by Elma: 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.
by Elma
Largest movements
- Receivables within one year +€22,236
up €22,236 (+134%), from €16,556 to €38,792
of which Trade receivables: +€15,438
- Cash +€4,945
up €4,945 (+89.5%), from €5,525 to €10,470
mainly Tax, wage and social debts (+€18,154) and Net result for the year (+€16,605)
- Tangible fixed assets -€4,027
down €4,027 (-29.5%), from €13,629 to €9,602
of which Furniture and vehicles: -€3,915
- Deferred charges and accrued income +€1,463
up €1,463 (+939%), from €156 to €1,618
- Tax, wage and social debts +€18,154
up €18,154 (+196%), from €9,267 to €27,422
of which Remuneration and social security: +€9,296
- Profit (loss) carried forward +€12,705
up €12,705, from -€12,658 to €47
- Other debts -€3,410
down €3,410 (-16.4%), from €20,848 to €17,438
- Current portion of long-term debt -€2,819
down €2,819 (-100%), from €2,819 to €0
- Trade debts -€2,272
down €2,272 (-30.5%), from €7,455 to €5,183
- Gross operating margin +€83,790
up €83,790 (+308%), from €27,231 to €111,021
- Staff costs +€51,422
up €51,422 (+179%), from €28,750 to €80,172
- Taxes +€6,261
up €6,261 (+674%), from €929 to €7,190
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 | €38,309 | €62,299 | +€23,991 | +62.6% |
| Formation expenses | 20 | €191 | €125 | -€66 | -34.6% |
| Fixed assets | 21/28 | €15,881 | €11,294 | -€4,587 | -28.9% |
| Intangible fixed assets | 21 | €2,047 | €1,487 | -€560 | -27.4% |
| Tangible fixed assets | 22/27 | €13,629 | €9,602 | -€4,027 | -29.5% |
| Plant, machinery and equipment | 23 | €336 | €224 | -€112 | -33.3% |
| Furniture and vehicles | 24 | €13,293 | €9,378 | -€3,915 | -29.5% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €22,237 | €50,881 | +€28,644 | +129% |
| Amounts receivable within one year | 40/41 | €16,556 | €38,792 | +€22,236 | +134% |
| Trade receivables | 40 | €16,550 | €31,988 | +€15,438 | +93.3% |
| Other amounts receivable | 41 | €6 | €6,805 | +€6,799 | +114,648% |
| Cash at bank and in hand | 54/58 | €5,525 | €10,470 | +€4,945 | +89.5% |
| Deferred charges and accrued income | 490/1 | €156 | €1,618 | +€1,463 | +939% |
| Total equity and liabilities | 10/49 | €38,309 | €62,299 | +€23,991 | +62.6% |
| Equity | 10/15 | -€2,658 | €10,047 | +€12,705 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,658 | €47 | +€12,705 | |
| Amounts payable | 17/49 | €40,967 | €52,253 | +€11,286 | +27.5% |
| Amounts payable within one year | 42/48 | €40,967 | €52,253 | +€11,286 | +27.5% |
| Current portion of amounts payable after more than one year | 42 | €2,819 | €0 | -€2,819 | -100% |
| Financial debts | 43 | €577 | €2,209 | +€1,632 | +283% |
| Credit institutions | 430/8 | €577 | €861 | +€284 | +49.2% |
| Other loans | 439 | - | €1,348 | +€1,348 | |
| Trade debts | 44 | €7,455 | €5,183 | -€2,272 | -30.5% |
| Suppliers | 440/4 | €7,455 | €5,183 | -€2,272 | -30.5% |
| Taxes, remuneration and social security | 45 | €9,267 | €27,422 | +€18,154 | +196% |
| Taxes | 450/3 | €6,836 | €15,694 | +€8,858 | +130% |
| Remuneration and social security | 454/9 | €2,431 | €11,727 | +€9,296 | +382% |
| Other amounts payable | 47/48 | €20,848 | €17,438 | -€3,410 | -16.4% |
| Remuneration, social security and pensions | 62 | €28,750 | €80,172 | +€51,422 | +179% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,412 | €5,687 | -€725 | -11.3% |
| Other operating charges | 640/8 | €422 | €868 | +€446 | +106% |
| Gross operating margin | 9900 | €27,231 | €111,021 | +€83,790 | +308% |
| Operating profit (loss) | 9901 | -€8,354 | €24,294 | +€32,648 | |
| Financial income | 75/76B | €27 | €27 | +€0 | +0.7% |
| Recurring financial income | 75 | €27 | €27 | +€0 | +0.7% |
| Financial charges | 65/66B | €568 | €526 | -€41 | -7.2% |
| Recurring financial charges | 65 | €568 | €526 | -€41 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,894 | €23,795 | +€32,689 | |
| Income taxes | 67/77 | €929 | €7,190 | +€6,261 | +674% |
| Profit (loss) for the period | 9904 | -€9,823 | €16,605 | +€26,428 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,823 | €16,605 | +€26,428 |
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 24 October 2026 via checked.be.