Codewise: 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.
Codewise
Largest movements
- Cash +€57,475
up €57,475 (+17.4%), from €329,977 to €387,452
mainly Other debts (+€89,677) and Net result for the year (+€67,707)
- Receivables within one year +€28,968
up €28,968 (+85.9%), from €33,728 to €62,696
- Other debts +€89,677
up €89,677 (+20091.5%), from €446 to €90,123
- Reserves -€30,769
down €30,769 (-9.8%), from €313,690 to €282,921
of which Distributable reserves: -€30,769
- Tax, wage and social debts +€25,309
up €25,309 (+200.5%), from €12,623 to €37,932
of which Taxes: +€26,123
- Accrued charges and deferred income +€15,970
new in 2025: €15,970
- Trade debts -€9,887
down €9,887 (-67.9%), from €14,561 to €4,674
- Gross operating margin +€33,397
up €33,397 (+48.1%), from €69,425 to €102,823
- Taxes +€13,775
up €13,775 (+71.8%), from €19,189 to €32,964
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 | €369,329 | €459,628 | +€90,300 | +24.4% |
| Fixed assets | 21/28 | €3,921 | €8,203 | +€4,282 | +109.2% |
| Tangible fixed assets | 22/27 | €3,921 | €8,203 | +€4,282 | +109.2% |
| Land and buildings | 22 | €3,921 | €8,203 | +€4,282 | +109.2% |
| Current assets | 29/58 | €365,408 | €451,426 | +€86,018 | +23.5% |
| Amounts receivable within one year | 40/41 | €33,728 | €62,696 | +€28,968 | +85.9% |
| Trade receivables | 40 | €33,728 | €62,696 | +€28,968 | +85.9% |
| Cash at bank and in hand | 54/58 | €329,977 | €387,452 | +€57,475 | +17.4% |
| Deferred charges and accrued income | 490/1 | €1,703 | €1,277 | -€426 | -25.0% |
| Total equity and liabilities | 10/49 | €369,329 | €459,628 | +€90,300 | +24.4% |
| Equity | 10/15 | €341,699 | €310,930 | -€30,769 | -9.0% |
| Contributions | 10/11 | €14,548 | €14,548 | = | 0.0% |
| Reserves | 13 | €313,690 | €282,921 | -€30,769 | -9.8% |
| Non-distributable reserves | 130/1 | €22,070 | €22,070 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,070 | €22,070 | = | 0.0% |
| Distributable reserves | 133 | €291,620 | €260,851 | -€30,769 | -10.6% |
| Profit (loss) carried forward | 14 | €13,461 | €13,461 | = | 0.0% |
| Amounts payable | 17/49 | €27,630 | €148,699 | +€121,069 | +438.2% |
| Amounts payable within one year | 42/48 | €27,630 | €132,729 | +€105,099 | +380.4% |
| Trade debts | 44 | €14,561 | €4,674 | -€9,887 | -67.9% |
| Suppliers | 440/4 | €14,561 | €4,674 | -€9,887 | -67.9% |
| Taxes, remuneration and social security | 45 | €12,623 | €37,932 | +€25,309 | +200.5% |
| Taxes | 450/3 | €9,645 | €35,768 | +€26,123 | +270.8% |
| Remuneration and social security | 454/9 | €2,978 | €2,165 | -€813 | -27.3% |
| Other amounts payable | 47/48 | €446 | €90,123 | +€89,677 | +20091.5% |
| Accrued charges and deferred income | 492/3 | - | €15,970 | +€15,970 | |
| Remuneration, social security and pensions | 62 | €387 | €787 | +€400 | +103.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,072 | €703 | -€369 | -34.4% |
| Other operating charges | 640/8 | €383 | €450 | +€67 | +17.6% |
| Gross operating margin | 9900 | €69,425 | €102,823 | +€33,397 | +48.1% |
| Operating profit (loss) | 9901 | €67,583 | €100,882 | +€33,299 | +49.3% |
| Financial income | 75/76B | €84 | €0 | -€84 | -100.0% |
| Recurring financial income | 75 | €84 | €0 | -€84 | -100.0% |
| Financial charges | 65/66B | €186 | €211 | +€25 | +13.4% |
| Recurring financial charges | 65 | €186 | €211 | +€25 | +13.4% |
| Profit (loss) for the period before taxes | 9903 | €67,481 | €100,671 | +€33,190 | +49.2% |
| Income taxes | 67/77 | €19,189 | €32,964 | +€13,775 | +71.8% |
| Profit (loss) for the period | 9904 | €48,292 | €67,707 | +€19,415 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,292 | €67,707 | +€19,415 | +40.2% |
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 9 October 2026 via checked.be.