Ind.: 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.
Ind.
Largest movements
- Tangible fixed assets +€49,282
new in 2025: €49,282
- Cash +€35,144
up €35,144 (+57.4%), from €61,201 to €96,345
mainly Debts after one year (+€31,942) and Net result for the year (+€28,804)
- Receivables within one year -€6,891
no longer reported in 2025 (was €6,891)
of which Trade receivables: -€6,887
- Debts after one year +€31,942
new in 2025: €31,942
- Reserves +€28,804
up €28,804 (+57.3%), from €50,268 to €79,072
- Current portion of long-term debt +€13,360
new in 2025: €13,360
- Trade debts +€2,514
up €2,514 (+488.3%), from €515 to €3,029
- Tax, wage and social debts +€1,940
up €1,940 (+13.3%), from €14,598 to €16,538
- Depreciation +€19,200
new in 2025: €19,200
- Gross operating margin -€5,235
down €5,235 (-8.3%), from €63,340 to €58,105
- Taxes -€4,877
down €4,877 (-37.7%), from €12,923 to €8,047
- Financial charges +€2,087
up €2,087 (+2395.3%), from €87 to €2,174
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 | €68,091 | €146,212 | +€78,120 | +114.7% |
| Fixed assets | 21/28 | - | €49,282 | +€49,282 | |
| Tangible fixed assets | 22/27 | - | €49,282 | +€49,282 | |
| Furniture and vehicles | 24 | - | €49,282 | +€49,282 | |
| Current assets | 29/58 | €68,091 | €96,929 | +€28,838 | +42.4% |
| Amounts receivable within one year | 40/41 | €6,891 | - | -€6,891 | |
| Trade receivables | 40 | €6,887 | - | -€6,887 | |
| Other amounts receivable | 41 | €3 | - | -€3 | |
| Cash at bank and in hand | 54/58 | €61,201 | €96,345 | +€35,144 | +57.4% |
| Deferred charges and accrued income | 490/1 | - | €584 | +€584 | |
| Total equity and liabilities | 10/49 | €68,091 | €146,212 | +€78,120 | +114.7% |
| Equity | 10/15 | €51,268 | €80,072 | +€28,804 | +56.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €50,268 | €79,072 | +€28,804 | +57.3% |
| Distributable reserves | 133 | €50,268 | €79,072 | +€28,804 | +57.3% |
| Amounts payable | 17/49 | €16,823 | €66,140 | +€49,317 | +293.1% |
| Amounts payable after more than one year | 17 | - | €31,942 | +€31,942 | |
| Financial debts | 170/4 | - | €31,942 | +€31,942 | |
| Amounts payable within one year | 42/48 | €16,823 | €34,197 | +€17,374 | +103.3% |
| Current portion of amounts payable after more than one year | 42 | - | €13,360 | +€13,360 | |
| Trade debts | 44 | €515 | €3,029 | +€2,514 | +488.3% |
| Suppliers | 440/4 | €515 | €3,029 | +€2,514 | +488.3% |
| Taxes, remuneration and social security | 45 | €14,598 | €16,538 | +€1,940 | +13.3% |
| Taxes | 450/3 | €14,598 | €16,538 | +€1,940 | +13.3% |
| Other amounts payable | 47/48 | €1,710 | €1,271 | -€439 | -25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €19,200 | +€19,200 | |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €63,340 | €58,105 | -€5,235 | -8.3% |
| Operating profit (loss) | 9901 | €63,278 | €38,843 | -€24,436 | -38.6% |
| Financial income | 75/76B | €0 | €181 | +€181 | +301733.3% |
| Recurring financial income | 75 | €0 | €181 | +€181 | +301733.3% |
| Financial charges | 65/66B | €87 | €2,174 | +€2,087 | +2395.3% |
| Recurring financial charges | 65 | €87 | €2,174 | +€2,087 | +2395.3% |
| Profit (loss) for the period before taxes | 9903 | €63,191 | €36,850 | -€26,341 | -41.7% |
| Income taxes | 67/77 | €12,923 | €8,047 | -€4,877 | -37.7% |
| Profit (loss) for the period | 9904 | €50,268 | €28,804 | -€21,465 | -42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €50,268 | €28,804 | -€21,465 | -42.7% |
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.