James ANDERSON: 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.
James ANDERSON
Largest movements
- Receivables within one year +€18,156
up €18,156 (+87.0%), from €20,869 to €39,025
of which Other amounts receivable: +€18,487
- Deferred charges and accrued income -€8,885
down €8,885 (-91.0%), from €9,768 to €883
- Tangible fixed assets -€942
down €942 (-10.1%), from €9,329 to €8,386
of which Furniture and vehicles: -€2,294
- Tax, wage and social debts +€23,825
up €23,825 (+318%), from €7,498 to €31,323
of which Taxes: +€21,443
- Trade debts -€21,830
down €21,830 (-82.2%), from €26,555 to €4,726
- Profit (loss) carried forward +€11,623
up €11,623 (+4,728%), from €246 to €11,869
- Short-term financial debts -€5,042
no longer reported in 2025 (was €5,042)
- Gross operating margin +€41,672
up €41,672 (+3,169%), from €1,315 to €42,987
- Taxes +€10,512
up €10,512 (+1,420%), from €740 to €11,252
- Financial income +€845
up €845 (+117%), from €720 to €1,565
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 | €40,841 | €49,418 | +€8,577 | +21.0% |
| Formation expenses | 20 | €747 | €685 | -€62 | -8.3% |
| Fixed assets | 21/28 | €9,329 | €8,386 | -€942 | -10.1% |
| Tangible fixed assets | 22/27 | €9,329 | €8,386 | -€942 | -10.1% |
| Plant, machinery and equipment | 23 | €2,518 | €2,188 | -€330 | -13.1% |
| Furniture and vehicles | 24 | €6,811 | €4,517 | -€2,294 | -33.7% |
| Other tangible fixed assets | 26 | - | €1,682 | +€1,682 | |
| Current assets | 29/58 | €30,765 | €40,347 | +€9,581 | +31.1% |
| Amounts receivable within one year | 40/41 | €20,869 | €39,025 | +€18,156 | +87.0% |
| Trade receivables | 40 | €330 | - | -€330 | |
| Other amounts receivable | 41 | €20,539 | €39,025 | +€18,487 | +90.0% |
| Cash at bank and in hand | 54/58 | €129 | €438 | +€309 | +240% |
| Deferred charges and accrued income | 490/1 | €9,768 | €883 | -€8,885 | -91.0% |
| Total equity and liabilities | 10/49 | €40,841 | €49,418 | +€8,577 | +21.0% |
| Equity | 10/15 | €1,746 | €13,369 | +€11,623 | +666% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €246 | €11,869 | +€11,623 | +4,728% |
| Amounts payable | 17/49 | €39,095 | €36,049 | -€3,047 | -7.8% |
| Amounts payable within one year | 42/48 | €39,095 | €36,049 | -€3,047 | -7.8% |
| Financial debts | 43 | €5,042 | - | -€5,042 | |
| Credit institutions | 430/8 | €5,042 | - | -€5,042 | |
| Trade debts | 44 | €26,555 | €4,726 | -€21,830 | -82.2% |
| Suppliers | 440/4 | €26,555 | €4,726 | -€21,830 | -82.2% |
| Taxes, remuneration and social security | 45 | €7,498 | €31,323 | +€23,825 | +318% |
| Taxes | 450/3 | €7,498 | €28,941 | +€21,443 | +286% |
| Remuneration and social security | 454/9 | - | €2,382 | +€2,382 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,430 | €2,800 | +€370 | +15.2% |
| Other operating charges | 640/8 | €2,224 | €2,055 | -€169 | -7.6% |
| Gross operating margin | 9900 | €1,315 | €42,987 | +€41,672 | +3,169% |
| Operating profit (loss) | 9901 | -€3,338 | €38,133 | +€41,471 | |
| Financial income | 75/76B | €720 | €1,565 | +€845 | +117% |
| Recurring financial income | 75 | €720 | €1,565 | +€845 | +117% |
| Financial charges | 65/66B | €1,041 | €1,322 | +€281 | +27.0% |
| Recurring financial charges | 65 | €1,041 | €1,322 | +€281 | +27.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,658 | €38,376 | +€42,034 | |
| Income taxes | 67/77 | €740 | €11,252 | +€10,512 | +1,420% |
| Profit (loss) for the period | 9904 | -€4,399 | €27,123 | +€31,522 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,399 | €27,123 | +€31,522 |
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 14 October 2026 via checked.be.