Connect Your Dots: 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.
Connect Your Dots
Largest movements
- Receivables within one year +€19,661
up €19,661 (+28.2%), from €69,733 to €89,394
of which Trade receivables: +€18,127
- Deferred charges and accrued income +€10,946
up €10,946 (+26.2%), from €41,757 to €52,704
- Cash -€8,983
down €8,983 (-91.5%), from €9,817 to €834
mainly Receivables within one year (-€19,661) and Current portion of long-term debt (-€12,212)
- Tangible fixed assets -€6,097
down €6,097 (-69.7%), from €8,746 to €2,649
of which Plant, machinery and equipment: -€3,862
- Intangible fixed assets +€1,708
up €1,708, from €0 to €1,708
- Current portion of long-term debt -€12,212
down €12,212 (-19.8%), from €61,555 to €49,343
- Debts after one year +€10,554
up €10,554 (+17.2%), from €61,390 to €71,944
of which Other amounts payable: +€31,250
- Tax, wage and social debts +€8,668
up €8,668 (+20.8%), from €41,749 to €50,417
of which Taxes: +€12,362
- Profit (loss) carried forward +€8,402
up €8,402 (+8.6%), from -€97,627 to -€89,225
- Trade debts -€2,603
down €2,603 (-6.2%), from €42,256 to €39,653
- Gross operating margin -€85,176
down €85,176 (-25.3%), from €336,288 to €251,112
- Staff costs -€52,800
down €52,800 (-19.2%), from €274,509 to €221,709
- Other operating charges -€31,199
down €31,199 (-93.4%), from €33,407 to €2,208
- Taxes +€8,647
up €8,647 (+247%), from €3,500 to €12,147
- Financial charges -€8,118
down €8,118 (-80.8%), from €10,045 to €1,927
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 | €130,053 | €147,289 | +€17,235 | +13.3% |
| Fixed assets | 21/28 | €8,746 | €4,357 | -€4,389 | -50.2% |
| Intangible fixed assets | 21 | €0 | €1,708 | +€1,708 | |
| Tangible fixed assets | 22/27 | €8,746 | €2,649 | -€6,097 | -69.7% |
| Plant, machinery and equipment | 23 | €5,701 | €1,839 | -€3,862 | -67.7% |
| Furniture and vehicles | 24 | €3,045 | €809 | -€2,236 | -73.4% |
| Current assets | 29/58 | €121,307 | €142,932 | +€21,625 | +17.8% |
| Amounts receivable within one year | 40/41 | €69,733 | €89,394 | +€19,661 | +28.2% |
| Trade receivables | 40 | €69,256 | €87,383 | +€18,127 | +26.2% |
| Other amounts receivable | 41 | €477 | €2,011 | +€1,534 | +322% |
| Cash at bank and in hand | 54/58 | €9,817 | €834 | -€8,983 | -91.5% |
| Deferred charges and accrued income | 490/1 | €41,757 | €52,704 | +€10,946 | +26.2% |
| Total equity and liabilities | 10/49 | €130,053 | €147,289 | +€17,235 | +13.3% |
| Equity | 10/15 | -€77,167 | -€68,765 | +€8,402 | +10.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€97,627 | -€89,225 | +€8,402 | +8.6% |
| Amounts payable | 17/49 | €207,220 | €216,053 | +€8,833 | +4.3% |
| Amounts payable after more than one year | 17 | €61,390 | €71,944 | +€10,554 | +17.2% |
| Financial debts | 170/4 | €61,390 | €40,694 | -€20,696 | -33.7% |
| Other amounts payable | 178/9 | €0 | €31,250 | +€31,250 | |
| Amounts payable within one year | 42/48 | €145,830 | €142,535 | -€3,295 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €61,555 | €49,343 | -€12,212 | -19.8% |
| Financial debts | 43 | - | €842 | +€842 | |
| Credit institutions | 430/8 | - | €842 | +€842 | |
| Trade debts | 44 | €42,256 | €39,653 | -€2,603 | -6.2% |
| Suppliers | 440/4 | €42,256 | €39,653 | -€2,603 | -6.2% |
| Taxes, remuneration and social security | 45 | €41,749 | €50,417 | +€8,668 | +20.8% |
| Taxes | 450/3 | €17,761 | €30,123 | +€12,362 | +69.6% |
| Remuneration and social security | 454/9 | €23,989 | €20,294 | -€3,694 | -15.4% |
| Other amounts payable | 47/48 | €270 | €2,281 | +€2,011 | +745% |
| Accrued charges and deferred income | 492/3 | - | €1,575 | +€1,575 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €274,509 | €221,709 | -€52,800 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,846 | €6,149 | -€4,696 | -43.3% |
| Other operating charges | 640/8 | €33,407 | €2,208 | -€31,199 | -93.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €336,288 | €251,112 | -€85,176 | -25.3% |
| Operating profit (loss) | 9901 | €17,526 | €21,046 | +€3,520 | +20.1% |
| Financial income | 75/76B | €5 | €1,430 | +€1,425 | +26,889% |
| Recurring financial income | 75 | €5 | €1,430 | +€1,425 | +26,889% |
| Financial charges | 65/66B | €10,045 | €1,927 | -€8,118 | -80.8% |
| Recurring financial charges | 65 | €10,045 | €1,927 | -€8,118 | -80.8% |
| Profit (loss) for the period before taxes | 9903 | €7,487 | €20,549 | +€13,063 | +174% |
| Income taxes | 67/77 | €3,500 | €12,147 | +€8,647 | +247% |
| Profit (loss) for the period | 9904 | €3,987 | €8,402 | +€4,416 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €3,987 | €8,402 | +€4,416 | +111% |
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.