18,607 | €21,067 | +€2,460 | +13.2% |
| Trade debts | 44 | €2,267 | €1,641 | -€626 | -27.6% |
| Suppliers | 440/4 | €2,267 | €1,641 | -€626 | -27.6% |
| Advances received on contracts in progress | 46 | - | €3,600 | +€3,600 | |
| Taxes, remuneration and social security | 45 | €5,000 | €7,000 | +€2,000 | +40.0% |
| Taxes | 450/3 | - | €1,500 | +€1,500 | |
| Remuneration and social security | 454/9 | €5,000 | €5,500 | +€500 | +10.0% |
| Other amounts payable | 47/48 | €11,340 | €8,826 | -€2,514 | -22.2% |
| Non-recurring operating income | 76A | - | €860 | +€860 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,438 | €4,525 | -€1,914 | -29.7% |
| Other operating charges | 640/8 | €231 | €359 | +€128 | +55.4% |
| Non-recurring operating charges | 66A | €63 | - | -€63 | |
| Gross operating margin | 9900 | €9,975 | €10,768 | +€792 | +7.9% |
| Operating profit (loss) | 9901 | €3,243 | €5,884 | +€2,641 | +81.4% |
| Financial income | 75/76B | €22 | €40 | +€18 | +83.1% |
| Recurring financial income | 75 | €22 | €40 | +€18 | +83.1% |
| Financial charges | 65/66B | €67 | €242 | +€175 | +260.8% |
| Recurring financial charges | 65 | €67 | €107 | +€40 | +59.4% |
| Non-recurring financial charges | 66B | - | €135 | +€135 | |
| Profit (loss) for the period before taxes | 9903 | €3,198 | €5,682 | +€2,484 | +77.7% |
| Income taxes | 67/77 | €132 | - | -€132 | |
| Profit (loss) for the period | 9904 | €3,066 | €5,682 | +€2,616 | +85.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,066 | €5,682 | +€2,616 | +85.3% |
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 8 October 2026 via checked.be.