BULLET: 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.
BULLET
Largest movements
- Cash +€405,001
up €405,001 (+795%), from €50,927 to €455,928
mainly Net result for the year (+€499,560) and Tax, wage and social debts (+€27,337)
- Profit (loss) carried forward +€499,560
up €499,560 (+6,836%), from €7,308 to €506,868
- Debts after one year -€106,439
down €106,439 (-15.3%), from €697,158 to €590,718
- Tax, wage and social debts +€27,337
up €27,337 (+275%), from €9,946 to €37,283
of which Remuneration and social security: +€24,932
- Financial income +€500,057
new in 2025: €500,057
- Turnover -€102,000
no longer reported in 2025 (was €102,000)
- Purchases and services -€62,525
no longer reported in 2025 (was €62,525)
- Gross operating margin -€13,679
down €13,679 (-32.3%), from €42,362 to €28,683
- Financial charges -€5,772
down €5,772 (-17.0%), from €34,038 to €28,266
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.
Derived cash bridge
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 | €1,832,002 | €2,253,545 | +€421,544 | +23.0% |
| Fixed assets | 21/28 | €1,775,075 | €1,774,702 | -€373 | 0.0% |
| Tangible fixed assets | 22/27 | €632 | €259 | -€373 | -59.0% |
| Furniture and vehicles | 24 | €205 | €0 | -€205 | -100% |
| Other tangible fixed assets | 26 | €427 | €259 | -€168 | -39.3% |
| Financial fixed assets | 28 | €1,774,443 | €1,774,443 | = | 0.0% |
| Current assets | 29/58 | €56,927 | €478,843 | +€421,917 | +741% |
| Amounts receivable within one year | 40/41 | €6,000 | €10,295 | +€4,295 | +71.6% |
| Trade receivables | 40 | €0 | €10,285 | +€10,285 | |
| Other amounts receivable | 41 | €6,000 | €10 | -€5,990 | -99.8% |
| Cash at bank and in hand | 54/58 | €50,927 | €455,928 | +€405,001 | +795% |
| Deferred charges and accrued income | 490/1 | €0 | €12,620 | +€12,620 | |
| Total equity and liabilities | 10/49 | €1,832,002 | €2,253,545 | +€421,544 | +23.0% |
| Equity | 10/15 | €571,611 | €1,071,171 | +€499,560 | +87.4% |
| Contributions | 10/11 | €397,000 | €397,000 | = | 0.0% |
| Capital | 10 | €397,000 | €397,000 | = | 0.0% |
| Issued capital | 100 | €397,000 | €397,000 | = | 0.0% |
| Reserves | 13 | €167,303 | €167,303 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,800 | €12,800 | = | 0.0% |
| Legal reserve | 130 | €12,800 | €12,800 | = | 0.0% |
| Distributable reserves | 133 | €154,503 | €154,503 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,308 | €506,868 | +€499,560 | +6,836% |
| Amounts payable | 17/49 | €1,260,391 | €1,182,374 | -€78,016 | -6.2% |
| Amounts payable after more than one year | 17 | €697,158 | €590,718 | -€106,439 | -15.3% |
| Financial debts | 170/4 | €697,158 | €590,718 | -€106,439 | -15.3% |
| Amounts payable within one year | 42/48 | €563,233 | €591,656 | +€28,423 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €102,842 | €106,439 | +€3,597 | +3.5% |
| Trade debts | 44 | €2,517 | €756 | -€1,761 | -70.0% |
| Suppliers | 440/4 | €2,517 | €756 | -€1,761 | -70.0% |
| Taxes, remuneration and social security | 45 | €9,946 | €37,283 | +€27,337 | +275% |
| Taxes | 450/3 | €7,880 | €10,285 | +€2,405 | +30.5% |
| Remuneration and social security | 454/9 | €2,066 | €26,998 | +€24,932 | +1,207% |
| Other amounts payable | 47/48 | €447,927 | €447,177 | -€750 | -0.2% |
| Turnover | 70 | €102,000 | - | -€102,000 | |
| Non-recurring operating income | 76A | €1 | - | -€1 | |
| Goods, raw materials, services and sundry goods | 60/61 | €62,525 | - | -€62,525 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,138 | €373 | -€765 | -67.2% |
| Other operating charges | 640/8 | - | €108 | +€108 | |
| Non-recurring operating charges | 66A | €106 | €0 | -€106 | -100% |
| Gross operating margin | 9900 | €42,362 | €28,683 | -€13,679 | -32.3% |
| Operating profit (loss) | 9901 | €41,118 | €28,202 | -€12,916 | -31.4% |
| Financial income | 75/76B | - | €500,057 | +€500,057 | |
| Recurring financial income | 75 | - | €500,057 | +€500,057 | |
| Financial charges | 65/66B | €34,038 | €28,266 | -€5,772 | -17.0% |
| Recurring financial charges | 65 | €34,038 | €28,266 | -€5,772 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €7,080 | €499,992 | +€492,912 | +6,962% |
| Income taxes | 67/77 | €2,800 | €432 | -€2,368 | -84.6% |
| Profit (loss) for the period | 9904 | €4,280 | €499,560 | +€495,281 | +11,573% |
| Profit (loss) for the period to be appropriated | 9905 | €4,280 | €499,560 | +€495,281 | +11,573% |
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 1 November 2026 via checked.be.