KEY 2 RESHAPE: 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.
KEY 2 RESHAPE
Largest movements
- Receivables within one year +€11,853
up €11,853 (+75.3%), from €15,748 to €27,601
of which Trade receivables: +€11,574
- Cash +€1,918
up €1,918 (+14.0%), from €13,674 to €15,592
mainly Tax, wage and social debts (+€12,830) and Net result for the year (+€3,482)
- Tangible fixed assets +€1,869
up €1,869 (+44.3%), from €4,217 to €6,086
of which Furniture and vehicles: +€2,213
- Deferred charges and accrued income +€1,793
new in 2025: €1,793
- Tax, wage and social debts +€12,830
up €12,830 (+331.5%), from €3,871 to €16,701
of which Taxes: +€10,330
- Reserves +€3,482
up €3,482 (+12.6%), from €27,601 to €31,083
- Trade debts +€1,120
up €1,120 (+668.5%), from €168 to €1,288
- Gross operating margin +€5,576
up €5,576 (+119.1%), from €4,682 to €10,258
- Other operating charges +€1,073
up €1,073 (+1318.0%), from €81 to €1,154
- Depreciation +€1,037
up €1,037 (+45.5%), from €2,280 to €3,318
- Staff costs +€463
new in 2025: €463
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 | €33,639 | €51,072 | +€17,433 | +51.8% |
| Fixed assets | 21/28 | €4,217 | €6,086 | +€1,869 | +44.3% |
| Tangible fixed assets | 22/27 | €4,217 | €6,086 | +€1,869 | +44.3% |
| Plant, machinery and equipment | 23 | €344 | - | -€344 | |
| Furniture and vehicles | 24 | €3,873 | €6,086 | +€2,213 | +57.2% |
| Current assets | 29/58 | €29,422 | €44,986 | +€15,564 | +52.9% |
| Amounts receivable within one year | 40/41 | €15,748 | €27,601 | +€11,853 | +75.3% |
| Trade receivables | 40 | €600 | €12,174 | +€11,574 | +1929.0% |
| Other amounts receivable | 41 | €15,148 | €15,427 | +€279 | +1.8% |
| Cash at bank and in hand | 54/58 | €13,674 | €15,592 | +€1,918 | +14.0% |
| Deferred charges and accrued income | 490/1 | - | €1,793 | +€1,793 | |
| Total equity and liabilities | 10/49 | €33,639 | €51,072 | +€17,433 | +51.8% |
| Equity | 10/15 | €29,601 | €33,083 | +€3,482 | +11.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €27,601 | €31,083 | +€3,482 | +12.6% |
| Distributable reserves | 133 | €27,601 | €31,083 | +€3,482 | +12.6% |
| Amounts payable | 17/49 | €4,038 | €17,989 | +€13,950 | +345.5% |
| Amounts payable within one year | 42/48 | €4,038 | €17,989 | +€13,950 | +345.5% |
| Trade debts | 44 | €168 | €1,288 | +€1,120 | +668.5% |
| Suppliers | 440/4 | €168 | €1,288 | +€1,120 | +668.5% |
| Taxes, remuneration and social security | 45 | €3,871 | €16,701 | +€12,830 | +331.5% |
| Taxes | 450/3 | €3,871 | €14,201 | +€10,330 | +266.9% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Non-recurring operating income | 76A | €12,668 | - | -€12,668 | |
| Remuneration, social security and pensions | 62 | - | €463 | +€463 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,280 | €3,318 | +€1,037 | +45.5% |
| Other operating charges | 640/8 | €81 | €1,154 | +€1,073 | +1318.0% |
| Gross operating margin | 9900 | €4,682 | €10,258 | +€5,576 | +119.1% |
| Operating profit (loss) | 9901 | €2,320 | €5,323 | +€3,003 | +129.4% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €77 | €70 | -€7 | -9.1% |
| Recurring financial charges | 65 | €77 | €70 | -€7 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €2,243 | €5,255 | +€3,012 | +134.3% |
| Income taxes | 67/77 | €1,806 | €1,773 | -€33 | -1.8% |
| Profit (loss) for the period | 9904 | €437 | €3,482 | +€3,046 | +697.0% |
| Profit (loss) for the period to be appropriated | 9905 | €437 | €3,482 | +€3,046 | +697.0% |
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 10 October 2026 via checked.be.