KEY QUALITY: 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 QUALITY
Largest movements
- Cash +€31,931
up €31,931 (+152.8%), from €20,895 to €52,826
mainly Net result for the year (+€54,990) and Receivables within one year (+€6,952)
- Receivables within one year -€6,952
down €6,952 (-30.7%), from €22,670 to €15,718
- Profit (loss) carried forward +€54,990
up €54,990 (+53.6%), from -€102,521 to -€47,531
- Other debts -€17,882
down €17,882 (-20.8%), from €85,821 to €67,940
- Trade debts -€16,392
down €16,392 (-65.7%), from €24,961 to €8,568
- Tax, wage and social debts +€2,185
up €2,185 (+49.0%), from €4,463 to €6,647
- Accrued charges and deferred income +€1,775
up €1,775 (+86.8%), from €2,044 to €3,819
- Staff costs -€51,455
no longer reported in 2025 (was €51,455)
- Other operating charges -€11,463
down €11,463 (-95.7%), from €11,982 to €520
- Gross operating margin +€6,322
up €6,322 (+12.3%), from €51,464 to €57,786
- Financial charges -€2,014
down €2,014 (-49.6%), from €4,064 to €2,050
- Taxes -€588
no longer reported in 2025 (was €588)
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 | €44,768 | €69,444 | +€24,676 | +55.1% |
| Fixed assets | 21/28 | €976 | €900 | -€76 | -7.8% |
| Tangible fixed assets | 22/27 | €226 | - | -€226 | |
| Furniture and vehicles | 24 | €226 | - | -€226 | |
| Financial fixed assets | 28 | €750 | €900 | +€150 | +20.0% |
| Current assets | 29/58 | €43,791 | €68,544 | +€24,752 | +56.5% |
| Amounts receivable within one year | 40/41 | €22,670 | €15,718 | -€6,952 | -30.7% |
| Trade receivables | 40 | €22,670 | €15,718 | -€6,952 | -30.7% |
| Cash at bank and in hand | 54/58 | €20,895 | €52,826 | +€31,931 | +152.8% |
| Deferred charges and accrued income | 490/1 | €227 | - | -€227 | |
| Total equity and liabilities | 10/49 | €44,768 | €69,444 | +€24,676 | +55.1% |
| Equity | 10/15 | -€72,521 | -€17,531 | +€54,990 | +75.8% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102,521 | -€47,531 | +€54,990 | +53.6% |
| Amounts payable | 17/49 | €117,289 | €86,975 | -€30,314 | -25.8% |
| Amounts payable within one year | 42/48 | €115,245 | €83,155 | -€32,089 | -27.8% |
| Trade debts | 44 | €24,961 | €8,568 | -€16,392 | -65.7% |
| Suppliers | 440/4 | €24,961 | €8,568 | -€16,392 | -65.7% |
| Taxes, remuneration and social security | 45 | €4,463 | €6,647 | +€2,185 | +49.0% |
| Taxes | 450/3 | €4,463 | €6,647 | +€2,185 | +49.0% |
| Other amounts payable | 47/48 | €85,821 | €67,940 | -€17,882 | -20.8% |
| Accrued charges and deferred income | 492/3 | €2,044 | €3,819 | +€1,775 | +86.8% |
| Remuneration, social security and pensions | 62 | €51,455 | - | -€51,455 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €270 | €226 | -€44 | -16.2% |
| Other operating charges | 640/8 | €11,982 | €520 | -€11,463 | -95.7% |
| Gross operating margin | 9900 | €51,464 | €57,786 | +€6,322 | +12.3% |
| Operating profit (loss) | 9901 | -€12,242 | €57,040 | +€69,283 | |
| Financial income | 75/76B | €146 | - | -€146 | |
| Recurring financial income | 75 | €146 | - | -€146 | |
| Financial charges | 65/66B | €4,064 | €2,050 | -€2,014 | -49.6% |
| Recurring financial charges | 65 | €4,064 | €2,050 | -€2,014 | -49.6% |
| Profit (loss) for the period before taxes | 9903 | -€16,161 | €54,990 | +€71,151 | |
| Income taxes | 67/77 | €588 | - | -€588 | |
| Profit (loss) for the period | 9904 | -€16,749 | €54,990 | +€71,739 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,749 | €54,990 | +€71,739 |
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 2 October 2026 via checked.be.