DOUBLE V: what changed
Two fiscal 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.
DOUBLE V
Largest movements
- Receivables within one year -€59,934
down €59,934 (-67.5%), from €88,837 to €28,903
of which Other amounts receivable: -€63,618
- Cash +€51,181
up €51,181 (+57.9%), from €88,433 to €139,614
mainly Net result for the year (+€124,210) and Receivables within one year (+€59,934)
- Tangible fixed assets +€44,040
up €44,040 (+278.0%), from €15,839 to €59,880
of which Leasing and similar rights: +€47,469
- Other debts +€45,000
up €45,000 (+45.0%), from €100,000 to €145,000
- Debts after one year +€41,353
up €41,353, from €0 to €41,353
- Current portion of long-term debt -€22,781
down €22,781 (-65.7%), from €34,658 to €11,876
- Profit (loss) carried forward -€20,790
down €20,790 (-96.8%), from €21,488 to €698
- Tax, wage and social debts -€5,761
down €5,761 (-22.2%), from €25,966 to €20,204
of which Taxes: -€5,761
- Staff costs -€19,204
down €19,204 (-100.0%), from €19,204 to €0
- Gross operating margin +€5,663
up €5,663 (+3.3%), from €173,510 to €179,172
- Depreciation -€4,836
down €4,836 (-40.3%), from €11,999 to €7,164
- Other operating charges +€4,601
up €4,601 (+313.0%), from €1,470 to €6,071
- Taxes +€3,008
up €3,008 (+7.7%), from €39,167 to €42,175
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 | €194,681 | €231,633 | +€36,951 | +19.0% |
| Fixed assets | 21/28 | €15,839 | €59,880 | +€44,040 | +278.0% |
| Tangible fixed assets | 22/27 | €15,839 | €59,880 | +€44,040 | +278.0% |
| Plant, machinery and equipment | 23 | €1,865 | €1,245 | -€620 | -33.2% |
| Furniture and vehicles | 24 | €9,156 | €6,348 | -€2,809 | -30.7% |
| Leasing and similar rights | 25 | €4,818 | €52,287 | +€47,469 | +985.3% |
| Current assets | 29/58 | €178,842 | €171,753 | -€7,089 | -4.0% |
| Amounts receivable within one year | 40/41 | €88,837 | €28,903 | -€59,934 | -67.5% |
| Trade receivables | 40 | €20,274 | €23,958 | +€3,684 | +18.2% |
| Other amounts receivable | 41 | €68,562 | €4,945 | -€63,618 | -92.8% |
| Cash at bank and in hand | 54/58 | €88,433 | €139,614 | +€51,181 | +57.9% |
| Deferred charges and accrued income | 490/1 | €1,572 | €3,236 | +€1,664 | +105.8% |
| Total equity and liabilities | 10/49 | €194,681 | €231,633 | +€36,951 | +19.0% |
| Equity | 10/15 | €31,488 | €10,698 | -€20,790 | -66.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,488 | €698 | -€20,790 | -96.8% |
| Amounts payable | 17/49 | €163,193 | €220,935 | +€57,742 | +35.4% |
| Amounts payable after more than one year | 17 | €0 | €41,353 | +€41,353 | |
| Financial debts | 170/4 | €0 | €41,353 | +€41,353 | |
| Amounts payable within one year | 42/48 | €163,193 | €179,582 | +€16,389 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €34,658 | €11,876 | -€22,781 | -65.7% |
| Trade debts | 44 | €2,570 | €2,502 | -€69 | -2.7% |
| Suppliers | 440/4 | €2,570 | €2,502 | -€69 | -2.7% |
| Taxes, remuneration and social security | 45 | €25,966 | €20,204 | -€5,761 | -22.2% |
| Taxes | 450/3 | €25,966 | €20,204 | -€5,761 | -22.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €100,000 | €145,000 | +€45,000 | +45.0% |
| Remuneration, social security and pensions | 62 | €19,204 | €0 | -€19,204 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,999 | €7,164 | -€4,836 | -40.3% |
| Other operating charges | 640/8 | €1,470 | €6,071 | +€4,601 | +313.0% |
| Gross operating margin | 9900 | €173,510 | €179,172 | +€5,663 | +3.3% |
| Operating profit (loss) | 9901 | €140,836 | €165,938 | +€25,102 | +17.8% |
| Financial income | 75/76B | €1,498 | €1,776 | +€278 | +18.5% |
| Recurring financial income | 75 | €1,498 | €1,776 | +€278 | +18.5% |
| Financial charges | 65/66B | €646 | €1,330 | +€683 | +105.7% |
| Recurring financial charges | 65 | €646 | €1,330 | +€683 | +105.7% |
| Profit (loss) for the period before taxes | 9903 | €141,688 | €166,384 | +€24,697 | +17.4% |
| Income taxes | 67/77 | €39,167 | €42,175 | +€3,008 | +7.7% |
| Profit (loss) for the period | 9904 | €102,521 | €124,210 | +€21,689 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €102,521 | €124,210 | +€21,689 | +21.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.