Entity-Project: 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.
Entity-Project
Largest movements
- Tangible fixed assets +€5,895
up €5,895 (+10.8%), from €54,818 to €60,713
of which Furniture and vehicles: +€7,705
- Cash +€3,405
up €3,405 (+2.9%), from €115,759 to €119,164
mainly Other debts (+€72,444) and Net result for the year (+€46,539)
- Receivables within one year +€2,973
up €2,973 (+8.7%), from €34,045 to €37,018
of which Trade receivables: +€2,904
- Other debts +€72,444
up €72,444 (+524.9%), from €13,803 to €86,247
- Profit (loss) carried forward -€55,061
down €55,061 (-100.0%), from €55,061 to €1
- Debts after one year -€3,378
down €3,378 (-12.9%), from €26,162 to €22,784
- Tax, wage and social debts -€2,371
down €2,371 (-14.9%), from €15,937 to €13,566
of which Taxes: -€2,371
- Depreciation +€1,349
up €1,349 (+16.2%), from €8,321 to €9,670
- Gross operating margin +€929
up €929 (+1.3%), from €71,873 to €72,801
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 | €206,850 | €217,504 | +€10,654 | +5.2% |
| Fixed assets | 21/28 | €54,818 | €60,713 | +€5,895 | +10.8% |
| Tangible fixed assets | 22/27 | €54,818 | €60,713 | +€5,895 | +10.8% |
| Land and buildings | 22 | €38,239 | €37,176 | -€1,063 | -2.8% |
| Plant, machinery and equipment | 23 | €2,791 | €2,044 | -€747 | -26.8% |
| Furniture and vehicles | 24 | €13,788 | €21,493 | +€7,705 | +55.9% |
| Current assets | 29/58 | €152,031 | €156,790 | +€4,759 | +3.1% |
| Amounts receivable within one year | 40/41 | €34,045 | €37,018 | +€2,973 | +8.7% |
| Trade receivables | 40 | €31,944 | €34,848 | +€2,904 | +9.1% |
| Other amounts receivable | 41 | €2,101 | €2,170 | +€69 | +3.3% |
| Cash at bank and in hand | 54/58 | €115,759 | €119,164 | +€3,405 | +2.9% |
| Deferred charges and accrued income | 490/1 | €2,227 | €608 | -€1,619 | -72.7% |
| Total equity and liabilities | 10/49 | €206,850 | €217,504 | +€10,654 | +5.2% |
| Equity | 10/15 | €141,561 | €86,501 | -€55,061 | -38.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €83,500 | €83,500 | = | 0.0% |
| Distributable reserves | 133 | €83,500 | €83,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,061 | €1 | -€55,061 | -100.0% |
| Amounts payable | 17/49 | €65,288 | €131,003 | +€65,715 | +100.7% |
| Amounts payable after more than one year | 17 | €26,162 | €22,784 | -€3,378 | -12.9% |
| Financial debts | 170/4 | €26,162 | €22,784 | -€3,378 | -12.9% |
| Amounts payable within one year | 42/48 | €38,760 | €107,640 | +€68,881 | +177.7% |
| Current portion of amounts payable after more than one year | 42 | €3,240 | €3,378 | +€138 | +4.3% |
| Financial debts | 43 | €442 | €19 | -€423 | -95.7% |
| Credit institutions | 430/8 | €442 | €19 | -€423 | -95.7% |
| Trade debts | 44 | €5,339 | €4,430 | -€908 | -17.0% |
| Suppliers | 440/4 | €5,339 | €4,430 | -€908 | -17.0% |
| Taxes, remuneration and social security | 45 | €15,937 | €13,566 | -€2,371 | -14.9% |
| Taxes | 450/3 | €13,437 | €11,066 | -€2,371 | -17.6% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €13,803 | €86,247 | +€72,444 | +524.9% |
| Accrued charges and deferred income | 492/3 | €367 | €579 | +€212 | +57.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,321 | €9,670 | +€1,349 | +16.2% |
| Other operating charges | 640/8 | €979 | €1,434 | +€455 | +46.4% |
| Gross operating margin | 9900 | €71,873 | €72,801 | +€929 | +1.3% |
| Operating profit (loss) | 9901 | €62,572 | €61,697 | -€875 | -1.4% |
| Financial income | 75/76B | €10 | €9 | -€2 | -16.1% |
| Recurring financial income | 75 | €10 | €9 | -€2 | -16.1% |
| Financial charges | 65/66B | €2,340 | €2,536 | +€196 | +8.4% |
| Recurring financial charges | 65 | €2,340 | €2,536 | +€196 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €60,242 | €59,169 | -€1,073 | -1.8% |
| Income taxes | 67/77 | €13,038 | €12,630 | -€408 | -3.1% |
| Profit (loss) for the period | 9904 | €47,204 | €46,539 | -€665 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €47,204 | €46,539 | -€665 | -1.4% |
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 5 October 2026 via checked.be.