LEARNABLE: what changed
Two fiscal 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.
LEARNABLE
Largest movements
- Receivables within one year +€12,010
up €12,010 (+34.0%), from €35,346 to €47,355
of which Trade receivables: +€13,762
- Tangible fixed assets -€6,811
down €6,811 (-43.0%), from €15,830 to €9,019
- Cash -€1,199
no longer reported in 2025 (was €1,199)
mainly Receivables within one year (-€12,010) and Tax, wage and social debts (-€4,185)
- Other debts +€6,286
up €6,286 (+645.2%), from €974 to €7,260
- Tax, wage and social debts -€4,185
down €4,185 (-12.7%), from €32,934 to €28,750
of which Taxes: -€3,942
- Current portion of long-term debt -€3,037
down €3,037 (-67.2%), from €4,519 to €1,482
- Short-term financial debts +€2,206
new in 2025: €2,206
- Profit (loss) carried forward +€1,449
up €1,449 (+13.4%), from €10,800 to €12,249
- Staff costs +€22,818
up €22,818 (+17.3%), from €131,579 to €154,397
- Gross operating margin +€22,174
up €22,174 (+15.3%), from €145,102 to €167,276
- Financial charges +€3,548
up €3,548 (+218.6%), from €1,623 to €5,171
- Taxes -€2,030
down €2,030 (-78.6%), from €2,583 to €554
- Depreciation +€1,906
up €1,906 (+38.9%), from €4,905 to €6,811
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 | €52,374 | €56,374 | +€4,000 | +7.6% |
| Fixed assets | 21/28 | €15,830 | €9,019 | -€6,811 | -43.0% |
| Tangible fixed assets | 22/27 | €15,830 | €9,019 | -€6,811 | -43.0% |
| Furniture and vehicles | 24 | €15,830 | €9,019 | -€6,811 | -43.0% |
| Current assets | 29/58 | €36,544 | €47,355 | +€10,811 | +29.6% |
| Amounts receivable within one year | 40/41 | €35,346 | €47,355 | +€12,010 | +34.0% |
| Trade receivables | 40 | €33,593 | €47,355 | +€13,762 | +41.0% |
| Other amounts receivable | 41 | €1,753 | - | -€1,753 | |
| Cash at bank and in hand | 54/58 | €1,199 | - | -€1,199 | |
| Total equity and liabilities | 10/49 | €52,374 | €56,374 | +€4,000 | +7.6% |
| Equity | 10/15 | €12,000 | €13,449 | +€1,449 | +12.1% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,800 | €12,249 | +€1,449 | +13.4% |
| Amounts payable | 17/49 | €40,375 | €42,925 | +€2,551 | +6.3% |
| Amounts payable after more than one year | 17 | €1,947 | €3,227 | +€1,280 | +65.7% |
| Financial debts | 170/4 | €1,947 | €3,227 | +€1,280 | +65.7% |
| Amounts payable within one year | 42/48 | €38,427 | €39,698 | +€1,271 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €4,519 | €1,482 | -€3,037 | -67.2% |
| Financial debts | 43 | - | €2,206 | +€2,206 | |
| Credit institutions | 430/8 | - | €2,206 | +€2,206 | |
| Taxes, remuneration and social security | 45 | €32,934 | €28,750 | -€4,185 | -12.7% |
| Taxes | 450/3 | €26,126 | €22,184 | -€3,942 | -15.1% |
| Remuneration and social security | 454/9 | €6,808 | €6,565 | -€243 | -3.6% |
| Other amounts payable | 47/48 | €974 | €7,260 | +€6,286 | +645.2% |
| Remuneration, social security and pensions | 62 | €131,579 | €154,397 | +€22,818 | +17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,905 | €6,811 | +€1,906 | +38.9% |
| Other operating charges | 640/8 | €844 | €124 | -€720 | -85.3% |
| Gross operating margin | 9900 | €145,102 | €167,276 | +€22,174 | +15.3% |
| Operating profit (loss) | 9901 | €7,775 | €5,944 | -€1,831 | -23.5% |
| Financial income | 75/76B | €876 | €1,229 | +€353 | +40.3% |
| Recurring financial income | 75 | €876 | €1,229 | +€353 | +40.3% |
| Financial charges | 65/66B | €1,623 | €5,171 | +€3,548 | +218.6% |
| Recurring financial charges | 65 | €1,623 | €5,171 | +€3,548 | +218.6% |
| Profit (loss) for the period before taxes | 9903 | €7,028 | €2,003 | -€5,026 | -71.5% |
| Income taxes | 67/77 | €2,583 | €554 | -€2,030 | -78.6% |
| Profit (loss) for the period | 9904 | €4,445 | €1,449 | -€2,996 | -67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,445 | €1,449 | -€2,996 | -67.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.