CONSTANT DEVELOPMENTS: 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.
CONSTANT DEVELOPMENTS
Largest movements
- Cash +€29,579
up €29,579 (+34.0%), from €86,931 to €116,510
mainly Net result for the year (+€50,580) and Trade debts (+€6,509)
- Receivables within one year +€5,907
up €5,907 (+22.9%), from €25,806 to €31,712
of which Trade receivables: +€12,143
- Profit (loss) carried forward +€38,260
up €38,260, from -€38,260 to €0
- Other debts -€7,000
down €7,000 (-100.0%), from €7,000 to €0
- Trade debts +€6,509
up €6,509 (+417.8%), from €1,558 to €8,066
- Reserves -€4,394
down €4,394 (-3.5%), from €125,747 to €121,353
of which Distributable reserves: -€4,394
- Gross operating margin +€41,571
up €41,571 (+148.7%), from €27,953 to €69,524
- Taxes +€11,939
up €11,939 (+499.9%), from €2,388 to €14,327
- Other operating charges -€780
down €780 (-34.8%), from €2,241 to €1,461
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 | €120,122 | €154,970 | +€34,848 | +29.0% |
| Fixed assets | 21/28 | €6,339 | €6,559 | +€220 | +3.5% |
| Tangible fixed assets | 22/27 | €6,339 | €6,559 | +€220 | +3.5% |
| Furniture and vehicles | 24 | €6,339 | €3,850 | -€2,489 | -39.3% |
| Other tangible fixed assets | 26 | - | €2,709 | +€2,709 | |
| Current assets | 29/58 | €113,783 | €148,411 | +€34,628 | +30.4% |
| Amounts receivable within one year | 40/41 | €25,806 | €31,712 | +€5,907 | +22.9% |
| Trade receivables | 40 | €14,673 | €26,816 | +€12,143 | +82.8% |
| Other amounts receivable | 41 | €11,133 | €4,896 | -€6,236 | -56.0% |
| Cash at bank and in hand | 54/58 | €86,931 | €116,510 | +€29,579 | +34.0% |
| Deferred charges and accrued income | 490/1 | €1,046 | €189 | -€857 | -82.0% |
| Total equity and liabilities | 10/49 | €120,122 | €154,970 | +€34,848 | +29.0% |
| Equity | 10/15 | €93,687 | €127,553 | +€33,866 | +36.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €125,747 | €121,353 | -€4,394 | -3.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,491 | €2,491 | = | 0.0% |
| Distributable reserves | 133 | €121,396 | €117,002 | -€4,394 | -3.6% |
| Profit (loss) carried forward | 14 | -€38,260 | €0 | +€38,260 | |
| Amounts payable | 17/49 | €26,435 | €27,417 | +€982 | +3.7% |
| Amounts payable within one year | 42/48 | €26,435 | €27,417 | +€982 | +3.7% |
| Trade debts | 44 | €1,558 | €8,066 | +€6,509 | +417.8% |
| Suppliers | 440/4 | €1,558 | €8,066 | +€6,509 | +417.8% |
| Taxes, remuneration and social security | 45 | €17,877 | €19,351 | +€1,474 | +8.2% |
| Taxes | 450/3 | €15,077 | €19,351 | +€4,274 | +28.3% |
| Remuneration and social security | 454/9 | €2,800 | €0 | -€2,800 | -100.0% |
| Other amounts payable | 47/48 | €7,000 | €0 | -€7,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,427 | €2,790 | +€363 | +15.0% |
| Other operating charges | 640/8 | €2,241 | €1,461 | -€780 | -34.8% |
| Gross operating margin | 9900 | €27,953 | €69,524 | +€41,571 | +148.7% |
| Operating profit (loss) | 9901 | €23,284 | €65,272 | +€41,988 | +180.3% |
| Financial income | 75/76B | €383 | €0 | -€383 | -100.0% |
| Recurring financial income | 75 | €383 | €0 | -€383 | -100.0% |
| Financial charges | 65/66B | €113 | €365 | +€252 | +223.3% |
| Recurring financial charges | 65 | €113 | €365 | +€252 | +223.3% |
| Profit (loss) for the period before taxes | 9903 | €23,555 | €64,907 | +€41,353 | +175.6% |
| Income taxes | 67/77 | €2,388 | €14,327 | +€11,939 | +499.9% |
| Profit (loss) for the period | 9904 | €21,167 | €50,580 | +€29,414 | +139.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,167 | €50,580 | +€29,414 | +139.0% |
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.