IT'S TIME: 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.
IT'S TIME
Largest movements
- Stocks and contracts +€153,921
up €153,921 (+368.9%), from €41,719 to €195,640
- Cash -€142,046
down €142,046 (-75.7%), from €187,717 to €45,671
mainly Stocks and contracts (-€153,921) and Receivables within one year (-€86,184)
- Receivables within one year +€86,184
up €86,184 (+201.7%), from €42,730 to €128,914
of which Other amounts receivable: +€96,093
- Tangible fixed assets +€7,103
up €7,103 (+89.9%), from €7,898 to €15,001
of which Plant, machinery and equipment: +€4,493
- Trade debts +€122,686
up €122,686 (+658.2%), from €18,639 to €141,325
- Profit (loss) carried forward -€38,468
down €38,468 (-30.4%), from -€126,431 to -€164,899
- Tax, wage and social debts +€21,903
new in 2025: €21,903
of which Taxes: +€19,835
- Gross operating margin -€240,727
down €240,727, from €237,292 to -€3,435
- Staff costs +€15,464
new in 2025: €15,464
- Financial charges -€6,499
down €6,499 (-45.3%), from €14,345 to €7,846
- Depreciation +€4,026
up €4,026 (+1449.2%), from €278 to €4,304
- Other operating charges +€2,801
up €2,801 (+60.7%), from €4,618 to €7,419
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 | €280,254 | €386,376 | +€106,122 | +37.9% |
| Fixed assets | 21/28 | €8,087 | €15,839 | +€7,752 | +95.9% |
| Intangible fixed assets | 21 | - | €399 | +€399 | |
| Tangible fixed assets | 22/27 | €7,898 | €15,001 | +€7,103 | +89.9% |
| Plant, machinery and equipment | 23 | €6,775 | €11,268 | +€4,493 | +66.3% |
| Furniture and vehicles | 24 | €1,124 | €3,733 | +€2,610 | +232.3% |
| Financial fixed assets | 28 | €189 | €439 | +€250 | +132.3% |
| Current assets | 29/58 | €272,167 | €370,537 | +€98,370 | +36.1% |
| Stocks and contracts in progress | 3 | €41,719 | €195,640 | +€153,921 | +368.9% |
| Stocks | 30/36 | €41,719 | €195,640 | +€153,921 | +368.9% |
| Amounts receivable within one year | 40/41 | €42,730 | €128,914 | +€86,184 | +201.7% |
| Trade receivables | 40 | €13,900 | €3,991 | -€9,909 | -71.3% |
| Other amounts receivable | 41 | €28,830 | €124,923 | +€96,093 | +333.3% |
| Cash at bank and in hand | 54/58 | €187,717 | €45,671 | -€142,046 | -75.7% |
| Deferred charges and accrued income | 490/1 | - | €311 | +€311 | |
| Total equity and liabilities | 10/49 | €280,254 | €386,376 | +€106,122 | +37.9% |
| Equity | 10/15 | €189,604 | €151,136 | -€38,468 | -20.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €216,035 | €216,035 | = | 0.0% |
| Tax-exempt reserves | 132 | €216,035 | €216,035 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€126,431 | -€164,899 | -€38,468 | -30.4% |
| Provisions and deferred taxes | 16 | €72,012 | €72,012 | = | 0.0% |
| Deferred taxes | 168 | €72,012 | €72,012 | = | 0.0% |
| Amounts payable | 17/49 | €18,639 | €163,228 | +€144,589 | +775.7% |
| Amounts payable within one year | 42/48 | €18,639 | €163,228 | +€144,589 | +775.7% |
| Trade debts | 44 | €18,639 | €141,325 | +€122,686 | +658.2% |
| Suppliers | 440/4 | €18,639 | €141,325 | +€122,686 | +658.2% |
| Taxes, remuneration and social security | 45 | - | €21,903 | +€21,903 | |
| Taxes | 450/3 | - | €19,835 | +€19,835 | |
| Remuneration and social security | 454/9 | - | €2,068 | +€2,068 | |
| Remuneration, social security and pensions | 62 | - | €15,464 | +€15,464 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €278 | €4,304 | +€4,026 | +1449.2% |
| Other operating charges | 640/8 | €4,618 | €7,419 | +€2,801 | +60.7% |
| Gross operating margin | 9900 | €237,292 | -€3,435 | -€240,727 | |
| Operating profit (loss) | 9901 | €232,396 | -€30,622 | -€263,018 | |
| Financial charges | 65/66B | €14,345 | €7,846 | -€6,499 | -45.3% |
| Recurring financial charges | 65 | €14,345 | €7,846 | -€6,499 | -45.3% |
| Profit (loss) for the period before taxes | 9903 | €218,052 | -€38,468 | -€256,520 | |
| Transfer to deferred taxes | 680 | €72,012 | - | -€72,012 | |
| Profit (loss) for the period | 9904 | €146,040 | -€38,468 | -€184,508 | |
| Transfer to tax-exempt reserves | 689 | €216,035 | - | -€216,035 | |
| Profit (loss) for the period to be appropriated | 9905 | -€69,995 | -€38,468 | +€31,527 | +45.0% |
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 4 October 2026 via checked.be.