Lead-Out: 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.
Lead-Out
Largest movements
- Cash +€25,237
up €25,237 (+77.2%), from €32,704 to €57,941
mainly Net result for the year (+€27,309) and Tax, wage and social debts (+€5,308)
- Deferred charges and accrued income +€5,020
up €5,020 (+22.5%), from €22,335 to €27,355
- Receivables within one year +€1,553
up €1,553 (+14.3%), from €10,844 to €12,397
of which Other amounts receivable: +€1,067
- Reserves +€27,309
up €27,309 (+71.6%), from €38,151 to €65,460
- Tax, wage and social debts +€5,308
up €5,308 (+23.1%), from €22,954 to €28,262
- Trade debts +€3,207
up €3,207 (+483.1%), from €664 to €3,871
- Other debts -€3,200
no longer reported in 2025 (was €3,200)
- Gross operating margin +€4,075
up €4,075 (+12.1%), from €33,546 to €37,621
- Financial charges +€1,997
up €1,997 (+1175.7%), from €170 to €2,167
- Taxes -€960
down €960 (-10.9%), from €8,780 to €7,820
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 | €65,882 | €97,693 | +€31,810 | +48.3% |
| Current assets | 29/58 | €65,882 | €97,693 | +€31,810 | +48.3% |
| Amounts receivable within one year | 40/41 | €10,844 | €12,397 | +€1,553 | +14.3% |
| Trade receivables | 40 | €10,594 | €11,079 | +€486 | +4.6% |
| Other amounts receivable | 41 | €250 | €1,317 | +€1,067 | +426.9% |
| Cash at bank and in hand | 54/58 | €32,704 | €57,941 | +€25,237 | +77.2% |
| Deferred charges and accrued income | 490/1 | €22,335 | €27,355 | +€5,020 | +22.5% |
| Total equity and liabilities | 10/49 | €65,882 | €97,693 | +€31,810 | +48.3% |
| Equity | 10/15 | €38,251 | €65,560 | +€27,309 | +71.4% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €38,151 | €65,460 | +€27,309 | +71.6% |
| Distributable reserves | 133 | €38,151 | €65,460 | +€27,309 | +71.6% |
| Amounts payable | 17/49 | €27,632 | €32,132 | +€4,501 | +16.3% |
| Amounts payable within one year | 42/48 | €26,817 | €32,132 | +€5,315 | +19.8% |
| Trade debts | 44 | €664 | €3,871 | +€3,207 | +483.1% |
| Suppliers | 440/4 | €664 | €3,871 | +€3,207 | +483.1% |
| Taxes, remuneration and social security | 45 | €22,954 | €28,262 | +€5,308 | +23.1% |
| Taxes | 450/3 | €22,954 | €28,262 | +€5,308 | +23.1% |
| Other amounts payable | 47/48 | €3,200 | - | -€3,200 | |
| Accrued charges and deferred income | 492/3 | €814 | - | -€814 | |
| Other operating charges | 640/8 | €444 | €325 | -€119 | -26.9% |
| Gross operating margin | 9900 | €33,546 | €37,621 | +€4,075 | +12.1% |
| Operating profit (loss) | 9901 | €33,101 | €37,296 | +€4,194 | +12.7% |
| Financial charges | 65/66B | €170 | €2,167 | +€1,997 | +1175.7% |
| Recurring financial charges | 65 | €170 | €2,167 | +€1,997 | +1175.7% |
| Profit (loss) for the period before taxes | 9903 | €32,932 | €35,129 | +€2,198 | +6.7% |
| Income taxes | 67/77 | €8,780 | €7,820 | -€960 | -10.9% |
| Profit (loss) for the period | 9904 | €24,152 | €27,309 | +€3,158 | +13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,152 | €27,309 | +€3,158 | +13.1% |
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 11 October 2026 via checked.be.