Key Management: what changed
Two fiscal 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 Management
Largest movements
- Receivables within one year +€82,297
up €82,297 (+628.4%), from €13,097 to €95,394
of which Other amounts receivable: +€82,084
- Cash -€18,429
down €18,429 (-38.1%), from €48,363 to €29,934
mainly Receivables within one year (-€82,297) and Contributions, distributions and other (-€833)
- Reserves +€42,591
up €42,591 (+102.6%), from €41,527 to €84,117
- Tax, wage and social debts +€17,370
up €17,370 (+90.9%), from €19,103 to €36,473
of which Taxes: +€11,870
- Trade debts +€2,895
up €2,895 (+526.3%), from €550 to €3,445
- Turnover +€147,000
new in 2025: €147,000
- Purchases and services +€88,120
new in 2025: €88,120
- Financial income +€2,224
new in 2025: €2,224
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 | €64,446 | €127,118 | +€62,673 | +97.2% |
| Fixed assets | 21/28 | €2,986 | €1,791 | -€1,195 | -40.0% |
| Tangible fixed assets | 22/27 | €2,930 | €1,734 | -€1,195 | -40.8% |
| Furniture and vehicles | 24 | €2,930 | €1,734 | -€1,195 | -40.8% |
| Financial fixed assets | 28 | €56 | €56 | = | 0.0% |
| Current assets | 29/58 | €61,460 | €125,328 | +€63,868 | +103.9% |
| Amounts receivable within one year | 40/41 | €13,097 | €95,394 | +€82,297 | +628.4% |
| Trade receivables | 40 | €13,097 | €13,310 | +€213 | +1.6% |
| Other amounts receivable | 41 | - | €82,084 | +€82,084 | |
| Cash at bank and in hand | 54/58 | €48,363 | €29,934 | -€18,429 | -38.1% |
| Total equity and liabilities | 10/49 | €64,446 | €127,118 | +€62,673 | +97.2% |
| Equity | 10/15 | €44,027 | €86,617 | +€42,591 | +96.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €41,527 | €84,117 | +€42,591 | +102.6% |
| Distributable reserves | 133 | €41,527 | €84,117 | +€42,591 | +102.6% |
| Amounts payable | 17/49 | €20,419 | €40,501 | +€20,082 | +98.4% |
| Amounts payable within one year | 42/48 | €20,419 | €40,501 | +€20,082 | +98.4% |
| Trade debts | 44 | €550 | €3,445 | +€2,895 | +526.3% |
| Suppliers | 440/4 | €550 | €3,445 | +€2,895 | +526.3% |
| Taxes, remuneration and social security | 45 | €19,103 | €36,473 | +€17,370 | +90.9% |
| Taxes | 450/3 | €19,103 | €30,973 | +€11,870 | +62.1% |
| Remuneration and social security | 454/9 | - | €5,500 | +€5,500 | |
| Other amounts payable | 47/48 | €766 | €583 | -€183 | -23.9% |
| Turnover | 70 | - | €147,000 | +€147,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €88,120 | +€88,120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €656 | €1,195 | +€539 | +82.1% |
| Other operating charges | 640/8 | €50 | €66 | +€16 | +31.4% |
| Gross operating margin | 9900 | €59,699 | €58,880 | -€819 | -1.4% |
| Operating profit (loss) | 9901 | €58,993 | €57,619 | -€1,373 | -2.3% |
| Financial income | 75/76B | - | €2,224 | +€2,224 | |
| Recurring financial income | 75 | - | €2,224 | +€2,224 | |
| Financial charges | 65/66B | - | €39 | +€39 | |
| Recurring financial charges | 65 | - | €39 | +€39 | |
| Profit (loss) for the period before taxes | 9903 | €58,993 | €59,804 | +€811 | +1.4% |
| Income taxes | 67/77 | €16,633 | €16,380 | -€253 | -1.5% |
| Profit (loss) for the period | 9904 | €42,360 | €43,424 | +€1,064 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €42,360 | €43,424 | +€1,064 | +2.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.