Caption this: 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.
Caption this
Largest movements
- Current investments +€37,579
new in 2025: €37,579
- Cash -€21,976
down €21,976 (-83.1%), from €26,431 to €4,455
mainly Current investments (-€37,579) and Receivables within one year (-€19,321)
- Receivables within one year +€19,321
up €19,321 (+84.3%), from €22,907 to €42,228
of which Trade receivables: +€17,630
- Deferred charges and accrued income +€1,567
up €1,567 (+47.6%), from €3,289 to €4,857
- Tangible fixed assets +€1,228
up €1,228 (+18.3%), from €6,726 to €7,955
of which Furniture and vehicles: +€1,741
- Reserves +€26,502
up €26,502 (+78.5%), from €33,757 to €60,259
- Trade debts +€11,306
up €11,306 (+194.2%), from €5,820 to €17,126
- Tax, wage and social debts -€3,069
down €3,069 (-17.3%), from €17,776 to €14,708
of which Taxes: -€3,069
- Other debts +€1,666
new in 2025: €1,666
- Short-term financial debts +€1,315
new in 2025: €1,315
- Gross operating margin +€27,515
up €27,515 (+117.5%), from €23,407 to €50,922
- Taxes +€12,038
up €12,038 (+380.5%), from €3,164 to €15,201
- Write-downs -€5,459
no longer reported in 2025 (was €5,459)
- Depreciation -€2,098
down €2,098 (-30.7%), from €6,840 to €4,741
- Other operating charges -€549
down €549 (-32.3%), from €1,700 to €1,151
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 | €59,354 | €97,073 | +€37,719 | +63.5% |
| Fixed assets | 21/28 | €6,726 | €7,955 | +€1,228 | +18.3% |
| Tangible fixed assets | 22/27 | €6,726 | €7,955 | +€1,228 | +18.3% |
| Plant, machinery and equipment | 23 | €5,467 | €4,954 | -€513 | -9.4% |
| Furniture and vehicles | 24 | €1,259 | €3,001 | +€1,741 | +138.3% |
| Current assets | 29/58 | €52,628 | €89,119 | +€36,491 | +69.3% |
| Amounts receivable within one year | 40/41 | €22,907 | €42,228 | +€19,321 | +84.3% |
| Trade receivables | 40 | €16,794 | €34,423 | +€17,630 | +105.0% |
| Other amounts receivable | 41 | €6,114 | €7,805 | +€1,691 | +27.7% |
| Current investments | 50/53 | - | €37,579 | +€37,579 | |
| Cash at bank and in hand | 54/58 | €26,431 | €4,455 | -€21,976 | -83.1% |
| Deferred charges and accrued income | 490/1 | €3,289 | €4,857 | +€1,567 | +47.6% |
| Total equity and liabilities | 10/49 | €59,354 | €97,073 | +€37,719 | +63.5% |
| Equity | 10/15 | €35,757 | €62,259 | +€26,502 | +74.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €33,757 | €60,259 | +€26,502 | +78.5% |
| Distributable reserves | 133 | €33,757 | €60,259 | +€26,502 | +78.5% |
| Amounts payable | 17/49 | €23,597 | €34,814 | +€11,218 | +47.5% |
| Amounts payable within one year | 42/48 | €23,597 | €34,814 | +€11,218 | +47.5% |
| Financial debts | 43 | - | €1,315 | +€1,315 | |
| Credit institutions | 430/8 | - | €1,315 | +€1,315 | |
| Trade debts | 44 | €5,820 | €17,126 | +€11,306 | +194.2% |
| Suppliers | 440/4 | €5,820 | €17,126 | +€11,306 | +194.2% |
| Taxes, remuneration and social security | 45 | €17,776 | €14,708 | -€3,069 | -17.3% |
| Taxes | 450/3 | €14,777 | €11,709 | -€3,069 | -20.8% |
| Remuneration and social security | 454/9 | €2,999 | €2,999 | = | 0.0% |
| Other amounts payable | 47/48 | - | €1,666 | +€1,666 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,840 | €4,741 | -€2,098 | -30.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,459 | - | -€5,459 | |
| Other operating charges | 640/8 | €1,700 | €1,151 | -€549 | -32.3% |
| Gross operating margin | 9900 | €23,407 | €50,922 | +€27,515 | +117.5% |
| Operating profit (loss) | 9901 | €9,409 | €45,029 | +€35,620 | +378.6% |
| Financial income | 75/76B | €415 | €614 | +€199 | +47.9% |
| Recurring financial income | 75 | €415 | €614 | +€199 | +47.9% |
| Financial charges | 65/66B | €2,488 | €2,274 | -€214 | -8.6% |
| Recurring financial charges | 65 | €2,488 | €2,274 | -€214 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €7,336 | €43,369 | +€36,033 | +491.2% |
| Income taxes | 67/77 | €3,164 | €15,201 | +€12,038 | +380.5% |
| Profit (loss) for the period | 9904 | €4,172 | €28,168 | +€23,995 | +575.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,172 | €28,168 | +€23,995 | +575.1% |
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 6 October 2026 via checked.be.