EDGEWORKS: 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.
EDGEWORKS
Largest movements
- Tangible fixed assets -€309,284
down €309,284 (-36.3%), from €852,253 to €542,968
- Financial fixed assets +€190,000
up €190,000 (+6.8%), from €2.8m to €3.0m
- Cash +€159,954
up €159,954 (+353.4%), from €45,266 to €205,221
mainly Net result for the year (+€314,108) and Investment in fixed assets (net) (+€92,483)
- Reserves +€174,108
up €174,108 (+13.0%), from €1.3m to €1.5m
of which Distributable reserves: +€174,108
- Debts after one year -€100,000
down €100,000 (-96.4%), from €103,690 to €3,690
- Tax, wage and social debts +€40,166
up €40,166 (+16591.2%), from €242 to €40,408
- Current portion of long-term debt -€38,033
no longer reported in 2025 (was €38,033)
- Gross operating margin +€267,524
up €267,524 (+377.5%), from €70,875 to €338,399
- Financial income -€71,331
down €71,331 (-37.5%), from €190,091 to €118,760
- Financial charges +€47,135
up €47,135 (+84.2%), from €55,995 to €103,130
- Depreciation -€13,158
down €13,158 (-32.9%), from €39,960 to €26,802
- Taxes +€10,230
new in 2025: €10,230
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 | €3,707,465 | €3,764,136 | +€56,670 | +1.5% |
| Fixed assets | 21/28 | €3,650,700 | €3,531,416 | -€119,284 | -3.3% |
| Tangible fixed assets | 22/27 | €852,253 | €542,968 | -€309,284 | -36.3% |
| Land and buildings | 22 | €852,253 | €542,968 | -€309,284 | -36.3% |
| Financial fixed assets | 28 | €2,798,447 | €2,988,447 | +€190,000 | +6.8% |
| Current assets | 29/58 | €56,765 | €232,720 | +€175,955 | +310.0% |
| Amounts receivable within one year | 40/41 | €8,254 | €27,499 | +€19,245 | +233.2% |
| Trade receivables | 40 | €2,226 | €1,619 | -€607 | -27.3% |
| Other amounts receivable | 41 | €6,027 | €25,880 | +€19,853 | +329.4% |
| Cash at bank and in hand | 54/58 | €45,266 | €205,221 | +€159,954 | +353.4% |
| Deferred charges and accrued income | 490/1 | €3,245 | - | -€3,245 | |
| Total equity and liabilities | 10/49 | €3,707,465 | €3,764,136 | +€56,670 | +1.5% |
| Equity | 10/15 | €2,933,141 | €3,107,249 | +€174,108 | +5.9% |
| Contributions | 10/11 | €1,421,608 | €1,421,608 | = | 0.0% |
| Reserves | 13 | €1,342,439 | €1,516,546 | +€174,108 | +13.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €1,340,539 | €1,514,646 | +€174,108 | +13.0% |
| Profit (loss) carried forward | 14 | €169,095 | €169,095 | = | 0.0% |
| Amounts payable | 17/49 | €774,324 | €656,886 | -€117,437 | -15.2% |
| Amounts payable after more than one year | 17 | €103,690 | €3,690 | -€100,000 | -96.4% |
| Other amounts payable | 178/9 | €103,690 | €3,690 | -€100,000 | -96.4% |
| Amounts payable within one year | 42/48 | €670,634 | €652,396 | -€18,237 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €38,033 | - | -€38,033 | |
| Trade debts | 44 | €5,015 | €1,481 | -€3,534 | -70.5% |
| Suppliers | 440/4 | €5,015 | €1,481 | -€3,534 | -70.5% |
| Taxes, remuneration and social security | 45 | €242 | €40,408 | +€40,166 | +16591.2% |
| Taxes | 450/3 | €242 | €40,408 | +€40,166 | +16591.2% |
| Other amounts payable | 47/48 | €627,344 | €610,508 | -€16,836 | -2.7% |
| Accrued charges and deferred income | 492/3 | - | €800 | +€800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,960 | €26,802 | -€13,158 | -32.9% |
| Other operating charges | 640/8 | €3,440 | €2,889 | -€551 | -16.0% |
| Gross operating margin | 9900 | €70,875 | €338,399 | +€267,524 | +377.5% |
| Operating profit (loss) | 9901 | €27,475 | €308,708 | +€281,233 | +1023.6% |
| Financial income | 75/76B | €190,091 | €118,760 | -€71,331 | -37.5% |
| Recurring financial income | 75 | €190,091 | €118,760 | -€71,331 | -37.5% |
| Financial charges | 65/66B | €55,995 | €103,130 | +€47,135 | +84.2% |
| Recurring financial charges | 65 | €55,995 | €103,130 | +€47,135 | +84.2% |
| Profit (loss) for the period before taxes | 9903 | €161,571 | €324,338 | +€162,767 | +100.7% |
| Income taxes | 67/77 | - | €10,230 | +€10,230 | |
| Profit (loss) for the period | 9904 | €161,571 | €314,108 | +€152,536 | +94.4% |
| Profit (loss) for the period to be appropriated | 9905 | €161,571 | €314,108 | +€152,536 | +94.4% |
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 4 October 2026 via checked.be.