FIRST WAVE: 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.
What changed
FIRST WAVE
NACE 63.920, Other information service activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.3m
2024 · €378,535+€920,090
Equity
€3.9m
2024 · €3.6m+€235,250
Cash
€1.0m
2024 · €404,176+€613,536
Balance sheet total
€7.3m
2024 · €6.6m+€708,073
Largest movements
Assets
- Cash +€613,536
up €613,536 (+151.8%), from €404,176 to €1.0m
mainly Net result for the year (+€1.3m) and Debts after one year (+€1.3m)
- Receivables within one year +€105,366
up €105,366 (+1.8%), from €6.0m to €6.1m
of which Other amounts receivable: +€285,448
Equity and liabilities
- Debts after one year +€1.3m
new in 2025: €1.3m
- Provisions -€760,565
down €760,565 (-100.0%), from €760,565 to €0
- Profit (loss) carried forward +€587,483
up €587,483 (+155.2%), from €378,557 to €966,040
- Other debts -€381,673
down €381,673 (-85.8%), from €445,048 to €63,375
- Reserves -€352,233
down €352,233 (-11.0%), from €3.2m to €2.8m
of which Distributable reserves: -€352,233
Income statement
- Gross operating margin -€7.5m
no longer reported in 2025 (was €7.5m)
- Provisions -€1.5m
down €1.5m, from €760,565 to -€760,565
- Services and other goods +€1.2m
new in 2025: €1.2m
- Other operating income +€884,392
new in 2025: €884,392
- Goods and materials +€793,474
new in 2025: €793,474
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.
Result 2024
€378,535
Turnover
-€105,169
Other operating income
+€884,392
Goods and materials
-€793,474
Services and other goods
-€1.2m
Staff costs
-€268,329
Depreciation
+€8,069
Provisions
+€1.5m
Other operating charges
+€3,334
Other operating items
+€1.2m
Financial income
+€45,302
Financial charges
-€17,858
Taxes
-€354,534
Result 2025
€1.3m
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.
From operations
+€135,998
Investment
-€21,438
Financing
+€498,976
Cash 2024
€404,176
From operations (derived)
+€135,998
Net result for the year
+€1.3m
Depreciation
+€34,250
Receivables within one year
-€105,366
Deferred charges and accrued income
-€1,983
Provisions
-€760,565
Trade debts
-€30,060
Tax, wage and social debts
+€79,223
Other debts
-€381,673
Accrued charges and deferred income
+€3,547
Investment (derived)
-€21,438
Investment in fixed assets (net)
-€21,438
Financing
+€498,976
Debts after one year
+€1.3m
Current portion of long-term debt
+€307,280
Short-term financial debts
-€5,642
Contributions, distributions and other
-€1.1m
Cash 2025
€1.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,550,104 | €7,258,177 | +€708,073 | +10.8% |
| Fixed assets | 21/28 | €66,199 | €53,387 | -€12,812 | -19.4% |
| Tangible fixed assets | 22/27 | €66,199 | €53,387 | -€12,812 | -19.4% |
| Plant, machinery and equipment | 23 | €30,802 | €22,327 | -€8,475 | -27.5% |
| Furniture and vehicles | 24 | €34,069 | €31,060 | -€3,009 | -8.8% |
| Other tangible fixed assets | 26 | €1,328 | €0 | -€1,328 | -100.0% |
| Current assets | 29/58 | €6,483,905 | €7,204,790 | +€720,885 | +11.1% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €5,986,700 | €6,092,066 | +€105,366 | +1.8% |
| Trade receivables | 40 | €2,378,357 | €2,198,276 | -€180,081 | -7.6% |
| Other amounts receivable | 41 | €3,608,343 | €3,893,790 | +€285,448 | +7.9% |
| Cash at bank and in hand | 54/58 | €404,176 | €1,017,712 | +€613,536 | +151.8% |
| Deferred charges and accrued income | 490/1 | €93,028 | €95,011 | +€1,983 | +2.1% |
| Total equity and liabilities | 10/49 | €6,550,104 | €7,258,177 | +€708,073 | +10.8% |
| Equity | 10/15 | €3,639,957 | €3,875,207 | +€235,250 | +6.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €3,199,400 | €2,847,167 | -€352,233 | -11.0% |
| Non-distributable reserves | 130/1 | €2,847,167 | €2,847,167 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,840,967 | €2,840,967 | = | 0.0% |
