KICKOFF: 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.
KICKOFF
Largest movements
- Cash +€27,163
up €27,163 (+65.3%), from €41,626 to €68,789
mainly Other debts (+€40,740) and Net result for the year (+€39,161)
- Receivables within one year -€12,245
down €12,245 (-47.6%), from €25,736 to €13,492
of which Trade receivables: -€6,745
- Other debts +€40,740
up €40,740 (+162.9%), from €25,004 to €65,744
- Profit (loss) carried forward -€26,355
no longer reported in 2025 (was €26,355)
- Gross operating margin +€13,000
up €13,000 (+34.2%), from €37,998 to €50,998
- Taxes +€2,827
up €2,827 (+36.5%), from €7,755 to €10,582
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 | €76,111 | €90,956 | +€14,846 | +19.5% |
| Fixed assets | 21/28 | €1,778 | €1,626 | -€152 | -8.5% |
| Tangible fixed assets | 22/27 | €1,778 | €1,626 | -€152 | -8.5% |
| Furniture and vehicles | 24 | €1,685 | €1,626 | -€58 | -3.5% |
| Other tangible fixed assets | 26 | €94 | - | -€94 | |
| Current assets | 29/58 | €74,332 | €89,330 | +€14,997 | +20.2% |
| Amounts receivable within one year | 40/41 | €25,736 | €13,492 | -€12,245 | -47.6% |
| Trade receivables | 40 | €20,236 | €13,492 | -€6,745 | -33.3% |
| Other amounts receivable | 41 | €5,500 | - | -€5,500 | |
| Cash at bank and in hand | 54/58 | €41,626 | €68,789 | +€27,163 | +65.3% |
| Deferred charges and accrued income | 490/1 | €6,970 | €7,049 | +€80 | +1.1% |
| Total equity and liabilities | 10/49 | €76,111 | €90,956 | +€14,846 | +19.5% |
| Equity | 10/15 | €46,815 | €20,460 | -€26,355 | -56.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,355 | - | -€26,355 | |
| Amounts payable | 17/49 | €29,296 | €70,496 | +€41,201 | +140.6% |
| Amounts payable within one year | 42/48 | €29,296 | €70,496 | +€41,201 | +140.6% |
| Trade debts | 44 | €842 | €1,033 | +€191 | +22.6% |
| Suppliers | 440/4 | €842 | €1,033 | +€191 | +22.6% |
| Taxes, remuneration and social security | 45 | €3,450 | €3,720 | +€270 | +7.8% |
| Taxes | 450/3 | €3,450 | €3,720 | +€270 | +7.8% |
| Other amounts payable | 47/48 | €25,004 | €65,744 | +€40,740 | +162.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €605 | €915 | +€310 | +51.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €37,998 | €50,998 | +€13,000 | +34.2% |
| Operating profit (loss) | 9901 | €37,006 | €49,684 | +€12,678 | +34.3% |
| Financial income | 75/76B | €20 | €201 | +€181 | +904.8% |
| Recurring financial income | 75 | €20 | €201 | +€181 | +904.8% |
| Financial charges | 65/66B | €120 | €142 | +€22 | +18.6% |
| Recurring financial charges | 65 | €120 | €142 | +€22 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | €36,906 | €49,743 | +€12,837 | +34.8% |
| Income taxes | 67/77 | €7,755 | €10,582 | +€2,827 | +36.5% |
| Profit (loss) for the period | 9904 | €29,151 | €39,161 | +€10,010 | +34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,151 | €39,161 | +€10,010 | +34.3% |
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 8 October 2026 via checked.be.