EXPONENTIAL: 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.
EXPONENTIAL
Largest movements
- Receivables within one year +€112,233
up €112,233 (+115%), from €97,288 to €209,521
of which Trade receivables: +€76,318
- Cash -€17,045
down €17,045 (-84.9%), from €20,077 to €3,032
mainly Receivables within one year (-€112,233) and Receivables after one year (-€12,480)
- Receivables after one year +€12,480
up €12,480 (+11.3%), from €110,800 to €123,280
- Deferred charges and accrued income +€5,978
up €5,978 (+223%), from €2,681 to €8,659
- Reserves +€121,119
up €121,119 (+63.6%), from €190,409 to €311,528
of which Distributable reserves: +€121,119
- Tax, wage and social debts -€7,079
down €7,079 (-31.5%), from €22,461 to €15,382
- Gross operating margin +€72,844
up €72,844 (+76.7%), from €94,933 to €167,777
- Taxes +€24,838
up €24,838 (+88.2%), from €28,163 to €53,001
- Financial income +€5,371
up €5,371 (+126%), from €4,273 to €9,644
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 | €234,684 | €350,115 | +€115,432 | +49.2% |
| Fixed assets | 21/28 | €3,839 | €5,624 | +€1,786 | +46.5% |
| Tangible fixed assets | 22/27 | €2,046 | €3,831 | +€1,786 | +87.3% |
| Furniture and vehicles | 24 | €2,046 | €3,831 | +€1,786 | +87.3% |
| Financial fixed assets | 28 | €1,793 | €1,793 | = | 0.0% |
| Current assets | 29/58 | €230,845 | €344,491 | +€113,646 | +49.2% |
| Amounts receivable after more than one year | 29 | €110,800 | €123,280 | +€12,480 | +11.3% |
| Other amounts receivable | 291 | €110,800 | €123,280 | +€12,480 | +11.3% |
| Amounts receivable within one year | 40/41 | €97,288 | €209,521 | +€112,233 | +115% |
| Trade receivables | 40 | €45,153 | €121,470 | +€76,318 | +169% |
| Other amounts receivable | 41 | €52,135 | €88,050 | +€35,915 | +68.9% |
| Cash at bank and in hand | 54/58 | €20,077 | €3,032 | -€17,045 | -84.9% |
| Deferred charges and accrued income | 490/1 | €2,681 | €8,659 | +€5,978 | +223% |
| Total equity and liabilities | 10/49 | €234,684 | €350,115 | +€115,432 | +49.2% |
| Equity | 10/15 | €209,009 | €330,128 | +€121,119 | +57.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €190,409 | €311,528 | +€121,119 | +63.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €188,549 | €309,668 | +€121,119 | +64.2% |
| Amounts payable | 17/49 | €25,675 | €19,988 | -€5,687 | -22.2% |
| Amounts payable within one year | 42/48 | €25,675 | €19,988 | -€5,687 | -22.2% |
| Trade debts | 44 | €3,213 | €4,606 | +€1,392 | +43.3% |
| Suppliers | 440/4 | €3,213 | €4,606 | +€1,392 | +43.3% |
| Taxes, remuneration and social security | 45 | €22,461 | €15,382 | -€7,079 | -31.5% |
| Taxes | 450/3 | €22,461 | €15,382 | -€7,079 | -31.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,183 | €1,722 | +€539 | +45.6% |
| Other operating charges | 640/8 | €563 | €579 | +€16 | +2.8% |
| Gross operating margin | 9900 | €94,933 | €167,777 | +€72,844 | +76.7% |
| Operating profit (loss) | 9901 | €93,187 | €165,476 | +€72,289 | +77.6% |
| Financial income | 75/76B | €4,273 | €9,644 | +€5,371 | +126% |
| Recurring financial income | 75 | €4,273 | €9,644 | +€5,371 | +126% |
| Financial charges | 65/66B | €1,328 | €1,000 | -€328 | -24.7% |
| Recurring financial charges | 65 | €1,328 | €1,000 | -€328 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €96,132 | €174,120 | +€77,987 | +81.1% |
| Income taxes | 67/77 | €28,163 | €53,001 | +€24,838 | +88.2% |
| Profit (loss) for the period | 9904 | €67,970 | €121,119 | +€53,149 | +78.2% |
| Profit (loss) for the period to be appropriated | 9905 | €67,970 | €121,119 | +€53,149 | +78.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.