INSERT GRAPHIC: 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.
INSERT GRAPHIC
Largest movements
- Receivables within one year +€11,706
up €11,706 (+110.5%), from €10,596 to €22,302
of which Trade receivables: +€12,933
- Stocks and contracts +€2,994
up €2,994 (+89.8%), from €3,335 to €6,329
- Tangible fixed assets -€1,575
down €1,575 (-28.8%), from €5,473 to €3,898
- Profit (loss) carried forward +€7,107
no longer reported in 2025 (was -€7,107)
- Trade debts +€3,619
up €3,619 (+61.3%), from €5,908 to €9,528
- Debts after one year -€3,185
down €3,185 (-46.7%), from €6,819 to €3,634
- Current portion of long-term debt +€3,154
up €3,154 (+104.1%), from €3,031 to €6,185
- Reserves +€1,884
up €1,884 (+19.3%), from €9,742 to €11,626
- Gross operating margin +€12,622
up €12,622 (+36.4%), from €34,669 to €47,292
- Taxes +€3,371
up €3,371 (+216.0%), from €1,561 to €4,931
- Staff costs +€2,333
up €2,333 (+8.9%), from €26,347 to €28,680
- Financial charges +€735
up €735 (+41.3%), from €1,779 to €2,515
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 | €33,054 | €46,526 | +€13,473 | +40.8% |
| Fixed assets | 21/28 | €10,469 | €8,894 | -€1,575 | -15.0% |
| Tangible fixed assets | 22/27 | €5,473 | €3,898 | -€1,575 | -28.8% |
| Furniture and vehicles | 24 | €5,473 | €3,898 | -€1,575 | -28.8% |
| Financial fixed assets | 28 | €4,996 | €4,996 | = | 0.0% |
| Current assets | 29/58 | €22,584 | €37,632 | +€15,048 | +66.6% |
| Stocks and contracts in progress | 3 | €3,335 | €6,329 | +€2,994 | +89.8% |
| Stocks | 30/36 | €3,335 | €6,329 | +€2,994 | +89.8% |
| Amounts receivable within one year | 40/41 | €10,596 | €22,302 | +€11,706 | +110.5% |
| Trade receivables | 40 | €4,553 | €17,485 | +€12,933 | +284.1% |
| Other amounts receivable | 41 | €6,043 | €4,816 | -€1,227 | -20.3% |
| Cash at bank and in hand | 54/58 | €8,653 | €9,001 | +€348 | +4.0% |
| Total equity and liabilities | 10/49 | €33,054 | €46,526 | +€13,473 | +40.8% |
| Equity | 10/15 | €8,840 | €17,831 | +€8,991 | +101.7% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €9,742 | €11,626 | +€1,884 | +19.3% |
| Distributable reserves | 133 | €9,742 | €11,626 | +€1,884 | +19.3% |
| Profit (loss) carried forward | 14 | -€7,107 | - | +€7,107 | |
| Amounts payable | 17/49 | €24,214 | €28,695 | +€4,481 | +18.5% |
| Amounts payable after more than one year | 17 | €6,819 | €3,634 | -€3,185 | -46.7% |
| Financial debts | 170/4 | €6,819 | €3,634 | -€3,185 | -46.7% |
| Amounts payable within one year | 42/48 | €17,395 | €25,062 | +€7,667 | +44.1% |
| Current portion of amounts payable after more than one year | 42 | €3,031 | €6,185 | +€3,154 | +104.1% |
| Trade debts | 44 | €5,908 | €9,528 | +€3,619 | +61.3% |
| Suppliers | 440/4 | €5,908 | €9,528 | +€3,619 | +61.3% |
| Taxes, remuneration and social security | 45 | €8,455 | €9,349 | +€893 | +10.6% |
| Taxes | 450/3 | €4,843 | €5,596 | +€753 | +15.6% |
| Remuneration and social security | 454/9 | €3,612 | €3,753 | +€140 | +3.9% |
| Remuneration, social security and pensions | 62 | €26,347 | €28,680 | +€2,333 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,575 | €1,575 | = | 0.0% |
| Other operating charges | 640/8 | €864 | €1,111 | +€247 | +28.6% |
| Gross operating margin | 9900 | €34,669 | €47,292 | +€12,622 | +36.4% |
| Operating profit (loss) | 9901 | €5,883 | €15,926 | +€10,043 | +170.7% |
| Financial income | 75/76B | €392 | €511 | +€120 | +30.6% |
| Recurring financial income | 75 | €392 | €511 | +€120 | +30.6% |
| Financial charges | 65/66B | €1,779 | €2,515 | +€735 | +41.3% |
| Recurring financial charges | 65 | €1,779 | €2,515 | +€735 | +41.3% |
| Profit (loss) for the period before taxes | 9903 | €4,495 | €13,923 | +€9,428 | +209.7% |
| Income taxes | 67/77 | €1,561 | €4,931 | +€3,371 | +216.0% |
| Profit (loss) for the period | 9904 | €2,935 | €8,991 | +€6,057 | +206.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,935 | €8,991 | +€6,057 | +206.4% |
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 7 October 2026 via checked.be.