FINANCE MATTERS: 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.
FINANCE MATTERS
Largest movements
- Cash +€41,751
up €41,751 (+63.5%), from €65,756 to €107,507
mainly Net result for the year (+€51,709) and Tax, wage and social debts (+€16,832)
- Tangible fixed assets +€23,450
up €23,450 (+622.5%), from €3,767 to €27,217
of which Leasing and similar rights: +€27,217
- Receivables within one year +€16,874
up €16,874 (+96.6%), from €17,474 to €34,348
of which Other amounts receivable: +€33,863
- Profit (loss) carried forward +€51,709
up €51,709 (+49.6%), from €104,308 to €156,017
- Tax, wage and social debts +€16,832
up €16,832 (+81.1%), from €20,752 to €37,584
- Debts after one year +€15,949
new in 2025: €15,949
- Other debts -€15,188
no longer reported in 2025 (was €15,188)
- Current portion of long-term debt +€10,845
new in 2025: €10,845
- Taxes +€6,247
up €6,247 (+38.1%), from €16,407 to €22,654
- Gross operating margin +€5,543
up €5,543 (+7.6%), from €73,386 to €78,929
- Financial income +€957
up €957 (+45.5%), from €2,102 to €3,058
- Other operating charges -€797
down €797 (-44.6%), from €1,787 to €990
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 | €162,489 | €246,859 | +€84,370 | +51.9% |
| Fixed assets | 21/28 | €3,767 | €27,217 | +€23,450 | +622.5% |
| Tangible fixed assets | 22/27 | €3,767 | €27,217 | +€23,450 | +622.5% |
| Furniture and vehicles | 24 | €3,767 | - | -€3,767 | |
| Leasing and similar rights | 25 | - | €27,217 | +€27,217 | |
| Current assets | 29/58 | €158,722 | €219,642 | +€60,919 | +38.4% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,474 | €34,348 | +€16,874 | +96.6% |
| Trade receivables | 40 | €16,988 | - | -€16,988 | |
| Other amounts receivable | 41 | €485 | €34,348 | +€33,863 | +6976.4% |
| Cash at bank and in hand | 54/58 | €65,756 | €107,507 | +€41,751 | +63.5% |
| Deferred charges and accrued income | 490/1 | €493 | €2,786 | +€2,294 | +465.6% |
| Total equity and liabilities | 10/49 | €162,489 | €246,859 | +€84,370 | +51.9% |
| Equity | 10/15 | €126,431 | €178,139 | +€51,709 | +40.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €3,572 | €3,572 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | - | -€1,855 | |
| Other | 1319 | €1,855 | - | -€1,855 | |
| Distributable reserves | 133 | €1,717 | €3,572 | +€1,855 | +108.0% |
| Profit (loss) carried forward | 14 | €104,308 | €156,017 | +€51,709 | +49.6% |
| Amounts payable | 17/49 | €36,059 | €68,720 | +€32,661 | +90.6% |
| Amounts payable after more than one year | 17 | - | €15,949 | +€15,949 | |
| Financial debts | 170/4 | - | €15,949 | +€15,949 | |
| Amounts payable within one year | 42/48 | €36,059 | €52,771 | +€16,712 | +46.3% |
| Current portion of amounts payable after more than one year | 42 | - | €10,845 | +€10,845 | |
| Trade debts | 44 | €118 | €4,341 | +€4,224 | +3584.2% |
| Suppliers | 440/4 | €118 | €4,341 | +€4,224 | +3584.2% |
| Taxes, remuneration and social security | 45 | €20,752 | €37,584 | +€16,832 | +81.1% |
| Taxes | 450/3 | €20,752 | €37,584 | +€16,832 | +81.1% |
| Other amounts payable | 47/48 | €15,188 | - | -€15,188 | |
| Non-recurring operating income | 76A | - | €365 | +€365 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,101 | €5,751 | +€650 | +12.7% |
| Other operating charges | 640/8 | €1,787 | €990 | -€797 | -44.6% |
| Gross operating margin | 9900 | €73,386 | €78,929 | +€5,543 | +7.6% |
| Operating profit (loss) | 9901 | €66,498 | €72,188 | +€5,690 | +8.6% |
| Financial income | 75/76B | €2,102 | €3,058 | +€957 | +45.5% |
| Recurring financial income | 75 | €2,102 | €3,058 | +€957 | +45.5% |
| Financial charges | 65/66B | €115 | €884 | +€768 | +667.5% |
| Recurring financial charges | 65 | €115 | €884 | +€768 | +667.5% |
| Profit (loss) for the period before taxes | 9903 | €68,484 | €74,363 | +€5,878 | +8.6% |
| Income taxes | 67/77 | €16,407 | €22,654 | +€6,247 | +38.1% |
| Profit (loss) for the period | 9904 | €52,077 | €51,709 | -€369 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,077 | €51,709 | -€369 | -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 9 October 2026 via checked.be.