Focus: 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.
Focus
Largest movements
- Cash +€118,570
up €118,570 (+56.6%), from €209,356 to €327,926
mainly Net result for the year (+€187,472) and Tax, wage and social debts (+€49,277)
- Current investments +€110,000
new in 2025: €110,000
- Deferred charges and accrued income +€4,977
up €4,977 (+10.8%), from €46,187 to €51,163
- Reserves +€186,613
up €186,613 (+96.3%), from €193,860 to €380,473
- Tax, wage and social debts +€49,277
up €49,277 (+82.8%), from €59,508 to €108,785
of which Taxes: +€49,277
- Gross operating margin +€30,298
up €30,298 (+14.1%), from €215,205 to €245,502
- Taxes +€7,881
up €7,881 (+15.7%), from €50,141 to €58,022
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 | €259,523 | €491,568 | +€232,045 | +89.4% |
| Fixed assets | 21/28 | €3,980 | €2,478 | -€1,502 | -37.7% |
| Tangible fixed assets | 22/27 | €3,980 | €2,478 | -€1,502 | -37.7% |
| Furniture and vehicles | 24 | €3,980 | €2,478 | -€1,502 | -37.7% |
| Current assets | 29/58 | €255,542 | €489,089 | +€233,547 | +91.4% |
| Current investments | 50/53 | - | €110,000 | +€110,000 | |
| Cash at bank and in hand | 54/58 | €209,356 | €327,926 | +€118,570 | +56.6% |
| Deferred charges and accrued income | 490/1 | €46,187 | €51,163 | +€4,977 | +10.8% |
| Total equity and liabilities | 10/49 | €259,523 | €491,568 | +€232,045 | +89.4% |
| Equity | 10/15 | €194,360 | €380,973 | +€186,613 | +96.0% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €193,860 | €380,473 | +€186,613 | +96.3% |
| Distributable reserves | 133 | €193,860 | €380,473 | +€186,613 | +96.3% |
| Amounts payable | 17/49 | €65,163 | €110,594 | +€45,432 | +69.7% |
| Amounts payable within one year | 42/48 | €64,764 | €110,196 | +€45,432 | +70.1% |
| Financial debts | 43 | - | €9 | +€9 | |
| Credit institutions | 430/8 | - | €9 | +€9 | |
| Trade debts | 44 | €4,069 | €60 | -€4,008 | -98.5% |
| Suppliers | 440/4 | €4,069 | €60 | -€4,008 | -98.5% |
| Taxes, remuneration and social security | 45 | €59,508 | €108,785 | +€49,277 | +82.8% |
| Taxes | 450/3 | €58,358 | €107,635 | +€49,277 | +84.4% |
| Remuneration and social security | 454/9 | €1,150 | €1,150 | = | 0.0% |
| Other amounts payable | 47/48 | €1,188 | €1,342 | +€154 | +13.0% |
| Accrued charges and deferred income | 492/3 | €399 | €399 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €510 | €1,502 | +€992 | +194.7% |
| Other operating charges | 640/8 | €204 | €211 | +€7 | +3.2% |
| Gross operating margin | 9900 | €215,205 | €245,502 | +€30,298 | +14.1% |
| Operating profit (loss) | 9901 | €214,490 | €243,789 | +€29,299 | +13.7% |
| Financial income | 75/76B | €78 | €1,758 | +€1,680 | +2153.2% |
| Recurring financial income | 75 | €78 | €1,758 | +€1,680 | +2153.2% |
| Financial charges | 65/66B | €44 | €53 | +€10 | +22.8% |
| Recurring financial charges | 65 | €44 | €53 | +€10 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | €214,525 | €245,494 | +€30,969 | +14.4% |
| Income taxes | 67/77 | €50,141 | €58,022 | +€7,881 | +15.7% |
| Profit (loss) for the period | 9904 | €164,384 | €187,472 | +€23,088 | +14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €164,384 | €187,472 | +€23,088 | +14.0% |
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.