H21: 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.
H21
Largest movements
- Tangible fixed assets +€30,535
new in 2025: €30,535
- Cash +€16,794
up €16,794 (+76.2%), from €22,035 to €38,830
mainly Other debts (+€29,317) and Debts after one year (+€21,191)
- Receivables within one year -€14,554
down €14,554 (-87.7%), from €16,600 to €2,046
of which Trade receivables: -€15,600
- Deferred charges and accrued income -€883
down €883 (-88.5%), from €998 to €115
- Other debts +€29,317
up €29,317 (+10807.6%), from €271 to €29,588
- Reserves -€23,917
down €23,917 (-100.0%), from €23,917 to €0
- Debts after one year +€21,191
new in 2025: €21,191
- Current portion of long-term debt +€6,252
new in 2025: €6,252
- Tax, wage and social debts -€1,256
down €1,256 (-9.4%), from €13,363 to €12,107
of which Taxes: -€1,708
- Gross operating margin -€13,444
down €13,444 (-46.7%), from €28,779 to €15,336
- Depreciation +€6,639
new in 2025: €6,639
- Taxes -€4,298
down €4,298 (-74.7%), from €5,752 to €1,454
- Financial charges +€1,145
up €1,145 (+937.0%), from €122 to €1,267
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 | €39,633 | €71,526 | +€31,893 | +80.5% |
| Fixed assets | 21/28 | - | €30,535 | +€30,535 | |
| Tangible fixed assets | 22/27 | - | €30,535 | +€30,535 | |
| Furniture and vehicles | 24 | - | €30,535 | +€30,535 | |
| Current assets | 29/58 | €39,633 | €40,991 | +€1,358 | +3.4% |
| Amounts receivable within one year | 40/41 | €16,600 | €2,046 | -€14,554 | -87.7% |
| Trade receivables | 40 | €16,600 | €1,000 | -€15,600 | -94.0% |
| Other amounts receivable | 41 | €0 | €1,046 | +€1,046 | |
| Cash at bank and in hand | 54/58 | €22,035 | €38,830 | +€16,794 | +76.2% |
| Deferred charges and accrued income | 490/1 | €998 | €115 | -€883 | -88.5% |
| Total equity and liabilities | 10/49 | €39,633 | €71,526 | +€31,893 | +80.5% |
| Equity | 10/15 | €25,917 | €2,000 | -€23,917 | -92.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €23,917 | €0 | -€23,917 | -100.0% |
| Distributable reserves | 133 | €23,917 | €0 | -€23,917 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €13,717 | €69,526 | +€55,810 | +406.9% |
| Amounts payable after more than one year | 17 | - | €21,191 | +€21,191 | |
| Financial debts | 170/4 | - | €21,191 | +€21,191 | |
| Amounts payable within one year | 42/48 | €13,717 | €48,273 | +€34,557 | +251.9% |
| Current portion of amounts payable after more than one year | 42 | - | €6,252 | +€6,252 | |
| Trade debts | 44 | €83 | €327 | +€244 | +295.6% |
| Suppliers | 440/4 | €83 | €327 | +€244 | +295.6% |
| Taxes, remuneration and social security | 45 | €13,363 | €12,107 | -€1,256 | -9.4% |
| Taxes | 450/3 | €11,382 | €9,674 | -€1,708 | -15.0% |
| Remuneration and social security | 454/9 | €1,981 | €2,433 | +€452 | +22.8% |
| Other amounts payable | 47/48 | €271 | €29,588 | +€29,317 | +10807.6% |
| Accrued charges and deferred income | 492/3 | - | €62 | +€62 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,639 | +€6,639 | |
| Other operating charges | 640/8 | €878 | €636 | -€242 | -27.6% |
| Gross operating margin | 9900 | €28,779 | €15,336 | -€13,444 | -46.7% |
| Operating profit (loss) | 9901 | €27,901 | €8,061 | -€19,840 | -71.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €122 | €1,267 | +€1,145 | +937.0% |
| Recurring financial charges | 65 | €122 | €1,267 | +€1,145 | +937.0% |
| Profit (loss) for the period before taxes | 9903 | €27,779 | €6,794 | -€20,985 | -75.5% |
| Income taxes | 67/77 | €5,752 | €1,454 | -€4,298 | -74.7% |
| Profit (loss) for the period | 9904 | €22,027 | €5,340 | -€16,686 | -75.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,027 | €5,340 | -€16,686 | -75.8% |
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 11 October 2026 via checked.be.