LE 20.10: 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.
LE 20.10
Largest movements
- Cash +€28,810
up €28,810 (+136%), from €21,246 to €50,056
mainly Net result for the year (+€51,360) and Receivables within one year (+€13,375)
- Receivables within one year -€13,375
down €13,375 (-79.6%), from €16,812 to €3,437
- Tangible fixed assets +€12,513
up €12,513 (+82.8%), from €15,115 to €27,628
of which Furniture and vehicles: +€11,787
- Intangible fixed assets -€1,650
down €1,650 (-11.8%), from €13,968 to €12,318
- Profit (loss) carried forward +€50,527
up €50,527 (+12,297%), from €411 to €50,938
- Other debts -€17,274
down €17,274 (-44.7%), from €38,661 to €21,386
- Trade debts -€10,743
down €10,743 (-54.9%), from €19,564 to €8,821
- Tax, wage and social debts +€2,832
up €2,832 (+17.3%), from €16,360 to €19,192
of which Taxes: +€3,924
- Accrued charges and deferred income +€1,215
new in 2025: €1,215
- Gross operating margin +€90,069
up €90,069 (+349%), from €25,824 to €115,893
- Staff costs +€11,126
up €11,126 (+41.3%), from €26,911 to €38,037
- Taxes +€10,877
up €10,877 (+8,498%), from €128 to €11,005
- Depreciation +€3,906
up €3,906 (+56.5%), from €6,909 to €10,815
- Financial charges +€1,915
up €1,915 (+166%), from €1,153 to €3,068
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 | €76,996 | €103,552 | +€26,556 | +34.5% |
| Fixed assets | 21/28 | €32,249 | €43,401 | +€11,153 | +34.6% |
| Intangible fixed assets | 21 | €13,968 | €12,318 | -€1,650 | -11.8% |
| Tangible fixed assets | 22/27 | €15,115 | €27,628 | +€12,513 | +82.8% |
| Plant, machinery and equipment | 23 | €8,125 | €4,617 | -€3,508 | -43.2% |
| Furniture and vehicles | 24 | €6,991 | €18,778 | +€11,787 | +169% |
| Other tangible fixed assets | 26 | - | €4,234 | +€4,234 | |
| Financial fixed assets | 28 | €3,165 | €3,455 | +€290 | +9.2% |
| Current assets | 29/58 | €44,747 | €60,151 | +€15,404 | +34.4% |
| Stocks and contracts in progress | 3 | €6,000 | €6,000 | = | 0.0% |
| Stocks | 30/36 | €6,000 | €6,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16,812 | €3,437 | -€13,375 | -79.6% |
| Trade receivables | 40 | €16,812 | €3,437 | -€13,375 | -79.6% |
| Cash at bank and in hand | 54/58 | €21,246 | €50,056 | +€28,810 | +136% |
| Deferred charges and accrued income | 490/1 | €689 | €657 | -€32 | -4.6% |
| Total equity and liabilities | 10/49 | €76,996 | €103,552 | +€26,556 | +34.5% |
| Equity | 10/15 | €2,411 | €52,938 | +€50,527 | +2,096% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €411 | €50,938 | +€50,527 | +12,297% |
| Amounts payable | 17/49 | €74,585 | €50,615 | -€23,970 | -32.1% |
| Amounts payable within one year | 42/48 | €74,585 | €49,400 | -€25,185 | -33.8% |
| Trade debts | 44 | €19,564 | €8,821 | -€10,743 | -54.9% |
| Suppliers | 440/4 | €19,564 | €8,821 | -€10,743 | -54.9% |
| Taxes, remuneration and social security | 45 | €16,360 | €19,192 | +€2,832 | +17.3% |
| Taxes | 450/3 | €8,647 | €12,571 | +€3,924 | +45.4% |
| Remuneration and social security | 454/9 | €7,713 | €6,621 | -€1,092 | -14.2% |
| Other amounts payable | 47/48 | €38,661 | €21,386 | -€17,274 | -44.7% |
| Accrued charges and deferred income | 492/3 | - | €1,215 | +€1,215 | |
| Remuneration, social security and pensions | 62 | €26,911 | €38,037 | +€11,126 | +41.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,909 | €10,815 | +€3,906 | +56.5% |
| Other operating charges | 640/8 | €2,419 | €1,638 | -€781 | -32.3% |
| Non-recurring operating charges | 66A | €802 | - | -€802 | |
| Gross operating margin | 9900 | €25,824 | €115,893 | +€90,069 | +349% |
| Operating profit (loss) | 9901 | -€11,216 | €65,403 | +€76,619 | |
| Financial income | 75/76B | €1 | €30 | +€28 | +2,206% |
| Recurring financial income | 75 | €1 | €30 | +€28 | +2,206% |
| Financial charges | 65/66B | €1,153 | €3,068 | +€1,915 | +166% |
| Recurring financial charges | 65 | €1,153 | €3,068 | +€1,915 | +166% |
| Profit (loss) for the period before taxes | 9903 | -€12,368 | €62,365 | +€74,732 | |
| Income taxes | 67/77 | €128 | €11,005 | +€10,877 | +8,498% |
| Profit (loss) for the period | 9904 | -€12,496 | €51,360 | +€63,855 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,496 | €51,360 | +€63,855 |
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 23 October 2026 via checked.be.