FLYING WHEEL: 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.
FLYING WHEEL
Largest movements
- Cash +€32,098
up €32,098 (+44.1%), from €72,713 to €104,812
mainly Receivables within one year (+€30,255) and Net result for the year (+€28,524)
- Receivables within one year -€30,255
down €30,255 (-94.9%), from €31,888 to €1,634
of which Trade receivables: -€30,255
- Stocks and contracts -€3,441
down €3,441 (-100%), from €3,441 to €0
- Tangible fixed assets -€1,944
down €1,944 (-10.9%), from €17,903 to €15,959
of which Furniture and vehicles: -€3,029
- Reserves +€28,524
up €28,524 (+71.4%), from €39,930 to €68,454
of which Distributable reserves: +€28,524
- Other debts -€15,598
down €15,598 (-54.1%), from €28,812 to €13,214
- Tax, wage and social debts -€9,804
down €9,804 (-31.1%), from €31,500 to €21,695
- Current portion of long-term debt -€6,500
down €6,500 (-100%), from €6,500 to €0
- Other operating charges +€11,190
up €11,190 (+657%), from €1,702 to €12,892
- Taxes -€5,900
down €5,900 (-26.4%), from €22,390 to €16,489
- Gross operating margin -€3,637
down €3,637 (-5.4%), from €67,953 to €64,317
- Depreciation +€3,017
up €3,017 (+110%), from €2,734 to €5,751
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
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 | €125,946 | €122,405 | -€3,542 | -2.8% |
| Fixed assets | 21/28 | €17,903 | €15,959 | -€1,944 | -10.9% |
| Tangible fixed assets | 22/27 | €17,903 | €15,959 | -€1,944 | -10.9% |
| Plant, machinery and equipment | 23 | - | €1,084 | +€1,084 | |
| Furniture and vehicles | 24 | €17,903 | €14,875 | -€3,029 | -16.9% |
| Current assets | 29/58 | €108,043 | €106,445 | -€1,598 | -1.5% |
| Stocks and contracts in progress | 3 | €3,441 | €0 | -€3,441 | -100% |
| Stocks | 30/36 | €3,441 | €0 | -€3,441 | -100% |
| Amounts receivable within one year | 40/41 | €31,888 | €1,634 | -€30,255 | -94.9% |
| Trade receivables | 40 | €31,888 | €1,634 | -€30,255 | -94.9% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €72,713 | €104,812 | +€32,098 | +44.1% |
| Total equity and liabilities | 10/49 | €125,946 | €122,405 | -€3,542 | -2.8% |
| Equity | 10/15 | €58,530 | €87,054 | +€28,524 | +48.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,930 | €68,454 | +€28,524 | +71.4% |
| 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 | €38,070 | €66,594 | +€28,524 | +74.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €67,417 | €35,351 | -€32,066 | -47.6% |
| Amounts payable within one year | 42/48 | €67,417 | €35,351 | -€32,066 | -47.6% |
| Current portion of amounts payable after more than one year | 42 | €6,500 | €0 | -€6,500 | -100% |
| Trade debts | 44 | €605 | €442 | -€163 | -27.0% |
| Suppliers | 440/4 | €605 | €442 | -€163 | -27.0% |
| Taxes, remuneration and social security | 45 | €31,500 | €21,695 | -€9,804 | -31.1% |
| Taxes | 450/3 | €31,500 | €21,695 | -€9,804 | -31.1% |
| Other amounts payable | 47/48 | €28,812 | €13,214 | -€15,598 | -54.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,734 | €5,751 | +€3,017 | +110% |
| Other operating charges | 640/8 | €1,702 | €12,892 | +€11,190 | +657% |
| Gross operating margin | 9900 | €67,953 | €64,317 | -€3,637 | -5.4% |
| Operating profit (loss) | 9901 | €63,517 | €45,674 | -€17,844 | -28.1% |
| Financial income | 75/76B | €178 | €665 | +€487 | +273% |
| Recurring financial income | 75 | €178 | €665 | +€487 | +273% |
| Financial charges | 65/66B | €1,818 | €1,326 | -€492 | -27.1% |
| Recurring financial charges | 65 | €1,818 | €1,326 | -€492 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €61,878 | €45,014 | -€16,864 | -27.3% |
| Income taxes | 67/77 | €22,390 | €16,489 | -€5,900 | -26.4% |
| Profit (loss) for the period | 9904 | €39,488 | €28,524 | -€10,964 | -27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €39,488 | €28,524 | -€10,964 | -27.8% |
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 29 October 2026 via checked.be.