FIRST COLLECTION: 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.
FIRST COLLECTION
Largest movements
- Receivables after one year +€66,936
up €66,936 (+46.2%), from €145,038 to €211,974
- Receivables within one year -€3,446
down €3,446 (-19.5%), from €17,677 to €14,231
of which Trade receivables: -€11,494
- Reserves +€76,000
up €76,000 (+293%), from €25,946 to €101,946
of which Distributable reserves: +€76,000
- Accrued charges and deferred income -€30,000
no longer reported in 2025 (was €30,000)
- Tax, wage and social debts +€19,878
up €19,878 (+54.1%), from €36,730 to €56,608
- Gross operating margin +€66,972
up €66,972 (+134%), from €49,961 to €116,934
- Taxes +€21,468
up €21,468 (+113%), from €19,014 to €40,482
- Financial income +€6,248
new in 2025: €6,248
- Financial charges +€1,446
up €1,446 (+44.3%), from €3,266 to €4,712
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €164,991 | €227,462 | +€62,471 | +37.9% |
| Fixed assets | 21/28 | €2,276 | €1,257 | -€1,019 | -44.8% |
| Tangible fixed assets | 22/27 | €2,276 | €1,257 | -€1,019 | -44.8% |
| Plant, machinery and equipment | 23 | €1,241 | €611 | -€631 | -50.8% |
| Furniture and vehicles | 24 | €1,034 | €647 | -€388 | -37.5% |
| Current assets | 29/58 | €162,715 | €226,205 | +€63,490 | +39.0% |
| Amounts receivable after more than one year | 29 | €145,038 | €211,974 | +€66,936 | +46.2% |
| Other amounts receivable | 291 | €145,038 | €211,974 | +€66,936 | +46.2% |
| Amounts receivable within one year | 40/41 | €17,677 | €14,231 | -€3,446 | -19.5% |
| Trade receivables | 40 | €17,677 | €6,184 | -€11,494 | -65.0% |
| Other amounts receivable | 41 | - | €8,048 | +€8,048 | |
| Total equity and liabilities | 10/49 | €164,991 | €227,462 | +€62,471 | +37.9% |
| Equity | 10/15 | €81,425 | €157,593 | +€76,168 | +93.5% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Capital | 10 | €6,197 | €6,197 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Uncalled capital | 101 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €25,946 | €101,946 | +€76,000 | +293% |
| Non-distributable reserves | 130/1 | €946 | €946 | = | 0.0% |
| Reserves not available under the articles | 1311 | €946 | €946 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | €101,000 | +€76,000 | +304% |
| Profit (loss) carried forward | 14 | €49,281 | €49,450 | +€168 | +0.3% |
| Amounts payable | 17/49 | €83,566 | €69,869 | -€13,697 | -16.4% |
| Amounts payable within one year | 42/48 | €53,566 | €69,869 | +€16,303 | +30.4% |
| Current portion of amounts payable after more than one year | 42 | €642 | - | -€642 | |
| Financial debts | 43 | €13,087 | €11,896 | -€1,191 | -9.1% |
| Credit institutions | 430/8 | €13,087 | €11,896 | -€1,191 | -9.1% |
| Trade debts | 44 | €1,979 | €237 | -€1,743 | -88.0% |
| Suppliers | 440/4 | €1,979 | €237 | -€1,743 | -88.0% |
| Taxes, remuneration and social security | 45 | €36,730 | €56,608 | +€19,878 | +54.1% |
| Taxes | 450/3 | €36,730 | €56,608 | +€19,878 | +54.1% |
| Other amounts payable | 47/48 | €1,128 | €1,128 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €30,000 | - | -€30,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,619 | €1,019 | -€600 | -37.1% |
| Other operating charges | 640/8 | €129 | - | -€129 | |
| Gross operating margin | 9900 | €49,961 | €116,934 | +€66,972 | +134% |
| Operating profit (loss) | 9901 | €48,214 | €115,915 | +€67,701 | +140% |
| Financial income | 75/76B | - | €6,248 | +€6,248 | |
| Recurring financial income | 75 | - | €6,248 | +€6,248 | |
| Financial charges | 65/66B | €3,266 | €4,712 | +€1,446 | +44.3% |
| Recurring financial charges | 65 | €3,266 | €4,712 | +€1,446 | +44.3% |
| Profit (loss) for the period before taxes | 9903 | €44,948 | €117,451 | +€72,503 | +161% |
| Income taxes | 67/77 | €19,014 | €40,482 | +€21,468 | +113% |
| Profit (loss) for the period | 9904 | €25,934 | €76,968 | +€51,035 | +197% |
| Profit (loss) for the period to be appropriated | 9905 | €25,934 | €76,968 | +€51,035 | +197% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.