launchbird: 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.
launchbird
Largest movements
- Receivables within one year +€14,228
up €14,228 (+54.2%), from €26,259 to €40,486
of which Other amounts receivable: +€16,066
- Current investments +€6,853
up €6,853 (+50.8%), from €13,500 to €20,352
- Tangible fixed assets +€2,926
up €2,926 (+21.0%), from €13,914 to €16,840
of which Other tangible fixed assets: +€5,317
- Deferred charges and accrued income +€1,641
new in 2025: €1,641
- Profit (loss) carried forward +€28,383
up €28,383 (+173%), from €16,366 to €44,748
- Tax, wage and social debts -€3,072
down €3,072 (-25.5%), from €12,053 to €8,981
of which Taxes: -€2,906
- Current portion of long-term debt +€2,280
up €2,280 (+60.6%), from €3,760 to €6,040
- Other debts -€2,232
no longer reported in 2025 (was €2,232)
- Gross operating margin +€3,791
up €3,791 (+10.0%), from €38,043 to €41,834
- Financial income +€3,756
up €3,756 (+10,947%), from €34 to €3,790
- Taxes +€1,321
up €1,321 (+16.1%), from €8,214 to €9,536
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 | €84,826 | €109,544 | +€24,718 | +29.1% |
| Fixed assets | 21/28 | €13,914 | €16,840 | +€2,926 | +21.0% |
| Tangible fixed assets | 22/27 | €13,914 | €16,840 | +€2,926 | +21.0% |
| Plant, machinery and equipment | 23 | €994 | €953 | -€41 | -4.1% |
| Furniture and vehicles | 24 | €9,074 | €6,724 | -€2,350 | -25.9% |
| Other tangible fixed assets | 26 | €3,847 | €9,164 | +€5,317 | +138% |
| Current assets | 29/58 | €70,912 | €92,704 | +€21,792 | +30.7% |
| Amounts receivable within one year | 40/41 | €26,259 | €40,486 | +€14,228 | +54.2% |
| Trade receivables | 40 | €16,259 | €14,420 | -€1,838 | -11.3% |
| Other amounts receivable | 41 | €10,000 | €26,066 | +€16,066 | +161% |
| Current investments | 50/53 | €13,500 | €20,352 | +€6,853 | +50.8% |
| Cash at bank and in hand | 54/58 | €31,153 | €30,224 | -€929 | -3.0% |
| Deferred charges and accrued income | 490/1 | - | €1,641 | +€1,641 | |
| Total equity and liabilities | 10/49 | €84,826 | €109,544 | +€24,718 | +29.1% |
| Equity | 10/15 | €64,211 | €92,593 | +€28,383 | +44.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €29,245 | €29,245 | = | 0.0% |
| Distributable reserves | 133 | €29,245 | €29,245 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,366 | €44,748 | +€28,383 | +173% |
| Amounts payable | 17/49 | €20,615 | €16,951 | -€3,665 | -17.8% |
| Amounts payable within one year | 42/48 | €20,615 | €16,951 | -€3,665 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €3,760 | €6,040 | +€2,280 | +60.6% |
| Trade debts | 44 | €2,570 | €1,929 | -€641 | -24.9% |
| Suppliers | 440/4 | €2,570 | €1,929 | -€641 | -24.9% |
| Taxes, remuneration and social security | 45 | €12,053 | €8,981 | -€3,072 | -25.5% |
| Taxes | 450/3 | €11,887 | €8,981 | -€2,906 | -24.4% |
| Remuneration and social security | 454/9 | €166 | - | -€166 | |
| Other amounts payable | 47/48 | €2,232 | - | -€2,232 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,159 | €6,449 | +€290 | +4.7% |
| Other operating charges | 640/8 | €692 | €529 | -€163 | -23.5% |
| Gross operating margin | 9900 | €38,043 | €41,834 | +€3,791 | +10.0% |
| Operating profit (loss) | 9901 | €31,193 | €34,857 | +€3,664 | +11.7% |
| Financial income | 75/76B | €34 | €3,790 | +€3,756 | +10,947% |
| Recurring financial income | 75 | €34 | €3,790 | +€3,756 | +10,947% |
| Financial charges | 65/66B | €1,061 | €729 | -€332 | -31.3% |
| Recurring financial charges | 65 | €1,061 | €729 | -€332 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €30,167 | €37,918 | +€7,752 | +25.7% |
| Income taxes | 67/77 | €8,214 | €9,536 | +€1,321 | +16.1% |
| Profit (loss) for the period | 9904 | €21,952 | €28,383 | +€6,430 | +29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,952 | €28,383 | +€6,430 | +29.3% |
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 28 October 2026 via checked.be.