BY GEORGETTE: 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 GEORGETTE
Largest movements
- Cash +€41,876
up €41,876 (+340%), from €12,331 to €54,207
mainly Net result for the year (+€39,075) and Receivables within one year (+€18,849)
- Receivables within one year -€18,849
down €18,849 (-64.0%), from €29,437 to €10,588
- Stocks and contracts -€880
down €880 (-3.8%), from €23,338 to €22,458
- Profit (loss) carried forward +€39,075
up €39,075 (+80.6%), from -€48,481 to -€9,406
- Trade debts -€18,489
down €18,489 (-94.5%), from €19,560 to €1,071
- Tax, wage and social debts +€16,462
up €16,462 (+154%), from €10,662 to €27,125
of which Remuneration and social security: +€13,081
- Other debts -€15,598
down €15,598 (-51.0%), from €30,598 to €15,000
- Gross operating margin +€91,514
up €91,514, from -€51,174 to €40,340
- Depreciation -€823
down €823 (-77.8%), from €1,058 to €235
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 | €66,232 | €87,682 | +€21,450 | +32.4% |
| Fixed assets | 21/28 | €380 | €145 | -€235 | -61.8% |
| Tangible fixed assets | 22/27 | €300 | €65 | -€235 | -78.3% |
| Plant, machinery and equipment | 23 | €300 | €65 | -€235 | -78.3% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €65,852 | €87,537 | +€21,685 | +32.9% |
| Stocks and contracts in progress | 3 | €23,338 | €22,458 | -€880 | -3.8% |
| Stocks | 30/36 | €23,338 | €22,458 | -€880 | -3.8% |
| Amounts receivable within one year | 40/41 | €29,437 | €10,588 | -€18,849 | -64.0% |
| Trade receivables | 40 | €29,437 | €10,588 | -€18,849 | -64.0% |
| Cash at bank and in hand | 54/58 | €12,331 | €54,207 | +€41,876 | +340% |
| Deferred charges and accrued income | 490/1 | €746 | €285 | -€461 | -61.8% |
| Total equity and liabilities | 10/49 | €66,232 | €87,682 | +€21,450 | +32.4% |
| Equity | 10/15 | €5,412 | €44,487 | +€39,075 | +722% |
| Contributions | 10/11 | €32,657 | €32,657 | = | 0.0% |
| Contributions outside capital | 11 | €32,657 | €32,657 | = | 0.0% |
| Other | 1109/19 | €32,657 | €32,657 | = | 0.0% |
| Reserves | 13 | €21,236 | €21,236 | = | 0.0% |
| Distributable reserves | 133 | €21,236 | €21,236 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,481 | -€9,406 | +€39,075 | +80.6% |
| Amounts payable | 17/49 | €60,820 | €43,195 | -€17,625 | -29.0% |
| Amounts payable within one year | 42/48 | €60,820 | €43,195 | -€17,625 | -29.0% |
| Trade debts | 44 | €19,560 | €1,071 | -€18,489 | -94.5% |
| Suppliers | 440/4 | €19,560 | €1,071 | -€18,489 | -94.5% |
| Taxes, remuneration and social security | 45 | €10,662 | €27,125 | +€16,462 | +154% |
| Taxes | 450/3 | €4,763 | €8,145 | +€3,382 | +71.0% |
| Remuneration and social security | 454/9 | €5,899 | €18,979 | +€13,081 | +222% |
| Other amounts payable | 47/48 | €30,598 | €15,000 | -€15,598 | -51.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,058 | €235 | -€823 | -77.8% |
| Other operating charges | 640/8 | €387 | €751 | +€364 | +94.0% |
| Gross operating margin | 9900 | -€51,174 | €40,340 | +€91,514 | |
| Operating profit (loss) | 9901 | -€52,620 | €39,354 | +€91,973 | |
| Financial income | 75/76B | €0 | €21 | +€21 | +70,233% |
| Recurring financial income | 75 | €0 | €21 | +€21 | +70,233% |
| Financial charges | 65/66B | €294 | €300 | +€6 | +2.1% |
| Recurring financial charges | 65 | €294 | €300 | +€6 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | -€52,913 | €39,075 | +€91,988 | |
| Profit (loss) for the period | 9904 | -€52,913 | €39,075 | +€91,988 | |
| Profit (loss) for the period to be appropriated | 9905 | -€52,913 | €39,075 | +€91,988 |
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 16 October 2026 via checked.be.