F & E: 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.
F & E
Largest movements
- Cash +€316,673
up €316,673 (+664.1%), from €47,684 to €364,357
mainly Receivables within one year (+€199,824) and Other debts (+€90,000)
- Receivables within one year -€199,824
down €199,824 (-59.6%), from €335,485 to €135,661
of which Other amounts receivable: -€165,733
- Profit (loss) carried forward -€91,155
down €91,155 (-60.4%), from €150,827 to €59,672
- Other debts +€90,000
up €90,000 (+150.0%), from €60,000 to €150,000
- Trade debts +€70,455
up €70,455 (+200.8%), from €35,079 to €105,534
- Tax, wage and social debts +€34,092
up €34,092 (+112.6%), from €30,277 to €64,370
of which Taxes: +€31,125
- Accrued charges and deferred income +€13,077
up €13,077 (+19.4%), from €67,335 to €80,412
- Gross operating margin +€164,835
up €164,835 (+87.7%), from €188,038 to €352,872
- Staff costs +€163,848
up €163,848 (+152.1%), from €107,721 to €271,569
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 | €388,519 | €504,987 | +€116,469 | +30.0% |
| Fixed assets | 21/28 | €2,790 | €2,369 | -€421 | -15.1% |
| Tangible fixed assets | 22/27 | €1,215 | €794 | -€421 | -34.7% |
| Plant, machinery and equipment | 23 | €1,215 | €794 | -€421 | -34.7% |
| Financial fixed assets | 28 | €1,575 | €1,575 | = | 0.0% |
| Current assets | 29/58 | €385,728 | €502,618 | +€116,890 | +30.3% |
| Amounts receivable within one year | 40/41 | €335,485 | €135,661 | -€199,824 | -59.6% |
| Trade receivables | 40 | €146,621 | €112,530 | -€34,091 | -23.3% |
| Other amounts receivable | 41 | €188,864 | €23,131 | -€165,733 | -87.8% |
| Cash at bank and in hand | 54/58 | €47,684 | €364,357 | +€316,673 | +664.1% |
| Deferred charges and accrued income | 490/1 | €2,559 | €2,600 | +€41 | +1.6% |
| Total equity and liabilities | 10/49 | €388,519 | €504,987 | +€116,469 | +30.0% |
| Equity | 10/15 | €195,827 | €104,672 | -€91,155 | -46.5% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €150,827 | €59,672 | -€91,155 | -60.4% |
| Amounts payable | 17/49 | €192,691 | €400,315 | +€207,624 | +107.7% |
| Amounts payable within one year | 42/48 | €125,356 | €319,904 | +€194,548 | +155.2% |
| Trade debts | 44 | €35,079 | €105,534 | +€70,455 | +200.8% |
| Suppliers | 440/4 | €35,079 | €105,534 | +€70,455 | +200.8% |
| Taxes, remuneration and social security | 45 | €30,277 | €64,370 | +€34,092 | +112.6% |
| Taxes | 450/3 | €11,351 | €42,476 | +€31,125 | +274.2% |
| Remuneration and social security | 454/9 | €18,926 | €21,893 | +€2,967 | +15.7% |
| Other amounts payable | 47/48 | €60,000 | €150,000 | +€90,000 | +150.0% |
| Accrued charges and deferred income | 492/3 | €67,335 | €80,412 | +€13,077 | +19.4% |
| Remuneration, social security and pensions | 62 | €107,721 | €271,569 | +€163,848 | +152.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48 | €421 | +€373 | +772.6% |
| Other operating charges | 640/8 | €660 | €550 | -€111 | -16.8% |
| Gross operating margin | 9900 | €188,038 | €352,872 | +€164,835 | +87.7% |
| Operating profit (loss) | 9901 | €79,608 | €80,332 | +€724 | +0.9% |
| Financial income | 75/76B | €5,823 | €2,411 | -€3,413 | -58.6% |
| Recurring financial income | 75 | €5,823 | €2,411 | -€3,413 | -58.6% |
| Financial charges | 65/66B | €3,000 | €3,168 | +€169 | +5.6% |
| Recurring financial charges | 65 | €3,000 | €3,168 | +€169 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €82,432 | €79,574 | -€2,858 | -3.5% |
| Income taxes | 67/77 | €23,150 | €20,729 | -€2,420 | -10.5% |
| Profit (loss) for the period | 9904 | €59,282 | €58,845 | -€437 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €59,282 | €58,845 | -€437 | -0.7% |
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 4 October 2026 via checked.be.