Chris Naenen: 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.
Chris Naenen
Largest movements
- Cash +€61,332
up €61,332 (+263%), from €23,289 to €84,622
mainly Net result for the year (+€81,377) and Tax, wage and social debts (+€23,010)
- Current investments +€51,196
new in 2025: €51,196
- Receivables within one year +€2,283
up €2,283 (+5.4%), from €42,465 to €44,748
- Reserves +€81,377
up €81,377 (+242%), from €33,646 to €115,023
- Tax, wage and social debts +€23,010
up €23,010 (+114%), from €20,169 to €43,179
- Trade debts +€10,425
up €10,425 (+538%), from €1,939 to €12,364
- Gross operating margin +€65,048
up €65,048 (+151%), from €43,172 to €108,220
- Taxes +€21,937
up €21,937 (+249%), from €8,794 to €30,731
- Financial income +€6,574
up €6,574 (+85,484%), from €8 to €6,581
- Financial charges +€2,268
up €2,268 (+945%), from €240 to €2,508
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 | €65,754 | €180,565 | +€114,811 | +175% |
| Current assets | 29/58 | €65,754 | €180,565 | +€114,811 | +175% |
| Amounts receivable within one year | 40/41 | €42,465 | €44,748 | +€2,283 | +5.4% |
| Trade receivables | 40 | €42,465 | €44,748 | +€2,283 | +5.4% |
| Current investments | 50/53 | - | €51,196 | +€51,196 | |
| Cash at bank and in hand | 54/58 | €23,289 | €84,622 | +€61,332 | +263% |
| Total equity and liabilities | 10/49 | €65,754 | €180,565 | +€114,811 | +175% |
| Equity | 10/15 | €38,646 | €120,023 | +€81,377 | +211% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €33,646 | €115,023 | +€81,377 | +242% |
| Distributable reserves | 133 | €33,646 | €115,023 | +€81,377 | +242% |
| Amounts payable | 17/49 | €27,109 | €60,543 | +€33,434 | +123% |
| Amounts payable within one year | 42/48 | €27,109 | €60,543 | +€33,434 | +123% |
| Trade debts | 44 | €1,939 | €12,364 | +€10,425 | +538% |
| Suppliers | 440/4 | €1,939 | €12,364 | +€10,425 | +538% |
| Taxes, remuneration and social security | 45 | €20,169 | €43,179 | +€23,010 | +114% |
| Taxes | 450/3 | €20,169 | €43,179 | +€23,010 | +114% |
| Other amounts payable | 47/48 | €5,000 | €5,000 | = | 0.0% |
| Other operating charges | 640/8 | €500 | €186 | -€314 | -62.9% |
| Gross operating margin | 9900 | €43,172 | €108,220 | +€65,048 | +151% |
| Operating profit (loss) | 9901 | €42,672 | €108,034 | +€65,362 | +153% |
| Financial income | 75/76B | €8 | €6,581 | +€6,574 | +85,484% |
| Recurring financial income | 75 | €8 | €6,581 | +€6,574 | +85,484% |
| Financial charges | 65/66B | €240 | €2,508 | +€2,268 | +945% |
| Recurring financial charges | 65 | €240 | €2,508 | +€2,268 | +945% |
| Profit (loss) for the period before taxes | 9903 | €42,440 | €112,108 | +€69,668 | +164% |
| Income taxes | 67/77 | €8,794 | €30,731 | +€21,937 | +249% |
| Profit (loss) for the period | 9904 | €33,646 | €81,377 | +€47,731 | +142% |
| Profit (loss) for the period to be appropriated | 9905 | €33,646 | €81,377 | +€47,731 | +142% |
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 22 October 2026 via checked.be.