BUTTERFLY EFFECT: 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.
BUTTERFLY EFFECT
Largest movements
- Tangible fixed assets +€25,396
up €25,396 (+1,994%), from €1,274 to €26,670
- Receivables within one year +€11,644
up €11,644 (+2,918%), from €399 to €12,043
of which Trade receivables: +€10,402
- Other debts +€15,811
up €15,811 (+12.6%), from €125,583 to €141,393
- Profit (loss) carried forward +€9,391
up €9,391 (+10.1%), from €92,665 to €102,057
- Trade debts +€7,053
up €7,053 (+42.9%), from €16,435 to €23,487
- Current portion of long-term debt +€5,643
up €5,643 (+35.2%), from €16,011 to €21,654
- Debts after one year +€3,881
up €3,881 (+11.1%), from €34,940 to €38,821
- Gross operating margin +€15,158
up €15,158 (+207%), from €7,324 to €22,482
- Depreciation +€4,583
up €4,583 (+728%), from €630 to €5,213
- Other operating charges +€3,851
up €3,851 (+368%), from €1,047 to €4,898
- Financial charges +€881
up €881 (+49.7%), from €1,774 to €2,655
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 | €309,685 | €349,345 | +€39,660 | +12.8% |
| Fixed assets | 21/28 | €305,774 | €331,170 | +€25,396 | +8.3% |
| Tangible fixed assets | 22/27 | €1,274 | €26,670 | +€25,396 | +1,994% |
| Furniture and vehicles | 24 | €1,274 | €26,670 | +€25,396 | +1,994% |
| Financial fixed assets | 28 | €304,500 | €304,500 | = | 0.0% |
| Current assets | 29/58 | €3,911 | €18,175 | +€14,264 | +365% |
| Amounts receivable within one year | 40/41 | €399 | €12,043 | +€11,644 | +2,918% |
| Trade receivables | 40 | €399 | €10,801 | +€10,402 | +2,607% |
| Other amounts receivable | 41 | - | €1,241 | +€1,241 | |
| Cash at bank and in hand | 54/58 | €2,572 | €4,567 | +€1,995 | +77.6% |
| Deferred charges and accrued income | 490/1 | €940 | €1,566 | +€626 | +66.6% |
| Total equity and liabilities | 10/49 | €309,685 | €349,345 | +€39,660 | +12.8% |
| Equity | 10/15 | €113,125 | €122,517 | +€9,391 | +8.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €92,665 | €102,057 | +€9,391 | +10.1% |
| Amounts payable | 17/49 | €196,559 | €226,828 | +€30,269 | +15.4% |
| Amounts payable after more than one year | 17 | €34,940 | €38,821 | +€3,881 | +11.1% |
| Financial debts | 170/4 | €34,940 | €38,821 | +€3,881 | +11.1% |
| Amounts payable within one year | 42/48 | €161,619 | €188,007 | +€26,388 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €16,011 | €21,654 | +€5,643 | +35.2% |
| Financial debts | 43 | €46 | €47 | +€1 | +1.9% |
| Credit institutions | 430/8 | €46 | €47 | +€1 | +1.9% |
| Trade debts | 44 | €16,435 | €23,487 | +€7,053 | +42.9% |
| Suppliers | 440/4 | €16,435 | €23,487 | +€7,053 | +42.9% |
| Taxes, remuneration and social security | 45 | €3,544 | €1,425 | -€2,119 | -59.8% |
| Taxes | 450/3 | €3,544 | €1,425 | -€2,119 | -59.8% |
| Other amounts payable | 47/48 | €125,583 | €141,393 | +€15,811 | +12.6% |
| Non-recurring operating income | 76A | - | €637 | +€637 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €630 | €5,213 | +€4,583 | +728% |
| Other operating charges | 640/8 | €1,047 | €4,898 | +€3,851 | +368% |
| Gross operating margin | 9900 | €7,324 | €22,482 | +€15,158 | +207% |
| Operating profit (loss) | 9901 | €5,647 | €12,371 | +€6,724 | +119% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €1,774 | €2,655 | +€881 | +49.7% |
| Recurring financial charges | 65 | €1,774 | €2,655 | +€881 | +49.7% |
| Profit (loss) for the period before taxes | 9903 | €3,873 | €9,716 | +€5,843 | +151% |
| Income taxes | 67/77 | €174 | €325 | +€151 | +86.6% |
| Profit (loss) for the period | 9904 | €3,699 | €9,391 | +€5,692 | +154% |
| Profit (loss) for the period to be appropriated | 9905 | €3,699 | €9,391 | +€5,692 | +154% |
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 14 October 2026 via checked.be.