FORMULATE: 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.
FORMULATE
Largest movements
- Cash +€20,587
up €20,587 (+20.0%), from €103,159 to €123,746
mainly Net result for the year (+€42,108) and Tax, wage and social debts (+€3,322)
- Receivables within one year +€20,327
up €20,327 (+273%), from €7,435 to €27,762
of which Trade receivables: +€12,091
- Reserves +€42,108
up €42,108 (+51.9%), from €81,079 to €123,188
- Other debts -€4,222
no longer reported in 2025 (was €4,222)
- Tax, wage and social debts +€3,322
up €3,322 (+14.4%), from €22,999 to €26,321
- Gross operating margin -€7,157
down €7,157 (-12.1%), from €59,223 to €52,066
- Financial income +€1,209
up €1,209 (+1,616%), from €75 to €1,284
- Taxes -€1,182
down €1,182 (-10.0%), from €11,833 to €10,651
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 | €110,594 | €151,508 | +€40,914 | +37.0% |
| Current assets | 29/58 | €110,594 | €151,508 | +€40,914 | +37.0% |
| Amounts receivable within one year | 40/41 | €7,435 | €27,762 | +€20,327 | +273% |
| Trade receivables | 40 | €6,761 | €18,852 | +€12,091 | +179% |
| Other amounts receivable | 41 | €674 | €8,910 | +€8,235 | +1,221% |
| Cash at bank and in hand | 54/58 | €103,159 | €123,746 | +€20,587 | +20.0% |
| Total equity and liabilities | 10/49 | €110,594 | €151,508 | +€40,914 | +37.0% |
| Equity | 10/15 | €83,079 | €125,188 | +€42,108 | +50.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Contributions outside capital | 11 | €2,000 | - | -€2,000 | |
| Other | 1109/19 | €2,000 | - | -€2,000 | |
| Reserves | 13 | €81,079 | €123,188 | +€42,108 | +51.9% |
| Distributable reserves | 133 | €81,079 | €123,188 | +€42,108 | +51.9% |
| Amounts payable | 17/49 | €27,515 | €26,321 | -€1,194 | -4.3% |
| Amounts payable within one year | 42/48 | €27,515 | €26,321 | -€1,194 | -4.3% |
| Trade debts | 44 | €294 | - | -€294 | |
| Suppliers | 440/4 | €294 | - | -€294 | |
| Taxes, remuneration and social security | 45 | €22,999 | €26,321 | +€3,322 | +14.4% |
| Taxes | 450/3 | €22,999 | €26,321 | +€3,322 | +14.4% |
| Other amounts payable | 47/48 | €4,222 | - | -€4,222 | |
| Other operating charges | 640/8 | - | €216 | +€216 | |
| Gross operating margin | 9900 | €59,223 | €52,066 | -€7,157 | -12.1% |
| Operating profit (loss) | 9901 | €59,223 | €51,850 | -€7,374 | -12.5% |
| Financial income | 75/76B | €75 | €1,284 | +€1,209 | +1,616% |
| Recurring financial income | 75 | €75 | €1,284 | +€1,209 | +1,616% |
| Financial charges | 65/66B | €192 | €374 | +€183 | +95.2% |
| Recurring financial charges | 65 | €192 | €374 | +€183 | +95.2% |
| Profit (loss) for the period before taxes | 9903 | €59,107 | €52,759 | -€6,347 | -10.7% |
| Income taxes | 67/77 | €11,833 | €10,651 | -€1,182 | -10.0% |
| Profit (loss) for the period | 9904 | €47,274 | €42,108 | -€5,165 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €47,274 | €42,108 | -€5,165 | -10.9% |
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 27 October 2026 via checked.be.