FS&R: 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.
FS&R
Largest movements
- Cash +€35,793
up €35,793 (+78.3%), from €45,695 to €81,488
mainly Net result for the year (+€50,091) and Tax, wage and social debts (+€5,931)
- Tangible fixed assets +€13,498
up €13,498 (+130%), from €10,382 to €23,881
of which Plant, machinery and equipment: +€14,398
- Financial fixed assets +€5,751
up €5,751 (+14.9%), from €38,592 to €44,343
- Profit (loss) carried forward +€50,091
up €50,091 (+81.7%), from €61,306 to €111,397
- Tax, wage and social debts +€5,931
up €5,931 (+35.9%), from €16,541 to €22,471
- Financial charges -€10,568
down €10,568 (-89.3%), from €11,840 to €1,272
- Gross operating margin +€6,712
up €6,712 (+11.2%), from €59,956 to €66,669
- Taxes +€3,960
up €3,960 (+42.8%), from €9,256 to €13,216
- Other operating charges -€2,879
down €2,879 (-92.1%), from €3,126 to €247
- Depreciation -€691
down €691 (-25.8%), from €2,675 to €1,984
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 | €97,595 | €154,037 | +€56,442 | +57.8% |
| Fixed assets | 21/28 | €48,974 | €68,224 | +€19,250 | +39.3% |
| Tangible fixed assets | 22/27 | €10,382 | €23,881 | +€13,498 | +130% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €1,508 | €15,906 | +€14,398 | +955% |
| Furniture and vehicles | 24 | €8,874 | €7,974 | -€900 | -10.1% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €38,592 | €44,343 | +€5,751 | +14.9% |
| Current assets | 29/58 | €48,621 | €85,814 | +€37,192 | +76.5% |
| Amounts receivable within one year | 40/41 | €2,926 | €4,326 | +€1,399 | +47.8% |
| Trade receivables | 40 | €2,926 | €4,326 | +€1,399 | +47.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €45,695 | €81,488 | +€35,793 | +78.3% |
| Total equity and liabilities | 10/49 | €97,595 | €154,037 | +€56,442 | +57.8% |
| Equity | 10/15 | €63,806 | €113,897 | +€50,091 | +78.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,306 | €111,397 | +€50,091 | +81.7% |
| Amounts payable | 17/49 | €33,789 | €40,141 | +€6,351 | +18.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €33,789 | €40,141 | +€6,351 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €3,665 | €4,086 | +€421 | +11.5% |
| Suppliers | 440/4 | €3,665 | €4,086 | +€421 | +11.5% |
| Taxes, remuneration and social security | 45 | €16,541 | €22,471 | +€5,931 | +35.9% |
| Taxes | 450/3 | €16,541 | €22,471 | +€5,931 | +35.9% |
| Other amounts payable | 47/48 | €13,584 | €13,584 | = | 0.0% |
| Non-recurring operating income | 76A | €29,636 | €0 | -€29,636 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,675 | €1,984 | -€691 | -25.8% |
| Other operating charges | 640/8 | €3,126 | €247 | -€2,879 | -92.1% |
| Gross operating margin | 9900 | €59,956 | €66,669 | +€6,712 | +11.2% |
| Operating profit (loss) | 9901 | €54,156 | €64,438 | +€10,282 | +19.0% |
| Financial income | 75/76B | €12 | €140 | +€128 | +1,044% |
| Recurring financial income | 75 | €12 | €140 | +€128 | +1,044% |
| Financial charges | 65/66B | €11,840 | €1,272 | -€10,568 | -89.3% |
| Recurring financial charges | 65 | €11,840 | €1,272 | -€10,568 | -89.3% |
| Profit (loss) for the period before taxes | 9903 | €42,328 | €63,306 | +€20,978 | +49.6% |
| Income taxes | 67/77 | €9,256 | €13,216 | +€3,960 | +42.8% |
| Profit (loss) for the period | 9904 | €33,072 | €50,091 | +€17,018 | +51.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,072 | €50,091 | +€17,018 | +51.5% |
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 25 October 2026 via checked.be.