De btw-lijn: 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.
De btw-lijn
Largest movements
- Cash +€207,497
up €207,497 (+250%), from €83,026 to €290,523
mainly Trade debts (+€256,930) and Net result for the year (+€183,517)
- Receivables within one year +€108,745
up €108,745 (+41.3%), from €263,410 to €372,156
of which Other amounts receivable: +€56,424
- Trade debts +€256,930
up €256,930 (+130%), from €197,190 to €454,120
- Other debts +€58,293
up €58,293 (+38.2%), from €152,448 to €210,741
- Short-term financial debts -€10,000
down €10,000 (-100%), from €10,000 to €0
- Gross operating margin +€73,896
up €73,896 (+47.6%), from €155,099 to €228,996
- Other operating charges +€11,697
up €11,697 (+2,315%), from €505 to €12,203
- Taxes +€7,925
up €7,925 (+42.3%), from €18,726 to €26,651
- Write-downs -€6,110
down €6,110, from €4,555 to -€1,555
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 | €378,280 | €683,521 | +€305,241 | +80.7% |
| Fixed assets | 21/28 | €24,166 | €18,618 | -€5,548 | -23.0% |
| Intangible fixed assets | 21 | €14,115 | €9,730 | -€4,385 | -31.1% |
| Tangible fixed assets | 22/27 | €4,425 | €3,262 | -€1,163 | -26.3% |
| Plant, machinery and equipment | 23 | €4,425 | €3,262 | -€1,163 | -26.3% |
| Financial fixed assets | 28 | €5,626 | €5,626 | = | 0.0% |
| Current assets | 29/58 | €354,115 | €664,904 | +€310,789 | +87.8% |
| Amounts receivable within one year | 40/41 | €263,410 | €372,156 | +€108,745 | +41.3% |
| Trade receivables | 40 | €221,136 | €273,458 | +€52,322 | +23.7% |
| Other amounts receivable | 41 | €42,274 | €98,698 | +€56,424 | +133% |
| Cash at bank and in hand | 54/58 | €83,026 | €290,523 | +€207,497 | +250% |
| Deferred charges and accrued income | 490/1 | €7,678 | €2,225 | -€5,453 | -71.0% |
| Total equity and liabilities | 10/49 | €378,280 | €683,521 | +€305,241 | +80.7% |
| Equity | 10/15 | €18,643 | €18,660 | +€17 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43 | €60 | +€17 | +40.9% |
| Amounts payable | 17/49 | €359,637 | €664,861 | +€305,224 | +84.9% |
| Amounts payable within one year | 42/48 | €359,637 | €664,861 | +€305,224 | +84.9% |
| Financial debts | 43 | €10,000 | €0 | -€10,000 | -100% |
| Credit institutions | 430/8 | €10,000 | €0 | -€10,000 | -100% |
| Trade debts | 44 | €197,190 | €454,120 | +€256,930 | +130% |
| Suppliers | 440/4 | €197,190 | €454,120 | +€256,930 | +130% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €152,448 | €210,741 | +€58,293 | +38.2% |
| Non-recurring operating income | 76A | €766 | €0 | -€766 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,453 | €6,740 | +€1,287 | +23.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,555 | -€1,555 | -€6,110 | |
| Other operating charges | 640/8 | €505 | €12,203 | +€11,697 | +2,315% |
| Gross operating margin | 9900 | €155,099 | €228,996 | +€73,896 | +47.6% |
| Operating profit (loss) | 9901 | €144,586 | €211,608 | +€67,022 | +46.4% |
| Financial income | 75/76B | €732 | €726 | -€6 | -0.8% |
| Recurring financial income | 75 | €732 | €726 | -€6 | -0.8% |
| Financial charges | 65/66B | €578 | €2,166 | +€1,588 | +275% |
| Recurring financial charges | 65 | €578 | €2,166 | +€1,588 | +275% |
| Profit (loss) for the period before taxes | 9903 | €144,741 | €210,168 | +€65,428 | +45.2% |
| Income taxes | 67/77 | €18,726 | €26,651 | +€7,925 | +42.3% |
| Profit (loss) for the period | 9904 | €126,015 | €183,517 | +€57,503 | +45.6% |
| Profit (loss) for the period to be appropriated | 9905 | €126,015 | €183,517 | +€57,503 | +45.6% |
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 27 October 2026 via checked.be.