C. BALTUS: 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.
C. BALTUS
Largest movements
- Cash +€8,996
up €8,996 (+172.0%), from €5,232 to €14,228
mainly Net result for the year (+€12,297) and Tax, wage and social debts (+€2,122)
- Receivables within one year +€3,920
up €3,920 (+144.6%), from €2,712 to €6,632
of which Trade receivables: +€3,913
- Deferred charges and accrued income +€971
up €971 (+218.4%), from €445 to €1,416
- Tangible fixed assets -€946
down €946 (-77.6%), from €1,219 to €273
- Profit (loss) carried forward +€11,464
up €11,464, from -€7,858 to €3,605
- Other debts -€2,566
down €2,566 (-69.2%), from €3,706 to €1,140
- Tax, wage and social debts +€2,122
up €2,122 (+83.2%), from €2,551 to €4,672
- Trade debts +€1,652
up €1,652 (+75.0%), from €2,204 to €3,856
- Accrued charges and deferred income +€270
new in 2025: €270
- Gross operating margin +€20,312
up €20,312, from -€3,129 to €17,183
- Taxes +€2,461
up €2,461 (+1922.4%), from €128 to €2,589
- Depreciation -€402
down €402 (-48.9%), from €822 to €421
- Other operating charges +€385
up €385 (+591.9%), from €65 to €450
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 | €9,607 | €22,549 | +€12,941 | +134.7% |
| Fixed assets | 21/28 | €1,219 | €273 | -€946 | -77.6% |
| Tangible fixed assets | 22/27 | €1,219 | €273 | -€946 | -77.6% |
| Furniture and vehicles | 24 | €1,219 | €273 | -€946 | -77.6% |
| Current assets | 29/58 | €8,388 | €22,276 | +€13,887 | +165.6% |
| Amounts receivable within one year | 40/41 | €2,712 | €6,632 | +€3,920 | +144.6% |
| Trade receivables | 40 | €2,712 | €6,625 | +€3,913 | +144.3% |
| Other amounts receivable | 41 | - | €7 | +€7 | |
| Cash at bank and in hand | 54/58 | €5,232 | €14,228 | +€8,996 | +172.0% |
| Deferred charges and accrued income | 490/1 | €445 | €1,416 | +€971 | +218.4% |
| Total equity and liabilities | 10/49 | €9,607 | €22,549 | +€12,941 | +134.7% |
| Equity | 10/15 | €1,147 | €12,610 | +€11,464 | +999.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €6,005 | €6,005 | = | 0.0% |
| Distributable reserves | 133 | €6,005 | €6,005 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,858 | €3,605 | +€11,464 | |
| Amounts payable | 17/49 | €8,461 | €9,938 | +€1,478 | +17.5% |
| Amounts payable within one year | 42/48 | €8,461 | €9,668 | +€1,208 | +14.3% |
| Trade debts | 44 | €2,204 | €3,856 | +€1,652 | +75.0% |
| Suppliers | 440/4 | €2,204 | €3,856 | +€1,652 | +75.0% |
| Taxes, remuneration and social security | 45 | €2,551 | €4,672 | +€2,122 | +83.2% |
| Taxes | 450/3 | €2,551 | €4,672 | +€2,122 | +83.2% |
| Other amounts payable | 47/48 | €3,706 | €1,140 | -€2,566 | -69.2% |
| Accrued charges and deferred income | 492/3 | - | €270 | +€270 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €822 | €421 | -€402 | -48.9% |
| Other operating charges | 640/8 | €65 | €450 | +€385 | +591.9% |
| Non-recurring operating charges | 66A | - | €525 | +€525 | |
| Gross operating margin | 9900 | -€3,129 | €17,183 | +€20,312 | |
| Operating profit (loss) | 9901 | -€4,016 | €15,788 | +€19,804 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €925 | €902 | -€22 | -2.4% |
| Recurring financial charges | 65 | €925 | €902 | -€22 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,941 | €14,885 | +€19,826 | |
| Income taxes | 67/77 | €128 | €2,589 | +€2,461 | +1922.4% |
| Profit (loss) for the period | 9904 | -€5,069 | €12,297 | +€17,365 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,069 | €12,297 | +€17,365 |
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 5 October 2026 via checked.be.