De Facto: 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 Facto
Largest movements
- Cash +€944,042
up €944,042 (+1903.3%), from €49,601 to €993,643
mainly Net result for the year (+€550,197) and Trade debts (+€474,077)
- Receivables within one year +€242,165
up €242,165 (+74.7%), from €324,291 to €566,456
of which Other amounts receivable: +€242,606
- Tangible fixed assets -€106,750
down €106,750 (-55.9%), from €190,872 to €84,122
of which Land and buildings: -€187,088
- Stocks and contracts -€61,669
down €61,669 (-100.0%), from €61,669 to €0
- Trade debts +€474,077
up €474,077 (+17339.3%), from €2,734 to €476,811
- Reserves +€429,668
up €429,668 (+177.4%), from €242,221 to €671,890
of which Distributable reserves: +€429,668
- Short-term financial debts +€169,914
up €169,914 (+564.8%), from €30,086 to €200,000
- Debts after one year -€83,970
down €83,970 (-89.9%), from €93,439 to €9,469
- Tax, wage and social debts +€36,407
up €36,407 (+117.5%), from €30,996 to €67,404
- Gross operating margin +€672,558
up €672,558 (+496.5%), from €135,473 to €808,031
- Taxes +€222,817
up €222,817 (+891.1%), from €25,005 to €247,822
- Depreciation -€22,246
down €22,246 (-89.4%), from €24,892 to €2,647
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 | €626,433 | €1,644,221 | +€1.0m | +162.5% |
| Fixed assets | 21/28 | €190,872 | €84,122 | -€106,750 | -55.9% |
| Tangible fixed assets | 22/27 | €190,872 | €84,122 | -€106,750 | -55.9% |
| Land and buildings | 22 | €187,088 | €0 | -€187,088 | -100.0% |
| Furniture and vehicles | 24 | €3,784 | €3,384 | -€399 | -10.6% |
| Other tangible fixed assets | 26 | - | €80,737 | +€80,737 | |
| Current assets | 29/58 | €435,561 | €1,560,099 | +€1.1m | +258.2% |
| Stocks and contracts in progress | 3 | €61,669 | €0 | -€61,669 | -100.0% |
| Stocks | 30/36 | €61,669 | €0 | -€61,669 | -100.0% |
| Amounts receivable within one year | 40/41 | €324,291 | €566,456 | +€242,165 | +74.7% |
| Trade receivables | 40 | €172,745 | €172,304 | -€441 | -0.3% |
| Other amounts receivable | 41 | €151,546 | €394,152 | +€242,606 | +160.1% |
| Cash at bank and in hand | 54/58 | €49,601 | €993,643 | +€944,042 | +1903.3% |
| Total equity and liabilities | 10/49 | €626,433 | €1,644,221 | +€1.0m | +162.5% |
| Equity | 10/15 | €260,813 | €690,482 | +€429,668 | +164.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €242,221 | €671,890 | +€429,668 | +177.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €242,221 | €671,890 | +€429,668 | +177.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €365,619 | €953,739 | +€588,120 | +160.9% |
| Amounts payable after more than one year | 17 | €93,439 | €9,469 | -€83,970 | -89.9% |
| Financial debts | 170/4 | €93,439 | €9,469 | -€83,970 | -89.9% |
| Amounts payable within one year | 42/48 | €272,180 | €944,270 | +€672,090 | +246.9% |
| Current portion of amounts payable after more than one year | 42 | €10,600 | €2,292 | -€8,308 | -78.4% |
| Financial debts | 43 | €30,086 | €200,000 | +€169,914 | +564.8% |
| Credit institutions | 430/8 | €30,086 | €200,000 | +€169,914 | +564.8% |
| Trade debts | 44 | €2,734 | €476,811 | +€474,077 | +17339.3% |
| Suppliers | 440/4 | €2,734 | €476,811 | +€474,077 | +17339.3% |
| Taxes, remuneration and social security | 45 | €30,996 | €67,404 | +€36,407 | +117.5% |
| Taxes | 450/3 | €30,996 | €67,404 | +€36,407 | +117.5% |
| Other amounts payable | 47/48 | €197,763 | €197,763 | = | 0.0% |
| Non-recurring operating income | 76A | - | €1,003,019 | +€1.0m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,892 | €2,647 | -€22,246 | -89.4% |
| Other operating charges | 640/8 | €1,936 | €1,992 | +€57 | +2.9% |
| Gross operating margin | 9900 | €135,473 | €808,031 | +€672,558 | +496.5% |
| Operating profit (loss) | 9901 | €108,645 | €803,392 | +€694,747 | +639.5% |
| Financial income | 75/76B | €1,519 | €605 | -€914 | -60.2% |
| Recurring financial income | 75 | €1,519 | €605 | -€914 | -60.2% |
| Financial charges | 65/66B | €6,492 | €5,978 | -€514 | -7.9% |
| Recurring financial charges | 65 | €6,492 | €5,978 | -€514 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €103,672 | €798,019 | +€694,348 | +669.8% |
| Income taxes | 67/77 | €25,005 | €247,822 | +€222,817 | +891.1% |
| Profit (loss) for the period | 9904 | €78,667 | €550,197 | +€471,531 | +599.4% |
| Profit (loss) for the period to be appropriated | 9905 | €78,667 | €550,197 | +€471,531 | +599.4% |
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 10 October 2026 via checked.be.