L & L: 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.
L & L
Largest movements
- Cash +€14,607
up €14,607 (+14.5%), from €100,995 to €115,602
mainly Net result for the year (+€9,369) and Receivables within one year (+€8,234)
- Receivables within one year -€8,234
down €8,234 (-61.6%), from €13,375 to €5,141
of which Trade receivables: -€8,169
- Tangible fixed assets +€5,308
up €5,308 (+60.5%), from €8,776 to €14,085
of which Furniture and vehicles: +€3,426
- Reserves +€9,369
up €9,369 (+3.4%), from €275,904 to €285,274
- Financial income -€43,867
down €43,867 (-92.4%), from €47,484 to €3,617
of which Non-recurring financial income: -€45,218
- Gross operating margin -€35,341
down €35,341 (-50.0%), from €70,666 to €35,325
- Taxes +€6,587
up €6,587 (+42.3%), from €15,554 to €22,141
- Financial charges +€3,318
up €3,318 (+231%), from €1,439 to €4,757
- Depreciation -€3,110
down €3,110 (-68.0%), from €4,572 to €1,462
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 | €280,871 | €292,398 | +€11,527 | +4.1% |
| Fixed assets | 21/28 | €8,776 | €14,085 | +€5,308 | +60.5% |
| Tangible fixed assets | 22/27 | €8,776 | €14,085 | +€5,308 | +60.5% |
| Plant, machinery and equipment | 23 | €741 | €555 | -€185 | -25.0% |
| Furniture and vehicles | 24 | €1,701 | €5,127 | +€3,426 | +201% |
| Other tangible fixed assets | 26 | €6,335 | €8,402 | +€2,067 | +32.6% |
| Current assets | 29/58 | €272,095 | €278,313 | +€6,219 | +2.3% |
| Amounts receivable within one year | 40/41 | €13,375 | €5,141 | -€8,234 | -61.6% |
| Trade receivables | 40 | €13,087 | €4,918 | -€8,169 | -62.4% |
| Other amounts receivable | 41 | €288 | €223 | -€66 | -22.7% |
| Current investments | 50/53 | €156,031 | €155,318 | -€713 | -0.5% |
| Cash at bank and in hand | 54/58 | €100,995 | €115,602 | +€14,607 | +14.5% |
| Deferred charges and accrued income | 490/1 | €1,694 | €2,253 | +€559 | +33.0% |
| Total equity and liabilities | 10/49 | €280,871 | €292,398 | +€11,527 | +4.1% |
| Equity | 10/15 | €275,904 | €285,274 | +€9,369 | +3.4% |
| Reserves | 13 | €275,904 | €285,274 | +€9,369 | +3.4% |
| Distributable reserves | 133 | €275,904 | €285,274 | +€9,369 | +3.4% |
| Amounts payable | 17/49 | €4,967 | €7,124 | +€2,158 | +43.4% |
| Amounts payable within one year | 42/48 | €4,967 | €7,124 | +€2,158 | +43.4% |
| Trade debts | 44 | €163 | €336 | +€173 | +106% |
| Suppliers | 440/4 | €163 | €336 | +€173 | +106% |
| Taxes, remuneration and social security | 45 | €4,230 | €6,753 | +€2,523 | +59.6% |
| Taxes | 450/3 | €4,230 | €6,753 | +€2,523 | +59.6% |
| Other amounts payable | 47/48 | €573 | €35 | -€538 | -94.0% |
| Non-recurring operating income | 76A | €12,046 | - | -€12,046 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,572 | €1,462 | -€3,110 | -68.0% |
| Other operating charges | 640/8 | €901 | €1,212 | +€311 | +34.5% |
| Gross operating margin | 9900 | €70,666 | €35,325 | -€35,341 | -50.0% |
| Operating profit (loss) | 9901 | €65,193 | €32,651 | -€32,542 | -49.9% |
| Financial income | 75/76B | €47,484 | €3,617 | -€43,867 | -92.4% |
| Recurring financial income | 75 | €2,266 | €3,617 | +€1,351 | +59.6% |
| Non-recurring financial income | 76B | €45,218 | - | -€45,218 | |
| Financial charges | 65/66B | €1,439 | €4,757 | +€3,318 | +231% |
| Recurring financial charges | 65 | €1,439 | €4,757 | +€3,318 | +231% |
| Profit (loss) for the period before taxes | 9903 | €111,238 | €31,510 | -€79,728 | -71.7% |
| Income taxes | 67/77 | €15,554 | €22,141 | +€6,587 | +42.3% |
| Profit (loss) for the period | 9904 | €95,684 | €9,369 | -€86,314 | -90.2% |
| Profit (loss) for the period to be appropriated | 9905 | €95,684 | €9,369 | -€86,314 | -90.2% |
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 14 October 2026 via checked.be.