EXPRESSION: 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.
EXPRESSION
Largest movements
- Cash +€5,078
up €5,078 (+32.0%), from €15,886 to €20,965
mainly Net result for the year (+€15,570) and Tax, wage and social debts (+€401)
- Profit (loss) carried forward +€15,570
up €15,570 (+15.1%), from €102,970 to €118,540
- Advances received -€4,708
no longer reported in 2025 (was €4,708)
- Gross operating margin -€6,966
down €6,966 (-21.1%), from €33,022 to €26,056
- Other operating charges +€2,092
up €2,092 (+381.4%), from €549 to €2,640
- Taxes -€1,451
down €1,451 (-16.0%), from €9,080 to €7,629
- Write-downs +€440
no longer reported in 2025 (was -€440)
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 | €308,449 | €317,149 | +€8,699 | +2.8% |
| Fixed assets | 21/28 | €142,878 | €142,719 | -€159 | -0.1% |
| Intangible fixed assets | 21 | €141,299 | €141,299 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,579 | €1,420 | -€159 | -10.0% |
| Leasing and similar rights | 25 | €1,579 | €1,420 | -€159 | -10.0% |
| Current assets | 29/58 | €165,572 | €174,429 | +€8,858 | +5.3% |
| Amounts receivable after more than one year | 29 | €42,333 | €43,365 | +€1,033 | +2.4% |
| Other amounts receivable | 291 | €42,333 | €43,365 | +€1,033 | +2.4% |
| Stocks and contracts in progress | 3 | €9,689 | €9,346 | -€344 | -3.5% |
| Stocks | 30/36 | €9,689 | €9,346 | -€344 | -3.5% |
| Amounts receivable within one year | 40/41 | €97,192 | €100,257 | +€3,065 | +3.2% |
| Trade receivables | 40 | €17,688 | €6,480 | -€11,208 | -63.4% |
| Other amounts receivable | 41 | €79,504 | €93,776 | +€14,273 | +18.0% |
| Cash at bank and in hand | 54/58 | €15,886 | €20,965 | +€5,078 | +32.0% |
| Deferred charges and accrued income | 490/1 | €472 | €497 | +€26 | +5.4% |
| Total equity and liabilities | 10/49 | €308,449 | €317,149 | +€8,699 | +2.8% |
| Equity | 10/15 | €280,028 | €295,598 | +€15,570 | +5.6% |
| Contributions | 10/11 | €92,960 | €92,960 | = | 0.0% |
| Capital | 10 | €92,960 | €92,960 | = | 0.0% |
| Issued capital | 100 | €92,960 | €92,960 | = | 0.0% |
| Revaluation surpluses | 12 | €79,326 | €79,326 | = | 0.0% |
| Reserves | 13 | €4,773 | €4,773 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,773 | €4,773 | = | 0.0% |
| Legal reserve | 130 | €4,773 | €4,773 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,970 | €118,540 | +€15,570 | +15.1% |
| Amounts payable | 17/49 | €28,421 | €21,550 | -€6,871 | -24.2% |
| Amounts payable within one year | 42/48 | €28,421 | €21,550 | -€6,871 | -24.2% |
| Trade debts | 44 | €2,892 | €328 | -€2,564 | -88.7% |
| Suppliers | 440/4 | €2,892 | €328 | -€2,564 | -88.7% |
| Advances received on contracts in progress | 46 | €4,708 | - | -€4,708 | |
| Taxes, remuneration and social security | 45 | €20,821 | €21,223 | +€401 | +1.9% |
| Taxes | 450/3 | €20,821 | €21,223 | +€401 | +1.9% |
| Remuneration, social security and pensions | 62 | €70 | - | -€70 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7 | €159 | +€152 | +2338.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€440 | - | +€440 | |
| Other operating charges | 640/8 | €549 | €2,640 | +€2,092 | +381.4% |
| Gross operating margin | 9900 | €33,022 | €26,056 | -€6,966 | -21.1% |
| Operating profit (loss) | 9901 | €32,837 | €23,257 | -€9,580 | -29.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | +200.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +200.0% |
| Financial charges | 65/66B | €58 | €58 | +€1 | +1.0% |
| Recurring financial charges | 65 | €58 | €58 | +€1 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €32,779 | €23,199 | -€9,581 | -29.2% |
| Income taxes | 67/77 | €9,080 | €7,629 | -€1,451 | -16.0% |
| Profit (loss) for the period | 9904 | €23,699 | €15,570 | -€8,129 | -34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,699 | €15,570 | -€8,129 | -34.3% |
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 1 October 2026 via checked.be.