EMBRACING SERENDIPITY: 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.
EMBRACING SERENDIPITY
Largest movements
- Cash +€20,497
up €20,497 (+23.4%), from €87,775 to €108,272
mainly Net result for the year (+€84,255) and Tax, wage and social debts (+€7,819)
- Receivables within one year -€4,376
down €4,376 (-15.8%), from €27,773 to €23,398
of which Other amounts receivable: -€4,684
- Deferred charges and accrued income +€2,512
up €2,512 (+39.3%), from €6,389 to €8,901
- Tax, wage and social debts +€7,819
up €7,819 (+55.8%), from €14,017 to €21,835
- Other debts +€7,710
up €7,710 (+8.7%), from €89,087 to €96,797
- Trade debts +€1,587
up €1,587 (+232%), from €686 to €2,273
- Gross operating margin +€3,558
up €3,558 (+3.1%), from €115,618 to €119,176
- Financial charges +€1,795
up €1,795 (+68.1%), from €2,638 to €4,433
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 | €131,984 | €149,712 | +€17,728 | +13.4% |
| Fixed assets | 21/28 | €5,047 | €4,141 | -€906 | -18.0% |
| Intangible fixed assets | 21 | €75 | €0 | -€75 | -100% |
| Tangible fixed assets | 22/27 | €3,972 | €3,141 | -€832 | -20.9% |
| Furniture and vehicles | 24 | €3,972 | €3,141 | -€832 | -20.9% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €126,937 | €145,571 | +€18,634 | +14.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €27,773 | €23,398 | -€4,376 | -15.8% |
| Trade receivables | 40 | €22,869 | €23,178 | +€309 | +1.3% |
| Other amounts receivable | 41 | €4,904 | €220 | -€4,684 | -95.5% |
| Current investments | 50/53 | €5,000 | €5,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €87,775 | €108,272 | +€20,497 | +23.4% |
| Deferred charges and accrued income | 490/1 | €6,389 | €8,901 | +€2,512 | +39.3% |
| Total equity and liabilities | 10/49 | €131,984 | €149,712 | +€17,728 | +13.4% |
| Equity | 10/15 | €27,650 | €27,650 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,050 | €9,050 | = | 0.0% |
| Distributable reserves | 133 | €9,050 | €9,050 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €104,335 | €122,062 | +€17,728 | +17.0% |
| Amounts payable within one year | 42/48 | €103,789 | €120,905 | +€17,116 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €686 | €2,273 | +€1,587 | +232% |
| Suppliers | 440/4 | €686 | €2,273 | +€1,587 | +232% |
| Taxes, remuneration and social security | 45 | €14,017 | €21,835 | +€7,819 | +55.8% |
| Taxes | 450/3 | €14,017 | €21,835 | +€7,819 | +55.8% |
| Other amounts payable | 47/48 | €89,087 | €96,797 | +€7,710 | +8.7% |
| Accrued charges and deferred income | 492/3 | €546 | €1,158 | +€612 | +112% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,216 | €2,402 | +€187 | +8.4% |
| Other operating charges | 640/8 | €1,360 | €1,556 | +€196 | +14.4% |
| Gross operating margin | 9900 | €115,618 | €119,176 | +€3,558 | +3.1% |
| Operating profit (loss) | 9901 | €112,043 | €115,217 | +€3,175 | +2.8% |
| Financial income | 75/76B | €450 | €250 | -€200 | -44.5% |
| Recurring financial income | 75 | €450 | €250 | -€200 | -44.5% |
| Financial charges | 65/66B | €2,638 | €4,433 | +€1,795 | +68.1% |
| Recurring financial charges | 65 | €2,638 | €4,433 | +€1,795 | +68.1% |
| Profit (loss) for the period before taxes | 9903 | €109,855 | €111,035 | +€1,179 | +1.1% |
| Income taxes | 67/77 | €26,077 | €26,780 | +€703 | +2.7% |
| Profit (loss) for the period | 9904 | €83,779 | €84,255 | +€476 | +0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €83,779 | €84,255 | +€476 | +0.6% |
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 27 October 2026 via checked.be.