D.EFFECTS: 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.
D.EFFECTS
Largest movements
- Receivables within one year +€41,266
up €41,266 (+495%), from €8,330 to €49,596
of which Trade receivables: +€37,802
- Cash +€5,788
up €5,788 (+27.0%), from €21,426 to €27,214
mainly Net result for the year (+€36,113) and Other debts (+€35,000)
- Tangible fixed assets -€2,041
down €2,041 (-16.1%), from €12,703 to €10,662
of which Other tangible fixed assets: -€3,128
- Other debts +€35,000
new in 2025: €35,000
- Tax, wage and social debts +€8,668
up €8,668, from €0 to €8,668
- Profit (loss) carried forward +€1,113
up €1,113, from -€771 to €342
- Gross operating margin +€60,217
up €60,217 (+979%), from €6,153 to €66,370
- Other operating charges +€14,086
up €14,086 (+1,848%), from €762 to €14,848
- Taxes +€9,163
up €9,163, from €0 to €9,163
- Depreciation +€865
up €865 (+16.2%), from €5,327 to €6,192
- Financial charges -€742
down €742 (-88.8%), from €835 to €94
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 | €42,491 | €87,504 | +€45,013 | +106% |
| Fixed assets | 21/28 | €12,703 | €10,662 | -€2,041 | -16.1% |
| Tangible fixed assets | 22/27 | €12,703 | €10,662 | -€2,041 | -16.1% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €1,262 | €0 | -€1,262 | -100% |
| Furniture and vehicles | 24 | €1,952 | €4,301 | +€2,349 | +120% |
| Other tangible fixed assets | 26 | €9,488 | €6,361 | -€3,128 | -33.0% |
| Current assets | 29/58 | €29,788 | €76,842 | +€47,054 | +158% |
| Amounts receivable within one year | 40/41 | €8,330 | €49,596 | +€41,266 | +495% |
| Trade receivables | 40 | €7,500 | €45,302 | +€37,802 | +504% |
| Other amounts receivable | 41 | €830 | €4,293 | +€3,463 | +417% |
| Cash at bank and in hand | 54/58 | €21,426 | €27,214 | +€5,788 | +27.0% |
| Deferred charges and accrued income | 490/1 | €32 | €32 | = | 0.0% |
| Total equity and liabilities | 10/49 | €42,491 | €87,504 | +€45,013 | +106% |
| Equity | 10/15 | €34,535 | €35,648 | +€1,113 | +3.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €30,306 | €30,306 | = | 0.0% |
| Distributable reserves | 133 | €30,306 | €30,306 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€771 | €342 | +€1,113 | |
| Amounts payable | 17/49 | €7,956 | €51,856 | +€43,901 | +552% |
| Amounts payable within one year | 42/48 | €664 | €44,387 | +€43,724 | +6,588% |
| Trade debts | 44 | €664 | €719 | +€55 | +8.3% |
| Suppliers | 440/4 | €664 | €719 | +€55 | +8.3% |
| Taxes, remuneration and social security | 45 | €0 | €8,668 | +€8,668 | |
| Taxes | 450/3 | €0 | €8,668 | +€8,668 | |
| Other amounts payable | 47/48 | - | €35,000 | +€35,000 | |
| Accrued charges and deferred income | 492/3 | €7,292 | €7,469 | +€177 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,327 | €6,192 | +€865 | +16.2% |
| Other operating charges | 640/8 | €762 | €14,848 | +€14,086 | +1,848% |
| Gross operating margin | 9900 | €6,153 | €66,370 | +€60,217 | +979% |
| Operating profit (loss) | 9901 | €64 | €45,330 | +€45,266 | +70,540% |
| Financial income | 75/76B | €0 | €39 | +€39 | +19,620% |
| Recurring financial income | 75 | €0 | €39 | +€39 | +19,620% |
| Financial charges | 65/66B | €835 | €94 | -€742 | -88.8% |
| Recurring financial charges | 65 | €835 | €94 | -€742 | -88.8% |
| Profit (loss) for the period before taxes | 9903 | -€771 | €45,276 | +€46,047 | |
| Income taxes | 67/77 | €0 | €9,163 | +€9,163 | |
| Profit (loss) for the period | 9904 | -€771 | €36,113 | +€36,884 | |
| Profit (loss) for the period to be appropriated | 9905 | -€771 | €36,113 | +€36,884 |
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 16 October 2026 via checked.be.