ESG Lab: 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 Lab
Largest movements
- Cash +€24,786
up €24,786 (+49.4%), from €50,167 to €74,953
mainly Net result for the year (+€41,779) and Depreciation (+€4,609)
- Receivables within one year +€17,863
up €17,863 (+70.1%), from €25,471 to €43,335
of which Other amounts receivable: +€15,080
- Tangible fixed assets -€4,609
down €4,609 (-54.9%), from €8,393 to €3,784
- Profit (loss) carried forward +€41,779
up €41,779 (+96.7%), from €43,186 to €84,965
- Debts after one year -€4,318
no longer reported in 2025 (was €4,318)
- Tax, wage and social debts -€1,404
down €1,404 (-58.4%), from €2,404 to €1,000
of which Remuneration and social security: -€1,490
- Provisions -€27,771
down €27,771 (-96.4%), from €28,800 to €1,029
- Financial charges +€26,471
up €26,471 (+571.7%), from €4,630 to €31,102
- Gross operating margin -€13,091
down €13,091 (-12.4%), from €105,405 to €92,314
- Taxes -€8,540
down €8,540 (-38.4%), from €22,264 to €13,725
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 | €86,551 | €123,445 | +€36,894 | +42.6% |
| Fixed assets | 21/28 | €8,393 | €3,784 | -€4,609 | -54.9% |
| Tangible fixed assets | 22/27 | €8,393 | €3,784 | -€4,609 | -54.9% |
| Furniture and vehicles | 24 | €8,393 | €3,784 | -€4,609 | -54.9% |
| Current assets | 29/58 | €78,158 | €119,661 | +€41,503 | +53.1% |
| Amounts receivable within one year | 40/41 | €25,471 | €43,335 | +€17,863 | +70.1% |
| Trade receivables | 40 | €9,996 | €12,779 | +€2,783 | +27.8% |
| Other amounts receivable | 41 | €15,476 | €30,556 | +€15,080 | +97.4% |
| Cash at bank and in hand | 54/58 | €50,167 | €74,953 | +€24,786 | +49.4% |
| Deferred charges and accrued income | 490/1 | €2,519 | €1,373 | -€1,146 | -45.5% |
| Total equity and liabilities | 10/49 | €86,551 | €123,445 | +€36,894 | +42.6% |
| Equity | 10/15 | €45,186 | €86,965 | +€41,779 | +92.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,186 | €84,965 | +€41,779 | +96.7% |
| Provisions and deferred taxes | 16 | €28,800 | €29,829 | +€1,029 | +3.6% |
| Provisions for liabilities and charges | 160/5 | €28,800 | €29,829 | +€1,029 | +3.6% |
| Other liabilities and charges | 164/5 | €28,800 | €29,829 | +€1,029 | +3.6% |
| Amounts payable | 17/49 | €12,565 | €6,651 | -€5,915 | -47.1% |
| Amounts payable after more than one year | 17 | €4,318 | - | -€4,318 | |
| Financial debts | 170/4 | €4,318 | - | -€4,318 | |
| Amounts payable within one year | 42/48 | €8,247 | €6,651 | -€1,596 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €4,871 | €4,318 | -€553 | -11.3% |
| Trade debts | 44 | €370 | €1,332 | +€962 | +260.3% |
| Suppliers | 440/4 | €370 | €1,332 | +€962 | +260.3% |
| Taxes, remuneration and social security | 45 | €2,404 | €1,000 | -€1,404 | -58.4% |
| Taxes | 450/3 | €914 | €1,000 | +€86 | +9.4% |
| Remuneration and social security | 454/9 | €1,490 | - | -€1,490 | |
| Other amounts payable | 47/48 | €601 | - | -€601 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,434 | €4,609 | -€825 | -15.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €28,800 | €1,029 | -€27,771 | -96.4% |
| Other operating charges | 640/8 | €232 | €188 | -€44 | -18.9% |
| Gross operating margin | 9900 | €105,405 | €92,314 | -€13,091 | -12.4% |
| Operating profit (loss) | 9901 | €70,939 | €86,487 | +€15,549 | +21.9% |
| Financial income | 75/76B | €1 | €118 | +€117 | +19551.7% |
| Recurring financial income | 75 | €1 | €118 | +€117 | +19551.7% |
| Financial charges | 65/66B | €4,630 | €31,102 | +€26,471 | +571.7% |
| Recurring financial charges | 65 | €4,630 | €31,102 | +€26,471 | +571.7% |
| Profit (loss) for the period before taxes | 9903 | €66,309 | €55,504 | -€10,805 | -16.3% |
| Income taxes | 67/77 | €22,264 | €13,725 | -€8,540 | -38.4% |
| Profit (loss) for the period | 9904 | €44,045 | €41,779 | -€2,266 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €44,045 | €41,779 | -€2,266 | -5.1% |
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.