Go Gemba: 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.
Go Gemba
Largest movements
- Cash +€161,799
up €161,799 (+124.5%), from €129,967 to €291,766
mainly Other debts (+€226,556) and Net result for the year (+€126,558)
- Receivables within one year -€16,117
down €16,117 (-77.3%), from €20,850 to €4,733
of which Trade receivables: -€16,117
- Other debts +€226,556
up €226,556 (+13791.8%), from €1,643 to €228,199
- Reserves -€137,098
down €137,098 (-100.0%), from €137,098 to €0
- Tax, wage and social debts +€46,037
up €46,037 (+456.3%), from €10,089 to €56,126
- Advances received +€4,695
new in 2025: €4,695
- Gross operating margin -€9,314
down €9,314 (-5.1%), from €181,258 to €171,944
- Taxes +€2,312
up €2,312 (+5.7%), from €40,267 to €42,579
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 | €155,405 | €297,539 | +€142,134 | +91.5% |
| Fixed assets | 21/28 | €2,743 | €689 | -€2,054 | -74.9% |
| Tangible fixed assets | 22/27 | €2,743 | €689 | -€2,054 | -74.9% |
| Furniture and vehicles | 24 | €2,743 | €689 | -€2,054 | -74.9% |
| Current assets | 29/58 | €152,662 | €296,850 | +€144,188 | +94.4% |
| Amounts receivable within one year | 40/41 | €20,850 | €4,733 | -€16,117 | -77.3% |
| Trade receivables | 40 | €16,117 | €0 | -€16,117 | -100.0% |
| Other amounts receivable | 41 | €4,733 | €4,733 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €129,967 | €291,766 | +€161,799 | +124.5% |
| Deferred charges and accrued income | 490/1 | €1,845 | €351 | -€1,494 | -81.0% |
| Total equity and liabilities | 10/49 | €155,405 | €297,539 | +€142,134 | +91.5% |
| Equity | 10/15 | €142,098 | €5,000 | -€137,098 | -96.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €137,098 | €0 | -€137,098 | -100.0% |
| Distributable reserves | 133 | €137,098 | €0 | -€137,098 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €13,307 | €292,539 | +€279,232 | +2098.4% |
| Amounts payable within one year | 42/48 | €13,307 | €292,539 | +€279,232 | +2098.4% |
| Financial debts | 43 | €1,158 | €527 | -€631 | -54.5% |
| Credit institutions | 430/8 | €1,158 | €527 | -€631 | -54.5% |
| Trade debts | 44 | €418 | €2,992 | +€2,575 | +616.5% |
| Suppliers | 440/4 | €418 | €2,992 | +€2,575 | +616.5% |
| Advances received on contracts in progress | 46 | - | €4,695 | +€4,695 | |
| Taxes, remuneration and social security | 45 | €10,089 | €56,126 | +€46,037 | +456.3% |
| Taxes | 450/3 | €10,089 | €56,126 | +€46,037 | +456.3% |
| Other amounts payable | 47/48 | €1,643 | €228,199 | +€226,556 | +13791.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,853 | €2,054 | -€799 | -28.0% |
| Other operating charges | 640/8 | €513 | €527 | +€14 | +2.8% |
| Gross operating margin | 9900 | €181,258 | €171,944 | -€9,314 | -5.1% |
| Operating profit (loss) | 9901 | €177,892 | €169,363 | -€8,530 | -4.8% |
| Financial charges | 65/66B | €527 | €226 | -€301 | -57.2% |
| Recurring financial charges | 65 | €527 | €226 | -€301 | -57.2% |
| Profit (loss) for the period before taxes | 9903 | €177,365 | €169,137 | -€8,228 | -4.6% |
| Income taxes | 67/77 | €40,267 | €42,579 | +€2,312 | +5.7% |
| Profit (loss) for the period | 9904 | €137,098 | €126,558 | -€10,540 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €137,098 | €126,558 | -€10,540 | -7.7% |
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 8 October 2026 via checked.be.