FLOW: 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.
FLOW
Largest movements
- Cash +€30,123
up €30,123 (+17.8%), from €168,942 to €199,065
mainly Net result for the year (+€45,114) and Depreciation (+€9,566)
- Tangible fixed assets +€9,338
up €9,338 (+66.1%), from €14,122 to €23,460
of which Land and buildings: +€6,892
- Intangible fixed assets -€5,624
down €5,624 (-7.6%), from €73,733 to €68,109
- Reserves +€45,000
up €45,000 (+20.1%), from €223,710 to €268,710
of which Distributable reserves: +€45,000
- Tax, wage and social debts -€8,950
down €8,950 (-71.6%), from €12,508 to €3,558
- Gross operating margin +€16,223
up €16,223 (+28.2%), from €57,621 to €73,844
- Taxes +€3,850
up €3,850 (+28.0%), from €13,735 to €17,585
- Financial income -€888
down €888 (-91.0%), from €976 to €88
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 | €270,412 | €305,222 | +€34,810 | +12.9% |
| Fixed assets | 21/28 | €88,004 | €91,718 | +€3,714 | +4.2% |
| Intangible fixed assets | 21 | €73,733 | €68,109 | -€5,624 | -7.6% |
| Tangible fixed assets | 22/27 | €14,122 | €23,460 | +€9,338 | +66.1% |
| Land and buildings | 22 | €8,543 | €15,435 | +€6,892 | +80.7% |
| Plant, machinery and equipment | 23 | €4,423 | €8,025 | +€3,603 | +81.5% |
| Furniture and vehicles | 24 | €1,156 | - | -€1,156 | |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €182,408 | €213,504 | +€31,096 | +17.0% |
| Amounts receivable within one year | 40/41 | €10,885 | €11,770 | +€885 | +8.1% |
| Trade receivables | 40 | €9,327 | €11,770 | +€2,443 | +26.2% |
| Other amounts receivable | 41 | €1,558 | - | -€1,558 | |
| Cash at bank and in hand | 54/58 | €168,942 | €199,065 | +€30,123 | +17.8% |
| Deferred charges and accrued income | 490/1 | €2,582 | €2,669 | +€88 | +3.4% |
| Total equity and liabilities | 10/49 | €270,412 | €305,222 | +€34,810 | +12.9% |
| Equity | 10/15 | €256,106 | €301,219 | +€45,114 | +17.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €223,710 | €268,710 | +€45,000 | +20.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €221,850 | €266,850 | +€45,000 | +20.3% |
| Profit (loss) carried forward | 14 | €13,796 | €13,909 | +€114 | +0.8% |
| Amounts payable | 17/49 | €14,307 | €4,003 | -€10,303 | -72.0% |
| Amounts payable within one year | 42/48 | €14,307 | €4,003 | -€10,303 | -72.0% |
| Trade debts | 44 | €750 | €244 | -€507 | -67.5% |
| Suppliers | 440/4 | €750 | €244 | -€507 | -67.5% |
| Taxes, remuneration and social security | 45 | €12,508 | €3,558 | -€8,950 | -71.6% |
| Taxes | 450/3 | €12,508 | €3,558 | -€8,950 | -71.6% |
| Other amounts payable | 47/48 | €1,048 | €201 | -€847 | -80.8% |
| Non-recurring operating income | 76A | - | €490 | +€490 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,832 | €9,566 | +€734 | +8.3% |
| Other operating charges | 640/8 | €1,410 | €1,455 | +€45 | +3.2% |
| Non-recurring operating charges | 66A | - | €127 | +€127 | |
| Gross operating margin | 9900 | €57,621 | €73,844 | +€16,223 | +28.2% |
| Operating profit (loss) | 9901 | €47,379 | €62,696 | +€15,317 | +32.3% |
| Financial income | 75/76B | €976 | €88 | -€888 | -91.0% |
| Recurring financial income | 75 | €976 | €88 | -€888 | -91.0% |
| Financial charges | 65/66B | €45 | €86 | +€41 | +92.0% |
| Recurring financial charges | 65 | €45 | €86 | +€41 | +92.0% |
| Profit (loss) for the period before taxes | 9903 | €48,311 | €62,698 | +€14,387 | +29.8% |
| Income taxes | 67/77 | €13,735 | €17,585 | +€3,850 | +28.0% |
| Profit (loss) for the period | 9904 | €34,576 | €45,114 | +€10,537 | +30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,576 | €45,114 | +€10,537 | +30.5% |
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 5 October 2026 via checked.be.