End To End: 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.
End To End
Largest movements
- Receivables within one year +€85,155
up €85,155 (+266%), from €31,989 to €117,145
of which Other amounts receivable: +€84,555
- Cash -€33,558
down €33,558 (-81.8%), from €41,008 to €7,451
mainly Contributions, distributions and other (-€98,500) and Receivables within one year (-€85,155)
- Other debts +€59,935
up €59,935 (+217%), from €27,565 to €87,500
- Profit (loss) carried forward -€24,285
down €24,285 (-90.8%), from €26,734 to €2,449
- Tax, wage and social debts +€16,548
up €16,548 (+82.5%), from €20,056 to €36,604
- Gross operating margin +€12,271
up €12,271 (+14.0%), from €87,809 to €100,080
- Taxes +€5,077
up €5,077 (+25.7%), from €19,763 to €24,840
- Financial income +€2,351
new in 2025: €2,351
- Depreciation -€2,221
down €2,221 (-47.0%), from €4,729 to €2,508
- Staff costs -€1,770
no longer reported in 2025 (was €1,770)
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 | €75,775 | €128,042 | +€52,266 | +69.0% |
| Fixed assets | 21/28 | €2,670 | €3,379 | +€710 | +26.6% |
| Tangible fixed assets | 22/27 | €2,670 | €3,379 | +€710 | +26.6% |
| Furniture and vehicles | 24 | €2,670 | €3,379 | +€710 | +26.6% |
| Current assets | 29/58 | €73,106 | €124,662 | +€51,557 | +70.5% |
| Amounts receivable within one year | 40/41 | €31,989 | €117,145 | +€85,155 | +266% |
| Trade receivables | 40 | €29,550 | €30,150 | +€600 | +2.0% |
| Other amounts receivable | 41 | €2,439 | €86,995 | +€84,555 | +3,466% |
| Cash at bank and in hand | 54/58 | €41,008 | €7,451 | -€33,558 | -81.8% |
| Deferred charges and accrued income | 490/1 | €108 | €66 | -€41 | -38.3% |
| Total equity and liabilities | 10/49 | €75,775 | €128,042 | +€52,266 | +69.0% |
| Equity | 10/15 | €27,834 | €3,549 | -€24,285 | -87.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | - | €1,000 | +€1,000 | |
| Issued capital | 100 | - | €1,000 | +€1,000 | |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Legal reserve | 130 | - | €100 | +€100 | |
| Other | 1319 | €100 | - | -€100 | |
| Profit (loss) carried forward | 14 | €26,734 | €2,449 | -€24,285 | -90.8% |
| Amounts payable | 17/49 | €47,942 | €124,493 | +€76,552 | +160% |
| Amounts payable within one year | 42/48 | €47,942 | €124,493 | +€76,552 | +160% |
| Trade debts | 44 | €320 | €389 | +€69 | +21.5% |
| Suppliers | 440/4 | €320 | €389 | +€69 | +21.5% |
| Taxes, remuneration and social security | 45 | €20,056 | €36,604 | +€16,548 | +82.5% |
| Taxes | 450/3 | €20,056 | €36,604 | +€16,548 | +82.5% |
| Other amounts payable | 47/48 | €27,565 | €87,500 | +€59,935 | +217% |
| Remuneration, social security and pensions | 62 | €1,770 | - | -€1,770 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,729 | €2,508 | -€2,221 | -47.0% |
| Other operating charges | 640/8 | €618 | €638 | +€20 | +3.2% |
| Gross operating margin | 9900 | €87,809 | €100,080 | +€12,271 | +14.0% |
| Operating profit (loss) | 9901 | €80,692 | €96,934 | +€16,242 | +20.1% |
| Financial income | 75/76B | - | €2,351 | +€2,351 | |
| Recurring financial income | 75 | - | €2,351 | +€2,351 | |
| Financial charges | 65/66B | €195 | €230 | +€35 | +18.0% |
| Recurring financial charges | 65 | €195 | €230 | +€35 | +18.0% |
| Profit (loss) for the period before taxes | 9903 | €80,497 | €99,055 | +€18,558 | +23.1% |
| Income taxes | 67/77 | €19,763 | €24,840 | +€5,077 | +25.7% |
| Profit (loss) for the period | 9904 | €60,734 | €74,215 | +€13,481 | +22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €60,734 | €74,215 | +€13,481 | +22.2% |
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 19 October 2026 via checked.be.