LEVEL 35: 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.
LEVEL 35
Largest movements
- Receivables within one year +€43,874
up €43,874 (+39.6%), from €110,900 to €154,774
of which Trade receivables: +€47,158
- Cash +€41,427
up €41,427 (+74.1%), from €55,888 to €97,315
mainly Net result for the year (+€300,749) and Other debts (+€41,708)
- Other debts +€41,708
up €41,708 (+19.6%), from €212,804 to €254,512
- Tax, wage and social debts +€41,500
up €41,500 (+157.4%), from €26,371 to €67,871
- Current portion of long-term debt +€5,670
up €5,670 (+39.0%), from €14,545 to €20,215
- Gross operating margin +€82,464
up €82,464 (+25.0%), from €329,799 to €412,263
- Taxes +€17,363
up €17,363 (+22.5%), from €77,294 to €94,657
- Other operating charges +€16,538
up €16,538 (+1846.1%), from €896 to €17,434
- Depreciation -€6,339
down €6,339 (-88.3%), from €7,177 to €838
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €279,710 | €365,736 | +€86,026 | +30.8% |
| Fixed assets | 21/28 | €7,944 | €6,980 | -€964 | -12.1% |
| Tangible fixed assets | 22/27 | €7,944 | €6,980 | -€964 | -12.1% |
| Furniture and vehicles | 24 | €1,917 | €6,980 | +€5,063 | +264.1% |
| Other tangible fixed assets | 26 | €6,027 | €0 | -€6,027 | -100.0% |
| Current assets | 29/58 | €271,766 | €358,756 | +€86,990 | +32.0% |
| Amounts receivable after more than one year | 29 | €103,560 | €103,560 | = | 0.0% |
| Other amounts receivable | 291 | €103,560 | €103,560 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €110,900 | €154,774 | +€43,874 | +39.6% |
| Trade receivables | 40 | €107,560 | €154,718 | +€47,158 | +43.8% |
| Other amounts receivable | 41 | €3,340 | €56 | -€3,284 | -98.3% |
| Cash at bank and in hand | 54/58 | €55,888 | €97,315 | +€41,427 | +74.1% |
| Deferred charges and accrued income | 490/1 | €1,418 | €3,107 | +€1,689 | +119.1% |
| Total equity and liabilities | 10/49 | €279,710 | €365,736 | +€86,026 | +30.8% |
| Equity | 10/15 | €22,930 | €21,679 | -€1,251 | -5.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,556 | €2,556 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,556 | €2,556 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,774 | €524 | -€1,251 | -70.5% |
| Amounts payable | 17/49 | €256,780 | €344,057 | +€87,276 | +34.0% |
| Amounts payable within one year | 42/48 | €256,780 | €344,057 | +€87,276 | +34.0% |
| Current portion of amounts payable after more than one year | 42 | €14,545 | €20,215 | +€5,670 | +39.0% |
| Trade debts | 44 | €3,060 | €1,458 | -€1,602 | -52.4% |
| Suppliers | 440/4 | €3,060 | €1,458 | -€1,602 | -52.4% |
| Taxes, remuneration and social security | 45 | €26,371 | €67,871 | +€41,500 | +157.4% |
| Taxes | 450/3 | €26,371 | €67,871 | +€41,500 | +157.4% |
| Other amounts payable | 47/48 | €212,804 | €254,512 | +€41,708 | +19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,177 | €838 | -€6,339 | -88.3% |
| Other operating charges | 640/8 | €896 | €17,434 | +€16,538 | +1846.1% |
| Gross operating margin | 9900 | €329,799 | €412,263 | +€82,464 | +25.0% |
| Operating profit (loss) | 9901 | €321,727 | €393,992 | +€72,266 | +22.5% |
| Financial income | 75/76B | €2,803 | €3,127 | +€324 | +11.6% |
| Recurring financial income | 75 | €2,803 | €3,127 | +€324 | +11.6% |
| Financial charges | 65/66B | €1,602 | €1,712 | +€110 | +6.9% |
| Recurring financial charges | 65 | €1,602 | €1,712 | +€110 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €322,928 | €395,407 | +€72,479 | +22.4% |
| Income taxes | 67/77 | €77,294 | €94,657 | +€17,363 | +22.5% |
| Profit (loss) for the period | 9904 | €245,634 | €300,749 | +€55,116 | +22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €245,634 | €300,749 | +€55,116 | +22.4% |
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 29 September 2026 via checked.be.