Inc: 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.
Inc
Largest movements
- Cash +€12,296
up €12,296 (+25.0%), from €49,234 to €61,530
mainly Trade debts (+€28,402) and Depreciation (+€13,497)
- Trade debts +€28,402
new in 2025: €28,402
- Debts after one year -€14,758
down €14,758 (-3.7%), from €395,803 to €381,046
of which Financial debts: -€14,758
- Profit (loss) carried forward +€12,890
up €12,890 (+119.7%), from €10,766 to €23,656
- Other debts -€11,023
down €11,023 (-24.0%), from €46,002 to €34,980
- Gross operating margin -€33,825
down €33,825 (-43.5%), from €77,688 to €43,862
- Depreciation -€29,338
down €29,338 (-68.5%), from €42,835 to €13,497
- Financial charges -€6,917
down €6,917 (-35.9%), from €19,263 to €12,345
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 | €477,289 | €491,146 | +€13,858 | +2.9% |
| Fixed assets | 21/28 | €428,055 | €428,349 | +€295 | +0.1% |
| Intangible fixed assets | 21 | - | €1,994 | +€1,994 | |
| Tangible fixed assets | 22/27 | €428,055 | €426,355 | -€1,700 | -0.4% |
| Land and buildings | 22 | €428,055 | €414,570 | -€13,485 | -3.2% |
| Furniture and vehicles | 24 | - | €6,920 | +€6,920 | |
| Other tangible fixed assets | 26 | - | €4,865 | +€4,865 | |
| Current assets | 29/58 | €49,234 | €62,797 | +€13,563 | +27.5% |
| Cash at bank and in hand | 54/58 | €49,234 | €61,530 | +€12,296 | +25.0% |
| Deferred charges and accrued income | 490/1 | - | €1,267 | +€1,267 | |
| Total equity and liabilities | 10/49 | €477,289 | €491,146 | +€13,858 | +2.9% |
| Equity | 10/15 | €15,766 | €28,656 | +€12,890 | +81.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,766 | €23,656 | +€12,890 | +119.7% |
| Amounts payable | 17/49 | €461,522 | €462,490 | +€968 | +0.2% |
| Amounts payable after more than one year | 17 | €395,803 | €381,046 | -€14,758 | -3.7% |
| Financial debts | 170/4 | €368,803 | €354,046 | -€14,758 | -4.0% |
| Other amounts payable | 178/9 | €27,000 | €27,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €62,894 | €81,362 | +€18,468 | +29.4% |
| Current portion of amounts payable after more than one year | 42 | €14,200 | €14,758 | +€558 | +3.9% |
| Trade debts | 44 | - | €28,402 | +€28,402 | |
| Suppliers | 440/4 | - | €28,402 | +€28,402 | |
| Taxes, remuneration and social security | 45 | €2,692 | €3,223 | +€531 | +19.7% |
| Taxes | 450/3 | €2,692 | €3,223 | +€531 | +19.7% |
| Other amounts payable | 47/48 | €46,002 | €34,980 | -€11,023 | -24.0% |
| Accrued charges and deferred income | 492/3 | €2,826 | €83 | -€2,743 | -97.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,835 | €13,497 | -€29,338 | -68.5% |
| Other operating charges | 640/8 | €2,132 | €1,926 | -€206 | -9.7% |
| Gross operating margin | 9900 | €77,688 | €43,862 | -€33,825 | -43.5% |
| Operating profit (loss) | 9901 | €32,720 | €28,440 | -€4,281 | -13.1% |
| Financial income | 75/76B | - | €18 | +€18 | |
| Recurring financial income | 75 | - | €18 | +€18 | |
| Financial charges | 65/66B | €19,263 | €12,345 | -€6,917 | -35.9% |
| Recurring financial charges | 65 | €19,263 | €12,345 | -€6,917 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | €13,458 | €16,113 | +€2,655 | +19.7% |
| Income taxes | 67/77 | €2,692 | €3,223 | +€531 | +19.7% |
| Profit (loss) for the period | 9904 | €10,766 | €12,890 | +€2,124 | +19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,766 | €12,890 | +€2,124 | +19.7% |
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 3 October 2026 via checked.be.