GLOBAL VISION: 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.
GLOBAL VISION
Largest movements
- Tangible fixed assets +€26,312
up €26,312 (+491.9%), from €5,349 to €31,661
of which Plant, machinery and equipment: +€24,668
- Cash +€9,491
up €9,491 (+28.4%), from €33,457 to €42,948
mainly Trade debts (+€24,832) and Net result for the year (+€14,282)
- Receivables within one year +€5,180
up €5,180 (+214.0%), from €2,421 to €7,600
of which Trade receivables: +€5,212
- Trade debts +€24,832
up €24,832 (+587.2%), from €4,229 to €29,061
- Reserves +€14,000
up €14,000 (+65.5%), from €21,360 to €35,360
- Gross operating margin +€14,990
up €14,990 (+124.3%), from €12,065 to €27,055
- Depreciation +€3,094
up €3,094 (+92.6%), from €3,340 to €6,434
- Taxes +€2,493
up €2,493 (+85.0%), from €2,934 to €5,426
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 | €64,007 | €104,423 | +€40,416 | +63.1% |
| Fixed assets | 21/28 | €5,349 | €31,661 | +€26,312 | +491.9% |
| Tangible fixed assets | 22/27 | €5,349 | €31,661 | +€26,312 | +491.9% |
| Plant, machinery and equipment | 23 | - | €24,668 | +€24,668 | |
| Furniture and vehicles | 24 | €3,191 | €889 | -€2,302 | -72.1% |
| Other tangible fixed assets | 26 | €2,159 | €6,105 | +€3,946 | +182.8% |
| Current assets | 29/58 | €58,658 | €72,761 | +€14,103 | +24.0% |
| Stocks and contracts in progress | 3 | €20,854 | €20,420 | -€433 | -2.1% |
| Stocks | 30/36 | €20,854 | €20,420 | -€433 | -2.1% |
| Amounts receivable within one year | 40/41 | €2,421 | €7,600 | +€5,180 | +214.0% |
| Trade receivables | 40 | €865 | €6,077 | +€5,212 | +602.5% |
| Other amounts receivable | 41 | €1,556 | €1,524 | -€32 | -2.1% |
| Cash at bank and in hand | 54/58 | €33,457 | €42,948 | +€9,491 | +28.4% |
| Deferred charges and accrued income | 490/1 | €1,927 | €1,793 | -€134 | -7.0% |
| Total equity and liabilities | 10/49 | €64,007 | €104,423 | +€40,416 | +63.1% |
| Equity | 10/15 | €58,451 | €72,734 | +€14,282 | +24.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,360 | €35,360 | +€14,000 | +65.5% |
| Distributable reserves | 133 | €21,360 | €35,360 | +€14,000 | +65.5% |
| Profit (loss) carried forward | 14 | €18,491 | €18,774 | +€282 | +1.5% |
| Amounts payable | 17/49 | €5,556 | €31,689 | +€26,133 | +470.3% |
| Amounts payable within one year | 42/48 | €5,556 | €31,689 | +€26,133 | +470.3% |
| Trade debts | 44 | €4,229 | €29,061 | +€24,832 | +587.2% |
| Suppliers | 440/4 | €4,229 | €29,061 | +€24,832 | +587.2% |
| Taxes, remuneration and social security | 45 | €1,322 | €1,773 | +€451 | +34.1% |
| Taxes | 450/3 | €1,322 | €1,773 | +€451 | +34.1% |
| Other amounts payable | 47/48 | €5 | €855 | +€850 | +15740.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,340 | €6,434 | +€3,094 | +92.6% |
| Other operating charges | 640/8 | €943 | €818 | -€126 | -13.3% |
| Gross operating margin | 9900 | €12,065 | €27,055 | +€14,990 | +124.3% |
| Operating profit (loss) | 9901 | €7,781 | €19,803 | +€12,022 | +154.5% |
| Financial income | 75/76B | €111 | €90 | -€20 | -18.5% |
| Recurring financial income | 75 | €111 | €90 | -€20 | -18.5% |
| Financial charges | 65/66B | €386 | €184 | -€202 | -52.3% |
| Recurring financial charges | 65 | €386 | €184 | -€202 | -52.3% |
| Profit (loss) for the period before taxes | 9903 | €7,506 | €19,709 | +€12,203 | +162.6% |
| Income taxes | 67/77 | €2,934 | €5,426 | +€2,493 | +85.0% |
| Profit (loss) for the period | 9904 | €4,572 | €14,282 | +€9,710 | +212.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,572 | €14,282 | +€9,710 | +212.4% |
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 3 October 2026 via checked.be.