L. Management: 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. Management
Largest movements
- Cash +€22,923
up €22,923 (+144%), from €15,972 to €38,894
mainly Net result for the year (+€24,418) and Depreciation (+€954)
- Deferred charges and accrued income +€1,341
up €1,341, from €0 to €1,341
- Tangible fixed assets -€954
down €954 (-32.7%), from €2,914 to €1,959
- Profit (loss) carried forward +€24,418
up €24,418 (+203%), from €12,023 to €36,441
- Tax, wage and social debts -€765
down €765 (-18.2%), from €4,206 to €3,440
- Gross operating margin +€14,030
up €14,030 (+69.7%), from €20,142 to €34,172
- Taxes +€3,389
up €3,389 (+88.0%), from €3,849 to €7,238
- Financial charges -€927
down €927 (-39.3%), from €2,362 to €1,435
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 | €22,441 | €46,179 | +€23,737 | +106% |
| Fixed assets | 21/28 | €6,414 | €5,459 | -€954 | -14.9% |
| Tangible fixed assets | 22/27 | €2,914 | €1,959 | -€954 | -32.7% |
| Furniture and vehicles | 24 | €2,914 | €1,959 | -€954 | -32.7% |
| Financial fixed assets | 28 | €3,500 | €3,500 | = | 0.0% |
| Current assets | 29/58 | €16,028 | €40,719 | +€24,691 | +154% |
| Amounts receivable within one year | 40/41 | €56 | €484 | +€427 | +761% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €56 | €484 | +€427 | +761% |
| Cash at bank and in hand | 54/58 | €15,972 | €38,894 | +€22,923 | +144% |
| Deferred charges and accrued income | 490/1 | €0 | €1,341 | +€1,341 | |
| Total equity and liabilities | 10/49 | €22,441 | €46,179 | +€23,737 | +106% |
| Equity | 10/15 | €18,023 | €42,441 | +€24,418 | +135% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,023 | €36,441 | +€24,418 | +203% |
| Amounts payable | 17/49 | €4,418 | €3,738 | -€680 | -15.4% |
| Amounts payable within one year | 42/48 | €4,418 | €3,738 | -€680 | -15.4% |
| Trade debts | 44 | €0 | €298 | +€298 | |
| Suppliers | 440/4 | €0 | €298 | +€298 | |
| Taxes, remuneration and social security | 45 | €4,206 | €3,440 | -€765 | -18.2% |
| Taxes | 450/3 | €4,206 | €3,440 | -€765 | -18.2% |
| Other amounts payable | 47/48 | €213 | €0 | -€213 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €878 | €954 | +€76 | +8.7% |
| Other operating charges | 640/8 | €179 | €128 | -€51 | -28.5% |
| Gross operating margin | 9900 | €20,142 | €34,172 | +€14,030 | +69.7% |
| Operating profit (loss) | 9901 | €19,085 | €33,090 | +€14,005 | +73.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,362 | €1,435 | -€927 | -39.3% |
| Recurring financial charges | 65 | €2,362 | €1,435 | -€927 | -39.3% |
| Profit (loss) for the period before taxes | 9903 | €16,723 | €31,655 | +€14,933 | +89.3% |
| Income taxes | 67/77 | €3,849 | €7,238 | +€3,389 | +88.0% |
| Profit (loss) for the period | 9904 | €12,874 | €24,418 | +€11,544 | +89.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,874 | €24,418 | +€11,544 | +89.7% |
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.