EFFICIENT BEHAVIOURS: 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.
EFFICIENT BEHAVIOURS
Largest movements
- Current investments +€56,934
new in 2025: €56,934
- Cash +€39,021
up €39,021 (+41.8%), from €93,294 to €132,315
mainly Net result for the year (+€103,063) and Tax, wage and social debts (+€25,767)
- Receivables within one year +€33,130
up €33,130 (+496%), from €6,676 to €39,806
of which Trade receivables: +€33,132
- Tangible fixed assets +€6,571
up €6,571 (+39.5%), from €16,637 to €23,208
- Reserves +€103,063
up €103,063 (+184%), from €56,009 to €159,072
- Tax, wage and social debts +€25,767
up €25,767 (+211%), from €12,232 to €37,999
- Trade debts +€14,908
up €14,908 (+802%), from €1,858 to €16,766
- Debts after one year -€4,022
down €4,022 (-85.6%), from €4,700 to €677
- Current portion of long-term debt -€3,731
down €3,731 (-48.1%), from €7,753 to €4,022
- Gross operating margin +€51,933
up €51,933 (+68.2%), from €76,120 to €128,053
- Taxes +€4,740
up €4,740 (+82.3%), from €5,761 to €10,501
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 | €121,589 | €255,590 | +€134,001 | +110% |
| Fixed assets | 21/28 | €18,870 | €25,440 | +€6,571 | +34.8% |
| Intangible fixed assets | 21 | €1,200 | €1,200 | = | 0.0% |
| Tangible fixed assets | 22/27 | €16,637 | €23,208 | +€6,571 | +39.5% |
| Furniture and vehicles | 24 | €16,637 | €23,208 | +€6,571 | +39.5% |
| Financial fixed assets | 28 | €1,033 | €1,033 | = | 0.0% |
| Current assets | 29/58 | €102,719 | €230,150 | +€127,430 | +124% |
| Amounts receivable within one year | 40/41 | €6,676 | €39,806 | +€33,130 | +496% |
| Trade receivables | 40 | €6,674 | €39,806 | +€33,132 | +496% |
| Other amounts receivable | 41 | €2 | - | -€2 | |
| Current investments | 50/53 | - | €56,934 | +€56,934 | |
| Cash at bank and in hand | 54/58 | €93,294 | €132,315 | +€39,021 | +41.8% |
| Deferred charges and accrued income | 490/1 | €2,750 | €1,094 | -€1,655 | -60.2% |
| Total equity and liabilities | 10/49 | €121,589 | €255,590 | +€134,001 | +110% |
| Equity | 10/15 | €89,528 | €192,591 | +€103,063 | +115% |
| Contributions | 10/11 | €33,435 | €33,435 | = | 0.0% |
| Reserves | 13 | €56,009 | €159,072 | +€103,063 | +184% |
| Distributable reserves | 133 | €56,009 | €159,072 | +€103,063 | +184% |
| Profit (loss) carried forward | 14 | €84 | €84 | = | 0.0% |
| Amounts payable | 17/49 | €32,061 | €62,999 | +€30,938 | +96.5% |
| Amounts payable after more than one year | 17 | €4,700 | €677 | -€4,022 | -85.6% |
| Financial debts | 170/4 | €4,700 | €677 | -€4,022 | -85.6% |
| Amounts payable within one year | 42/48 | €27,362 | €62,322 | +€34,960 | +128% |
| Current portion of amounts payable after more than one year | 42 | €7,753 | €4,022 | -€3,731 | -48.1% |
| Trade debts | 44 | €1,858 | €16,766 | +€14,908 | +802% |
| Suppliers | 440/4 | €1,858 | €16,766 | +€14,908 | +802% |
| Taxes, remuneration and social security | 45 | €12,232 | €37,999 | +€25,767 | +211% |
| Taxes | 450/3 | €12,232 | €37,999 | +€25,767 | +211% |
| Other amounts payable | 47/48 | €5,518 | €3,535 | -€1,983 | -35.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,532 | €7,852 | +€320 | +4.2% |
| Other operating charges | 640/8 | €6,296 | €6,344 | +€48 | +0.8% |
| Gross operating margin | 9900 | €76,120 | €128,053 | +€51,933 | +68.2% |
| Operating profit (loss) | 9901 | €62,292 | €113,857 | +€51,565 | +82.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €522 | €294 | -€229 | -43.8% |
| Recurring financial charges | 65 | €522 | €294 | -€229 | -43.8% |
| Profit (loss) for the period before taxes | 9903 | €61,770 | €113,563 | +€51,793 | +83.8% |
| Income taxes | 67/77 | €5,761 | €10,501 | +€4,740 | +82.3% |
| Profit (loss) for the period | 9904 | €56,009 | €103,063 | +€47,054 | +84.0% |
| Profit (loss) for the period to be appropriated | 9905 | €56,009 | €103,063 | +€47,054 | +84.0% |
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.