Change2Grow: what changed
Two financial 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.
Change2Grow
Largest movements
- Receivables after one year +€27,916
up €27,916 (+23.2%), from €120,526 to €148,443
of which Other amounts receivable: +€27,916
- Cash +€25,197
up €25,197 (+34.0%), from €74,162 to €99,359
mainly Net result for the year (+€110,884) and Other debts (+€69,562)
- Receivables within one year +€10,762
up €10,762 (+3,304%), from €326 to €11,087
of which Trade receivables: +€11,057
- Tangible fixed assets -€8,196
down €8,196 (-8.5%), from €96,826 to €88,630
of which Land and buildings: -€6,421
- Other debts +€69,562
up €69,562 (+118%), from €58,927 to €128,489
- Debts after one year -€8,439
down €8,439 (-10.8%), from €78,304 to €69,866
of which Financial debts: -€8,439
- Gross operating margin +€30,938
up €30,938 (+25.1%), from €123,255 to €154,192
- Taxes +€8,088
up €8,088 (+31.0%), from €26,057 to €34,145
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.
Derived cash bridge
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 | €293,884 | €350,412 | +€56,528 | +19.2% |
| Fixed assets | 21/28 | €96,826 | €88,630 | -€8,196 | -8.5% |
| Tangible fixed assets | 22/27 | €96,826 | €88,630 | -€8,196 | -8.5% |
| Land and buildings | 22 | €89,891 | €83,470 | -€6,421 | -7.1% |
| Furniture and vehicles | 24 | €6,935 | €5,159 | -€1,775 | -25.6% |
| Current assets | 29/58 | €197,058 | €261,782 | +€64,724 | +32.8% |
| Amounts receivable after more than one year | 29 | €120,526 | €148,443 | +€27,916 | +23.2% |
| Trade receivables | 290 | €3,150 | €3,150 | = | 0.0% |
| Other amounts receivable | 291 | €117,376 | €145,293 | +€27,916 | +23.8% |
| Amounts receivable within one year | 40/41 | €326 | €11,087 | +€10,762 | +3,304% |
| Trade receivables | 40 | - | €11,057 | +€11,057 | |
| Other amounts receivable | 41 | €326 | €30 | -€295 | -90.7% |
| Cash at bank and in hand | 54/58 | €74,162 | €99,359 | +€25,197 | +34.0% |
| Deferred charges and accrued income | 490/1 | €2,044 | €2,894 | +€849 | +41.5% |
| Total equity and liabilities | 10/49 | €293,884 | €350,412 | +€56,528 | +19.2% |
| Equity | 10/15 | €120,919 | €120,919 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €809 | €809 | = | 0.0% |
| Tax-exempt reserves | 132 | €384 | €384 | = | 0.0% |
| Distributable reserves | 133 | €425 | €425 | = | 0.0% |
| Profit (loss) carried forward | 14 | €115,109 | €115,109 | = | 0.0% |
| Amounts payable | 17/49 | €172,965 | €229,493 | +€56,528 | +32.7% |
| Amounts payable after more than one year | 17 | €78,304 | €69,866 | -€8,439 | -10.8% |
| Financial debts | 170/4 | €77,212 | €68,773 | -€8,439 | -10.9% |
| Other amounts payable | 178/9 | €1,092 | €1,092 | = | 0.0% |
| Amounts payable within one year | 42/48 | €94,661 | €159,628 | +€64,967 | +68.6% |
| Current portion of amounts payable after more than one year | 42 | €8,321 | €8,439 | +€117 | +1.4% |
| Financial debts | 43 | €2 | €41 | +€39 | +1,925% |
| Credit institutions | 430/8 | €2 | €41 | +€39 | +1,925% |
| Trade debts | 44 | €6,679 | €4,253 | -€2,426 | -36.3% |
| Suppliers | 440/4 | €6,679 | €4,253 | -€2,426 | -36.3% |
| Taxes, remuneration and social security | 45 | €20,732 | €18,406 | -€2,325 | -11.2% |
| Taxes | 450/3 | €20,732 | €18,406 | -€2,325 | -11.2% |
| Other amounts payable | 47/48 | €58,927 | €128,489 | +€69,562 | +118% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,212 | €9,022 | -€190 | -2.1% |
| Other operating charges | 640/8 | €2,228 | €2,618 | +€390 | +17.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €123,255 | €154,192 | +€30,938 | +25.1% |
| Operating profit (loss) | 9901 | €111,814 | €142,553 | +€30,738 | +27.5% |
| Financial income | 75/76B | €4,136 | €4,066 | -€69 | -1.7% |
| Recurring financial income | 75 | €4,136 | €4,066 | -€69 | -1.7% |
| Financial charges | 65/66B | €1,736 | €1,589 | -€147 | -8.4% |
| Recurring financial charges | 65 | €1,736 | €1,589 | -€147 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €114,214 | €145,030 | +€30,816 | +27.0% |
| Income taxes | 67/77 | €26,057 | €34,145 | +€8,088 | +31.0% |
| Profit (loss) for the period | 9904 | €88,157 | €110,884 | +€22,727 | +25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €88,157 | €110,884 | +€22,727 | +25.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.