Justificat: 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.
Justificat
Largest movements
- Cash +€27,563
up €27,563 (+170%), from €16,209 to €43,772
mainly Net result for the year (+€22,697) and Tax, wage and social debts (+€5,292)
- Reserves +€22,204
new in 2025: €22,204
- Tax, wage and social debts +€5,292
up €5,292 (+73.4%), from €7,210 to €12,502
of which Taxes: +€5,275
- Trade debts -€842
down €842 (-68.5%), from €1,230 to €388
- Profit (loss) carried forward +€493
up €493, from -€493 to €0
- Gross operating margin +€29,119
up €29,119, from -€424 to €28,695
- Taxes +€5,850
up €5,850 (+12,479%), from €47 to €5,897
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 | €17,447 | €44,734 | +€27,286 | +156% |
| Current assets | 29/58 | €17,447 | €44,734 | +€27,286 | +156% |
| Amounts receivable within one year | 40/41 | €300 | €220 | -€80 | -26.7% |
| Other amounts receivable | 41 | €300 | €220 | -€80 | -26.7% |
| Cash at bank and in hand | 54/58 | €16,209 | €43,772 | +€27,563 | +170% |
| Deferred charges and accrued income | 490/1 | €939 | €741 | -€197 | -21.0% |
| Total equity and liabilities | 10/49 | €17,447 | €44,734 | +€27,286 | +156% |
| Equity | 10/15 | €1,507 | €24,204 | +€22,697 | +1,506% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €22,204 | +€22,204 | |
| Distributable reserves | 133 | - | €22,204 | +€22,204 | |
| Profit (loss) carried forward | 14 | -€493 | €0 | +€493 | |
| Amounts payable | 17/49 | €15,941 | €20,529 | +€4,589 | +28.8% |
| Amounts payable within one year | 42/48 | €15,941 | €20,390 | +€4,450 | +27.9% |
| Trade debts | 44 | €1,230 | €388 | -€842 | -68.5% |
| Suppliers | 440/4 | €1,230 | €388 | -€842 | -68.5% |
| Taxes, remuneration and social security | 45 | €7,210 | €12,502 | +€5,292 | +73.4% |
| Taxes | 450/3 | €5,211 | €10,486 | +€5,275 | +101% |
| Remuneration and social security | 454/9 | €1,999 | €2,016 | +€17 | +0.8% |
| Other amounts payable | 47/48 | €7,500 | €7,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €139 | +€139 | |
| Other operating charges | 640/8 | - | €50 | +€50 | |
| Gross operating margin | 9900 | -€424 | €28,695 | +€29,119 | |
| Operating profit (loss) | 9901 | -€424 | €28,645 | +€29,069 | |
| Financial charges | 65/66B | €23 | €51 | +€28 | +124% |
| Recurring financial charges | 65 | €23 | €51 | +€28 | +124% |
| Profit (loss) for the period before taxes | 9903 | -€446 | €28,594 | +€29,041 | |
| Income taxes | 67/77 | €47 | €5,897 | +€5,850 | +12,479% |
| Profit (loss) for the period | 9904 | -€493 | €22,697 | +€23,191 | |
| Profit (loss) for the period to be appropriated | 9905 | -€493 | €22,697 | +€23,191 |
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 15 October 2026 via checked.be.