Learning Journey: 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.
Learning Journey
Largest movements
- Cash +€52,938
up €52,938 (+5170.5%), from €1,024 to €53,962
mainly Net result for the year (+€45,613) and Depreciation (+€5,868)
- Tangible fixed assets -€5,868
down €5,868 (-34.7%), from €16,919 to €11,051
of which Furniture and vehicles: -€5,470
- Receivables within one year -€3,155
down €3,155 (-23.2%), from €13,613 to €10,459
of which Trade receivables: -€3,932
- Reserves +€45,613
up €45,613 (+260.0%), from €17,545 to €63,159
- Tax, wage and social debts -€3,252
down €3,252 (-46.9%), from €6,933 to €3,681
- Other debts +€1,685
up €1,685 (+26.5%), from €6,352 to €8,037
- Gross operating margin +€40,334
up €40,334 (+169.6%), from €23,783 to €64,117
- Taxes +€7,617
up €7,617 (+165.4%), from €4,605 to €12,222
- Depreciation +€4,389
up €4,389 (+296.7%), from €1,479 to €5,868
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 | €34,117 | €78,132 | +€44,015 | +129.0% |
| Fixed assets | 21/28 | €16,919 | €11,501 | -€5,418 | -32.0% |
| Tangible fixed assets | 22/27 | €16,919 | €11,051 | -€5,868 | -34.7% |
| Furniture and vehicles | 24 | €15,031 | €9,561 | -€5,470 | -36.4% |
| Other tangible fixed assets | 26 | €1,888 | €1,490 | -€398 | -21.1% |
| Financial fixed assets | 28 | - | €450 | +€450 | |
| Current assets | 29/58 | €17,198 | €66,631 | +€49,433 | +287.4% |
| Amounts receivable within one year | 40/41 | €13,613 | €10,459 | -€3,155 | -23.2% |
| Trade receivables | 40 | €13,613 | €9,681 | -€3,932 | -28.9% |
| Other amounts receivable | 41 | - | €778 | +€778 | |
| Cash at bank and in hand | 54/58 | €1,024 | €53,962 | +€52,938 | +5170.5% |
| Deferred charges and accrued income | 490/1 | €2,561 | €2,210 | -€350 | -13.7% |
| Total equity and liabilities | 10/49 | €34,117 | €78,132 | +€44,015 | +129.0% |
| Equity | 10/15 | €20,545 | €66,159 | +€45,613 | +222.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €17,545 | €63,159 | +€45,613 | +260.0% |
| Distributable reserves | 133 | €17,545 | €63,159 | +€45,613 | +260.0% |
| Amounts payable | 17/49 | €13,572 | €11,974 | -€1,598 | -11.8% |
| Amounts payable within one year | 42/48 | €13,572 | €11,718 | -€1,854 | -13.7% |
| Trade debts | 44 | €287 | - | -€287 | |
| Suppliers | 440/4 | €287 | - | -€287 | |
| Taxes, remuneration and social security | 45 | €6,933 | €3,681 | -€3,252 | -46.9% |
| Taxes | 450/3 | €6,933 | €3,681 | -€3,252 | -46.9% |
| Other amounts payable | 47/48 | €6,352 | €8,037 | +€1,685 | +26.5% |
| Accrued charges and deferred income | 492/3 | - | €256 | +€256 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,479 | €5,868 | +€4,389 | +296.7% |
| Other operating charges | 640/8 | €160 | €354 | +€194 | +121.5% |
| Gross operating margin | 9900 | €23,783 | €64,117 | +€40,334 | +169.6% |
| Operating profit (loss) | 9901 | €22,144 | €57,895 | +€35,751 | +161.4% |
| Financial income | 75/76B | €15 | €1 | -€14 | -93.3% |
| Recurring financial income | 75 | €15 | €1 | -€14 | -93.3% |
| Financial charges | 65/66B | €9 | €60 | +€51 | +553.5% |
| Recurring financial charges | 65 | €9 | €60 | +€51 | +553.5% |
| Profit (loss) for the period before taxes | 9903 | €22,150 | €57,836 | +€35,686 | +161.1% |
| Income taxes | 67/77 | €4,605 | €12,222 | +€7,617 | +165.4% |
| Profit (loss) for the period | 9904 | €17,545 | €45,613 | +€28,068 | +160.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,545 | €45,613 | +€28,068 | +160.0% |
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 10 October 2026 via checked.be.