CHAINGED: 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.
CHAINGED
Largest movements
- Receivables within one year +€28,507
up €28,507 (+10.1%), from €281,881 to €310,388
of which Trade receivables: +€48,314
- Cash +€6,024
new in 2025: €6,024
mainly Net result for the year (+€37,785) and Tax, wage and social debts (+€11,510)
- Profit (loss) carried forward +€27,785
up €27,785 (+12.6%), from €220,773 to €248,558
- Trade debts -€17,333
down €17,333 (-31.0%), from €55,909 to €38,576
- Tax, wage and social debts +€11,510
up €11,510 (+57.5%), from €20,000 to €31,510
of which Remuneration and social security: +€11,000
- Other debts +€8,007
up €8,007 (+15.4%), from €51,860 to €59,868
- Gross operating margin +€51,856
up €51,856 (+157.3%), from €32,965 to €84,822
- Taxes +€16,823
up €16,823 (+462.7%), from €3,636 to €20,459
- Other operating charges -€4,865
down €4,865 (-19.3%), from €25,188 to €20,324
- Financial income -€930
down €930 (-90.2%), from €1,031 to €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 | €367,847 | €398,404 | +€30,557 | +8.3% |
| Fixed assets | 21/28 | €81,230 | €80,347 | -€883 | -1.1% |
| Tangible fixed assets | 22/27 | €6,605 | €5,722 | -€883 | -13.4% |
| Land and buildings | 22 | €3,343 | €2,507 | -€836 | -25.0% |
| Furniture and vehicles | 24 | €2,730 | €2,815 | +€86 | +3.1% |
| Other tangible fixed assets | 26 | €532 | €399 | -€133 | -25.0% |
| Financial fixed assets | 28 | €74,625 | €74,625 | = | 0.0% |
| Current assets | 29/58 | €286,617 | €318,057 | +€31,440 | +11.0% |
| Amounts receivable within one year | 40/41 | €281,881 | €310,388 | +€28,507 | +10.1% |
| Trade receivables | 40 | €209,116 | €257,430 | +€48,314 | +23.1% |
| Other amounts receivable | 41 | €72,764 | €52,958 | -€19,807 | -27.2% |
| Cash at bank and in hand | 54/58 | - | €6,024 | +€6,024 | |
| Deferred charges and accrued income | 490/1 | €4,736 | €1,645 | -€3,091 | -65.3% |
| Total equity and liabilities | 10/49 | €367,847 | €398,404 | +€30,557 | +8.3% |
| Equity | 10/15 | €228,833 | €256,618 | +€27,785 | +12.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €220,773 | €248,558 | +€27,785 | +12.6% |
| Amounts payable | 17/49 | €139,014 | €141,786 | +€2,772 | +2.0% |
| Amounts payable within one year | 42/48 | €139,014 | €141,786 | +€2,772 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €6,248 | €6,835 | +€588 | +9.4% |
| Financial debts | 43 | €4,996 | €4,996 | = | 0.0% |
| Credit institutions | 430/8 | €4,996 | €4,996 | = | 0.0% |
| Trade debts | 44 | €55,909 | €38,576 | -€17,333 | -31.0% |
| Suppliers | 440/4 | €55,909 | €38,576 | -€17,333 | -31.0% |
| Taxes, remuneration and social security | 45 | €20,000 | €31,510 | +€11,510 | +57.5% |
| Taxes | 450/3 | - | €510 | +€510 | |
| Remuneration and social security | 454/9 | €20,000 | €31,000 | +€11,000 | +55.0% |
| Other amounts payable | 47/48 | €51,860 | €59,868 | +€8,007 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,609 | €1,957 | +€348 | +21.6% |
| Other operating charges | 640/8 | €25,188 | €20,324 | -€4,865 | -19.3% |
| Gross operating margin | 9900 | €32,965 | €84,822 | +€51,856 | +157.3% |
| Operating profit (loss) | 9901 | €6,168 | €62,541 | +€56,373 | +914.0% |
| Financial income | 75/76B | €1,031 | €101 | -€930 | -90.2% |
| Recurring financial income | 75 | €1,031 | €101 | -€930 | -90.2% |
| Financial charges | 65/66B | €4,187 | €4,397 | +€211 | +5.0% |
| Recurring financial charges | 65 | €4,187 | €4,397 | +€211 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €3,012 | €58,244 | +€55,233 | +1834.0% |
| Income taxes | 67/77 | €3,636 | €20,459 | +€16,823 | +462.7% |
| Profit (loss) for the period | 9904 | -€624 | €37,785 | +€38,409 | |
| Profit (loss) for the period to be appropriated | 9905 | -€624 | €37,785 | +€38,409 |
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 8 October 2026 via checked.be.