CONTENT IS KING: 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.
CONTENT IS KING
Largest movements
- Receivables within one year +€34,073
up €34,073 (+53.4%), from €63,827 to €97,899
of which Trade receivables: +€30,617
- Cash -€17,243
down €17,243 (-8.6%), from €200,822 to €183,579
mainly Receivables within one year (-€34,073) and Investment in fixed assets (net) (-€22,600)
- Tangible fixed assets +€7,127
up €7,127 (+6.2%), from €114,247 to €121,374
of which Other tangible fixed assets: +€8,785
- Intangible fixed assets -€6,997
down €6,997 (-42.6%), from €16,444 to €9,447
- Reserves +€13,581
up €13,581 (+4.8%), from €281,465 to €295,046
of which Distributable reserves: +€13,581
- Tax, wage and social debts +€4,781
up €4,781 (+38.3%), from €12,472 to €17,253
- Gross operating margin -€198,208
down €198,208 (-82.1%), from €241,313 to €43,104
- Taxes -€50,030
down €50,030 (-88.9%), from €56,282 to €6,252
- Depreciation -€19,591
down €19,591 (-46.6%), from €42,061 to €22,470
- Financial charges -€7,406
down €7,406 (-98.4%), from €7,530 to €123
- Other operating charges -€4,251
down €4,251 (-86.2%), from €4,929 to €678
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 | €395,339 | €412,299 | +€16,960 | +4.3% |
| Fixed assets | 21/28 | €130,691 | €130,821 | +€130 | +0.1% |
| Intangible fixed assets | 21 | €16,444 | €9,447 | -€6,997 | -42.6% |
| Tangible fixed assets | 22/27 | €114,247 | €121,374 | +€7,127 | +6.2% |
| Furniture and vehicles | 24 | €3,723 | €2,066 | -€1,657 | -44.5% |
| Other tangible fixed assets | 26 | €110,524 | €119,308 | +€8,785 | +7.9% |
| Current assets | 29/58 | €264,648 | €281,478 | +€16,830 | +6.4% |
| Amounts receivable within one year | 40/41 | €63,827 | €97,899 | +€34,073 | +53.4% |
| Trade receivables | 40 | €10,331 | €40,948 | +€30,617 | +296.4% |
| Other amounts receivable | 41 | €53,496 | €56,952 | +€3,456 | +6.5% |
| Cash at bank and in hand | 54/58 | €200,822 | €183,579 | -€17,243 | -8.6% |
| Total equity and liabilities | 10/49 | €395,339 | €412,299 | +€16,960 | +4.3% |
| Equity | 10/15 | €381,465 | €395,046 | +€13,581 | +3.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €281,465 | €295,046 | +€13,581 | +4.8% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €271,465 | €285,046 | +€13,581 | +5.0% |
| Amounts payable | 17/49 | €13,874 | €17,253 | +€3,379 | +24.4% |
| Amounts payable within one year | 42/48 | €13,874 | €17,253 | +€3,379 | +24.4% |
| Trade debts | 44 | €1,402 | - | -€1,402 | |
| Suppliers | 440/4 | €1,402 | - | -€1,402 | |
| Taxes, remuneration and social security | 45 | €12,472 | €17,253 | +€4,781 | +38.3% |
| Taxes | 450/3 | €12,472 | €17,253 | +€4,781 | +38.3% |
| Non-recurring operating income | 76A | €243,331 | - | -€243,331 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,061 | €22,470 | -€19,591 | -46.6% |
| Other operating charges | 640/8 | €4,929 | €678 | -€4,251 | -86.2% |
| Gross operating margin | 9900 | €241,313 | €43,104 | -€198,208 | -82.1% |
| Operating profit (loss) | 9901 | €194,322 | €19,957 | -€174,366 | -89.7% |
| Financial income | 75/76B | €434 | €0 | -€434 | -100.0% |
| Recurring financial income | 75 | €434 | €0 | -€434 | -100.0% |
| Financial charges | 65/66B | €7,530 | €123 | -€7,406 | -98.4% |
| Recurring financial charges | 65 | €7,530 | €123 | -€7,406 | -98.4% |
| Profit (loss) for the period before taxes | 9903 | €187,227 | €19,833 | -€167,394 | -89.4% |
| Income taxes | 67/77 | €56,282 | €6,252 | -€50,030 | -88.9% |
| Profit (loss) for the period | 9904 | €130,945 | €13,581 | -€117,364 | -89.6% |
| Profit (loss) for the period to be appropriated | 9905 | €130,945 | €13,581 | -€117,364 | -89.6% |
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 10 October 2026 via checked.be.