Let it start: 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.
Let it start
Largest movements
- Cash +€55,592
up €55,592 (+72.4%), from €76,757 to €132,349
mainly Net result for the year (+€56,557) and Receivables within one year (+€4,365)
- Receivables within one year -€4,365
down €4,365 (-14.5%), from €30,038 to €25,674
of which Trade receivables: -€9,806
- Profit (loss) carried forward +€56,557
up €56,557 (+59.5%), from €95,024 to €151,581
- Tax, wage and social debts -€5,193
down €5,193 (-47.7%), from €10,878 to €5,685
- Taxes -€3,544
down €3,544 (-19.6%), from €18,102 to €14,558
- Gross operating margin +€1,072
up €1,072 (+1.5%), from €70,522 to €71,594
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 | €111,696 | €162,609 | +€50,913 | +45.6% |
| Fixed assets | 21/28 | €4,814 | €4,429 | -€385 | -8.0% |
| Tangible fixed assets | 22/27 | €924 | €539 | -€385 | -41.6% |
| Furniture and vehicles | 24 | €924 | €539 | -€385 | -41.6% |
| Financial fixed assets | 28 | €3,890 | €3,890 | = | 0.0% |
| Current assets | 29/58 | €106,882 | €158,180 | +€51,298 | +48.0% |
| Amounts receivable within one year | 40/41 | €30,038 | €25,674 | -€4,365 | -14.5% |
| Trade receivables | 40 | €23,141 | €13,334 | -€9,806 | -42.4% |
| Other amounts receivable | 41 | €6,898 | €12,339 | +€5,442 | +78.9% |
| Cash at bank and in hand | 54/58 | €76,757 | €132,349 | +€55,592 | +72.4% |
| Deferred charges and accrued income | 490/1 | €87 | €157 | +€70 | +81.1% |
| Total equity and liabilities | 10/49 | €111,696 | €162,609 | +€50,913 | +45.6% |
| Equity | 10/15 | €100,024 | €156,581 | +€56,557 | +56.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,024 | €151,581 | +€56,557 | +59.5% |
| Amounts payable | 17/49 | €11,672 | €6,028 | -€5,644 | -48.4% |
| Amounts payable within one year | 42/48 | €11,672 | €6,028 | -€5,644 | -48.4% |
| Trade debts | 44 | €794 | €343 | -€451 | -56.8% |
| Suppliers | 440/4 | €794 | €343 | -€451 | -56.8% |
| Taxes, remuneration and social security | 45 | €10,878 | €5,685 | -€5,193 | -47.7% |
| Taxes | 450/3 | €10,878 | €5,685 | -€5,193 | -47.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €230 | €385 | +€155 | +67.1% |
| Gross operating margin | 9900 | €70,522 | €71,594 | +€1,072 | +1.5% |
| Operating profit (loss) | 9901 | €70,292 | €71,209 | +€917 | +1.3% |
| Financial charges | 65/66B | €45 | €94 | +€48 | +107% |
| Recurring financial charges | 65 | €45 | €94 | +€48 | +107% |
| Profit (loss) for the period before taxes | 9903 | €70,247 | €71,115 | +€869 | +1.2% |
| Income taxes | 67/77 | €18,102 | €14,558 | -€3,544 | -19.6% |
| Profit (loss) for the period | 9904 | €52,144 | €56,557 | +€4,413 | +8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €52,144 | €56,557 | +€4,413 | +8.5% |
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 19 October 2026 via checked.be.