CORE EVENTS: 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.
CORE EVENTS
Largest movements
- Receivables within one year +€98,114
up €98,114 (+239.9%), from €40,900 to €139,014
of which Trade receivables: +€99,220
- Cash +€5,714
up €5,714 (+49.1%), from €11,633 to €17,347
mainly Net result for the year (+€41,010) and Trade debts (+€33,970)
- Tangible fixed assets +€4,139
new in 2025: €4,139
- Reserves +€41,000
new in 2025: €41,000
- Trade debts +€33,970
up €33,970 (+124.7%), from €27,233 to €61,203
- Tax, wage and social debts +€33,281
up €33,281 (+1027.8%), from €3,238 to €36,519
- Gross operating margin +€41,757
up €41,757 (+272.9%), from €15,304 to €57,061
- Taxes +€12,392
up €12,392 (+382.7%), from €3,238 to €15,630
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 | €52,533 | €160,499 | +€107,966 | +205.5% |
| Fixed assets | 21/28 | - | €4,139 | +€4,139 | |
| Tangible fixed assets | 22/27 | - | €4,139 | +€4,139 | |
| Plant, machinery and equipment | 23 | - | €4,139 | +€4,139 | |
| Current assets | 29/58 | €52,533 | €156,360 | +€103,827 | +197.6% |
| Amounts receivable within one year | 40/41 | €40,900 | €139,014 | +€98,114 | +239.9% |
| Trade receivables | 40 | €37,164 | €136,385 | +€99,220 | +267.0% |
| Other amounts receivable | 41 | €3,736 | €2,629 | -€1,107 | -29.6% |
| Cash at bank and in hand | 54/58 | €11,633 | €17,347 | +€5,714 | +49.1% |
| Total equity and liabilities | 10/49 | €52,533 | €160,499 | +€107,966 | +205.5% |
| Equity | 10/15 | €15,534 | €56,544 | +€41,010 | +264.0% |
| Contributions | 10/11 | €3,581 | €3,581 | = | 0.0% |
| Reserves | 13 | - | €41,000 | +€41,000 | |
| Distributable reserves | 133 | - | €41,000 | +€41,000 | |
| Profit (loss) carried forward | 14 | €11,953 | €11,963 | +€10 | +0.1% |
| Amounts payable | 17/49 | €36,999 | €103,955 | +€66,956 | +181.0% |
| Amounts payable within one year | 42/48 | €36,999 | €103,955 | +€66,956 | +181.0% |
| Trade debts | 44 | €27,233 | €61,203 | +€33,970 | +124.7% |
| Suppliers | 440/4 | €27,233 | €61,203 | +€33,970 | +124.7% |
| Taxes, remuneration and social security | 45 | €3,238 | €36,519 | +€33,281 | +1027.8% |
| Taxes | 450/3 | €3,238 | €36,519 | +€33,281 | +1027.8% |
| Other amounts payable | 47/48 | €6,528 | €6,234 | -€295 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €322 | +€322 | |
| Other operating charges | 640/8 | €58 | €83 | +€25 | +42.8% |
| Gross operating margin | 9900 | €15,304 | €57,061 | +€41,757 | +272.9% |
| Operating profit (loss) | 9901 | €15,246 | €56,657 | +€41,411 | +271.6% |
| Financial income | 75/76B | - | €63 | +€63 | |
| Recurring financial income | 75 | - | €63 | +€63 | |
| Financial charges | 65/66B | €55 | €80 | +€25 | +46.3% |
| Recurring financial charges | 65 | €55 | €80 | +€25 | +46.3% |
| Profit (loss) for the period before taxes | 9903 | €15,191 | €56,640 | +€41,449 | +272.8% |
| Income taxes | 67/77 | €3,238 | €15,630 | +€12,392 | +382.7% |
| Profit (loss) for the period | 9904 | €11,953 | €41,010 | +€29,057 | +243.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,953 | €41,010 | +€29,057 | +243.1% |
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 4 October 2026 via checked.be.