DAVID HANTSON: 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.
DAVID HANTSON
Largest movements
- Cash +€40,459
up €40,459 (+137%), from €29,430 to €69,889
mainly Net result for the year (+€47,771) and Depreciation (+€3,656)
- Profit (loss) carried forward +€47,771
up €47,771 (+57.7%), from €82,780 to €130,551
- Other debts -€8,796
down €8,796 (-1.8%), from €483,501 to €474,706
- Gross operating margin +€22,393
up €22,393 (+60.2%), from €37,211 to €59,604
- Depreciation -€7,278
down €7,278 (-66.6%), from €10,934 to €3,656
- Taxes -€2,710
down €2,710 (-26.1%), from €10,377 to €7,667
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 | €586,362 | €624,261 | +€37,899 | +6.5% |
| Fixed assets | 21/28 | €556,932 | €554,372 | -€2,561 | -0.5% |
| Tangible fixed assets | 22/27 | €6,932 | €4,372 | -€2,561 | -36.9% |
| Plant, machinery and equipment | 23 | €965 | €1,803 | +€839 | +87.0% |
| Furniture and vehicles | 24 | €3,967 | €2,300 | -€1,667 | -42.0% |
| Other tangible fixed assets | 26 | €2,001 | €269 | -€1,733 | -86.6% |
| Financial fixed assets | 28 | €550,000 | €550,000 | = | 0.0% |
| Current assets | 29/58 | €29,430 | €69,889 | +€40,459 | +137% |
| Cash at bank and in hand | 54/58 | €29,430 | €69,889 | +€40,459 | +137% |
| Total equity and liabilities | 10/49 | €586,362 | €624,261 | +€37,899 | +6.5% |
| Equity | 10/15 | €97,040 | €144,811 | +€47,771 | +49.2% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,780 | €130,551 | +€47,771 | +57.7% |
| Amounts payable | 17/49 | €489,323 | €479,450 | -€9,873 | -2.0% |
| Amounts payable within one year | 42/48 | €489,323 | €479,450 | -€9,873 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €704 | - | -€704 | |
| Trade debts | 44 | €5,117 | €4,744 | -€373 | -7.3% |
| Suppliers | 440/4 | €5,117 | €4,744 | -€373 | -7.3% |
| Other amounts payable | 47/48 | €483,501 | €474,706 | -€8,796 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,934 | €3,656 | -€7,278 | -66.6% |
| Other operating charges | 640/8 | €209 | €359 | +€150 | +71.8% |
| Gross operating margin | 9900 | €37,211 | €59,604 | +€22,393 | +60.2% |
| Operating profit (loss) | 9901 | €26,068 | €55,589 | +€29,521 | +113% |
| Financial charges | 65/66B | €426 | €151 | -€275 | -64.6% |
| Recurring financial charges | 65 | €426 | €151 | -€275 | -64.6% |
| Profit (loss) for the period before taxes | 9903 | €25,642 | €55,438 | +€29,796 | +116% |
| Income taxes | 67/77 | €10,377 | €7,667 | -€2,710 | -26.1% |
| Profit (loss) for the period | 9904 | €15,265 | €47,771 | +€32,506 | +213% |
| Profit (loss) for the period to be appropriated | 9905 | €15,265 | €47,771 | +€32,506 | +213% |
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 31 October 2026 via checked.be.