CANVAS: 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.
What changed
CANVAS
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€189,513
2024 · €103,635+€85,879
Equity
€3.1m
2024 · €2.9m+€189,513
Cash
€99,705
2024 · €56,959+€42,746
Balance sheet total
€37.8m
2024 · €37.2m+€619,465
Largest movements
Assets
- Tangible fixed assets +€1.2m
up €1.2m (+39.9%), from €3.1m to €4.3m
- Stocks and contracts -€690,635
down €690,635 (-2.0%), from €34.0m to €33.3m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Turnover -€2.1m
down €2.1m (-16.6%), from €12.6m to €10.5m
- Goods and materials -€2.1m
down €2.1m (-17.0%), from €12.2m to €10.2m
of which Change in stocks: decrease (increase): -€3.8m
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.
Result 2024
€103,635
Turnover
-€2.1m
Other operating income
+€65,825
Goods and materials
+€2.1m
Services and other goods
+€117,834
Depreciation
-€47,871
Other operating charges
-€526
Financial income
+€122
Financial charges
-€6,350
Taxes
-€27,521
Result 2025
€189,513
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.
From operations
+€1.2m
Investment
-€1.3m
Financing
+€190,000
Cash 2024
€56,959
From operations (derived)
+€1.2m
Net result for the year
+€189,513
Depreciation
+€75,475
Stocks and contracts
+€690,635
Receivables within one year
-€36,829
Trade debts
-€8,080
Tax, wage and social debts
+€3,032
Other debts
+€245,000
Investment (derived)
-€1.3m
Investment in fixed assets (net)
-€1.3m
Financing
+€190,000
Short-term financial debts
+€190,000
Cash 2025
€99,705
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,176,388 | €37,795,853 | +€619,465 | +1.7% |
| Fixed assets | 21/28 | €3,085,396 | €4,315,922 | +€1.2m | +39.9% |
| Tangible fixed assets | 22/27 | €3,085,396 | €4,315,922 | +€1.2m | +39.9% |
| Land and buildings | 22 | €3,085,396 | €4,315,922 | +€1.2m | +39.9% |
| Current assets | 29/58 | €34,090,991 | €33,479,931 | -€611,060 | -1.8% |
| Stocks and contracts in progress | 3 | €34,034,033 | €33,343,397 | -€690,635 | -2.0% |
| Stocks | 30/36 | €34,034,033 | €33,343,397 | -€690,635 | -2.0% |
| Property held for sale | 35 | €34,034,033 | €33,343,397 | -€690,635 | -2.0% |
| Amounts receivable within one year | 40/41 | - | €36,829 | +€36,829 | |
| Other amounts receivable | 41 | - | €36,829 | +€36,829 | |
| Cash at bank and in hand | 54/58 | €56,959 | €99,705 | +€42,746 | +75.0% |
| Total equity and liabilities | 10/49 | €37,176,388 | €37,795,853 | +€619,465 | +1.7% |
| Equity | 10/15 | €2,862,640 | €3,052,154 | +€189,513 | +6.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,794,990 | €2,984,504 | +€189,513 | +6.8% |
| Amounts payable | 17/49 | €34,313,747 | €34,743,699 | +€429,952 | +1.3% |
| Amounts payable within one year | 42/48 | €34,313,747 | €34,743,699 | +€429,952 | +1.3% |
| Financial debts | 43 | €33,980,000 | €34,170,000 | +€190,000 | +0.6% |
| Credit institutions | 430/8 | €33,980,000 | €34,170,000 | +€190,000 | +0.6% |
| Trade debts | 44 | €8,097 | €17 | -€8,080 | -99.8% |
| Suppliers | 440/4 | €8,097 | €17 | -€8,080 | -99.8% |
| Taxes, remuneration and social security | 45 | €650 | €3,682 | +€3,032 | +466.6% |
| Taxes | 450/3 | €650 | €3,682 | +€3,032 | +466.6% |
| Other amounts payable | 47/48 | €325,000 | €570,000 | +€245,000 | +75.4% |
| Operating income | 70/76A | €12,627,502 | €10,602,835 | -€2.0m | -16.0% |
| Turnover | 70 | €12,592,682 | €10,502,190 | -€2.1m | -16.6% |
| Other operating income | 74 | €34,820 | €100,645 | +€65,825 | +189.0% |
| Operating charges | 60/66A | €12,488,067 | €10,343,773 | -€2.1m | -17.2% |
| Goods for resale, raw materials and consumables | 60 | €12,225,433 | €10,150,576 | -€2.1m | -17.0% |
| Purchases | 600/8 | €7,686,482 | €9,459,940 | +€1.8m | +23.1% |
| Change in stocks: decrease (increase) | 609 | €4,538,951 | €690,635 | -€3.8m | -84.8% |
| Services and other goods | 61 | €231,416 | €113,581 | -€117,834 | -50.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,604 | €75,475 | +€47,871 | +173.4% |
| Other operating charges | 640/8 | €3,616 | €4,141 | +€526 | +14.5% |
| Operating profit (loss) | 9901 | €139,435 | €259,062 | +€119,627 | +85.8% |
| Financial income | 75/76B | - | €122 | +€122 | |
| Recurring financial income | 75 | - | €122 | +€122 | |
| Income from current assets | 751 | - | €122 | +€122 | |
| Financial charges | 65/66B | €150 | €6,500 | +€6,350 | +4233.3% |
| Recurring financial charges | 65 | €150 | €6,500 | +€6,350 | +4233.3% |
| Other financial charges | 652/9 | €150 | €6,500 | +€6,350 | +4233.3% |
| Profit (loss) for the period before taxes | 9903 | €139,285 | €252,684 | +€113,400 | +81.4% |
| Income taxes | 67/77 | €35,650 | €63,171 | +€27,521 | +77.2% |
| Taxes | 670/3 | €35,650 | €63,171 | +€27,521 | +77.2% |
| Profit (loss) for the period | 9904 | €103,635 | €189,513 | +€85,879 | +82.9% |
| Profit (loss) for the period to be appropriated | 9905 | €103,635 | €189,513 | +€85,879 | +82.9% |
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 30 September 2026 via checked.be.