IMPROVE: 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.
IMPROVE
Largest movements
- Receivables within one year +€257,248
up €257,248 (+73.8%), from €348,440 to €605,688
of which Other amounts receivable: +€327,549
- Reserves +€267,419
up €267,419 (+40.6%), from €658,255 to €925,674
of which Distributable reserves: +€267,419
- Other debts -€14,730
down €14,730 (-14.8%), from €99,573 to €84,843
- Financial income -€44,923
down €44,923 (-12.7%), from €353,662 to €308,739
- Turnover -€42,000
down €42,000 (-43.3%), from €97,000 to €55,000
- Gross operating margin -€39,447
down €39,447 (-48.0%), from €82,177 to €42,729
- Financial charges -€6,495
down €6,495 (-77.2%), from €8,411 to €1,916
- Staff costs +€4,857
up €4,857 (+6.4%), from €76,359 to €81,216
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.
Derived cash bridge
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 | €807,990 | €1,059,540 | +€251,550 | +31.1% |
| Fixed assets | 21/28 | €450,000 | €450,000 | = | 0.0% |
| Financial fixed assets | 28 | €450,000 | €450,000 | = | 0.0% |
| Current assets | 29/58 | €357,990 | €609,540 | +€251,550 | +70.3% |
| Amounts receivable within one year | 40/41 | €348,440 | €605,688 | +€257,248 | +73.8% |
| Trade receivables | 40 | €70,797 | €496 | -€70,301 | -99.3% |
| Other amounts receivable | 41 | €277,643 | €605,192 | +€327,549 | +118% |
| Cash at bank and in hand | 54/58 | €3,266 | €669 | -€2,597 | -79.5% |
| Deferred charges and accrued income | 490/1 | €6,285 | €3,183 | -€3,102 | -49.4% |
| Total equity and liabilities | 10/49 | €807,990 | €1,059,540 | +€251,550 | +31.1% |
| Equity | 10/15 | €670,755 | €938,174 | +€267,419 | +39.9% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €658,255 | €925,674 | +€267,419 | +40.6% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €655,755 | €923,174 | +€267,419 | +40.8% |
| Amounts payable | 17/49 | €137,235 | €121,366 | -€15,869 | -11.6% |
| Amounts payable within one year | 42/48 | €137,235 | €121,366 | -€15,869 | -11.6% |
| Trade debts | 44 | €6,857 | €7,023 | +€165 | +2.4% |
| Suppliers | 440/4 | €6,857 | €7,023 | +€165 | +2.4% |
| Taxes, remuneration and social security | 45 | €30,805 | €29,500 | -€1,304 | -4.2% |
| Taxes | 450/3 | €16,765 | €14,884 | -€1,881 | -11.2% |
| Remuneration and social security | 454/9 | €14,039 | €14,616 | +€577 | +4.1% |
| Other amounts payable | 47/48 | €99,573 | €84,843 | -€14,730 | -14.8% |
| Turnover | 70 | €97,000 | €55,000 | -€42,000 | -43.3% |
| Remuneration, social security and pensions | 62 | €76,359 | €81,216 | +€4,857 | +6.4% |
| Other operating charges | 640/8 | €780 | €840 | +€59 | +7.6% |
| Gross operating margin | 9900 | €82,177 | €42,729 | -€39,447 | -48.0% |
| Operating profit (loss) | 9901 | €5,037 | -€39,326 | -€44,363 | |
| Financial income | 75/76B | €353,662 | €308,739 | -€44,923 | -12.7% |
| Recurring financial income | 75 | €353,662 | €308,739 | -€44,923 | -12.7% |
| Financial charges | 65/66B | €8,411 | €1,916 | -€6,495 | -77.2% |
| Recurring financial charges | 65 | €8,411 | €1,916 | -€6,495 | -77.2% |
| Profit (loss) for the period before taxes | 9903 | €350,288 | €267,497 | -€82,791 | -23.6% |
| Income taxes | 67/77 | €321 | €78 | -€242 | -75.6% |
| Profit (loss) for the period | 9904 | €349,968 | €267,419 | -€82,549 | -23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €349,968 | €267,419 | -€82,549 | -23.6% |
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 21 October 2026 via checked.be.