C2: 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.
C2
Largest movements
- Cash +€103,774
up €103,774 (+319.1%), from €32,521 to €136,295
mainly Net result for the year (+€64,890) and Receivables within one year (+€18,782)
- Receivables within one year -€18,782
down €18,782 (-26.8%), from €70,185 to €51,403
of which Trade receivables: -€11,583
- Deferred charges and accrued income +€9,412
up €9,412 (+2987.0%), from €315 to €9,727
- Reserves +€60,652
up €60,652 (+218.6%), from €27,749 to €88,400
- Tax, wage and social debts +€16,995
up €16,995 (+49.7%), from €34,204 to €51,199
of which Taxes: +€12,932
- Trade debts +€9,727
up €9,727 (+84.7%), from €11,479 to €21,206
- Accrued charges and deferred income +€7,746
up €7,746 (+285.4%), from €2,714 to €10,460
- Other debts +€5,758
up €5,758 (+22.6%), from €25,479 to €31,238
- Gross operating margin +€155,105
up €155,105 (+49.9%), from €310,549 to €465,654
- Staff costs +€86,502
up €86,502 (+31.9%), from €271,051 to €357,553
- Taxes +€20,491
up €20,491 (+418.1%), from €4,901 to €25,392
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 | €134,438 | €227,982 | +€93,544 | +69.6% |
| Fixed assets | 21/28 | €31,416 | €30,557 | -€859 | -2.7% |
| Intangible fixed assets | 21 | €1,755 | €1,567 | -€188 | -10.7% |
| Tangible fixed assets | 22/27 | €28,936 | €28,265 | -€671 | -2.3% |
| Furniture and vehicles | 24 | €28,936 | €28,265 | -€671 | -2.3% |
| Financial fixed assets | 28 | €725 | €725 | = | 0.0% |
| Current assets | 29/58 | €103,022 | €197,425 | +€94,403 | +91.6% |
| Amounts receivable within one year | 40/41 | €70,185 | €51,403 | -€18,782 | -26.8% |
| Trade receivables | 40 | €61,927 | €50,344 | -€11,583 | -18.7% |
| Other amounts receivable | 41 | €8,259 | €1,059 | -€7,199 | -87.2% |
| Cash at bank and in hand | 54/58 | €32,521 | €136,295 | +€103,774 | +319.1% |
| Deferred charges and accrued income | 490/1 | €315 | €9,727 | +€9,412 | +2987.0% |
| Total equity and liabilities | 10/49 | €134,438 | €227,982 | +€93,544 | +69.6% |
| Equity | 10/15 | €46,349 | €107,000 | +€60,652 | +130.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,749 | €88,400 | +€60,652 | +218.6% |
| Distributable reserves | 133 | €27,749 | €88,400 | +€60,652 | +218.6% |
| Amounts payable | 17/49 | €88,089 | €120,981 | +€32,892 | +37.3% |
| Amounts payable within one year | 42/48 | €85,375 | €110,521 | +€25,146 | +29.5% |
| Current portion of amounts payable after more than one year | 42 | €5,547 | - | -€5,547 | |
| Trade debts | 44 | €11,479 | €21,206 | +€9,727 | +84.7% |
| Suppliers | 440/4 | €11,479 | €21,206 | +€9,727 | +84.7% |
| Advances received on contracts in progress | 46 | €8,666 | €6,879 | -€1,787 | -20.6% |
| Taxes, remuneration and social security | 45 | €34,204 | €51,199 | +€16,995 | +49.7% |
| Taxes | 450/3 | €3,149 | €16,081 | +€12,932 | +410.7% |
| Remuneration and social security | 454/9 | €31,055 | €35,117 | +€4,063 | +13.1% |
| Other amounts payable | 47/48 | €25,479 | €31,238 | +€5,758 | +22.6% |
| Accrued charges and deferred income | 492/3 | €2,714 | €10,460 | +€7,746 | +285.4% |
| Remuneration, social security and pensions | 62 | €271,051 | €357,553 | +€86,502 | +31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,185 | €14,355 | +€2,170 | +17.8% |
| Other operating charges | 640/8 | €1,511 | €1,585 | +€74 | +4.9% |
| Gross operating margin | 9900 | €310,549 | €465,654 | +€155,105 | +49.9% |
| Operating profit (loss) | 9901 | €25,802 | €92,161 | +€66,359 | +257.2% |
| Financial income | 75/76B | €55 | €162 | +€107 | +193.3% |
| Recurring financial income | 75 | €55 | €162 | +€107 | +193.3% |
| Financial charges | 65/66B | €2,217 | €2,041 | -€175 | -7.9% |
| Recurring financial charges | 65 | €2,217 | €2,041 | -€175 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €23,640 | €90,282 | +€66,641 | +281.9% |
| Income taxes | 67/77 | €4,901 | €25,392 | +€20,491 | +418.1% |
| Profit (loss) for the period | 9904 | €18,740 | €64,890 | +€46,150 | +246.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,740 | €64,890 | +€46,150 | +246.3% |
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 10 October 2026 via checked.be.