LET'S MAKE IT WORK: 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'S MAKE IT WORK
Largest movements
- Current investments +€31,488
new in 2025: €31,488
- Cash +€29,991
up €29,991 (+16.1%), from €186,527 to €216,519
mainly Net result for the year (+€57,671) and Depreciation (+€4,709)
- Tangible fixed assets -€4,709
down €4,709 (-19.6%), from €24,077 to €19,368
of which Furniture and vehicles: -€2,475
- Receivables within one year -€3,588
down €3,588 (-15.0%), from €23,898 to €20,309
of which Other amounts receivable: -€2,548
- Reserves +€57,671
up €57,671 (+28.3%), from €203,622 to €261,293
- Debts after one year -€3,729
down €3,729 (-33.0%), from €11,300 to €7,571
- Gross operating margin +€46,135
up €46,135 (+105%), from €43,960 to €90,096
- Taxes +€12,918
up €12,918 (+134%), from €9,630 to €22,548
- Depreciation -€3,556
down €3,556 (-43.0%), from €8,265 to €4,709
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 | €235,153 | €288,210 | +€53,057 | +22.6% |
| Fixed assets | 21/28 | €24,077 | €19,368 | -€4,709 | -19.6% |
| Tangible fixed assets | 22/27 | €24,077 | €19,368 | -€4,709 | -19.6% |
| Land and buildings | 22 | €20,045 | €17,811 | -€2,234 | -11.1% |
| Furniture and vehicles | 24 | €4,032 | €1,558 | -€2,475 | -61.4% |
| Current assets | 29/58 | €211,076 | €268,841 | +€57,766 | +27.4% |
| Amounts receivable within one year | 40/41 | €23,898 | €20,309 | -€3,588 | -15.0% |
| Trade receivables | 40 | €13,528 | €12,487 | -€1,041 | -7.7% |
| Other amounts receivable | 41 | €10,370 | €7,822 | -€2,548 | -24.6% |
| Current investments | 50/53 | - | €31,488 | +€31,488 | |
| Cash at bank and in hand | 54/58 | €186,527 | €216,519 | +€29,991 | +16.1% |
| Deferred charges and accrued income | 490/1 | €651 | €525 | -€126 | -19.3% |
| Total equity and liabilities | 10/49 | €235,153 | €288,210 | +€53,057 | +22.6% |
| Equity | 10/15 | €213,622 | €271,293 | +€57,671 | +27.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €203,622 | €261,293 | +€57,671 | +28.3% |
| Distributable reserves | 133 | €203,622 | €261,293 | +€57,671 | +28.3% |
| Amounts payable | 17/49 | €21,531 | €16,916 | -€4,614 | -21.4% |
| Amounts payable after more than one year | 17 | €11,300 | €7,571 | -€3,729 | -33.0% |
| Financial debts | 170/4 | €11,300 | €7,571 | -€3,729 | -33.0% |
| Amounts payable within one year | 42/48 | €10,231 | €9,346 | -€885 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €3,692 | €3,729 | +€37 | +1.0% |
| Trade debts | 44 | €1,433 | €59 | -€1,373 | -95.9% |
| Suppliers | 440/4 | €1,433 | €59 | -€1,373 | -95.9% |
| Taxes, remuneration and social security | 45 | €4,025 | €4,476 | +€451 | +11.2% |
| Taxes | 450/3 | €4,025 | €4,476 | +€451 | +11.2% |
| Other amounts payable | 47/48 | €1,081 | €1,081 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €1,658 | €1,658 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,265 | €4,709 | -€3,556 | -43.0% |
| Other operating charges | 640/8 | €738 | €760 | +€22 | +3.0% |
| Non-recurring operating charges | 66A | - | €2,059 | +€2,059 | |
| Gross operating margin | 9900 | €43,960 | €90,096 | +€46,135 | +105% |
| Operating profit (loss) | 9901 | €33,299 | €80,909 | +€47,610 | +143% |
| Financial income | 75/76B | €22 | €12 | -€10 | -45.2% |
| Recurring financial income | 75 | €22 | €12 | -€10 | -45.2% |
| Financial charges | 65/66B | €237 | €702 | +€465 | +196% |
| Recurring financial charges | 65 | €237 | €702 | +€465 | +196% |
| Profit (loss) for the period before taxes | 9903 | €33,084 | €80,219 | +€47,135 | +142% |
| Income taxes | 67/77 | €9,630 | €22,548 | +€12,918 | +134% |
| Profit (loss) for the period | 9904 | €23,454 | €57,671 | +€34,217 | +146% |
| Profit (loss) for the period to be appropriated | 9905 | €23,454 | €57,671 | +€34,217 | +146% |
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 24 October 2026 via checked.be.