EXPERT: 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.
EXPERT
Largest movements
- Receivables within one year +€61,240
up €61,240 (+165%), from €37,103 to €98,343
of which Other amounts receivable: +€75,281
- Cash -€52,394
down €52,394 (-93.8%), from €55,843 to €3,450
mainly Receivables within one year (-€61,240) and Trade debts (-€8,679)
- Tangible fixed assets -€1,315
no longer reported in 2025 (was €1,315)
- Profit (loss) carried forward +€19,229
up €19,229 (+40.3%), from €47,716 to €66,945
- Trade debts -€8,679
down €8,679 (-90.2%), from €9,628 to €948
- Accrued charges and deferred income -€3,879
no longer reported in 2025 (was €3,879)
- Other debts -€3,000
no longer reported in 2025 (was €3,000)
- Short-term financial debts +€2,778
new in 2025: €2,778
- Gross operating margin -€13,769
down €13,769 (-36.5%), from €37,758 to €23,988
- Financial income +€2,214
up €2,214 (+385%), from €575 to €2,789
- Other operating charges -€416
down €416 (-61.2%), from €680 to €264
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 | €94,262 | €101,792 | +€7,531 | +8.0% |
| Fixed assets | 21/28 | €1,315 | - | -€1,315 | |
| Tangible fixed assets | 22/27 | €1,315 | - | -€1,315 | |
| Plant, machinery and equipment | 23 | €1,315 | - | -€1,315 | |
| Current assets | 29/58 | €92,946 | €101,792 | +€8,846 | +9.5% |
| Amounts receivable within one year | 40/41 | €37,103 | €98,343 | +€61,240 | +165% |
| Trade receivables | 40 | €23,290 | €9,248 | -€14,041 | -60.3% |
| Other amounts receivable | 41 | €13,814 | €89,094 | +€75,281 | +545% |
| Cash at bank and in hand | 54/58 | €55,843 | €3,450 | -€52,394 | -93.8% |
| Total equity and liabilities | 10/49 | €94,262 | €101,792 | +€7,531 | +8.0% |
| Equity | 10/15 | €66,316 | €85,545 | +€19,229 | +29.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,716 | €66,945 | +€19,229 | +40.3% |
| Amounts payable | 17/49 | €27,946 | €16,247 | -€11,698 | -41.9% |
| Amounts payable within one year | 42/48 | €24,066 | €16,247 | -€7,819 | -32.5% |
| Financial debts | 43 | - | €2,778 | +€2,778 | |
| Credit institutions | 430/8 | - | €2,778 | +€2,778 | |
| Trade debts | 44 | €9,628 | €948 | -€8,679 | -90.2% |
| Suppliers | 440/4 | €9,628 | €948 | -€8,679 | -90.2% |
| Taxes, remuneration and social security | 45 | €11,439 | €12,521 | +€1,082 | +9.5% |
| Taxes | 450/3 | €11,439 | €12,521 | +€1,082 | +9.5% |
| Other amounts payable | 47/48 | €3,000 | - | -€3,000 | |
| Accrued charges and deferred income | 492/3 | €3,879 | - | -€3,879 | |
| Non-recurring operating income | 76A | - | €4,734 | +€4,734 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,416 | €1,315 | -€100 | -7.1% |
| Other operating charges | 640/8 | €680 | €264 | -€416 | -61.2% |
| Gross operating margin | 9900 | €37,758 | €23,988 | -€13,769 | -36.5% |
| Operating profit (loss) | 9901 | €35,662 | €22,409 | -€13,253 | -37.2% |
| Financial income | 75/76B | €575 | €2,789 | +€2,214 | +385% |
| Recurring financial income | 75 | €575 | €2,789 | +€2,214 | +385% |
| Financial charges | 65/66B | €502 | €676 | +€174 | +34.6% |
| Recurring financial charges | 65 | €502 | €676 | +€174 | +34.6% |
| Profit (loss) for the period before taxes | 9903 | €35,735 | €24,523 | -€11,212 | -31.4% |
| Income taxes | 67/77 | €5,499 | €5,293 | -€205 | -3.7% |
| Profit (loss) for the period | 9904 | €30,236 | €19,229 | -€11,007 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,236 | €19,229 | -€11,007 | -36.4% |
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 16 October 2026 via checked.be.