DEAL: 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.
DEAL
Largest movements
- Cash +€106,141
up €106,141 (+631%), from €16,829 to €122,971
mainly Other debts (+€284,761) and Receivables within one year (+€81,298)
- Receivables within one year -€81,298
down €81,298 (-57.5%), from €141,298 to €60,000
of which Other amounts receivable: -€139,720
- Tangible fixed assets +€77,200
up €77,200 (+133%), from €58,128 to €135,328
of which Furniture and vehicles: +€96,636
- Current investments +€18,347
up €18,347 (+289%), from €6,347 to €24,693
- Other debts +€284,761
up €284,761, from €0 to €284,761
- Profit (loss) carried forward -€75,471
down €75,471 (-100%), from €75,471 to €0
- Tax, wage and social debts -€37,236
down €37,236 (-52.6%), from €70,842 to €33,606
- Debts after one year -€25,328
down €25,328 (-100%), from €25,328 to €0
- Trade debts -€12,333
down €12,333 (-61.7%), from €19,999 to €7,666
- Gross operating margin +€9,021
up €9,021 (+11.4%), from €79,187 to €88,207
- Financial income -€8,365
down €8,365 (-97.0%), from €8,624 to €259
- Financial charges +€6,919
up €6,919 (+169%), from €4,095 to €11,014
- Depreciation +€5,877
up €5,877 (+16.8%), from €34,923 to €40,800
- Taxes -€4,729
down €4,729 (-35.5%), from €13,304 to €8,575
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 | €225,218 | €345,865 | +€120,648 | +53.6% |
| Fixed assets | 21/28 | €58,128 | €135,328 | +€77,200 | +133% |
| Tangible fixed assets | 22/27 | €58,128 | €135,328 | +€77,200 | +133% |
| Plant, machinery and equipment | 23 | €1,095 | €265 | -€831 | -75.8% |
| Furniture and vehicles | 24 | €19,946 | €116,582 | +€96,636 | +484% |
| Leasing and similar rights | 25 | €37,087 | €18,482 | -€18,605 | -50.2% |
| Current assets | 29/58 | €167,090 | €210,537 | +€43,448 | +26.0% |
| Amounts receivable within one year | 40/41 | €141,298 | €60,000 | -€81,298 | -57.5% |
| Trade receivables | 40 | €1,578 | €60,000 | +€58,422 | +3,701% |
| Other amounts receivable | 41 | €139,720 | €0 | -€139,720 | -100% |
| Current investments | 50/53 | €6,347 | €24,693 | +€18,347 | +289% |
| Cash at bank and in hand | 54/58 | €16,829 | €122,971 | +€106,141 | +631% |
| Deferred charges and accrued income | 490/1 | €2,615 | €2,873 | +€258 | +9.9% |
| Total equity and liabilities | 10/49 | €225,218 | €345,865 | +€120,648 | +53.6% |
| Equity | 10/15 | €80,471 | €5,000 | -€75,471 | -93.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,471 | €0 | -€75,471 | -100% |
| Amounts payable | 17/49 | €144,747 | €340,865 | +€196,118 | +135% |
| Amounts payable after more than one year | 17 | €25,328 | €0 | -€25,328 | -100% |
| Financial debts | 170/4 | €25,328 | €0 | -€25,328 | -100% |
| Amounts payable within one year | 42/48 | €116,984 | €340,865 | +€223,881 | +191% |
| Current portion of amounts payable after more than one year | 42 | €26,031 | €14,833 | -€11,198 | -43.0% |
| Financial debts | 43 | €112 | €0 | -€112 | -100% |
| Credit institutions | 430/8 | €112 | €0 | -€112 | -100% |
| Trade debts | 44 | €19,999 | €7,666 | -€12,333 | -61.7% |
| Suppliers | 440/4 | €19,999 | €7,666 | -€12,333 | -61.7% |
| Taxes, remuneration and social security | 45 | €70,842 | €33,606 | -€37,236 | -52.6% |
| Taxes | 450/3 | €70,842 | €33,606 | -€37,236 | -52.6% |
| Other amounts payable | 47/48 | €0 | €284,761 | +€284,761 | |
| Accrued charges and deferred income | 492/3 | €2,435 | €0 | -€2,435 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,923 | €40,800 | +€5,877 | +16.8% |
| Other operating charges | 640/8 | €6,357 | €2,967 | -€3,390 | -53.3% |
| Gross operating margin | 9900 | €79,187 | €88,207 | +€9,021 | +11.4% |
| Operating profit (loss) | 9901 | €37,906 | €44,441 | +€6,534 | +17.2% |
| Financial income | 75/76B | €8,624 | €259 | -€8,365 | -97.0% |
| Recurring financial income | 75 | €8,624 | €259 | -€8,365 | -97.0% |
| Financial charges | 65/66B | €4,095 | €11,014 | +€6,919 | +169% |
| Recurring financial charges | 65 | €4,095 | €11,014 | +€6,919 | +169% |
| Profit (loss) for the period before taxes | 9903 | €42,435 | €33,686 | -€8,749 | -20.6% |
| Income taxes | 67/77 | €13,304 | €8,575 | -€4,729 | -35.5% |
| Profit (loss) for the period | 9904 | €29,131 | €25,111 | -€4,020 | -13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,131 | €25,111 | -€4,020 | -13.8% |
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 13 October 2026 via checked.be.