INLINE PROJECT: 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 PROJECT
Largest movements
- Receivables within one year +€28,737
up €28,737 (+185.3%), from €15,511 to €44,248
of which Trade receivables: +€22,907
- Tangible fixed assets -€8,627
down €8,627 (-72.6%), from €11,880 to €3,252
of which Land and buildings: -€9,202
- Deferred charges and accrued income -€4,643
down €4,643 (-31.9%), from €14,537 to €9,894
- Financial fixed assets +€1,800
new in 2025: €1,800
- Other debts +€98,784
new in 2025: €98,784
- Reserves -€87,626
down €87,626 (-75.5%), from €116,097 to €28,471
of which Distributable reserves: -€87,626
- Profit (loss) carried forward +€13,385
no longer reported in 2025 (was -€13,385)
- Current portion of long-term debt -€9,925
down €9,925 (-74.3%), from €13,356 to €3,431
- Tax, wage and social debts +€8,034
up €8,034 (+64.1%), from €12,525 to €20,558
- Taxes +€10,335
up €10,335 (+10106.4%), from €102 to €10,437
- Gross operating margin +€10,323
up €10,323 (+23.4%), from €44,207 to €54,530
- Depreciation -€1,482
down €1,482 (-13.3%), from €11,118 to €9,637
- Financial charges +€594
up €594 (+26.6%), from €2,235 to €2,829
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 | €151,711 | €170,168 | +€18,457 | +12.2% |
| Fixed assets | 21/28 | €11,880 | €5,052 | -€6,827 | -57.5% |
| Tangible fixed assets | 22/27 | €11,880 | €3,252 | -€8,627 | -72.6% |
| Land and buildings | 22 | €9,202 | - | -€9,202 | |
| Plant, machinery and equipment | 23 | €2,550 | €2,550 | = | 0.0% |
| Furniture and vehicles | 24 | €127 | €702 | +€575 | +450.9% |
| Financial fixed assets | 28 | - | €1,800 | +€1,800 | |
| Current assets | 29/58 | €139,831 | €165,115 | +€25,284 | +18.1% |
| Amounts receivable within one year | 40/41 | €15,511 | €44,248 | +€28,737 | +185.3% |
| Trade receivables | 40 | €12,524 | €35,431 | +€22,907 | +182.9% |
| Other amounts receivable | 41 | €2,988 | €8,817 | +€5,829 | +195.1% |
| Cash at bank and in hand | 54/58 | €109,783 | €110,973 | +€1,191 | +1.1% |
| Deferred charges and accrued income | 490/1 | €14,537 | €9,894 | -€4,643 | -31.9% |
| Total equity and liabilities | 10/49 | €151,711 | €170,168 | +€18,457 | +12.2% |
| Equity | 10/15 | €121,312 | €47,071 | -€74,241 | -61.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €116,097 | €28,471 | -€87,626 | -75.5% |
| Tax-exempt reserves | 132 | €12,114 | €12,114 | = | 0.0% |
| Distributable reserves | 133 | €103,983 | €16,357 | -€87,626 | -84.3% |
| Profit (loss) carried forward | 14 | -€13,385 | - | +€13,385 | |
| Amounts payable | 17/49 | €30,399 | €123,097 | +€92,698 | +304.9% |
| Amounts payable after more than one year | 17 | €3,431 | - | -€3,431 | |
| Financial debts | 170/4 | €3,431 | - | -€3,431 | |
| Amounts payable within one year | 42/48 | €26,968 | €123,097 | +€96,129 | +356.5% |
| Current portion of amounts payable after more than one year | 42 | €13,356 | €3,431 | -€9,925 | -74.3% |
| Trade debts | 44 | €1,087 | €324 | -€763 | -70.2% |
| Suppliers | 440/4 | €1,087 | €324 | -€763 | -70.2% |
| Taxes, remuneration and social security | 45 | €12,525 | €20,558 | +€8,034 | +64.1% |
| Taxes | 450/3 | €12,525 | €20,558 | +€8,034 | +64.1% |
| Other amounts payable | 47/48 | - | €98,784 | +€98,784 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,118 | €9,637 | -€1,482 | -13.3% |
| Other operating charges | 640/8 | €1,914 | €1,867 | -€47 | -2.5% |
| Non-recurring operating charges | 66A | - | €20 | +€20 | |
| Gross operating margin | 9900 | €44,207 | €54,530 | +€10,323 | +23.4% |
| Operating profit (loss) | 9901 | €31,174 | €43,006 | +€11,832 | +38.0% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €2,235 | €2,829 | +€594 | +26.6% |
| Recurring financial charges | 65 | €2,235 | €2,829 | +€594 | +26.6% |
| Profit (loss) for the period before taxes | 9903 | €28,940 | €40,179 | +€11,239 | +38.8% |
| Income taxes | 67/77 | €102 | €10,437 | +€10,335 | +10106.4% |
| Profit (loss) for the period | 9904 | €28,837 | €29,742 | +€905 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,837 | €29,742 | +€905 | +3.1% |
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 12 October 2026 via checked.be.