Depends: 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.
Depends
Largest movements
- Receivables within one year +€35,458
up €35,458 (+31.5%), from €112,408 to €147,866
of which Trade receivables: +€35,204
- Cash +€34,546
up €34,546 (+173%), from €19,995 to €54,541
mainly Net result for the year (+€44,735) and Trade debts (+€27,143)
- Tangible fixed assets +€6,308
up €6,308 (+390%), from €1,617 to €7,926
- Reserves +€65,809
new in 2025: €65,809
- Trade debts +€27,143
up €27,143 (+72.8%), from €37,278 to €64,421
- Profit (loss) carried forward -€21,074
down €21,074 (-100%), from €21,074 to €0
- Tax, wage and social debts +€18,384
up €18,384 (+42.3%), from €43,465 to €61,849
of which Taxes: +€11,742
- Other debts -€13,945
down €13,945 (-99.6%), from €14,000 to €55
- Gross operating margin +€90,717
up €90,717 (+67.7%), from €134,045 to €224,761
- Staff costs +€66,743
up €66,743 (+70.8%), from €94,327 to €161,070
- Taxes +€8,816
up €8,816 (+111%), from €7,958 to €16,774
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 | €135,817 | €212,134 | +€76,316 | +56.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €2,805 | €9,114 | +€6,308 | +225% |
| Tangible fixed assets | 22/27 | €1,617 | €7,926 | +€6,308 | +390% |
| Furniture and vehicles | 24 | €1,617 | €7,926 | +€6,308 | +390% |
| Financial fixed assets | 28 | €1,188 | €1,188 | = | 0.0% |
| Current assets | 29/58 | €133,012 | €203,020 | +€70,008 | +52.6% |
| Amounts receivable within one year | 40/41 | €112,408 | €147,866 | +€35,458 | +31.5% |
| Trade receivables | 40 | €112,237 | €147,441 | +€35,204 | +31.4% |
| Other amounts receivable | 41 | €172 | €425 | +€254 | +148% |
| Cash at bank and in hand | 54/58 | €19,995 | €54,541 | +€34,546 | +173% |
| Deferred charges and accrued income | 490/1 | €609 | €613 | +€4 | +0.7% |
| Total equity and liabilities | 10/49 | €135,817 | €212,134 | +€76,316 | +56.2% |
| Equity | 10/15 | €41,074 | €85,809 | +€44,735 | +109% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | - | €65,809 | +€65,809 | |
| Distributable reserves | 133 | - | €65,809 | +€65,809 | |
| Profit (loss) carried forward | 14 | €21,074 | €0 | -€21,074 | -100% |
| Amounts payable | 17/49 | €94,743 | €126,325 | +€31,582 | +33.3% |
| Amounts payable within one year | 42/48 | €94,743 | €126,325 | +€31,582 | +33.3% |
| Trade debts | 44 | €37,278 | €64,421 | +€27,143 | +72.8% |
| Suppliers | 440/4 | €37,278 | €64,421 | +€27,143 | +72.8% |
| Taxes, remuneration and social security | 45 | €43,465 | €61,849 | +€18,384 | +42.3% |
| Taxes | 450/3 | €31,103 | €42,845 | +€11,742 | +37.8% |
| Remuneration and social security | 454/9 | €12,362 | €19,004 | +€6,641 | +53.7% |
| Other amounts payable | 47/48 | €14,000 | €55 | -€13,945 | -99.6% |
| Remuneration, social security and pensions | 62 | €94,327 | €161,070 | +€66,743 | +70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,584 | €1,305 | -€279 | -17.6% |
| Other operating charges | 640/8 | €75 | €219 | +€144 | +192% |
| Gross operating margin | 9900 | €134,045 | €224,761 | +€90,717 | +67.7% |
| Operating profit (loss) | 9901 | €38,059 | €62,167 | +€24,109 | +63.3% |
| Financial income | 75/76B | €2 | €105 | +€103 | +6,074% |
| Recurring financial income | 75 | €2 | €105 | +€103 | +6,074% |
| Financial charges | 65/66B | €1,754 | €763 | -€991 | -56.5% |
| Recurring financial charges | 65 | €1,754 | €763 | -€991 | -56.5% |
| Profit (loss) for the period before taxes | 9903 | €36,306 | €61,509 | +€25,203 | +69.4% |
| Income taxes | 67/77 | €7,958 | €16,774 | +€8,816 | +111% |
| Profit (loss) for the period | 9904 | €28,348 | €44,735 | +€16,387 | +57.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,348 | €44,735 | +€16,387 | +57.8% |
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 14 October 2026 via checked.be.