CODE COMMUNICATION: 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.
CODE COMMUNICATION
Largest movements
- Cash +€30,367
up €30,367 (+45.8%), from €66,297 to €96,663
mainly Net result for the year (+€56,628) and Deferred charges and accrued income (+€4,386)
- Deferred charges and accrued income -€4,386
down €4,386 (-30.5%), from €14,395 to €10,009
- Receivables within one year -€1,808
down €1,808 (-4.4%), from €41,359 to €39,552
of which Trade receivables: -€2,808
- Reserves +€33,259
new in 2025: €33,259
- Other debts -€32,693
down €32,693 (-71.7%), from €45,598 to €12,905
- Profit (loss) carried forward +€23,369
up €23,369 (+64.4%), from €36,291 to €59,660
- Trade debts -€1,562
down €1,562 (-20.6%), from €7,592 to €6,029
- Write-downs +€1,930
no longer reported in 2025 (was -€1,930)
- Other operating charges -€1,909
down €1,909 (-73.0%), from €2,615 to €706
- Gross operating margin +€1,376
up €1,376 (+1.8%), from €76,031 to €77,407
- Taxes +€1,219
up €1,219 (+7.4%), from €16,425 to €17,645
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 | €123,490 | €146,802 | +€23,311 | +18.9% |
| Fixed assets | 21/28 | €1,439 | €578 | -€861 | -59.8% |
| Tangible fixed assets | 22/27 | €1,439 | €578 | -€861 | -59.8% |
| Furniture and vehicles | 24 | €1,439 | €578 | -€861 | -59.8% |
| Current assets | 29/58 | €122,051 | €146,224 | +€24,173 | +19.8% |
| Amounts receivable within one year | 40/41 | €41,359 | €39,552 | -€1,808 | -4.4% |
| Trade receivables | 40 | €40,779 | €37,972 | -€2,808 | -6.9% |
| Other amounts receivable | 41 | €580 | €1,580 | +€1,000 | +172.4% |
| Cash at bank and in hand | 54/58 | €66,297 | €96,663 | +€30,367 | +45.8% |
| Deferred charges and accrued income | 490/1 | €14,395 | €10,009 | -€4,386 | -30.5% |
| Total equity and liabilities | 10/49 | €123,490 | €146,802 | +€23,311 | +18.9% |
| Equity | 10/15 | €46,291 | €102,919 | +€56,628 | +122.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €33,259 | +€33,259 | |
| Tax-exempt reserves | 132 | - | €33,259 | +€33,259 | |
| Profit (loss) carried forward | 14 | €36,291 | €59,660 | +€23,369 | +64.4% |
| Amounts payable | 17/49 | €77,199 | €43,883 | -€33,317 | -43.2% |
| Amounts payable within one year | 42/48 | €76,736 | €43,507 | -€33,229 | -43.3% |
| Trade debts | 44 | €7,592 | €6,029 | -€1,562 | -20.6% |
| Suppliers | 440/4 | €7,592 | €6,029 | -€1,562 | -20.6% |
| Taxes, remuneration and social security | 45 | €23,547 | €24,573 | +€1,026 | +4.4% |
| Taxes | 450/3 | €19,347 | €20,173 | +€826 | +4.3% |
| Remuneration and social security | 454/9 | €4,200 | €4,400 | +€200 | +4.8% |
| Other amounts payable | 47/48 | €45,598 | €12,905 | -€32,693 | -71.7% |
| Accrued charges and deferred income | 492/3 | €463 | €375 | -€88 | -18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €930 | €861 | -€69 | -7.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,930 | - | +€1,930 | |
| Other operating charges | 640/8 | €2,615 | €706 | -€1,909 | -73.0% |
| Gross operating margin | 9900 | €76,031 | €77,407 | +€1,376 | +1.8% |
| Operating profit (loss) | 9901 | €74,416 | €75,839 | +€1,423 | +1.9% |
| Financial income | 75/76B | €63 | €0 | -€63 | -100.0% |
| Recurring financial income | 75 | €63 | €0 | -€63 | -100.0% |
| Financial charges | 65/66B | €2,249 | €1,566 | -€683 | -30.4% |
| Recurring financial charges | 65 | €2,249 | €1,566 | -€683 | -30.4% |
| Profit (loss) for the period before taxes | 9903 | €72,230 | €74,273 | +€2,043 | +2.8% |
| Income taxes | 67/77 | €16,425 | €17,645 | +€1,219 | +7.4% |
| Profit (loss) for the period | 9904 | €55,805 | €56,628 | +€824 | +1.5% |
| Transfer to tax-exempt reserves | 689 | - | €33,259 | +€33,259 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,805 | €23,369 | -€32,435 | -58.1% |
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 11 October 2026 via checked.be.