Home Study: 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.
Home Study
Largest movements
- Deferred charges and accrued income +€16,591
up €16,591 (+336.5%), from €4,931 to €21,521
- Cash +€10,981
up €10,981 (+44.7%), from €24,580 to €35,562
mainly Advances received (+€23,138) and Other debts (+€12,783)
- Receivables within one year +€6,285
up €6,285 (+56.4%), from €11,146 to €17,430
of which Other amounts receivable: +€3,345
- Stocks and contracts +€3,030
up €3,030 (+48.5%), from €6,250 to €9,280
of which Contracts in progress: +€3,200
- Advances received +€23,138
new in 2025: €23,138
- Other debts +€12,783
up €12,783 (+72.5%), from €17,638 to €30,422
- Trade debts +€3,602
up €3,602 (+79.5%), from €4,534 to €8,136
- Tax, wage and social debts -€3,563
down €3,563 (-66.8%), from €5,335 to €1,772
- Gross operating margin +€19,251
up €19,251, from -€14,676 to €4,575
- Financial charges +€782
up €782 (+218.7%), from €358 to €1,140
- Depreciation -€287
down €287 (-9.1%), from €3,147 to €2,860
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 | €59,725 | €95,761 | +€36,037 | +60.3% |
| Fixed assets | 21/28 | €12,818 | €11,968 | -€850 | -6.6% |
| Tangible fixed assets | 22/27 | €12,818 | €11,968 | -€850 | -6.6% |
| Plant, machinery and equipment | 23 | €10,211 | €8,234 | -€1,977 | -19.4% |
| Furniture and vehicles | 24 | €2,607 | €3,734 | +€1,127 | +43.2% |
| Current assets | 29/58 | €46,907 | €83,793 | +€36,887 | +78.6% |
| Stocks and contracts in progress | 3 | €6,250 | €9,280 | +€3,030 | +48.5% |
| Stocks | 30/36 | €2,750 | €2,580 | -€170 | -6.2% |
| Contracts in progress | 37 | €3,500 | €6,700 | +€3,200 | +91.4% |
| Amounts receivable within one year | 40/41 | €11,146 | €17,430 | +€6,285 | +56.4% |
| Trade receivables | 40 | €7,391 | €10,331 | +€2,939 | +39.8% |
| Other amounts receivable | 41 | €3,755 | €7,100 | +€3,345 | +89.1% |
| Cash at bank and in hand | 54/58 | €24,580 | €35,562 | +€10,981 | +44.7% |
| Deferred charges and accrued income | 490/1 | €4,931 | €21,521 | +€16,591 | +336.5% |
| Total equity and liabilities | 10/49 | €59,725 | €95,761 | +€36,037 | +60.3% |
| Equity | 10/15 | €32,218 | €32,295 | +€77 | +0.2% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €20,759 | €20,759 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,759 | €3,718 | -€17,041 | -82.1% |
| Reserves not available under the articles | 1311 | €3,718 | €3,718 | = | 0.0% |
| Other | 1319 | €17,041 | - | -€17,041 | |
| Distributable reserves | 133 | - | €17,041 | +€17,041 | |
| Profit (loss) carried forward | 14 | -€25,725 | -€25,648 | +€77 | +0.3% |
| Amounts payable | 17/49 | €27,507 | €63,467 | +€35,960 | +130.7% |
| Amounts payable within one year | 42/48 | €27,507 | €63,467 | +€35,960 | +130.7% |
| Trade debts | 44 | €4,534 | €8,136 | +€3,602 | +79.5% |
| Suppliers | 440/4 | €4,534 | €8,136 | +€3,602 | +79.5% |
| Advances received on contracts in progress | 46 | - | €23,138 | +€23,138 | |
| Taxes, remuneration and social security | 45 | €5,335 | €1,772 | -€3,563 | -66.8% |
| Taxes | 450/3 | €5,335 | €1,772 | -€3,563 | -66.8% |
| Other amounts payable | 47/48 | €17,638 | €30,422 | +€12,783 | +72.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,147 | €2,860 | -€287 | -9.1% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€14,676 | €4,575 | +€19,251 | |
| Operating profit (loss) | 9901 | -€18,336 | €1,188 | +€19,523 | |
| Financial income | 75/76B | €0 | €29 | +€29 | +20621.4% |
| Recurring financial income | 75 | €0 | €29 | +€29 | +20621.4% |
| Financial charges | 65/66B | €358 | €1,140 | +€782 | +218.7% |
| Recurring financial charges | 65 | €358 | €1,140 | +€782 | +218.7% |
| Profit (loss) for the period before taxes | 9903 | -€18,693 | €77 | +€18,770 | |
| Profit (loss) for the period | 9904 | -€18,693 | €77 | +€18,770 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,693 | €77 | +€18,770 |
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 4 October 2026 via checked.be.