Italique: 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.
Italique
Largest movements
- Tangible fixed assets +€55,368
up €55,368 (+473%), from €11,694 to €67,062
of which Leasing and similar rights: +€42,081
- Cash +€19,693
up €19,693 (+6,087%), from €324 to €20,017
mainly Debts after one year (+€36,014) and Tax, wage and social debts (+€22,731)
- Receivables within one year -€8,353
down €8,353 (-10.0%), from €83,870 to €75,518
of which Trade receivables: -€19,022
- Deferred charges and accrued income +€2,169
up €2,169 (+24.6%), from €8,815 to €10,984
- Debts after one year +€36,014
up €36,014 (+349%), from €10,312 to €46,326
- Tax, wage and social debts +€22,731
up €22,731 (+104%), from €21,808 to €44,540
of which Remuneration and social security: +€19,957
- Accrued charges and deferred income +€15,042
new in 2025: €15,042
- Short-term financial debts -€13,318
down €13,318 (-98.2%), from €13,557 to €239
- Current portion of long-term debt +€12,135
up €12,135 (+199%), from €6,103 to €18,238
- Staff costs +€32,946
up €32,946 (+52.2%), from €63,172 to €96,119
- Gross operating margin +€30,550
up €30,550 (+34.6%), from €88,383 to €118,933
- Depreciation +€9,091
up €9,091 (+328%), from €2,770 to €11,860
- Taxes +€6,524
up €6,524 (+786%), from €830 to €7,354
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 | €104,702 | €174,305 | +€69,603 | +66.5% |
| Fixed assets | 21/28 | €11,694 | €67,787 | +€56,093 | +480% |
| Tangible fixed assets | 22/27 | €11,694 | €67,062 | +€55,368 | +473% |
| Plant, machinery and equipment | 23 | €614 | €486 | -€128 | -20.8% |
| Furniture and vehicles | 24 | €11,080 | €24,495 | +€13,415 | +121% |
| Leasing and similar rights | 25 | - | €42,081 | +€42,081 | |
| Financial fixed assets | 28 | - | €725 | +€725 | |
| Current assets | 29/58 | €93,009 | €106,519 | +€13,510 | +14.5% |
| Amounts receivable within one year | 40/41 | €83,870 | €75,518 | -€8,353 | -10.0% |
| Trade receivables | 40 | €66,072 | €47,049 | -€19,022 | -28.8% |
| Other amounts receivable | 41 | €17,799 | €28,468 | +€10,670 | +59.9% |
| Cash at bank and in hand | 54/58 | €324 | €20,017 | +€19,693 | +6,087% |
| Deferred charges and accrued income | 490/1 | €8,815 | €10,984 | +€2,169 | +24.6% |
| Total equity and liabilities | 10/49 | €104,702 | €174,305 | +€69,603 | +66.5% |
| Equity | 10/15 | €26,850 | €28,113 | +€1,264 | +4.7% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,350 | €24,613 | +€1,264 | +5.4% |
| Amounts payable | 17/49 | €77,853 | €146,192 | +€68,340 | +87.8% |
| Amounts payable after more than one year | 17 | €10,312 | €46,326 | +€36,014 | +349% |
| Financial debts | 170/4 | €10,312 | €46,326 | +€36,014 | +349% |
| Amounts payable within one year | 42/48 | €67,540 | €84,824 | +€17,283 | +25.6% |
| Current portion of amounts payable after more than one year | 42 | €6,103 | €18,238 | +€12,135 | +199% |
| Financial debts | 43 | €13,557 | €239 | -€13,318 | -98.2% |
| Credit institutions | 430/8 | €13,557 | €239 | -€13,318 | -98.2% |
| Trade debts | 44 | €26,071 | €21,807 | -€4,264 | -16.4% |
| Suppliers | 440/4 | €26,071 | €21,807 | -€4,264 | -16.4% |
| Taxes, remuneration and social security | 45 | €21,808 | €44,540 | +€22,731 | +104% |
| Taxes | 450/3 | €14,083 | €16,857 | +€2,774 | +19.7% |
| Remuneration and social security | 454/9 | €7,725 | €27,682 | +€19,957 | +258% |
| Accrued charges and deferred income | 492/3 | - | €15,042 | +€15,042 | |
| Remuneration, social security and pensions | 62 | €63,172 | €96,119 | +€32,946 | +52.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,770 | €11,860 | +€9,091 | +328% |
| Other operating charges | 640/8 | €81 | €704 | +€623 | +769% |
| Gross operating margin | 9900 | €88,383 | €118,933 | +€30,550 | +34.6% |
| Operating profit (loss) | 9901 | €22,360 | €10,249 | -€12,110 | -54.2% |
| Financial income | 75/76B | €722 | €1,353 | +€630 | +87.2% |
| Recurring financial income | 75 | €722 | €1,353 | +€630 | +87.2% |
| Financial charges | 65/66B | €2,620 | €2,985 | +€364 | +13.9% |
| Recurring financial charges | 65 | €2,620 | €2,985 | +€364 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €20,462 | €8,617 | -€11,844 | -57.9% |
| Income taxes | 67/77 | €830 | €7,354 | +€6,524 | +786% |
| Profit (loss) for the period | 9904 | €19,632 | €1,264 | -€18,369 | -93.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,632 | €1,264 | -€18,369 | -93.6% |
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 18 October 2026 via checked.be.