C-Forward: 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-Forward
Largest movements
- Cash +€82,370
up €82,370 (+212.4%), from €38,779 to €121,149
mainly Net result for the year (+€88,928) and Other debts (+€53,850)
- Deferred charges and accrued income -€15,889
down €15,889 (-100.0%), from €15,889 to €0
- Receivables within one year +€12,245
up €12,245 (+60.3%), from €20,292 to €32,536
of which Trade receivables: +€7,887
- Tangible fixed assets +€11,340
up €11,340 (+276.4%), from €4,103 to €15,443
of which Land and buildings: +€6,884
- Other debts +€53,850
up €53,850 (+603.5%), from €8,922 to €62,772
- Reserves +€24,928
up €24,928 (+38.9%), from €64,000 to €88,928
- Tax, wage and social debts +€9,600
up €9,600, from €0 to €9,600
- Gross operating margin +€133,020
up €133,020, from -€12,632 to €120,389
- Taxes +€24,593
up €24,593 (+14664.7%), from €168 to €24,760
- Depreciation +€1,285
up €1,285 (+70.8%), from €1,816 to €3,101
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 | €79,396 | €169,284 | +€89,888 | +113.2% |
| Formation expenses | 20 | €333 | €156 | -€177 | -53.2% |
| Fixed assets | 21/28 | €4,103 | €15,443 | +€11,340 | +276.4% |
| Tangible fixed assets | 22/27 | €4,103 | €15,443 | +€11,340 | +276.4% |
| Land and buildings | 22 | - | €6,884 | +€6,884 | |
| Plant, machinery and equipment | 23 | €254 | €1 | -€253 | -99.7% |
| Furniture and vehicles | 24 | €3,849 | €2,806 | -€1,043 | -27.1% |
| Other tangible fixed assets | 26 | - | €5,752 | +€5,752 | |
| Current assets | 29/58 | €74,960 | €153,685 | +€78,725 | +105.0% |
| Amounts receivable within one year | 40/41 | €20,292 | €32,536 | +€12,245 | +60.3% |
| Trade receivables | 40 | €18,780 | €26,667 | +€7,887 | +42.0% |
| Other amounts receivable | 41 | €1,512 | €5,869 | +€4,358 | +288.3% |
| Cash at bank and in hand | 54/58 | €38,779 | €121,149 | +€82,370 | +212.4% |
| Deferred charges and accrued income | 490/1 | €15,889 | €0 | -€15,889 | -100.0% |
| Total equity and liabilities | 10/49 | €79,396 | €169,284 | +€89,888 | +113.2% |
| Equity | 10/15 | €69,691 | €94,618 | +€24,928 | +35.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €64,000 | €88,928 | +€24,928 | +38.9% |
| Distributable reserves | 133 | €64,000 | €88,928 | +€24,928 | +38.9% |
| Profit (loss) carried forward | 14 | €691 | €691 | = | 0.0% |
| Amounts payable | 17/49 | €9,705 | €74,666 | +€64,961 | +669.4% |
| Amounts payable within one year | 42/48 | €9,705 | €74,666 | +€64,961 | +669.4% |
| Trade debts | 44 | €783 | €2,293 | +€1,511 | +193.0% |
| Suppliers | 440/4 | €783 | €2,293 | +€1,511 | +193.0% |
| Taxes, remuneration and social security | 45 | €0 | €9,600 | +€9,600 | |
| Taxes | 450/3 | €0 | €9,600 | +€9,600 | |
| Other amounts payable | 47/48 | €8,922 | €62,772 | +€53,850 | +603.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,816 | €3,101 | +€1,285 | +70.8% |
| Other operating charges | 640/8 | €1,381 | €898 | -€483 | -35.0% |
| Gross operating margin | 9900 | -€12,632 | €120,389 | +€133,020 | |
| Operating profit (loss) | 9901 | -€15,829 | €116,390 | +€132,219 | |
| Financial income | 75/76B | €1 | €139 | +€139 | +17333.8% |
| Recurring financial income | 75 | €1 | €139 | +€139 | +17333.8% |
| Financial charges | 65/66B | €2,443 | €2,841 | +€399 | +16.3% |
| Recurring financial charges | 65 | €2,443 | €2,841 | +€399 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | -€18,271 | €113,688 | +€131,959 | |
| Income taxes | 67/77 | €168 | €24,760 | +€24,593 | +14664.7% |
| Profit (loss) for the period | 9904 | -€18,438 | €88,928 | +€107,366 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,438 | €88,928 | +€107,366 |
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 1 October 2026 via checked.be.