GROWTHPAD: 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.
GROWTHPAD
Largest movements
- Cash +€25,894
up €25,894 (+84.0%), from €30,824 to €56,718
mainly Net result for the year (+€53,562) and Trade debts (+€8,852)
- Receivables within one year -€2,744
down €2,744 (-8.3%), from €32,895 to €30,151
of which Trade receivables: -€2,758
- Trade debts +€8,852
up €8,852 (+327.1%), from €2,706 to €11,558
- Other debts +€8,723
up €8,723 (+36.1%), from €24,153 to €32,875
- Tax, wage and social debts +€2,013
up €2,013 (+8.9%), from €22,567 to €24,579
- Accrued charges and deferred income +€1,333
up €1,333 (+260.2%), from €512 to €1,845
- Reserves +€1,062
up €1,062 (+153.7%), from €691 to €1,753
- Gross operating margin +€24,535
up €24,535 (+44.1%), from €55,592 to €80,126
- Taxes +€5,550
up €5,550 (+36.6%), from €15,181 to €20,731
- Financial charges +€2,387
up €2,387 (+381.5%), from €626 to €3,013
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 | €77,916 | €99,938 | +€22,022 | +28.3% |
| Fixed assets | 21/28 | €12,400 | €11,613 | -€787 | -6.3% |
| Tangible fixed assets | 22/27 | €12,400 | €11,613 | -€787 | -6.3% |
| Plant, machinery and equipment | 23 | €4,353 | €3,769 | -€584 | -13.4% |
| Furniture and vehicles | 24 | €8,046 | €7,844 | -€202 | -2.5% |
| Current assets | 29/58 | €65,516 | €88,325 | +€22,809 | +34.8% |
| Amounts receivable within one year | 40/41 | €32,895 | €30,151 | -€2,744 | -8.3% |
| Trade receivables | 40 | €32,810 | €30,051 | -€2,758 | -8.4% |
| Other amounts receivable | 41 | €85 | €99 | +€14 | +16.8% |
| Cash at bank and in hand | 54/58 | €30,824 | €56,718 | +€25,894 | +84.0% |
| Deferred charges and accrued income | 490/1 | €1,797 | €1,456 | -€341 | -19.0% |
| Total equity and liabilities | 10/49 | €77,916 | €99,938 | +€22,022 | +28.3% |
| Equity | 10/15 | €19,291 | €20,353 | +€1,062 | +5.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €691 | €1,753 | +€1,062 | +153.7% |
| Distributable reserves | 133 | €691 | €1,753 | +€1,062 | +153.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €58,625 | €79,584 | +€20,960 | +35.8% |
| Amounts payable within one year | 42/48 | €58,112 | €77,739 | +€19,627 | +33.8% |
| Financial debts | 43 | €8,687 | €8,726 | +€39 | +0.5% |
| Credit institutions | 430/8 | €8,687 | €8,726 | +€39 | +0.5% |
| Trade debts | 44 | €2,706 | €11,558 | +€8,852 | +327.1% |
| Suppliers | 440/4 | €2,706 | €11,558 | +€8,852 | +327.1% |
| Taxes, remuneration and social security | 45 | €22,567 | €24,579 | +€2,013 | +8.9% |
| Taxes | 450/3 | €22,567 | €24,579 | +€2,013 | +8.9% |
| Other amounts payable | 47/48 | €24,153 | €32,875 | +€8,723 | +36.1% |
| Accrued charges and deferred income | 492/3 | €512 | €1,845 | +€1,333 | +260.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,236 | €2,433 | +€197 | +8.8% |
| Other operating charges | 640/8 | €653 | €669 | +€16 | +2.4% |
| Gross operating margin | 9900 | €55,592 | €80,126 | +€24,535 | +44.1% |
| Operating profit (loss) | 9901 | €52,702 | €77,024 | +€24,322 | +46.2% |
| Financial income | 75/76B | €111 | €281 | +€170 | +153.9% |
| Recurring financial income | 75 | €111 | €281 | +€170 | +153.9% |
| Financial charges | 65/66B | €626 | €3,013 | +€2,387 | +381.5% |
| Recurring financial charges | 65 | €626 | €3,013 | +€2,387 | +381.5% |
| Profit (loss) for the period before taxes | 9903 | €52,187 | €74,293 | +€22,106 | +42.4% |
| Income taxes | 67/77 | €15,181 | €20,731 | +€5,550 | +36.6% |
| Profit (loss) for the period | 9904 | €37,006 | €53,562 | +€16,556 | +44.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,006 | €53,562 | +€16,556 | +44.7% |
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 6 October 2026 via checked.be.