ILLUSTRATION: 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.
ILLUSTRATION
Largest movements
- Cash +€20,586
up €20,586 (+134.8%), from €15,272 to €35,857
mainly Net result for the year (+€24,510) and Tax, wage and social debts (+€6,734)
- Receivables within one year -€1,985
down €1,985 (-26.5%), from €7,481 to €5,496
of which Other amounts receivable: -€2,429
- Tangible fixed assets -€1,324
down €1,324 (-5.7%), from €23,390 to €22,066
of which Leasing and similar rights: -€4,450
- Reserves +€22,954
up €22,954 (+674.5%), from €3,403 to €26,357
of which Distributable reserves: +€22,954
- Other debts -€16,793
down €16,793 (-71.9%), from €23,352 to €6,558
- Tax, wage and social debts +€6,734
up €6,734, from €0 to €6,734
- Trade debts +€4,053
up €4,053 (+2871.8%), from €141 to €4,194
- Current portion of long-term debt -€2,073
down €2,073 (-71.0%), from €2,917 to €845
- Gross operating margin +€15,556
up €15,556 (+70.1%), from €22,177 to €37,733
- Taxes +€5,629
up €5,629 (+4397.8%), from €128 to €5,757
- Financial charges +€852
up €852 (+163.9%), from €520 to €1,371
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 | €48,257 | €65,589 | +€17,332 | +35.9% |
| Fixed assets | 21/28 | €23,390 | €22,066 | -€1,324 | -5.7% |
| Tangible fixed assets | 22/27 | €23,390 | €22,066 | -€1,324 | -5.7% |
| Land and buildings | 22 | €16,519 | €18,960 | +€2,441 | +14.8% |
| Plant, machinery and equipment | 23 | - | €1,810 | +€1,810 | |
| Furniture and vehicles | 24 | €2,420 | €1,296 | -€1,125 | -46.5% |
| Leasing and similar rights | 25 | €4,450 | €0 | -€4,450 | -100.0% |
| Current assets | 29/58 | €24,867 | €43,523 | +€18,656 | +75.0% |
| Stocks and contracts in progress | 3 | €2,114 | €2,170 | +€55 | +2.6% |
| Stocks | 30/36 | €2,114 | €2,170 | +€55 | +2.6% |
| Amounts receivable within one year | 40/41 | €7,481 | €5,496 | -€1,985 | -26.5% |
| Trade receivables | 40 | €4,859 | €5,302 | +€443 | +9.1% |
| Other amounts receivable | 41 | €2,622 | €194 | -€2,429 | -92.6% |
| Cash at bank and in hand | 54/58 | €15,272 | €35,857 | +€20,586 | +134.8% |
| Total equity and liabilities | 10/49 | €48,257 | €65,589 | +€17,332 | +35.9% |
| Equity | 10/15 | €21,847 | €46,357 | +€24,510 | +112.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €3,403 | €26,357 | +€22,954 | +674.5% |
| Tax-exempt reserves | 132 | €1,403 | €1,403 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €24,954 | +€22,954 | +1147.7% |
| Profit (loss) carried forward | 14 | -€1,556 | €0 | +€1,556 | |
| Amounts payable | 17/49 | €26,410 | €19,231 | -€7,178 | -27.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €26,410 | €18,331 | -€8,079 | -30.6% |
| Current portion of amounts payable after more than one year | 42 | €2,917 | €845 | -€2,073 | -71.0% |
| Trade debts | 44 | €141 | €4,194 | +€4,053 | +2871.8% |
| Suppliers | 440/4 | €141 | €4,194 | +€4,053 | +2871.8% |
| Taxes, remuneration and social security | 45 | €0 | €6,734 | +€6,734 | |
| Taxes | 450/3 | €0 | €6,734 | +€6,734 | |
| Other amounts payable | 47/48 | €23,352 | €6,558 | -€16,793 | -71.9% |
| Accrued charges and deferred income | 492/3 | - | €901 | +€901 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,158 | €5,216 | +€59 | +1.1% |
| Other operating charges | 640/8 | €853 | €879 | +€26 | +3.0% |
| Gross operating margin | 9900 | €22,177 | €37,733 | +€15,556 | +70.1% |
| Operating profit (loss) | 9901 | €16,166 | €31,638 | +€15,472 | +95.7% |
| Financial income | 75/76B | €16 | €1 | -€15 | -95.5% |
| Recurring financial income | 75 | €16 | €1 | -€15 | -95.5% |
| Financial charges | 65/66B | €520 | €1,371 | +€852 | +163.9% |
| Recurring financial charges | 65 | €520 | €1,371 | +€852 | +163.9% |
| Profit (loss) for the period before taxes | 9903 | €15,662 | €30,268 | +€14,605 | +93.2% |
| Income taxes | 67/77 | €128 | €5,757 | +€5,629 | +4397.8% |
| Profit (loss) for the period | 9904 | €15,534 | €24,510 | +€8,976 | +57.8% |
| Profit (loss) for the period to be appropriated | 9905 | €15,534 | €24,510 | +€8,976 | +57.8% |
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 9 October 2026 via checked.be.