INLINE BLUE: 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.
INLINE BLUE
Largest movements
- Cash +€87,682
up €87,682 (+23.4%), from €375,357 to €463,039
mainly Net result for the year (+€91,361) and Tax, wage and social debts (+€12,898)
- Receivables within one year +€19,016
up €19,016 (+186%), from €10,200 to €29,216
of which Trade receivables: +€18,901
- Reserves +€91,361
up €91,361 (+24.3%), from €375,201 to €466,562
- Tax, wage and social debts +€12,898
up €12,898 (+136%), from €9,471 to €22,369
- Gross operating margin -€101,498
down €101,498 (-45.2%), from €224,699 to €123,200
- Taxes -€14,949
down €14,949 (-32.7%), from €45,737 to €30,788
- Financial income -€4,261
no longer reported in 2025 (was €4,261)
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 | €386,925 | €492,679 | +€105,754 | +27.3% |
| Fixed assets | 21/28 | €1,367 | €424 | -€944 | -69.0% |
| Tangible fixed assets | 22/27 | €1,367 | €424 | -€944 | -69.0% |
| Plant, machinery and equipment | 23 | €134 | - | -€134 | |
| Furniture and vehicles | 24 | €1,233 | €424 | -€810 | -65.6% |
| Current assets | 29/58 | €385,557 | €492,255 | +€106,698 | +27.7% |
| Amounts receivable within one year | 40/41 | €10,200 | €29,216 | +€19,016 | +186% |
| Trade receivables | 40 | €1,669 | €20,570 | +€18,901 | +1,133% |
| Other amounts receivable | 41 | €8,531 | €8,646 | +€115 | +1.3% |
| Cash at bank and in hand | 54/58 | €375,357 | €463,039 | +€87,682 | +23.4% |
| Total equity and liabilities | 10/49 | €386,925 | €492,679 | +€105,754 | +27.3% |
| Equity | 10/15 | €377,201 | €468,562 | +€91,361 | +24.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €375,201 | €466,562 | +€91,361 | +24.3% |
| Distributable reserves | 133 | €375,201 | €466,562 | +€91,361 | +24.3% |
| Amounts payable | 17/49 | €9,723 | €24,117 | +€14,393 | +148% |
| Amounts payable within one year | 42/48 | €9,723 | €24,117 | +€14,393 | +148% |
| Financial debts | 43 | €11 | €10 | -€1 | -9.3% |
| Credit institutions | 430/8 | €11 | €10 | -€1 | -9.3% |
| Trade debts | 44 | €218 | €1,714 | +€1,496 | +687% |
| Suppliers | 440/4 | €218 | €1,714 | +€1,496 | +687% |
| Taxes, remuneration and social security | 45 | €9,471 | €22,369 | +€12,898 | +136% |
| Taxes | 450/3 | €9,471 | €22,369 | +€12,898 | +136% |
| Other amounts payable | 47/48 | €24 | €24 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,058 | €944 | -€114 | -10.8% |
| Gross operating margin | 9900 | €224,699 | €123,200 | -€101,498 | -45.2% |
| Operating profit (loss) | 9901 | €223,641 | €122,257 | -€101,384 | -45.3% |
| Financial income | 75/76B | €4,261 | - | -€4,261 | |
| Recurring financial income | 75 | €4,261 | - | -€4,261 | |
| Financial charges | 65/66B | €106 | €108 | +€1 | +1.3% |
| Recurring financial charges | 65 | €106 | €108 | +€1 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €227,796 | €122,149 | -€105,647 | -46.4% |
| Income taxes | 67/77 | €45,737 | €30,788 | -€14,949 | -32.7% |
| Profit (loss) for the period | 9904 | €182,059 | €91,361 | -€90,698 | -49.8% |
| Profit (loss) for the period to be appropriated | 9905 | €182,059 | €91,361 | -€90,698 | -49.8% |
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 15 October 2026 via checked.be.