CONCEPT: 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.
CONCEPT
Largest movements
- Cash +€58,896
up €58,896 (+373.2%), from €15,780 to €74,676
mainly Receivables within one year (+€21,363) and Net result for the year (+€14,522)
- Receivables within one year -€21,363
down €21,363 (-70.6%), from €30,277 to €8,914
of which Trade receivables: -€25,409
- Tangible fixed assets -€12,428
down €12,428 (-52.5%), from €23,668 to €11,240
of which Furniture and vehicles: -€9,769
- Reserves +€14,522
up €14,522 (+117.8%), from €12,324 to €26,846
- Tax, wage and social debts +€5,962
up €5,962 (+180.8%), from €3,298 to €9,260
- Trade debts +€4,492
up €4,492 (+364.6%), from €1,232 to €5,724
- Other debts +€1,385
up €1,385 (+4.6%), from €30,062 to €31,447
- Current portion of long-term debt -€1,256
down €1,256 (-43.0%), from €2,923 to €1,667
- Gross operating margin +€27,907
up €27,907 (+234.4%), from €11,904 to €39,811
- Taxes +€6,994
up €6,994 (+407.6%), from €1,716 to €8,710
- Depreciation +€4,682
up €4,682 (+60.4%), from €7,746 to €12,428
- Financial charges +€2,086
up €2,086 (+230.0%), from €907 to €2,993
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 | €69,725 | €94,830 | +€25,105 | +36.0% |
| Fixed assets | 21/28 | €23,668 | €11,240 | -€12,428 | -52.5% |
| Tangible fixed assets | 22/27 | €23,668 | €11,240 | -€12,428 | -52.5% |
| Furniture and vehicles | 24 | €13,302 | €3,533 | -€9,769 | -73.4% |
| Other tangible fixed assets | 26 | €10,366 | €7,707 | -€2,659 | -25.7% |
| Current assets | 29/58 | €46,057 | €83,590 | +€37,533 | +81.5% |
| Amounts receivable within one year | 40/41 | €30,277 | €8,914 | -€21,363 | -70.6% |
| Trade receivables | 40 | €26,547 | €1,138 | -€25,409 | -95.7% |
| Other amounts receivable | 41 | €3,730 | €7,776 | +€4,046 | +108.5% |
| Cash at bank and in hand | 54/58 | €15,780 | €74,676 | +€58,896 | +373.2% |
| Total equity and liabilities | 10/49 | €69,725 | €94,830 | +€25,105 | +36.0% |
| Equity | 10/15 | €32,210 | €46,732 | +€14,522 | +45.1% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Outside capital | 11 | €8,060 | €8,060 | = | 0.0% |
| Other | 1109/19 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €12,324 | €26,846 | +€14,522 | +117.8% |
| Distributable reserves | 133 | €12,324 | €26,846 | +€14,522 | +117.8% |
| Profit (loss) carried forward | 14 | €11,826 | €11,826 | = | 0.0% |
| Amounts payable | 17/49 | €37,515 | €48,098 | +€10,583 | +28.2% |
| Amounts payable within one year | 42/48 | €37,515 | €48,098 | +€10,583 | +28.2% |
| Current portion of amounts payable after more than one year | 42 | €2,923 | €1,667 | -€1,256 | -43.0% |
| Trade debts | 44 | €1,232 | €5,724 | +€4,492 | +364.6% |
| Suppliers | 440/4 | €1,232 | €5,724 | +€4,492 | +364.6% |
| Taxes, remuneration and social security | 45 | €3,298 | €9,260 | +€5,962 | +180.8% |
| Taxes | 450/3 | €3,298 | €9,260 | +€5,962 | +180.8% |
| Other amounts payable | 47/48 | €30,062 | €31,447 | +€1,385 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,746 | €12,428 | +€4,682 | +60.4% |
| Other operating charges | 640/8 | €832 | €1,158 | +€326 | +39.2% |
| Gross operating margin | 9900 | €11,904 | €39,811 | +€27,907 | +234.4% |
| Operating profit (loss) | 9901 | €3,326 | €26,225 | +€22,899 | +688.5% |
| Financial charges | 65/66B | €907 | €2,993 | +€2,086 | +230.0% |
| Recurring financial charges | 65 | €907 | €2,993 | +€2,086 | +230.0% |
| Profit (loss) for the period before taxes | 9903 | €2,419 | €23,232 | +€20,813 | +860.4% |
| Income taxes | 67/77 | €1,716 | €8,710 | +€6,994 | +407.6% |
| Profit (loss) for the period | 9904 | €703 | €14,522 | +€13,819 | +1965.7% |
| Profit (loss) for the period to be appropriated | 9905 | €703 | €14,522 | +€13,819 | +1965.7% |
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 3 October 2026 via checked.be.