Demonstrate: 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.
Demonstrate
Largest movements
- Receivables within one year +€683,320
up €683,320 (+41.3%), from €1.7m to €2.3m
of which Trade receivables: +€666,627
- Cash +€105,252
up €105,252 (+438,549%), from €24 to €105,276
mainly Debts after one year (+€1.5m) and Net result for the year (+€678,210)
- Tangible fixed assets +€47,012
up €47,012 (+934%), from €5,031 to €52,043
of which Other tangible fixed assets: +€30,147
- Short-term financial debts -€1.7m
down €1.7m (-78.4%), from €2.2m to €466,594
- Debts after one year +€1.5m
up €1.5m (+271%), from €561,412 to €2.1m
- Profit (loss) carried forward +€678,211
up €678,211 (+17.2%), from -€3.9m to -€3.3m
- Tax, wage and social debts +€430,897
up €430,897 (+295%), from €146,178 to €577,075
of which Taxes: +€218,429
- Trade debts +€367,609
up €367,609 (+20.5%), from €1.8m to €2.2m
- Staff costs +€529,054
up €529,054 (+59.9%), from €883,636 to €1.4m
- Gross operating margin +€293,586
up €293,586 (+15.0%), from €2.0m to €2.2m
- Financial charges -€61,567
down €61,567 (-33.0%), from €186,705 to €125,138
- Other operating charges -€57,125
down €57,125 (-74.4%), from €76,746 to €19,621
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 | €1,684,350 | €2,546,364 | +€862,014 | +51.2% |
| Fixed assets | 21/28 | €26,248 | €82,630 | +€56,382 | +215% |
| Tangible fixed assets | 22/27 | €5,031 | €52,043 | +€47,012 | +934% |
| Plant, machinery and equipment | 23 | €2,373 | €21,896 | +€19,523 | +823% |
| Furniture and vehicles | 24 | €2,658 | €0 | -€2,658 | -100% |
| Other tangible fixed assets | 26 | - | €30,147 | +€30,147 | |
| Financial fixed assets | 28 | €21,217 | €30,587 | +€9,370 | +44.2% |
| Current assets | 29/58 | €1,658,102 | €2,463,734 | +€805,632 | +48.6% |
| Amounts receivable within one year | 40/41 | €1,654,557 | €2,337,877 | +€683,320 | +41.3% |
| Trade receivables | 40 | €796,647 | €1,463,274 | +€666,627 | +83.7% |
| Other amounts receivable | 41 | €857,910 | €874,603 | +€16,693 | +1.9% |
| Cash at bank and in hand | 54/58 | €24 | €105,276 | +€105,252 | +438,549% |
| Deferred charges and accrued income | 490/1 | €3,521 | €20,581 | +€17,060 | +485% |
| Total equity and liabilities | 10/49 | €1,684,350 | €2,546,364 | +€862,014 | +51.2% |
| Equity | 10/15 | -€3,916,579 | -€3,238,368 | +€678,211 | +17.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,947 | €1,947 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €87 | €87 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€3,937,126 | -€3,258,915 | +€678,211 | +17.2% |
| Amounts payable | 17/49 | €5,600,929 | €5,784,732 | +€183,803 | +3.3% |
| Amounts payable after more than one year | 17 | €561,412 | €2,082,618 | +€1.5m | +271% |
| Financial debts | 170/4 | €561,412 | €2,082,618 | +€1.5m | +271% |
| Amounts payable within one year | 42/48 | €4,234,067 | €3,208,286 | -€1.0m | -24.2% |
| Financial debts | 43 | €2,158,596 | €466,594 | -€1.7m | -78.4% |
| Credit institutions | 430/8 | €2,158,596 | €466,594 | -€1.7m | -78.4% |
| Trade debts | 44 | €1,794,016 | €2,161,625 | +€367,609 | +20.5% |
| Suppliers | 440/4 | €1,794,016 | €2,161,625 | +€367,609 | +20.5% |
| Taxes, remuneration and social security | 45 | €146,178 | €577,075 | +€430,897 | +295% |
| Taxes | 450/3 | €115,601 | €334,030 | +€218,429 | +189% |
| Remuneration and social security | 454/9 | €30,577 | €243,045 | +€212,468 | +695% |
| Other amounts payable | 47/48 | €135,277 | €2,992 | -€132,285 | -97.8% |
| Accrued charges and deferred income | 492/3 | €805,450 | €493,827 | -€311,623 | -38.7% |
| Non-recurring operating income | 76A | - | €70,022 | +€70,022 | |
| Remuneration, social security and pensions | 62 | €883,636 | €1,412,690 | +€529,054 | +59.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,844 | €13,674 | +€9,830 | +256% |
| Other operating charges | 640/8 | €76,746 | €19,621 | -€57,125 | -74.4% |
| Non-recurring operating charges | 66A | - | €1,400 | +€1,400 | |
| Gross operating margin | 9900 | €1,953,025 | €2,246,611 | +€293,586 | +15.0% |
| Operating profit (loss) | 9901 | €988,799 | €799,226 | -€189,573 | -19.2% |
| Financial income | 75/76B | - | €4,567 | +€4,567 | |
| Recurring financial income | 75 | - | €4,567 | +€4,567 | |
| Financial charges | 65/66B | €186,705 | €125,138 | -€61,567 | -33.0% |
| Recurring financial charges | 65 | €186,705 | €125,138 | -€61,567 | -33.0% |
| Profit (loss) for the period before taxes | 9903 | €802,094 | €678,655 | -€123,439 | -15.4% |
| Income taxes | 67/77 | €542 | €444 | -€98 | -18.0% |
| Profit (loss) for the period | 9904 | €801,552 | €678,210 | -€123,342 | -15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €801,552 | €678,210 | -€123,342 | -15.4% |
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 13 October 2026 via checked.be.