CORE CONCEPTS: 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.
CORE CONCEPTS
Largest movements
- Cash +€30,646
up €30,646 (+590%), from €5,192 to €35,837
mainly Net result for the year (+€25,856) and Depreciation (+€8,184)
- Tangible fixed assets -€8,184
down €8,184 (-33.8%), from €24,205 to €16,022
of which Furniture and vehicles: -€6,740
- Receivables within one year -€2,535
down €2,535 (-14.1%), from €17,992 to €15,457
of which Other amounts receivable: -€3,340
- Reserves +€25,856
up €25,856 (+161%), from €16,072 to €41,928
- Debts after one year -€8,717
down €8,717 (-97.7%), from €8,918 to €201
- Tax, wage and social debts +€5,384
up €5,384 (+89.9%), from €5,991 to €11,375
- Current portion of long-term debt -€2,600
down €2,600 (-24.4%), from €10,648 to €8,047
- Gross operating margin +€28,792
up €28,792 (+187%), from €15,425 to €44,218
- Taxes +€5,521
up €5,521 (+207%), from €2,663 to €8,183
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 | €47,417 | €67,345 | +€19,928 | +42.0% |
| Fixed assets | 21/28 | €24,205 | €16,022 | -€8,184 | -33.8% |
| Tangible fixed assets | 22/27 | €24,205 | €16,022 | -€8,184 | -33.8% |
| Furniture and vehicles | 24 | €21,013 | €14,273 | -€6,740 | -32.1% |
| Leasing and similar rights | 25 | €3,193 | €1,749 | -€1,444 | -45.2% |
| Current assets | 29/58 | €23,211 | €51,323 | +€28,112 | +121% |
| Amounts receivable within one year | 40/41 | €17,992 | €15,457 | -€2,535 | -14.1% |
| Trade receivables | 40 | €14,520 | €15,325 | +€805 | +5.5% |
| Other amounts receivable | 41 | €3,472 | €133 | -€3,340 | -96.2% |
| Cash at bank and in hand | 54/58 | €5,192 | €35,837 | +€30,646 | +590% |
| Deferred charges and accrued income | 490/1 | €27 | €28 | +€1 | +3.7% |
| Total equity and liabilities | 10/49 | €47,417 | €67,345 | +€19,928 | +42.0% |
| Equity | 10/15 | €19,072 | €44,928 | +€25,856 | +136% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €16,072 | €41,928 | +€25,856 | +161% |
| Distributable reserves | 133 | €16,072 | €41,928 | +€25,856 | +161% |
| Amounts payable | 17/49 | €28,344 | €22,417 | -€5,928 | -20.9% |
| Amounts payable after more than one year | 17 | €8,918 | €201 | -€8,717 | -97.7% |
| Financial debts | 170/4 | €8,918 | €201 | -€8,717 | -97.7% |
| Amounts payable within one year | 42/48 | €19,426 | €22,216 | +€2,790 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €10,648 | €8,047 | -€2,600 | -24.4% |
| Financial debts | 43 | €510 | €930 | +€420 | +82.4% |
| Credit institutions | 430/8 | €510 | €930 | +€420 | +82.4% |
| Trade debts | 44 | €1,796 | €1,775 | -€21 | -1.2% |
| Suppliers | 440/4 | €1,796 | €1,775 | -€21 | -1.2% |
| Taxes, remuneration and social security | 45 | €5,991 | €11,375 | +€5,384 | +89.9% |
| Taxes | 450/3 | €5,991 | €11,375 | +€5,384 | +89.9% |
| Other amounts payable | 47/48 | €482 | €88 | -€394 | -81.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,879 | €8,184 | +€305 | +3.9% |
| Other operating charges | 640/8 | €1,029 | €855 | -€173 | -16.9% |
| Gross operating margin | 9900 | €15,425 | €44,218 | +€28,792 | +187% |
| Operating profit (loss) | 9901 | €6,518 | €35,179 | +€28,661 | +440% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €1,197 | €1,140 | -€57 | -4.8% |
| Recurring financial charges | 65 | €1,197 | €1,140 | -€57 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €5,321 | €34,039 | +€28,718 | +540% |
| Income taxes | 67/77 | €2,663 | €8,183 | +€5,521 | +207% |
| Profit (loss) for the period | 9904 | €2,658 | €25,856 | +€23,198 | +873% |
| Profit (loss) for the period to be appropriated | 9905 | €2,658 | €25,856 | +€23,198 | +873% |
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 20 October 2026 via checked.be.