Grégoire Beetz: 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.
Grégoire Beetz
Largest movements
- Receivables within one year +€26,133
up €26,133 (+250%), from €10,467 to €36,599
of which Trade receivables: +€13,888
- Cash -€14,657
down €14,657 (-50.8%), from €28,832 to €14,175
mainly Receivables within one year (-€26,133) and Other debts (-€14,612)
- Other debts -€14,612
down €14,612 (-94.6%), from €15,445 to €833
- Tax, wage and social debts +€12,970
up €12,970 (+179%), from €7,264 to €20,234
- Profit (loss) carried forward +€8,560
up €8,560 (+282%), from €3,037 to €11,597
- Trade debts +€5,328
up €5,328 (+30.8%), from €17,307 to €22,635
- Gross operating margin +€9,986
up €9,986 (+159%), from €6,272 to €16,258
- Taxes +€2,216
up €2,216 (+150%), from €1,475 to €3,692
- Depreciation +€1,053
up €1,053 (+347%), from €303 to €1,356
- Other operating charges +€599
new in 2025: €599
- Financial charges +€590
up €590 (+978%), from €60 to €650
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 | €45,053 | €57,299 | +€12,246 | +27.2% |
| Fixed assets | 21/28 | €3,509 | €3,796 | +€287 | +8.2% |
| Tangible fixed assets | 22/27 | €3,509 | €3,796 | +€287 | +8.2% |
| Furniture and vehicles | 24 | €2,206 | €2,931 | +€724 | +32.8% |
| Other tangible fixed assets | 26 | €1,303 | €865 | -€437 | -33.6% |
| Current assets | 29/58 | €41,544 | €53,503 | +€11,959 | +28.8% |
| Amounts receivable within one year | 40/41 | €10,467 | €36,599 | +€26,133 | +250% |
| Trade receivables | 40 | €10,467 | €24,355 | +€13,888 | +133% |
| Other amounts receivable | 41 | - | €12,244 | +€12,244 | |
| Cash at bank and in hand | 54/58 | €28,832 | €14,175 | -€14,657 | -50.8% |
| Deferred charges and accrued income | 490/1 | €2,245 | €2,728 | +€483 | +21.5% |
| Total equity and liabilities | 10/49 | €45,053 | €57,299 | +€12,246 | +27.2% |
| Equity | 10/15 | €5,037 | €13,597 | +€8,560 | +170% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,037 | €11,597 | +€8,560 | +282% |
| Amounts payable | 17/49 | €40,016 | €43,702 | +€3,686 | +9.2% |
| Amounts payable within one year | 42/48 | €40,016 | €43,702 | +€3,686 | +9.2% |
| Trade debts | 44 | €17,307 | €22,635 | +€5,328 | +30.8% |
| Suppliers | 440/4 | €17,307 | €22,635 | +€5,328 | +30.8% |
| Taxes, remuneration and social security | 45 | €7,264 | €20,234 | +€12,970 | +179% |
| Taxes | 450/3 | €7,264 | €20,234 | +€12,970 | +179% |
| Other amounts payable | 47/48 | €15,445 | €833 | -€14,612 | -94.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €303 | €1,356 | +€1,053 | +347% |
| Other operating charges | 640/8 | - | €599 | +€599 | |
| Non-recurring operating charges | 66A | €541 | €569 | +€29 | +5.3% |
| Gross operating margin | 9900 | €6,272 | €16,258 | +€9,986 | +159% |
| Operating profit (loss) | 9901 | €5,428 | €13,734 | +€8,305 | +153% |
| Financial income | 75/76B | €3 | €1 | -€2 | -69.8% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -69.8% |
| Financial charges | 65/66B | €60 | €650 | +€590 | +978% |
| Recurring financial charges | 65 | €60 | €650 | +€590 | +978% |
| Profit (loss) for the period before taxes | 9903 | €5,371 | €13,084 | +€7,713 | +144% |
| Income taxes | 67/77 | €1,475 | €3,692 | +€2,216 | +150% |
| Profit (loss) for the period | 9904 | €3,896 | €9,393 | +€5,496 | +141% |
| Profit (loss) for the period to be appropriated | 9905 | €3,896 | €9,393 | +€5,496 | +141% |
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 18 October 2026 via checked.be.