IMPROVE: 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.
IMPROVE
Largest movements
- Cash +€38,502
up €38,502 (+26.2%), from €147,071 to €185,573
mainly Net result for the year (+€29,439) and Receivables within one year (+€19,241)
- Receivables within one year -€19,241
down €19,241 (-63.3%), from €30,404 to €11,163
of which Trade receivables: -€12,627
- Tangible fixed assets -€5,812
down €5,812 (-24.1%), from €24,159 to €18,347
of which Furniture and vehicles: -€4,149
- Reserves +€29,439
up €29,439 (+17.0%), from €172,850 to €202,290
- Other debts -€18,443
down €18,443 (-100.0%), from €18,443 to €0
- Tax, wage and social debts +€4,428
up €4,428 (+237.3%), from €1,866 to €6,293
- Gross operating margin -€6,408
down €6,408 (-10.7%), from €59,748 to €53,341
- Taxes -€1,182
down €1,182 (-6.9%), from €17,077 to €15,896
- Other operating charges -€1,045
down €1,045 (-51.0%), from €2,051 to €1,006
- Depreciation -€796
down €796 (-9.3%), from €8,525 to €7,729
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 | €202,785 | €216,573 | +€13,788 | +6.8% |
| Fixed assets | 21/28 | €24,258 | €18,446 | -€5,812 | -24.0% |
| Tangible fixed assets | 22/27 | €24,159 | €18,347 | -€5,812 | -24.1% |
| Plant, machinery and equipment | 23 | €828 | €0 | -€828 | -100.0% |
| Furniture and vehicles | 24 | €19,653 | €15,505 | -€4,149 | -21.1% |
| Other tangible fixed assets | 26 | €3,678 | €2,842 | -€835 | -22.7% |
| Financial fixed assets | 28 | €99 | €99 | = | 0.0% |
| Current assets | 29/58 | €178,527 | €198,127 | +€19,600 | +11.0% |
| Amounts receivable within one year | 40/41 | €30,404 | €11,163 | -€19,241 | -63.3% |
| Trade receivables | 40 | €20,003 | €7,376 | -€12,627 | -63.1% |
| Other amounts receivable | 41 | €10,401 | €3,787 | -€6,615 | -63.6% |
| Cash at bank and in hand | 54/58 | €147,071 | €185,573 | +€38,502 | +26.2% |
| Deferred charges and accrued income | 490/1 | €1,052 | €1,391 | +€339 | +32.2% |
| Total equity and liabilities | 10/49 | €202,785 | €216,573 | +€13,788 | +6.8% |
| Equity | 10/15 | €179,082 | €208,521 | +€29,439 | +16.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €172,850 | €202,290 | +€29,439 | +17.0% |
| Distributable reserves | 133 | €172,850 | €202,290 | +€29,439 | +17.0% |
| Profit (loss) carried forward | 14 | €31 | €31 | = | 0.0% |
| Amounts payable | 17/49 | €23,703 | €8,052 | -€15,651 | -66.0% |
| Amounts payable within one year | 42/48 | €23,703 | €8,052 | -€15,651 | -66.0% |
| Trade debts | 44 | €3,394 | €1,758 | -€1,636 | -48.2% |
| Suppliers | 440/4 | €3,394 | €1,758 | -€1,636 | -48.2% |
| Taxes, remuneration and social security | 45 | €1,866 | €6,293 | +€4,428 | +237.3% |
| Taxes | 450/3 | €1,866 | €6,293 | +€4,428 | +237.3% |
| Other amounts payable | 47/48 | €18,443 | €0 | -€18,443 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,525 | €7,729 | -€796 | -9.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,051 | €1,006 | -€1,045 | -51.0% |
| Gross operating margin | 9900 | €59,748 | €53,341 | -€6,408 | -10.7% |
| Operating profit (loss) | 9901 | €49,173 | €44,606 | -€4,566 | -9.3% |
| Financial income | 75/76B | €708 | €873 | +€165 | +23.2% |
| Recurring financial income | 75 | €708 | €873 | +€165 | +23.2% |
| Financial charges | 65/66B | €188 | €144 | -€44 | -23.3% |
| Recurring financial charges | 65 | €188 | €144 | -€44 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €49,693 | €45,335 | -€4,358 | -8.8% |
| Income taxes | 67/77 | €17,077 | €15,896 | -€1,182 | -6.9% |
| Profit (loss) for the period | 9904 | €32,615 | €29,439 | -€3,176 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,615 | €29,439 | -€3,176 | -9.7% |
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 2 October 2026 via checked.be.