HANDS-ON: 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.
HANDS-ON
Largest movements
- Cash +€140,991
up €140,991 (+329.9%), from €42,743 to €183,733
mainly Other debts (+€170,288) and Investment in fixed assets (net) (+€81,993)
- Financial fixed assets -€101,070
no longer reported in 2025 (was €101,070)
- Receivables within one year -€10,810
down €10,810 (-60.5%), from €17,880 to €7,070
of which Trade receivables: -€6,966
- Stocks and contracts +€9,917
up €9,917 (+26.9%), from €36,878 to €46,795
- Tangible fixed assets +€9,230
up €9,230 (+26.9%), from €34,357 to €43,587
of which Plant, machinery and equipment: +€14,010
- Other debts +€170,288
up €170,288 (+5033.4%), from €3,383 to €173,671
- Reserves -€122,474
down €122,474 (-56.3%), from €217,657 to €95,183
- Gross operating margin +€29,022
up €29,022 (+35.0%), from €82,842 to €111,864
- Taxes +€6,453
up €6,453 (+33.6%), from €19,208 to €25,661
- Financial income -€1,600
down €1,600 (-42.3%), from €3,782 to €2,183
of which Financial income: -€1,326
- Depreciation +€1,321
up €1,321 (+15.5%), from €8,526 to €9,847
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 | €234,106 | €282,430 | +€48,325 | +20.6% |
| Fixed assets | 21/28 | €135,427 | €43,587 | -€91,840 | -67.8% |
| Tangible fixed assets | 22/27 | €34,357 | €43,587 | +€9,230 | +26.9% |
| Plant, machinery and equipment | 23 | €12,697 | €26,707 | +€14,010 | +110.3% |
| Furniture and vehicles | 24 | €21,661 | €16,880 | -€4,781 | -22.1% |
| Financial fixed assets | 28 | €101,070 | - | -€101,070 | |
| Current assets | 29/58 | €98,679 | €238,843 | +€140,164 | +142.0% |
| Stocks and contracts in progress | 3 | €36,878 | €46,795 | +€9,917 | +26.9% |
| Stocks | 30/36 | €36,878 | €46,795 | +€9,917 | +26.9% |
| Amounts receivable within one year | 40/41 | €17,880 | €7,070 | -€10,810 | -60.5% |
| Trade receivables | 40 | €14,035 | €7,070 | -€6,966 | -49.6% |
| Other amounts receivable | 41 | €3,844 | - | -€3,844 | |
| Cash at bank and in hand | 54/58 | €42,743 | €183,733 | +€140,991 | +329.9% |
| Deferred charges and accrued income | 490/1 | €1,178 | €1,245 | +€67 | +5.7% |
| Total equity and liabilities | 10/49 | €234,106 | €282,430 | +€48,325 | +20.6% |
| Equity | 10/15 | €222,657 | €100,183 | -€122,474 | -55.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €217,657 | €95,183 | -€122,474 | -56.3% |
| Distributable reserves | 133 | €217,657 | €95,183 | -€122,474 | -56.3% |
| Amounts payable | 17/49 | €11,448 | €182,247 | +€170,799 | +1491.9% |
| Amounts payable within one year | 42/48 | €11,448 | €182,247 | +€170,799 | +1491.9% |
| Trade debts | 44 | €6,411 | €4,677 | -€1,734 | -27.0% |
| Suppliers | 440/4 | €6,411 | €4,677 | -€1,734 | -27.0% |
| Taxes, remuneration and social security | 45 | €1,654 | €3,899 | +€2,245 | +135.7% |
| Taxes | 450/3 | €1,654 | €3,899 | +€2,245 | +135.7% |
| Other amounts payable | 47/48 | €3,383 | €173,671 | +€170,288 | +5033.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,526 | €9,847 | +€1,321 | +15.5% |
| Other operating charges | 640/8 | €728 | €750 | +€21 | +2.9% |
| Gross operating margin | 9900 | €82,842 | €111,864 | +€29,022 | +35.0% |
| Operating profit (loss) | 9901 | €73,587 | €101,267 | +€27,680 | +37.6% |
| Financial income | 75/76B | €3,782 | €2,183 | -€1,600 | -42.3% |
| Recurring financial income | 75 | €3,508 | €2,183 | -€1,326 | -37.8% |
| Non-recurring financial income | 76B | €274 | - | -€274 | |
| Financial charges | 65/66B | €40 | €263 | +€223 | +561.0% |
| Recurring financial charges | 65 | €40 | €77 | +€37 | +93.6% |
| Non-recurring financial charges | 66B | - | €186 | +€186 | |
| Profit (loss) for the period before taxes | 9903 | €77,330 | €103,187 | +€25,857 | +33.4% |
| Income taxes | 67/77 | €19,208 | €25,661 | +€6,453 | +33.6% |
| Profit (loss) for the period | 9904 | €58,121 | €77,526 | +€19,405 | +33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €58,121 | €77,526 | +€19,405 | +33.4% |
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.