FEELING IMAGE: 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.
FEELING IMAGE
Largest movements
- Cash +€74,458
up €74,458 (+50.7%), from €146,963 to €221,420
mainly Net result for the year (+€59,475) and Current portion of long-term debt (+€8,667)
- Tangible fixed assets -€3,746
down €3,746 (-34.5%), from €10,854 to €7,109
of which Furniture and vehicles: -€2,323
- Reserves +€59,475
up €59,475 (+36.9%), from €160,981 to €220,456
- Current portion of long-term debt +€8,667
new in 2025: €8,667
- Other debts +€4,200
up €4,200 (+107.0%), from €3,926 to €8,126
- Gross operating margin -€2,554
down €2,554 (-2.6%), from €97,078 to €94,524
- Depreciation -€2,347
down €2,347 (-37.9%), from €6,193 to €3,846
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 | €185,330 | €257,502 | +€72,172 | +38.9% |
| Fixed assets | 21/28 | €11,004 | €7,159 | -€3,846 | -34.9% |
| Intangible fixed assets | 21 | €100 | - | -€100 | |
| Tangible fixed assets | 22/27 | €10,854 | €7,109 | -€3,746 | -34.5% |
| Furniture and vehicles | 24 | €2,361 | €38 | -€2,323 | -98.4% |
| Other tangible fixed assets | 26 | €8,493 | €7,071 | -€1,422 | -16.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €174,325 | €250,343 | +€76,018 | +43.6% |
| Stocks and contracts in progress | 3 | €25,320 | €26,410 | +€1,090 | +4.3% |
| Stocks | 30/36 | €25,320 | €26,410 | +€1,090 | +4.3% |
| Amounts receivable within one year | 40/41 | €309 | €615 | +€306 | +99.0% |
| Trade receivables | 40 | €309 | €520 | +€211 | +68.3% |
| Other amounts receivable | 41 | - | €95 | +€95 | |
| Cash at bank and in hand | 54/58 | €146,963 | €221,420 | +€74,458 | +50.7% |
| Deferred charges and accrued income | 490/1 | €1,733 | €1,898 | +€165 | +9.5% |
| Total equity and liabilities | 10/49 | €185,330 | €257,502 | +€72,172 | +38.9% |
| Equity | 10/15 | €165,981 | €225,456 | +€59,475 | +35.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Share premium | 1100/10 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €160,981 | €220,456 | +€59,475 | +36.9% |
| Distributable reserves | 133 | €160,981 | €220,456 | +€59,475 | +36.9% |
| Amounts payable | 17/49 | €19,349 | €32,046 | +€12,698 | +65.6% |
| Amounts payable within one year | 42/48 | €19,349 | €30,546 | +€11,198 | +57.9% |
| Current portion of amounts payable after more than one year | 42 | - | €8,667 | +€8,667 | |
| Financial debts | 43 | €1,626 | - | -€1,626 | |
| Credit institutions | 430/8 | €1,626 | - | -€1,626 | |
| Trade debts | 44 | €6,134 | €7,091 | +€957 | +15.6% |
| Suppliers | 440/4 | €6,134 | €7,091 | +€957 | +15.6% |
| Advances received on contracts in progress | 46 | €150 | - | -€150 | |
| Taxes, remuneration and social security | 45 | €7,512 | €6,662 | -€850 | -11.3% |
| Taxes | 450/3 | €7,512 | €5,362 | -€2,150 | -28.6% |
| Remuneration and social security | 454/9 | - | €1,300 | +€1,300 | |
| Other amounts payable | 47/48 | €3,926 | €8,126 | +€4,200 | +107.0% |
| Accrued charges and deferred income | 492/3 | - | €1,500 | +€1,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,193 | €3,846 | -€2,347 | -37.9% |
| Other operating charges | 640/8 | €991 | €532 | -€459 | -46.3% |
| Gross operating margin | 9900 | €97,078 | €94,524 | -€2,554 | -2.6% |
| Operating profit (loss) | 9901 | €89,895 | €90,147 | +€252 | +0.3% |
| Financial income | 75/76B | €0 | €10 | +€10 | +5326.3% |
| Recurring financial income | 75 | €0 | €10 | +€10 | +5326.3% |
| Financial charges | 65/66B | €2,264 | €2,758 | +€494 | +21.8% |
| Recurring financial charges | 65 | €2,264 | €2,758 | +€494 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | €87,630 | €87,399 | -€232 | -0.3% |
| Income taxes | 67/77 | €28,032 | €27,924 | -€108 | -0.4% |
| Profit (loss) for the period | 9904 | €59,598 | €59,475 | -€123 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €59,598 | €59,475 | -€123 | -0.2% |
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 7 October 2026 via checked.be.