FIRST FORWARD: 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 FORWARD
Largest movements
- Cash +€12,678
up €12,678 (+34.0%), from €37,263 to €49,941
mainly Net result for the year (+€29,094) and Other debts (+€11,356)
- Tangible fixed assets -€1,856
down €1,856 (-24.7%), from €7,501 to €5,646
of which Plant, machinery and equipment: -€1,781
- Other debts +€11,356
up €11,356 (+68.2%), from €16,656 to €28,011
- Tax, wage and social debts -€5,071
down €5,071 (-53.2%), from €9,527 to €4,456
- Profit (loss) carried forward +€4,094
up €4,094 (+27.0%), from €15,134 to €19,228
- Gross operating margin +€15,222
up €15,222 (+58.7%), from €25,947 to €41,169
- Taxes +€4,450
up €4,450 (+105.8%), from €4,207 to €8,656
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 | €62,023 | €72,382 | +€10,359 | +16.7% |
| Fixed assets | 21/28 | €11,501 | €9,646 | -€1,856 | -16.1% |
| Tangible fixed assets | 22/27 | €7,501 | €5,646 | -€1,856 | -24.7% |
| Land and buildings | 22 | €300 | €225 | -€75 | -25.0% |
| Plant, machinery and equipment | 23 | €7,201 | €5,421 | -€1,781 | -24.7% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €50,521 | €62,736 | +€12,215 | +24.2% |
| Amounts receivable within one year | 40/41 | €13,259 | €12,795 | -€463 | -3.5% |
| Trade receivables | 40 | €13,259 | €12,616 | -€643 | -4.8% |
| Other amounts receivable | 41 | - | €179 | +€179 | |
| Cash at bank and in hand | 54/58 | €37,263 | €49,941 | +€12,678 | +34.0% |
| Total equity and liabilities | 10/49 | €62,023 | €72,382 | +€10,359 | +16.7% |
| Equity | 10/15 | €35,594 | €39,688 | +€4,094 | +11.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,134 | €19,228 | +€4,094 | +27.0% |
| Amounts payable | 17/49 | €26,429 | €32,694 | +€6,266 | +23.7% |
| Amounts payable within one year | 42/48 | €26,429 | €32,694 | +€6,266 | +23.7% |
| Trade debts | 44 | €246 | €227 | -€19 | -7.7% |
| Suppliers | 440/4 | €246 | €227 | -€19 | -7.7% |
| Taxes, remuneration and social security | 45 | €9,527 | €4,456 | -€5,071 | -53.2% |
| Taxes | 450/3 | €9,527 | €4,456 | -€5,071 | -53.2% |
| Other amounts payable | 47/48 | €16,656 | €28,011 | +€11,356 | +68.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,856 | €1,856 | = | 0.0% |
| Other operating charges | 640/8 | €1,607 | €1,471 | -€136 | -8.4% |
| Gross operating margin | 9900 | €25,947 | €41,169 | +€15,222 | +58.7% |
| Operating profit (loss) | 9901 | €22,484 | €37,842 | +€15,358 | +68.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €96 | €92 | -€4 | -3.8% |
| Recurring financial charges | 65 | €96 | €92 | -€4 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €22,388 | €37,750 | +€15,362 | +68.6% |
| Income taxes | 67/77 | €4,207 | €8,656 | +€4,450 | +105.8% |
| Profit (loss) for the period | 9904 | €18,181 | €29,094 | +€10,912 | +60.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,181 | €29,094 | +€10,912 | +60.0% |
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 10 October 2026 via checked.be.