ESG: 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.
ESG
Largest movements
- Cash +€10,166
up €10,166 (+17.1%), from €59,505 to €69,671
mainly Trade debts (+€7,348) and Other debts (+€3,646)
- Tangible fixed assets -€2,736
down €2,736 (-2.4%), from €113,111 to €110,375
- Trade debts +€7,348
up €7,348 (+10560.7%), from €70 to €7,418
- Other debts +€3,646
up €3,646 (+5.0%), from €73,577 to €77,223
- Profit (loss) carried forward -€3,285
down €3,285 (-10.7%), from €30,681 to €27,395
- Gross operating margin -€7,357
down €7,357 (-46.5%), from €15,838 to €8,481
- Depreciation -€2,690
down €2,690 (-49.6%), from €5,426 to €2,736
- Taxes -€804
down €804, from €500 to -€304
- Financial charges -€367
down €367 (-6.5%), from €5,632 to €5,265
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 | €174,703 | €181,799 | +€7,096 | +4.1% |
| Fixed assets | 21/28 | €113,111 | €110,375 | -€2,736 | -2.4% |
| Tangible fixed assets | 22/27 | €113,111 | €110,375 | -€2,736 | -2.4% |
| Land and buildings | 22 | €113,111 | €110,375 | -€2,736 | -2.4% |
| Current assets | 29/58 | €61,592 | €71,424 | +€9,832 | +16.0% |
| Cash at bank and in hand | 54/58 | €59,505 | €69,671 | +€10,166 | +17.1% |
| Deferred charges and accrued income | 490/1 | €2,087 | €1,754 | -€334 | -16.0% |
| Total equity and liabilities | 10/49 | €174,703 | €181,799 | +€7,096 | +4.1% |
| Equity | 10/15 | €98,881 | €95,595 | -€3,285 | -3.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,681 | €27,395 | -€3,285 | -10.7% |
| Amounts payable | 17/49 | €75,822 | €86,204 | +€10,381 | +13.7% |
| Amounts payable within one year | 42/48 | €75,822 | €86,204 | +€10,381 | +13.7% |
| Trade debts | 44 | €70 | €7,418 | +€7,348 | +10560.7% |
| Suppliers | 440/4 | €70 | €7,418 | +€7,348 | +10560.7% |
| Taxes, remuneration and social security | 45 | €2,176 | €1,563 | -€613 | -28.2% |
| Taxes | 450/3 | €2,176 | €1,563 | -€613 | -28.2% |
| Other amounts payable | 47/48 | €73,577 | €77,223 | +€3,646 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,426 | €2,736 | -€2,690 | -49.6% |
| Other operating charges | 640/8 | €3,948 | €4,070 | +€122 | +3.1% |
| Gross operating margin | 9900 | €15,838 | €8,481 | -€7,357 | -46.5% |
| Operating profit (loss) | 9901 | €6,465 | €1,676 | -€4,789 | -74.1% |
| Financial charges | 65/66B | €5,632 | €5,265 | -€367 | -6.5% |
| Recurring financial charges | 65 | €5,632 | €5,265 | -€367 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €833 | -€3,590 | -€4,422 | |
| Income taxes | 67/77 | €500 | -€304 | -€804 | |
| Profit (loss) for the period | 9904 | €333 | -€3,285 | -€3,618 | |
| Profit (loss) for the period to be appropriated | 9905 | €333 | -€3,285 | -€3,618 |
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.