EQUIVALENT: 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.
EQUIVALENT
Largest movements
- Stocks and contracts +€100,000
up €100,000 (+12.5%), from €799,300 to €899,300
- Tangible fixed assets -€33,381
down €33,381 (-24.0%), from €139,069 to €105,688
of which Furniture and vehicles: -€32,981
- Receivables within one year +€10,859
up €10,859 (+518.1%), from €2,096 to €12,955
of which Other amounts receivable: +€5,859
- Reserves +€122,131
up €122,131 (+45.9%), from €266,115 to €388,246
- Short-term financial debts -€70,146
down €70,146 (-71.7%), from €97,864 to €27,717
- Tax, wage and social debts +€30,890
up €30,890 (+24.5%), from €126,128 to €157,018
- Gross operating margin -€183,413
down €183,413 (-39.5%), from €464,547 to €281,135
- Taxes -€55,323
down €55,323 (-51.2%), from €107,959 to €52,636
- Financial charges +€30,210
up €30,210 (+1545.2%), from €1,955 to €32,165
of which Financial charges: +€25,010
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 | €942,835 | €1,025,818 | +€82,983 | +8.8% |
| Fixed assets | 21/28 | €139,069 | €105,688 | -€33,381 | -24.0% |
| Tangible fixed assets | 22/27 | €139,069 | €105,688 | -€33,381 | -24.0% |
| Plant, machinery and equipment | 23 | €1,374 | €974 | -€400 | -29.1% |
| Furniture and vehicles | 24 | €137,695 | €104,714 | -€32,981 | -24.0% |
| Current assets | 29/58 | €803,765 | €920,129 | +€116,364 | +14.5% |
| Stocks and contracts in progress | 3 | €799,300 | €899,300 | +€100,000 | +12.5% |
| Stocks | 30/36 | €799,300 | €899,300 | +€100,000 | +12.5% |
| Amounts receivable within one year | 40/41 | €2,096 | €12,955 | +€10,859 | +518.1% |
| Trade receivables | 40 | - | €5,000 | +€5,000 | |
| Other amounts receivable | 41 | €2,096 | €7,955 | +€5,859 | +279.5% |
| Cash at bank and in hand | 54/58 | - | €5,000 | +€5,000 | |
| Deferred charges and accrued income | 490/1 | €2,369 | €2,874 | +€505 | +21.3% |
| Total equity and liabilities | 10/49 | €942,835 | €1,025,818 | +€82,983 | +8.8% |
| Equity | 10/15 | €291,115 | €413,246 | +€122,131 | +42.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €266,115 | €388,246 | +€122,131 | +45.9% |
| Distributable reserves | 133 | €266,115 | €388,246 | +€122,131 | +45.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €651,720 | €612,572 | -€39,149 | -6.0% |
| Amounts payable within one year | 42/48 | €651,720 | €612,572 | -€39,149 | -6.0% |
| Financial debts | 43 | €97,864 | €27,717 | -€70,146 | -71.7% |
| Credit institutions | 430/8 | €97,864 | €27,717 | -€70,146 | -71.7% |
| Trade debts | 44 | €9,440 | €16,610 | +€7,170 | +75.9% |
| Suppliers | 440/4 | €9,440 | €16,610 | +€7,170 | +75.9% |
| Taxes, remuneration and social security | 45 | €126,128 | €157,018 | +€30,890 | +24.5% |
| Taxes | 450/3 | €126,128 | €157,018 | +€30,890 | +24.5% |
| Other amounts payable | 47/48 | €418,288 | €411,227 | -€7,062 | -1.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,697 | €34,619 | +€2,922 | +9.2% |
| Other operating charges | 640/8 | €11,546 | €7,965 | -€3,581 | -31.0% |
| Non-recurring operating charges | 66A | €31,904 | €17,500 | -€14,404 | -45.1% |
| Gross operating margin | 9900 | €464,547 | €281,135 | -€183,413 | -39.5% |
| Operating profit (loss) | 9901 | €389,400 | €221,051 | -€168,349 | -43.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €1,955 | €32,165 | +€30,210 | +1545.2% |
| Recurring financial charges | 65 | €1,955 | €26,965 | +€25,010 | +1279.2% |
| Non-recurring financial charges | 66B | - | €5,200 | +€5,200 | |
| Profit (loss) for the period before taxes | 9903 | €387,445 | €188,886 | -€198,559 | -51.2% |
| Income taxes | 67/77 | €107,959 | €52,636 | -€55,323 | -51.2% |
| Profit (loss) for the period | 9904 | €279,486 | €136,249 | -€143,236 | -51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €279,486 | €136,249 | -€143,236 | -51.3% |
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 8 October 2026 via checked.be.