CHANGE IT: 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.
CHANGE IT
Largest movements
- Receivables after one year +€300,000
up €300,000 (+428.6%), from €70,000 to €370,000
- Cash +€101,816
up €101,816 (+534.2%), from €19,060 to €120,876
mainly Debts after one year (+€388,616) and Depreciation (+€27,065)
- Receivables within one year -€19,715
down €19,715 (-23.8%), from €82,678 to €62,963
of which Other amounts receivable: -€16,440
- Stocks and contracts -€14,910
down €14,910 (-56.4%), from €26,430 to €11,520
- Tangible fixed assets -€8,190
down €8,190 (-5.5%), from €149,027 to €140,837
of which Land and buildings: -€12,943
- Debts after one year +€388,616
up €388,616 (+2073.0%), from €18,747 to €407,362
- Current portion of long-term debt -€31,718
down €31,718 (-73.6%), from €43,102 to €11,385
- Reserves +€11,728
up €11,728 (+6.2%), from €189,999 to €201,727
- Financial income +€7,120
up €7,120 (+121.2%), from €5,875 to €12,995
- Financial charges +€6,421
up €6,421 (+188.9%), from €3,400 to €9,821
- Gross operating margin +€5,260
up €5,260 (+9.9%), from €53,095 to €58,355
- Taxes +€1,510
up €1,510 (+17.4%), from €8,675 to €10,186
- Depreciation +€1,212
up €1,212 (+4.7%), from €25,853 to €27,065
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 | €349,117 | €715,548 | +€366,430 | +105.0% |
| Fixed assets | 21/28 | €149,027 | €140,837 | -€8,190 | -5.5% |
| Tangible fixed assets | 22/27 | €149,027 | €140,837 | -€8,190 | -5.5% |
| Land and buildings | 22 | €92,763 | €79,820 | -€12,943 | -14.0% |
| Plant, machinery and equipment | 23 | €13,651 | €16,473 | +€2,822 | +20.7% |
| Furniture and vehicles | 24 | €14,255 | €10,023 | -€4,232 | -29.7% |
| Other tangible fixed assets | 26 | €28,358 | €34,521 | +€6,163 | +21.7% |
| Current assets | 29/58 | €200,090 | €574,711 | +€374,620 | +187.2% |
| Amounts receivable after more than one year | 29 | €70,000 | €370,000 | +€300,000 | +428.6% |
| Other amounts receivable | 291 | €70,000 | €370,000 | +€300,000 | +428.6% |
| Stocks and contracts in progress | 3 | €26,430 | €11,520 | -€14,910 | -56.4% |
| Stocks | 30/36 | €26,430 | €11,520 | -€14,910 | -56.4% |
| Amounts receivable within one year | 40/41 | €82,678 | €62,963 | -€19,715 | -23.8% |
| Trade receivables | 40 | €23,859 | €20,584 | -€3,274 | -13.7% |
| Other amounts receivable | 41 | €58,819 | €42,379 | -€16,440 | -28.0% |
| Cash at bank and in hand | 54/58 | €19,060 | €120,876 | +€101,816 | +534.2% |
| Deferred charges and accrued income | 490/1 | €1,923 | €9,352 | +€7,429 | +386.3% |
| Total equity and liabilities | 10/49 | €349,117 | €715,548 | +€366,430 | +105.0% |
| Equity | 10/15 | €208,599 | €220,327 | +€11,728 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €189,999 | €201,727 | +€11,728 | +6.2% |
| Distributable reserves | 133 | €189,999 | €201,727 | +€11,728 | +6.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €140,519 | €495,221 | +€354,702 | +252.4% |
| Amounts payable after more than one year | 17 | €18,747 | €407,362 | +€388,616 | +2073.0% |
| Financial debts | 170/4 | €18,747 | €407,362 | +€388,616 | +2073.0% |
| Amounts payable within one year | 42/48 | €121,105 | €81,957 | -€39,148 | -32.3% |
| Current portion of amounts payable after more than one year | 42 | €43,102 | €11,385 | -€31,718 | -73.6% |
| Financial debts | 43 | €5,420 | €3,750 | -€1,670 | -30.8% |
| Credit institutions | 430/8 | €5,420 | €3,750 | -€1,670 | -30.8% |
| Trade debts | 44 | €19,193 | €16,189 | -€3,004 | -15.7% |
| Suppliers | 440/4 | €19,193 | €16,189 | -€3,004 | -15.7% |
| Advances received on contracts in progress | 46 | €1,215 | €0 | -€1,215 | -100.0% |
| Taxes, remuneration and social security | 45 | €18,901 | €17,360 | -€1,541 | -8.2% |
| Taxes | 450/3 | €17,035 | €15,494 | -€1,541 | -9.0% |
| Remuneration and social security | 454/9 | €1,865 | €1,865 | = | 0.0% |
| Other amounts payable | 47/48 | €33,274 | €33,274 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €667 | €5,902 | +€5,235 | +784.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,853 | €27,065 | +€1,212 | +4.7% |
| Other operating charges | 640/8 | €4,470 | €4,018 | -€452 | -10.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €53,095 | €58,355 | +€5,260 | +9.9% |
| Operating profit (loss) | 9901 | €22,771 | €27,272 | +€4,501 | +19.8% |
| Financial income | 75/76B | €5,875 | €12,995 | +€7,120 | +121.2% |
| Recurring financial income | 75 | €5,875 | €12,995 | +€7,120 | +121.2% |
| Financial charges | 65/66B | €3,400 | €9,821 | +€6,421 | +188.9% |
| Recurring financial charges | 65 | €3,400 | €9,821 | +€6,421 | +188.9% |
| Profit (loss) for the period before taxes | 9903 | €25,246 | €30,446 | +€5,200 | +20.6% |
| Income taxes | 67/77 | €8,675 | €10,186 | +€1,510 | +17.4% |
| Profit (loss) for the period | 9904 | €16,571 | €20,261 | +€3,690 | +22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,571 | €20,261 | +€3,690 | +22.3% |
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 7 October 2026 via checked.be.