Level X: 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 X
Largest movements
- Cash +€47,389
up €47,389 (+221.1%), from €21,436 to €68,824
mainly Net result for the year (+€50,782) and Other debts (+€23,195)
- Receivables within one year -€21,830
down €21,830 (-53.2%), from €41,066 to €19,236
of which Trade receivables: -€14,427
- Tangible fixed assets +€4,622
up €4,622 (+29.6%), from €15,624 to €20,246
of which Land and buildings: +€5,558
- Deferred charges and accrued income +€3,897
new in 2025: €3,897
- Other debts +€23,195
up €23,195 (+173.5%), from €13,368 to €36,563
- Tax, wage and social debts +€7,864
up €7,864 (+65.8%), from €11,952 to €19,816
- Trade debts +€1,184
up €1,184 (+12815.0%), from €9 to €1,193
- Gross operating margin +€24,349
up €24,349 (+52.0%), from €46,809 to €71,158
- Taxes +€9,351
up €9,351 (+221.2%), from €4,227 to €13,579
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 | €78,126 | €112,203 | +€34,077 | +43.6% |
| Fixed assets | 21/28 | €15,624 | €20,246 | +€4,622 | +29.6% |
| Tangible fixed assets | 22/27 | €15,624 | €20,246 | +€4,622 | +29.6% |
| Land and buildings | 22 | €10,839 | €16,398 | +€5,558 | +51.3% |
| Furniture and vehicles | 24 | €4,785 | €3,848 | -€936 | -19.6% |
| Current assets | 29/58 | €62,502 | €91,957 | +€29,455 | +47.1% |
| Amounts receivable within one year | 40/41 | €41,066 | €19,236 | -€21,830 | -53.2% |
| Trade receivables | 40 | €31,469 | €17,042 | -€14,427 | -45.8% |
| Other amounts receivable | 41 | €9,597 | €2,194 | -€7,403 | -77.1% |
| Cash at bank and in hand | 54/58 | €21,436 | €68,824 | +€47,389 | +221.1% |
| Deferred charges and accrued income | 490/1 | - | €3,897 | +€3,897 | |
| Total equity and liabilities | 10/49 | €78,126 | €112,203 | +€34,077 | +43.6% |
| Equity | 10/15 | €52,796 | €53,578 | +€782 | +1.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €49,796 | €49,796 | = | 0.0% |
| Distributable reserves | 133 | €49,796 | €49,796 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €782 | +€782 | |
| Amounts payable | 17/49 | €25,330 | €58,626 | +€33,296 | +131.4% |
| Amounts payable within one year | 42/48 | €25,330 | €57,572 | +€32,242 | +127.3% |
| Trade debts | 44 | €9 | €1,193 | +€1,184 | +12815.0% |
| Suppliers | 440/4 | €9 | €1,193 | +€1,184 | +12815.0% |
| Taxes, remuneration and social security | 45 | €11,952 | €19,816 | +€7,864 | +65.8% |
| Taxes | 450/3 | €11,952 | €19,816 | +€7,864 | +65.8% |
| Other amounts payable | 47/48 | €13,368 | €36,563 | +€23,195 | +173.5% |
| Accrued charges and deferred income | 492/3 | - | €1,053 | +€1,053 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,239 | €3,351 | +€112 | +3.4% |
| Non-recurring operating charges | 66A | - | €2,320 | +€2,320 | |
| Gross operating margin | 9900 | €46,809 | €71,158 | +€24,349 | +52.0% |
| Operating profit (loss) | 9901 | €43,570 | €65,487 | +€21,917 | +50.3% |
| Financial income | 75/76B | €237 | €0 | -€237 | -100.0% |
| Recurring financial income | 75 | €237 | €0 | -€237 | -100.0% |
| Financial charges | 65/66B | €1,415 | €1,127 | -€288 | -20.3% |
| Recurring financial charges | 65 | €1,415 | €1,127 | -€288 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €42,393 | €64,360 | +€21,967 | +51.8% |
| Income taxes | 67/77 | €4,227 | €13,579 | +€9,351 | +221.2% |
| Profit (loss) for the period | 9904 | €38,165 | €50,782 | +€12,616 | +33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €38,165 | €50,782 | +€12,616 | +33.1% |
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 5 October 2026 via checked.be.