KEY DRIVING COMPETENCES: 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 DRIVING COMPETENCES
Largest movements
- Cash +€225,387
up €225,387 (+1,632%), from €13,811 to €239,198
mainly Other debts (+€432,853) and Receivables within one year (+€158,044)
- Receivables within one year -€158,044
down €158,044 (-34.3%), from €461,036 to €302,992
of which Other amounts receivable: -€163,482
- Other debts +€432,853
new in 2025: €432,853
- Contributions -€410,000
down €410,000 (-54.7%), from €750,000 to €340,000
- Profit (loss) carried forward +€43,369
up €43,369 (+14.1%), from -€307,548 to -€264,179
- Tax, wage and social debts +€10,828
up €10,828 (+65.8%), from €16,455 to €27,283
- Current portion of long-term debt -€7,977
down €7,977 (-74.7%), from €10,676 to €2,699
- Gross operating margin -€107,100
down €107,100 (-74.5%), from €143,834 to €36,734
- Financial income +€5,335
up €5,335 (+72.5%), from €7,363 to €12,698
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 | €476,069 | €544,805 | +€68,736 | +14.4% |
| Fixed assets | 21/28 | €1,222 | €2,615 | +€1,393 | +114% |
| Tangible fixed assets | 22/27 | €1,222 | €2,615 | +€1,393 | +114% |
| Plant, machinery and equipment | 23 | €1,222 | €790 | -€432 | -35.3% |
| Furniture and vehicles | 24 | - | €1,825 | +€1,825 | |
| Current assets | 29/58 | €474,847 | €542,190 | +€67,343 | +14.2% |
| Amounts receivable within one year | 40/41 | €461,036 | €302,992 | -€158,044 | -34.3% |
| Trade receivables | 40 | €12,381 | €17,819 | +€5,438 | +43.9% |
| Other amounts receivable | 41 | €448,655 | €285,173 | -€163,482 | -36.4% |
| Cash at bank and in hand | 54/58 | €13,811 | €239,198 | +€225,387 | +1,632% |
| Total equity and liabilities | 10/49 | €476,069 | €544,805 | +€68,736 | +14.4% |
| Equity | 10/15 | €442,452 | €75,821 | -€366,631 | -82.9% |
| Contributions | 10/11 | €750,000 | €340,000 | -€410,000 | -54.7% |
| Capital | 10 | €750,000 | - | -€750,000 | |
| Issued capital | 100 | €750,000 | - | -€750,000 | |
| Profit (loss) carried forward | 14 | -€307,548 | -€264,179 | +€43,369 | +14.1% |
| Amounts payable | 17/49 | €33,617 | €468,985 | +€435,367 | +1,295% |
| Amounts payable after more than one year | 17 | €2,699 | - | -€2,699 | |
| Financial debts | 170/4 | €2,699 | - | -€2,699 | |
| Amounts payable within one year | 42/48 | €30,918 | €468,985 | +€438,067 | +1,417% |
| Current portion of amounts payable after more than one year | 42 | €10,676 | €2,699 | -€7,977 | -74.7% |
| Trade debts | 44 | €3,787 | €6,149 | +€2,362 | +62.4% |
| Suppliers | 440/4 | €3,787 | €6,149 | +€2,362 | +62.4% |
| Taxes, remuneration and social security | 45 | €16,455 | €27,283 | +€10,828 | +65.8% |
| Taxes | 450/3 | €16,455 | €27,283 | +€10,828 | +65.8% |
| Other amounts payable | 47/48 | - | €432,853 | +€432,853 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73 | €820 | +€747 | +1,021% |
| Other operating charges | 640/8 | €3,573 | €3,329 | -€244 | -6.8% |
| Gross operating margin | 9900 | €143,834 | €36,734 | -€107,100 | -74.5% |
| Operating profit (loss) | 9901 | €140,188 | €32,585 | -€107,603 | -76.8% |
| Financial income | 75/76B | €7,363 | €12,698 | +€5,335 | +72.5% |
| Recurring financial income | 75 | €7,363 | €12,698 | +€5,335 | +72.5% |
| Financial charges | 65/66B | €1,726 | €1,915 | +€189 | +10.9% |
| Recurring financial charges | 65 | €1,726 | €1,915 | +€189 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €145,825 | €43,369 | -€102,456 | -70.3% |
| Profit (loss) for the period | 9904 | €145,825 | €43,369 | -€102,456 | -70.3% |
| Profit (loss) for the period to be appropriated | 9905 | €145,825 | €43,369 | -€102,456 | -70.3% |
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 19 October 2026 via checked.be.