IMPULSE YOUR BUSINESS CYCLE: what changed
IMPULSE YOUR BUSINESS CYCLE
Largest movements
- Current investments +€279,530
up €279,530 (+347%), from €80,470 to €360,000
- Cash -€264,470
down €264,470 (-55.9%), from €473,189 to €208,719
mainly Current investments (-€279,530) and Contributions, distributions and other (-€71,527)
- Receivables within one year -€27,815
down €27,815 (-83.0%), from €33,522 to €5,708
of which Trade receivables: -€32,385
- Deferred charges and accrued income +€18,950
up €18,950 (+707%), from €2,679 to €21,629
- Tangible fixed assets -€8,580
down €8,580 (-22.3%), from €38,481 to €29,902
of which Furniture and vehicles: -€8,418
- Reserves +€18,306
up €18,306 (+3.4%), from €542,580 to €560,885
- Debts after one year -€11,596
down €11,596 (-56.2%), from €20,618 to €9,022
- Other debts -€6,953
down €6,953 (-38.5%), from €18,040 to €11,087
- Financial income -€9,221
down €9,221 (-67.6%), from €13,647 to €4,426
- Gross operating margin +€5,138
up €5,138 (+4.0%), from €127,520 to €132,658
- Taxes -€2,236
down €2,236 (-6.1%), from €36,660 to €34,425
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €628,341 | €625,958 | -€2,383 | -0.4% |
| Fixed assets | 21/28 | €38,481 | €29,902 | -€8,580 | -22.3% |
| Tangible fixed assets | 22/27 | €38,481 | €29,902 | -€8,580 | -22.3% |
| Furniture and vehicles | 24 | €37,027 | €28,610 | -€8,418 | -22.7% |
| Other tangible fixed assets | 26 | €1,454 | €1,292 | -€162 | -11.2% |
| Current assets | 29/58 | €589,860 | €596,056 | +€6,196 | +1.1% |
| Amounts receivable within one year | 40/41 | €33,522 | €5,708 | -€27,815 | -83.0% |
| Trade receivables | 40 | €32,385 | - | -€32,385 | |
| Other amounts receivable | 41 | €1,138 | €5,708 | +€4,570 | +402% |
| Current investments | 50/53 | €80,470 | €360,000 | +€279,530 | +347% |
| Cash at bank and in hand | 54/58 | €473,189 | €208,719 | -€264,470 | -55.9% |
| Deferred charges and accrued income | 490/1 | €2,679 | €21,629 | +€18,950 | +707% |
| Total equity and liabilities | 10/49 | €628,341 | €625,958 | -€2,383 | -0.4% |
| Equity | 10/15 | €553,662 | €571,967 | +€18,306 | +3.3% |
| Contributions | 10/11 | €6,324 | €6,324 | = | 0.0% |
| Reserves | 13 | €542,580 | €560,885 | +€18,306 | +3.4% |
| Distributable reserves | 133 | €542,580 | €560,885 | +€18,306 | +3.4% |
| Profit (loss) carried forward | 14 | €4,758 | €4,758 | = | 0.0% |
| Amounts payable | 17/49 | €74,679 | €53,990 | -€20,689 | -27.7% |
| Amounts payable after more than one year | 17 | €20,618 | €9,022 | -€11,596 | -56.2% |
| Financial debts | 170/4 | €20,618 | €9,022 | -€11,596 | -56.2% |
| Amounts payable within one year | 42/48 | €53,591 | €44,968 | -€8,623 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | €11,120 | €11,596 | +€476 | +4.3% |
| Trade debts | 44 | €1,366 | €241 | -€1,125 | -82.4% |
| Suppliers | 440/4 | €1,366 | €241 | -€1,125 | -82.4% |
| Taxes, remuneration and social security | 45 | €23,065 | €22,044 | -€1,021 | -4.4% |
| Taxes | 450/3 | €20,065 | €22,044 | +€1,979 | +9.9% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Other amounts payable | 47/48 | €18,040 | €11,087 | -€6,953 | -38.5% |
| Accrued charges and deferred income | 492/3 | €470 | - | -€470 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,107 | €10,234 | +€127 | +1.3% |
| Other operating charges | 640/8 | €973 | €776 | -€197 | -20.2% |
| Gross operating margin | 9900 | €127,520 | €132,658 | +€5,138 | +4.0% |
| Operating profit (loss) | 9901 | €116,440 | €121,648 | +€5,208 | +4.5% |
| Financial income | 75/76B | €13,647 | €4,426 | -€9,221 | -67.6% |
| Recurring financial income | 75 | €13,647 | €4,426 | -€9,221 | -67.6% |
| Financial charges | 65/66B | €2,537 | €1,817 | -€721 | -28.4% |
| Recurring financial charges | 65 | €2,537 | €1,817 | -€721 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €127,549 | €124,257 | -€3,292 | -2.6% |
| Income taxes | 67/77 | €36,660 | €34,425 | -€2,236 | -6.1% |
| Profit (loss) for the period | 9904 | €90,889 | €89,833 | -€1,056 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €90,889 | €89,833 | -€1,056 | -1.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.