INFLECTION: 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.
INFLECTION
Largest movements
- Cash +€89,321
up €89,321 (+67.4%), from €132,437 to €221,758
mainly Other debts (+€236,153) and Net result for the year (+€83,670)
- Other debts +€236,153
new in 2025: €236,153
- Profit (loss) carried forward -€152,483
no longer reported in 2025 (was €152,483)
- Tax, wage and social debts +€3,751
up €3,751 (+48.1%), from €7,803 to €11,554
of which Taxes: +€1,956
- Gross operating margin +€17,378
up €17,378 (+18.9%), from €92,030 to €109,408
- Taxes +€4,051
up €4,051 (+21.0%), from €19,289 to €23,339
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 | €163,349 | €252,050 | +€88,701 | +54.3% |
| Fixed assets | 21/28 | €792 | €456 | -€336 | -42.4% |
| Tangible fixed assets | 22/27 | €792 | €456 | -€336 | -42.4% |
| Furniture and vehicles | 24 | €792 | €456 | -€336 | -42.4% |
| Current assets | 29/58 | €162,556 | €251,594 | +€89,037 | +54.8% |
| Amounts receivable within one year | 40/41 | €30,119 | €29,019 | -€1,101 | -3.7% |
| Trade receivables | 40 | €25,294 | €29,019 | +€3,724 | +14.7% |
| Other amounts receivable | 41 | €4,825 | - | -€4,825 | |
| Cash at bank and in hand | 54/58 | €132,437 | €221,758 | +€89,321 | +67.4% |
| Deferred charges and accrued income | 490/1 | - | €817 | +€817 | |
| Total equity and liabilities | 10/49 | €163,349 | €252,050 | +€88,701 | +54.3% |
| Equity | 10/15 | €155,483 | €3,000 | -€152,483 | -98.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,483 | - | -€152,483 | |
| Amounts payable | 17/49 | €7,866 | €249,050 | +€241,184 | +3066.3% |
| Amounts payable within one year | 42/48 | €7,866 | €249,050 | +€241,184 | +3066.3% |
| Trade debts | 44 | €63 | €1,343 | +€1,280 | +2030.4% |
| Suppliers | 440/4 | €63 | €1,343 | +€1,280 | +2030.4% |
| Taxes, remuneration and social security | 45 | €7,803 | €11,554 | +€3,751 | +48.1% |
| Taxes | 450/3 | €7,803 | €9,759 | +€1,956 | +25.1% |
| Remuneration and social security | 454/9 | - | €1,795 | +€1,795 | |
| Other amounts payable | 47/48 | - | €236,153 | +€236,153 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €215 | €336 | +€121 | +56.0% |
| Other operating charges | 640/8 | €1,576 | €1,961 | +€385 | +24.4% |
| Gross operating margin | 9900 | €92,030 | €109,408 | +€17,378 | +18.9% |
| Operating profit (loss) | 9901 | €90,239 | €107,112 | +€16,873 | +18.7% |
| Financial charges | 65/66B | €95 | €103 | +€8 | +8.3% |
| Recurring financial charges | 65 | €95 | €103 | +€8 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €90,144 | €107,009 | +€16,865 | +18.7% |
| Income taxes | 67/77 | €19,289 | €23,339 | +€4,051 | +21.0% |
| Profit (loss) for the period | 9904 | €70,855 | €83,670 | +€12,814 | +18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €70,855 | €83,670 | +€12,814 | +18.1% |
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 5 October 2026 via checked.be.