CREATING DIGITAL VALUE: 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.
CREATING DIGITAL VALUE
Largest movements
- Current investments +€451,688
up €451,688 (+150.7%), from €299,711 to €751,399
- Cash -€66,305
down €66,305 (-41.1%), from €161,311 to €95,006
mainly Current investments (-€451,688) and Tax, wage and social debts (-€20,497)
- Receivables within one year -€24,552
down €24,552 (-27.7%), from €88,702 to €64,150
of which Trade receivables: -€24,521
- Reserves +€371,312
up €371,312 (+95.3%), from €389,620 to €760,932
- Tax, wage and social debts -€20,497
down €20,497 (-10.9%), from €188,817 to €168,319
- Gross operating margin +€257,803
up €257,803 (+80.7%), from €319,345 to €577,149
- Taxes +€81,504
up €81,504 (+85.5%), from €95,340 to €176,844
- Financial charges +€6,720
up €6,720 (+786.8%), from €854 to €7,574
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 | €589,913 | €941,871 | +€351,958 | +59.7% |
| Fixed assets | 21/28 | €37,964 | €29,996 | -€7,969 | -21.0% |
| Tangible fixed assets | 22/27 | €37,064 | €29,096 | -€7,969 | -21.5% |
| Furniture and vehicles | 24 | €37,064 | €29,096 | -€7,969 | -21.5% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €551,948 | €911,875 | +€359,926 | +65.2% |
| Amounts receivable within one year | 40/41 | €88,702 | €64,150 | -€24,552 | -27.7% |
| Trade receivables | 40 | €88,671 | €64,150 | -€24,521 | -27.7% |
| Other amounts receivable | 41 | €31 | €0 | -€31 | -100.0% |
| Current investments | 50/53 | €299,711 | €751,399 | +€451,688 | +150.7% |
| Cash at bank and in hand | 54/58 | €161,311 | €95,006 | -€66,305 | -41.1% |
| Deferred charges and accrued income | 490/1 | €2,225 | €1,320 | -€905 | -40.7% |
| Total equity and liabilities | 10/49 | €589,913 | €941,871 | +€351,958 | +59.7% |
| Equity | 10/15 | €399,620 | €770,932 | +€371,312 | +92.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €389,620 | €760,932 | +€371,312 | +95.3% |
| Distributable reserves | 133 | €389,620 | €760,932 | +€371,312 | +95.3% |
| Amounts payable | 17/49 | €190,292 | €170,938 | -€19,354 | -10.2% |
| Amounts payable within one year | 42/48 | €190,292 | €170,938 | -€19,354 | -10.2% |
| Trade debts | 44 | €20 | €1,169 | +€1,149 | +5849.3% |
| Suppliers | 440/4 | €20 | €1,169 | +€1,149 | +5849.3% |
| Taxes, remuneration and social security | 45 | €188,817 | €168,319 | -€20,497 | -10.9% |
| Taxes | 450/3 | €188,817 | €168,319 | -€20,497 | -10.9% |
| Other amounts payable | 47/48 | €1,456 | €1,450 | -€6 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,686 | €19,573 | +€2,887 | +17.3% |
| Other operating charges | 640/8 | €2,524 | €1,846 | -€678 | -26.9% |
| Gross operating margin | 9900 | €319,345 | €577,149 | +€257,803 | +80.7% |
| Operating profit (loss) | 9901 | €300,135 | €555,730 | +€255,595 | +85.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €854 | €7,574 | +€6,720 | +786.8% |
| Recurring financial charges | 65 | €854 | €7,574 | +€6,720 | +786.8% |
| Profit (loss) for the period before taxes | 9903 | €299,281 | €548,156 | +€248,875 | +83.2% |
| Income taxes | 67/77 | €95,340 | €176,844 | +€81,504 | +85.5% |
| Profit (loss) for the period | 9904 | €203,942 | €371,312 | +€167,370 | +82.1% |
| Profit (loss) for the period to be appropriated | 9905 | €203,942 | €371,312 | +€167,370 | +82.1% |
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 5 October 2026 via checked.be.