| Financial assistance | 1313 | €0 | - | = | |
| Distributable reserves | 133 | €352,233 | €0 | -€352,233 | -100.0% |
| Profit (loss) carried forward | 14 | €378,557 | €966,040 | +€587,483 | +155.2% |
| Provisions and deferred taxes | 16 | €760,565 | €0 | -€760,565 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €760,565 | €0 | -€760,565 | -100.0% |
| Other liabilities and charges | 164/5 | €760,565 | €0 | -€760,565 | -100.0% |
| Amounts payable | 17/49 | €2,149,582 | €3,382,970 | +€1.2m | +57.4% |
| Amounts payable after more than one year | 17 | - | €1,260,712 | +€1.3m | |
| Financial debts | 170/4 | - | €1,260,712 | +€1.3m | |
| Credit institutions | 173 | - | €815,665 | +€815,665 | |
| Other loans | 174 | - | €445,048 | +€445,048 | |
| Amounts payable within one year | 42/48 | €2,143,964 | €2,113,092 | -€30,871 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | - | €307,280 | +€307,280 | |
| Financial debts | 43 | €10,104 | €4,463 | -€5,642 | -55.8% |
| Credit institutions | 430/8 | €10,104 | €4,463 | -€5,642 | -55.8% |
| Trade debts | 44 | €466,031 | €435,971 | -€30,060 | -6.5% |
| Suppliers | 440/4 | €466,031 | €435,971 | -€30,060 | -6.5% |
| Taxes, remuneration and social security | 45 | €1,222,781 | €1,302,004 | +€79,223 | +6.5% |
| Taxes | 450/3 | €499,595 | €516,258 | +€16,663 | +3.3% |
| Remuneration and social security | 454/9 | €723,186 | €785,746 | +€62,560 | +8.7% |
| Other amounts payable | 47/48 | €445,048 | €63,375 | -€381,673 | -85.8% |
| Accrued charges and deferred income | 492/3 | €5,618 | €9,165 | +€3,547 | +63.1% |
| Operating income | 70/76A | - | €9,484,434 | +€9.5m | |
| Turnover | 70 | €8,705,211 | €8,600,042 | -€105,169 | -1.2% |
| Other operating income | 74 | - | €884,392 | +€884,392 | |
| Non-recurring operating income | 76A | €2,176 | €0 | -€2,176 | -100.0% |
| Operating charges | 60/66A | - | €7,724,597 | +€7.7m | |
| Goods, raw materials, services and sundry goods | 60/61 | €2,080,972 | - | -€2.1m | |
| Goods for resale, raw materials and consumables | 60 | - | €793,474 | +€793,474 | |
| Purchases | 600/8 | - | €793,474 | +€793,474 | |
| Services and other goods | 61 | - | €1,237,966 | +€1.2m | |
| Remuneration, social security and pensions | 62 | €6,147,602 | €6,415,931 | +€268,329 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,320 | €34,250 | -€8,069 | -19.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €760,565 | -€760,565 | -€1.5m | |
| Other operating charges | 640/8 | €4,969 | €1,634 | -€3,334 | -67.1% |
| Non-recurring operating charges | 66A | €698 | €1,906 | +€1,208 | +173.1% |
| Gross operating margin | 9900 | €7,468,811 | - | -€7.5m | |
| Operating profit (loss) | 9901 | €512,658 | €1,759,837 | +€1.2m | +243.3% |
| Financial income | 75/76B | €79,603 | €124,905 | +€45,302 | +56.9% |
| Recurring financial income | 75 | €79,603 | €124,905 | +€45,302 | +56.9% |
| Income from current assets | 751 | - | €124,165 | +€124,165 | |
| Other financial income | 752/9 | - | €740 | +€740 | |
| Financial charges | 65/66B | €111,735 | €129,593 | +€17,858 | +16.0% |
| Recurring financial charges | 65 | €111,735 | €129,593 | +€17,858 | +16.0% |
| Debt charges | 650 | - | €128,060 | +€128,060 | |
| Other financial charges | 652/9 | - | €1,533 | +€1,533 | |
| Profit (loss) for the period before taxes | 9903 | €480,525 | €1,755,149 | +€1.3m | +265.3% |
| Income taxes | 67/77 | €101,990 | €456,524 | +€354,534 | +347.6% |
| Taxes | 670/3 | - | €456,524 | +€456,524 | |
| Profit (loss) for the period | 9904 | €378,535 | €1,298,625 | +€920,090 | +243.1% |
| Profit (loss) for the period to be appropriated | 9905 | €378,535 | €1,298,625 | +€920,090 | +243.1% |
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 6 October 2026 via checked.be.