Calculus: 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.
Calculus
Largest movements
- Current investments +€306,618
up €306,618 (+653.1%), from €46,949 to €353,567
- Receivables within one year -€177,448
down €177,448 (-99.0%), from €179,172 to €1,724
of which Other amounts receivable: -€176,348
- Other debts +€122,672
new in 2025: €122,672
- Gross operating margin -€3,744
down €3,744 (-96.8%), from -€3,867 to -€7,611
- Financial income +€3,019
up €3,019 (+18.9%), from €15,969 to €18,988
- Taxes +€1,423
up €1,423 (+266.9%), from €533 to €1,956
- Financial charges -€1,378
down €1,378 (-31.3%), from €4,407 to €3,028
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 | €272,117 | €400,122 | +€128,005 | +47.0% |
| Fixed assets | 21/28 | €5,414 | €2,677 | -€2,737 | -50.6% |
| Tangible fixed assets | 22/27 | €5,144 | €2,407 | -€2,737 | -53.2% |
| Furniture and vehicles | 24 | €5,144 | €2,407 | -€2,737 | -53.2% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €266,703 | €397,445 | +€130,742 | +49.0% |
| Stocks and contracts in progress | 3 | €27,912 | €27,912 | = | 0.0% |
| Stocks | 30/36 | €27,912 | €27,912 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €179,172 | €1,724 | -€177,448 | -99.0% |
| Trade receivables | 40 | €1,100 | - | -€1,100 | |
| Other amounts receivable | 41 | €178,072 | €1,724 | -€176,348 | -99.0% |
| Current investments | 50/53 | €46,949 | €353,567 | +€306,618 | +653.1% |
| Cash at bank and in hand | 54/58 | €12,121 | €13,688 | +€1,567 | +12.9% |
| Deferred charges and accrued income | 490/1 | €549 | €554 | +€5 | +1.0% |
| Total equity and liabilities | 10/49 | €272,117 | €400,122 | +€128,005 | +47.0% |
| Equity | 10/15 | €271,673 | €273,846 | +€2,173 | +0.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | €25,000 | = | 0.0% |
| Issued capital | 100 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €246,673 | €248,846 | +€2,173 | +0.9% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Legal reserve | 130 | €2,500 | €2,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,610 | €12,610 | = | 0.0% |
| Distributable reserves | 133 | €231,562 | €233,735 | +€2,173 | +0.9% |
| Amounts payable | 17/49 | €444 | €126,276 | +€125,832 | +28318.8% |
| Amounts payable within one year | 42/48 | €444 | €126,276 | +€125,832 | +28318.8% |
| Trade debts | 44 | €411 | €2,313 | +€1,902 | +462.9% |
| Suppliers | 440/4 | €411 | €2,313 | +€1,902 | +462.9% |
| Taxes, remuneration and social security | 45 | €34 | €1,292 | +€1,258 | +3750.3% |
| Taxes | 450/3 | €34 | €1,292 | +€1,258 | +3750.3% |
| Other amounts payable | 47/48 | - | €122,672 | +€122,672 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,737 | €2,737 | = | 0.0% |
| Other operating charges | 640/8 | €1,431 | €1,483 | +€52 | +3.6% |
| Gross operating margin | 9900 | -€3,867 | -€7,611 | -€3,744 | -96.8% |
| Operating profit (loss) | 9901 | -€8,035 | -€11,831 | -€3,796 | -47.2% |
| Financial income | 75/76B | €15,969 | €18,988 | +€3,019 | +18.9% |
| Recurring financial income | 75 | €15,969 | €18,988 | +€3,019 | +18.9% |
| Financial charges | 65/66B | €4,407 | €3,028 | -€1,378 | -31.3% |
| Recurring financial charges | 65 | €4,407 | €3,028 | -€1,378 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €3,527 | €4,129 | +€601 | +17.0% |
| Income taxes | 67/77 | €533 | €1,956 | +€1,423 | +266.9% |
| Profit (loss) for the period | 9904 | €2,994 | €2,173 | -€821 | -27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,994 | €2,173 | -€821 | -27.4% |
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 29 September 2026 via checked.be.