ECONOWEB: 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.
ECONOWEB
Largest movements
- Cash +€43,987
up €43,987 (+19.0%), from €232,093 to €276,080
mainly Net result for the year (+€54,598) and Depreciation (+€21,756)
- Receivables within one year +€13,906
up €13,906 (+41.8%), from €33,286 to €47,192
of which Trade receivables: +€18,709
- Tangible fixed assets -€4,643
down €4,643 (-7.1%), from €65,250 to €60,606
of which Land and buildings: -€6,742
- Reserves +€54,598
up €54,598 (+21.4%), from €254,904 to €309,501
- Current portion of long-term debt -€15,978
no longer reported in 2025 (was €15,978)
- Accrued charges and deferred income +€8,424
up €8,424 (+131.0%), from €6,429 to €14,852
- Trade debts +€7,889
new in 2025: €7,889
- Gross operating margin +€36,575
up €36,575 (+53.7%), from €68,057 to €104,632
- Taxes +€9,844
up €9,844 (+82.9%), from €11,874 to €21,718
- Depreciation +€3,927
up €3,927 (+22.0%), from €17,828 to €21,756
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 | €330,880 | €384,134 | +€53,254 | +16.1% |
| Fixed assets | 21/28 | €65,250 | €60,606 | -€4,643 | -7.1% |
| Tangible fixed assets | 22/27 | €65,250 | €60,606 | -€4,643 | -7.1% |
| Land and buildings | 22 | €22,425 | €15,683 | -€6,742 | -30.1% |
| Plant, machinery and equipment | 23 | €1,675 | €1,096 | -€579 | -34.6% |
| Furniture and vehicles | 24 | €41,149 | €43,827 | +€2,678 | +6.5% |
| Current assets | 29/58 | €265,630 | €323,528 | +€57,898 | +21.8% |
| Amounts receivable within one year | 40/41 | €33,286 | €47,192 | +€13,906 | +41.8% |
| Trade receivables | 40 | €28,483 | €47,192 | +€18,709 | +65.7% |
| Other amounts receivable | 41 | €4,804 | - | -€4,804 | |
| Cash at bank and in hand | 54/58 | €232,093 | €276,080 | +€43,987 | +19.0% |
| Deferred charges and accrued income | 490/1 | €251 | €256 | +€5 | +2.0% |
| Total equity and liabilities | 10/49 | €330,880 | €384,134 | +€53,254 | +16.1% |
| Equity | 10/15 | €302,423 | €357,021 | +€54,598 | +18.1% |
| Contributions | 10/11 | €52,600 | €52,600 | = | 0.0% |
| Reserves | 13 | €254,904 | €309,501 | +€54,598 | +21.4% |
| Distributable reserves | 133 | €254,904 | €309,501 | +€54,598 | +21.4% |
| Profit (loss) carried forward | 14 | -€5,080 | -€5,080 | = | 0.0% |
| Amounts payable | 17/49 | €28,457 | €27,113 | -€1,343 | -4.7% |
| Amounts payable after more than one year | 17 | €6,050 | €2,654 | -€3,396 | -56.1% |
| Financial debts | 170/4 | €6,050 | - | -€6,050 | |
| Other amounts payable | 178/9 | - | €2,654 | +€2,654 | |
| Amounts payable within one year | 42/48 | €15,978 | €9,607 | -€6,371 | -39.9% |
| Current portion of amounts payable after more than one year | 42 | €15,978 | - | -€15,978 | |
| Trade debts | 44 | - | €7,889 | +€7,889 | |
| Suppliers | 440/4 | - | €7,889 | +€7,889 | |
| Taxes, remuneration and social security | 45 | - | €1,718 | +€1,718 | |
| Taxes | 450/3 | - | €1,718 | +€1,718 | |
| Accrued charges and deferred income | 492/3 | €6,429 | €14,852 | +€8,424 | +131.0% |
| Remuneration, social security and pensions | 62 | €3,439 | €3,280 | -€159 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,828 | €21,756 | +€3,927 | +22.0% |
| Other operating charges | 640/8 | €1,217 | €463 | -€754 | -61.9% |
| Gross operating margin | 9900 | €68,057 | €104,632 | +€36,575 | +53.7% |
| Operating profit (loss) | 9901 | €45,572 | €79,132 | +€33,560 | +73.6% |
| Financial income | 75/76B | €137 | €390 | +€253 | +184.0% |
| Recurring financial income | 75 | €137 | €390 | +€253 | +184.0% |
| Financial charges | 65/66B | €2,796 | €3,207 | +€411 | +14.7% |
| Recurring financial charges | 65 | €2,796 | €3,207 | +€411 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | €42,914 | €76,316 | +€33,402 | +77.8% |
| Income taxes | 67/77 | €11,874 | €21,718 | +€9,844 | +82.9% |
| Profit (loss) for the period | 9904 | €31,040 | €54,598 | +€23,558 | +75.9% |
| Profit (loss) for the period to be appropriated | 9905 | €31,040 | €54,598 | +€23,558 | +75.9% |
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.