Four Levels: 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.
Four Levels
Largest movements
- Financial fixed assets +€75,603
new in 2025: €75,603
- Receivables within one year -€72,412
down €72,412 (-72.8%), from €99,433 to €27,021
of which Other amounts receivable: -€81,281
- Cash +€42,830
up €42,830 (+104.1%), from €41,143 to €83,973
mainly Net result for the year (+€121,182) and Receivables within one year (+€72,412)
- Tangible fixed assets +€5,700
up €5,700 (+20.3%), from €28,076 to €33,775
of which Furniture and vehicles: +€5,320
- Profit (loss) carried forward +€121,182
up €121,182 (+249.6%), from €48,552 to €169,734
- Debts after one year -€96,000
no longer reported in 2025 (was €96,000)
- Tax, wage and social debts +€24,007
up €24,007 (+114.7%), from €20,927 to €44,934
- Trade debts +€2,425
up €2,425 (+191.7%), from €1,265 to €3,690
- Gross operating margin +€106,666
up €106,666 (+147.2%), from €72,460 to €179,125
- Taxes +€22,522
up €22,522 (+169.3%), from €13,302 to €35,824
- Depreciation +€3,528
up €3,528 (+42.5%), from €8,308 to €11,836
- Staff costs +€2,905
new in 2025: €2,905
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 | €171,202 | €221,391 | +€50,189 | +29.3% |
| Fixed assets | 21/28 | €28,076 | €109,379 | +€81,303 | +289.6% |
| Tangible fixed assets | 22/27 | €28,076 | €33,775 | +€5,700 | +20.3% |
| Plant, machinery and equipment | 23 | - | €1,907 | +€1,907 | |
| Furniture and vehicles | 24 | €16,300 | €21,620 | +€5,320 | +32.6% |
| Other tangible fixed assets | 26 | €11,776 | €10,248 | -€1,528 | -13.0% |
| Financial fixed assets | 28 | - | €75,603 | +€75,603 | |
| Current assets | 29/58 | €143,126 | €112,012 | -€31,114 | -21.7% |
| Amounts receivable within one year | 40/41 | €99,433 | €27,021 | -€72,412 | -72.8% |
| Trade receivables | 40 | €18,150 | €27,019 | +€8,869 | +48.9% |
| Other amounts receivable | 41 | €81,283 | €3 | -€81,281 | -100.0% |
| Cash at bank and in hand | 54/58 | €41,143 | €83,973 | +€42,830 | +104.1% |
| Deferred charges and accrued income | 490/1 | €2,550 | €1,018 | -€1,532 | -60.1% |
| Total equity and liabilities | 10/49 | €171,202 | €221,391 | +€50,189 | +29.3% |
| Equity | 10/15 | €50,552 | €171,734 | +€121,182 | +239.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,552 | €169,734 | +€121,182 | +249.6% |
| Amounts payable | 17/49 | €120,650 | €49,657 | -€70,993 | -58.8% |
| Amounts payable after more than one year | 17 | €96,000 | - | -€96,000 | |
| Financial debts | 170/4 | €96,000 | - | -€96,000 | |
| Amounts payable within one year | 42/48 | €22,192 | €48,663 | +€26,471 | +119.3% |
| Trade debts | 44 | €1,265 | €3,690 | +€2,425 | +191.7% |
| Suppliers | 440/4 | €1,265 | €3,690 | +€2,425 | +191.7% |
| Taxes, remuneration and social security | 45 | €20,927 | €44,934 | +€24,007 | +114.7% |
| Taxes | 450/3 | €20,927 | €44,934 | +€24,007 | +114.7% |
| Other amounts payable | 47/48 | - | €39 | +€39 | |
| Accrued charges and deferred income | 492/3 | €2,458 | €994 | -€1,464 | -59.6% |
| Remuneration, social security and pensions | 62 | - | €2,905 | +€2,905 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,308 | €11,836 | +€3,528 | +42.5% |
| Other operating charges | 640/8 | €841 | €1,989 | +€1,149 | +136.6% |
| Non-recurring operating charges | 66A | - | €4,536 | +€4,536 | |
| Gross operating margin | 9900 | €72,460 | €179,125 | +€106,666 | +147.2% |
| Operating profit (loss) | 9901 | €63,311 | €157,858 | +€94,547 | +149.3% |
| Financial income | 75/76B | €40 | €270 | +€230 | +573.1% |
| Recurring financial income | 75 | €40 | €270 | +€230 | +573.1% |
| Financial charges | 65/66B | €1,497 | €1,122 | -€375 | -25.1% |
| Recurring financial charges | 65 | €1,497 | €1,122 | -€375 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €61,854 | €157,006 | +€95,153 | +153.8% |
| Income taxes | 67/77 | €13,302 | €35,824 | +€22,522 | +169.3% |
| Profit (loss) for the period | 9904 | €48,552 | €121,182 | +€72,631 | +149.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,552 | €121,182 | +€72,631 | +149.6% |
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 10 October 2026 via checked.be.