CODE MANAGEMENT: 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.
CODE MANAGEMENT
Largest movements
- Tangible fixed assets +€50,409
new in 2025: €50,409
- Financial fixed assets +€34,500
new in 2025: €34,500
- Receivables within one year +€12,104
up €12,104 (+47.4%), from €25,559 to €37,662
of which Trade receivables: +€9,447
- Cash +€3,839
up €3,839 (+50.0%), from €7,683 to €11,522
mainly Other debts (+€80,095) and Short-term financial debts (+€20,954)
- Other debts +€80,095
up €80,095 (+1241.6%), from €6,451 to €86,545
- Short-term financial debts +€20,954
new in 2025: €20,954
- Profit (loss) carried forward +€10,788
up €10,788 (+122.0%), from €8,842 to €19,630
- Tax, wage and social debts -€8,820
down €8,820 (-68.5%), from €12,881 to €4,061
- Trade debts -€1,851
down €1,851 (-89.5%), from €2,067 to €217
- Gross operating margin +€19,129
up €19,129 (+868.1%), from €2,204 to €21,333
- Depreciation +€4,091
new in 2025: €4,091
- Taxes +€2,916
up €2,916 (+386.3%), from €755 to €3,671
- Financial charges +€1,181
up €1,181 (+406.1%), from €291 to €1,472
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 | €33,241 | €134,407 | +€101,165 | +304.3% |
| Fixed assets | 21/28 | - | €84,909 | +€84,909 | |
| Tangible fixed assets | 22/27 | - | €50,409 | +€50,409 | |
| Furniture and vehicles | 24 | - | €50,409 | +€50,409 | |
| Financial fixed assets | 28 | - | €34,500 | +€34,500 | |
| Current assets | 29/58 | €33,241 | €49,498 | +€16,257 | +48.9% |
| Amounts receivable within one year | 40/41 | €25,559 | €37,662 | +€12,104 | +47.4% |
| Trade receivables | 40 | €25,544 | €34,991 | +€9,447 | +37.0% |
| Other amounts receivable | 41 | €14 | €2,671 | +€2,657 | +18726.4% |
| Cash at bank and in hand | 54/58 | €7,683 | €11,522 | +€3,839 | +50.0% |
| Deferred charges and accrued income | 490/1 | - | €314 | +€314 | |
| Total equity and liabilities | 10/49 | €33,241 | €134,407 | +€101,165 | +304.3% |
| Equity | 10/15 | €11,842 | €22,630 | +€10,788 | +91.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,842 | €19,630 | +€10,788 | +122.0% |
| Amounts payable | 17/49 | €21,399 | €111,777 | +€90,378 | +422.3% |
| Amounts payable within one year | 42/48 | €21,399 | €111,777 | +€90,378 | +422.3% |
| Financial debts | 43 | - | €20,954 | +€20,954 | |
| Other loans | 439 | - | €20,954 | +€20,954 | |
| Trade debts | 44 | €2,067 | €217 | -€1,851 | -89.5% |
| Suppliers | 440/4 | €2,067 | €217 | -€1,851 | -89.5% |
| Taxes, remuneration and social security | 45 | €12,881 | €4,061 | -€8,820 | -68.5% |
| Taxes | 450/3 | €12,881 | €4,061 | -€8,820 | -68.5% |
| Other amounts payable | 47/48 | €6,451 | €86,545 | +€80,095 | +1241.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €4,091 | +€4,091 | |
| Other operating charges | 640/8 | €387 | €511 | +€124 | +32.0% |
| Gross operating margin | 9900 | €2,204 | €21,333 | +€19,129 | +868.1% |
| Operating profit (loss) | 9901 | €1,816 | €16,730 | +€14,914 | +821.1% |
| Financial income | 75/76B | €0 | €1 | +€1 | +2600.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +2600.0% |
| Financial charges | 65/66B | €291 | €1,472 | +€1,181 | +406.1% |
| Recurring financial charges | 65 | €291 | €1,472 | +€1,181 | +406.1% |
| Profit (loss) for the period before taxes | 9903 | €1,525 | €15,259 | +€13,733 | +900.3% |
| Income taxes | 67/77 | €755 | €3,671 | +€2,916 | +386.3% |
| Profit (loss) for the period | 9904 | €771 | €11,588 | +€10,817 | +1403.8% |
| Profit (loss) for the period to be appropriated | 9905 | €771 | €11,588 | +€10,817 | +1403.8% |
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 28 September 2026 via checked.be.