LEVEL: 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.
LEVEL
Largest movements
- Cash +€28,631
up €28,631 (+331%), from €8,647 to €37,278
mainly Debts after one year (+€28,375) and Depreciation (+€17,329)
- Receivables within one year +€21,692
up €21,692 (+117%), from €18,526 to €40,219
of which Trade receivables: +€21,340
- Tangible fixed assets +€12,671
up €12,671 (+21.5%), from €59,010 to €71,681
of which Furniture and vehicles: +€28,249
- Debts after one year +€28,375
up €28,375 (+189%), from €14,996 to €43,371
- Trade debts +€15,630
up €15,630 (+193%), from €8,083 to €23,713
- Current portion of long-term debt +€8,883
new in 2025: €8,883
- Other debts +€8,798
up €8,798 (+32.4%), from €27,180 to €35,978
- Reserves +€4,855
up €4,855 (+81.4%), from €5,967 to €10,822
of which Distributable reserves: +€4,855
- Gross operating margin +€40,477
up €40,477 (+53.5%), from €75,673 to €116,149
- Staff costs +€28,111
up €28,111 (+53.0%), from €52,992 to €81,103
- Write-downs +€5,915
new in 2025: €5,915
- Taxes +€2,679
up €2,679 (+145%), from €1,843 to €4,522
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 | €88,597 | €153,548 | +€64,951 | +73.3% |
| Fixed assets | 21/28 | €59,144 | €71,815 | +€12,671 | +21.4% |
| Tangible fixed assets | 22/27 | €59,010 | €71,681 | +€12,671 | +21.5% |
| Plant, machinery and equipment | 23 | €55,296 | €39,718 | -€15,578 | -28.2% |
| Furniture and vehicles | 24 | €3,713 | €31,963 | +€28,249 | +761% |
| Financial fixed assets | 28 | €134 | €134 | = | 0.0% |
| Current assets | 29/58 | €29,454 | €81,733 | +€52,280 | +177% |
| Stocks and contracts in progress | 3 | €1,101 | €2,518 | +€1,417 | +129% |
| Stocks | 30/36 | €1,101 | €2,518 | +€1,417 | +129% |
| Amounts receivable within one year | 40/41 | €18,526 | €40,219 | +€21,692 | +117% |
| Trade receivables | 40 | €18,506 | €39,846 | +€21,340 | +115% |
| Other amounts receivable | 41 | €20 | €373 | +€352 | +1,744% |
| Cash at bank and in hand | 54/58 | €8,647 | €37,278 | +€28,631 | +331% |
| Deferred charges and accrued income | 490/1 | €1,179 | €1,719 | +€539 | +45.7% |
| Total equity and liabilities | 10/49 | €88,597 | €153,548 | +€64,951 | +73.3% |
| Equity | 10/15 | €14,667 | €19,522 | +€4,855 | +33.1% |
| Contributions | 10/11 | €8,700 | €8,700 | = | 0.0% |
| Reserves | 13 | €5,967 | €10,822 | +€4,855 | +81.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €4,107 | €8,962 | +€4,855 | +118% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €73,930 | €134,027 | +€60,096 | +81.3% |
| Amounts payable after more than one year | 17 | €14,996 | €43,371 | +€28,375 | +189% |
| Financial debts | 170/4 | €14,996 | €43,371 | +€28,375 | +189% |
| Amounts payable within one year | 42/48 | €57,052 | €89,153 | +€32,100 | +56.3% |
| Current portion of amounts payable after more than one year | 42 | - | €8,883 | +€8,883 | |
| Financial debts | 43 | €200 | €40 | -€161 | -80.1% |
| Credit institutions | 430/8 | €200 | €40 | -€161 | -80.1% |
| Trade debts | 44 | €8,083 | €23,713 | +€15,630 | +193% |
| Suppliers | 440/4 | €8,083 | €23,713 | +€15,630 | +193% |
| Taxes, remuneration and social security | 45 | €21,589 | €20,540 | -€1,050 | -4.9% |
| Taxes | 450/3 | €15,042 | €6,848 | -€8,194 | -54.5% |
| Remuneration and social security | 454/9 | €6,547 | €13,691 | +€7,144 | +109% |
| Other amounts payable | 47/48 | €27,180 | €35,978 | +€8,798 | +32.4% |
| Accrued charges and deferred income | 492/3 | €1,882 | €1,503 | -€379 | -20.1% |
| Remuneration, social security and pensions | 62 | €52,992 | €81,103 | +€28,111 | +53.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,395 | €17,329 | -€66 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,915 | +€5,915 | |
| Other operating charges | 640/8 | €1,120 | €1,202 | +€82 | +7.3% |
| Gross operating margin | 9900 | €75,673 | €116,149 | +€40,477 | +53.5% |
| Operating profit (loss) | 9901 | €4,166 | €10,600 | +€6,434 | +154% |
| Financial income | 75/76B | €58 | €9 | -€48 | -83.8% |
| Recurring financial income | 75 | €58 | €9 | -€48 | -83.8% |
| Financial charges | 65/66B | €1,806 | €1,233 | -€573 | -31.7% |
| Recurring financial charges | 65 | €1,806 | €1,233 | -€573 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €2,418 | €9,377 | +€6,958 | +288% |
| Income taxes | 67/77 | €1,843 | €4,522 | +€2,679 | +145% |
| Profit (loss) for the period | 9904 | €575 | €4,855 | +€4,280 | +744% |
| Profit (loss) for the period to be appropriated | 9905 | €575 | €4,855 | +€4,280 | +744% |
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 15 October 2026 via checked.be.