DYNAMIC LINK: 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.
DYNAMIC LINK
Largest movements
- Tangible fixed assets +€38,078
up €38,078 (+438.9%), from €8,675 to €46,753
of which Furniture and vehicles: +€37,961
- Stocks and contracts +€34,714
up €34,714 (+36.0%), from €96,426 to €131,140
- Cash -€24,404
down €24,404 (-38.9%), from €62,711 to €38,307
mainly Investment in fixed assets (net) (-€46,918) and Stocks and contracts (-€34,714)
- Receivables within one year +€19,581
up €19,581 (+94.6%), from €20,702 to €40,283
- Other debts +€36,414
up €36,414 (+88.8%), from €41,016 to €77,429
- Debts after one year +€19,740
new in 2025: €19,740
- Trade debts +€5,714
up €5,714 (+7.4%), from €77,576 to €83,290
- Current portion of long-term debt +€5,154
new in 2025: €5,154
- Tax, wage and social debts +€4,495
up €4,495 (+61.9%), from €7,257 to €11,752
of which Taxes: +€4,794
- Gross operating margin +€7,523
up €7,523 (+31.8%), from €23,670 to €31,193
- Depreciation +€5,892
up €5,892 (+199.9%), from €2,948 to €8,840
- Staff costs -€3,889
no longer reported in 2025 (was €3,889)
- Taxes +€3,554
up €3,554 (+97.4%), from €3,649 to €7,203
- Financial charges +€3,142
up €3,142 (+237.0%), from €1,326 to €4,467
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 | €202,757 | €270,725 | +€67,969 | +33.5% |
| Fixed assets | 21/28 | €20,236 | €58,314 | +€38,078 | +188.2% |
| Tangible fixed assets | 22/27 | €8,675 | €46,753 | +€38,078 | +438.9% |
| Plant, machinery and equipment | 23 | €8,675 | €8,792 | +€116 | +1.3% |
| Furniture and vehicles | 24 | - | €37,961 | +€37,961 | |
| Financial fixed assets | 28 | €11,561 | €11,561 | = | 0.0% |
| Current assets | 29/58 | €182,520 | €212,411 | +€29,891 | +16.4% |
| Stocks and contracts in progress | 3 | €96,426 | €131,140 | +€34,714 | +36.0% |
| Stocks | 30/36 | €96,426 | €131,140 | +€34,714 | +36.0% |
| Amounts receivable within one year | 40/41 | €20,702 | €40,283 | +€19,581 | +94.6% |
| Trade receivables | 40 | €20,702 | €40,283 | +€19,581 | +94.6% |
| Current investments | 50/53 | €2,682 | €2,682 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €62,711 | €38,307 | -€24,404 | -38.9% |
| Total equity and liabilities | 10/49 | €202,757 | €270,725 | +€67,969 | +33.5% |
| Equity | 10/15 | €76,908 | €73,359 | -€3,549 | -4.6% |
| Contributions | 10/11 | €47,719 | €47,719 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,189 | €25,640 | -€3,549 | -12.2% |
| Amounts payable | 17/49 | €125,848 | €197,366 | +€71,518 | +56.8% |
| Amounts payable after more than one year | 17 | - | €19,740 | +€19,740 | |
| Financial debts | 170/4 | - | €19,740 | +€19,740 | |
| Amounts payable within one year | 42/48 | €125,848 | €177,626 | +€51,778 | +41.1% |
| Current portion of amounts payable after more than one year | 42 | - | €5,154 | +€5,154 | |
| Trade debts | 44 | €77,576 | €83,290 | +€5,714 | +7.4% |
| Suppliers | 440/4 | €77,576 | €83,290 | +€5,714 | +7.4% |
| Taxes, remuneration and social security | 45 | €7,257 | €11,752 | +€4,495 | +61.9% |
| Taxes | 450/3 | €5,232 | €10,026 | +€4,794 | +91.6% |
| Remuneration and social security | 454/9 | €2,025 | €1,726 | -€299 | -14.8% |
| Other amounts payable | 47/48 | €41,016 | €77,429 | +€36,414 | +88.8% |
| Remuneration, social security and pensions | 62 | €3,889 | - | -€3,889 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,948 | €8,840 | +€5,892 | +199.9% |
| Other operating charges | 640/8 | €528 | - | -€528 | |
| Gross operating margin | 9900 | €23,670 | €31,193 | +€7,523 | +31.8% |
| Operating profit (loss) | 9901 | €16,305 | €22,353 | +€6,048 | +37.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -96.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -96.7% |
| Financial charges | 65/66B | €1,326 | €4,467 | +€3,142 | +237.0% |
| Recurring financial charges | 65 | €1,326 | €4,467 | +€3,142 | +237.0% |
| Profit (loss) for the period before taxes | 9903 | €14,979 | €17,885 | +€2,906 | +19.4% |
| Income taxes | 67/77 | €3,649 | €7,203 | +€3,554 | +97.4% |
| Profit (loss) for the period | 9904 | €11,330 | €10,682 | -€648 | -5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,330 | €10,682 | -€648 | -5.7% |
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 28 September 2026 via checked.be.