LEVELHEADED: 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.
LEVELHEADED
Largest movements
- Cash +€66,954
up €66,954 (+45.2%), from €148,089 to €215,043
mainly Net result for the year (+€75,478) and Receivables within one year (+€2,098)
- Reserves +€75,478
up €75,478 (+65.4%), from €115,330 to €190,808
- Tax, wage and social debts -€11,157
down €11,157 (-27.7%), from €40,224 to €29,067
- Gross operating margin +€39,738
up €39,738 (+67.8%), from €58,607 to €98,345
- Taxes +€7,959
up €7,959 (+66.9%), from €11,890 to €19,849
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 | €171,755 | €235,609 | +€63,854 | +37.2% |
| Fixed assets | 21/28 | €1,962 | €2,950 | +€988 | +50.4% |
| Tangible fixed assets | 22/27 | €1,962 | €2,950 | +€988 | +50.4% |
| Furniture and vehicles | 24 | €1,962 | €2,950 | +€988 | +50.4% |
| Current assets | 29/58 | €169,793 | €232,659 | +€62,866 | +37.0% |
| Amounts receivable within one year | 40/41 | €14,514 | €12,416 | -€2,098 | -14.5% |
| Trade receivables | 40 | €14,514 | €12,416 | -€2,098 | -14.5% |
| Cash at bank and in hand | 54/58 | €148,089 | €215,043 | +€66,954 | +45.2% |
| Deferred charges and accrued income | 490/1 | €7,190 | €5,200 | -€1,990 | -27.7% |
| Total equity and liabilities | 10/49 | €171,755 | €235,609 | +€63,854 | +37.2% |
| Equity | 10/15 | €125,330 | €200,808 | +€75,478 | +60.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €115,330 | €190,808 | +€75,478 | +65.4% |
| Distributable reserves | 133 | €115,330 | €190,808 | +€75,478 | +65.4% |
| Amounts payable | 17/49 | €46,425 | €34,802 | -€11,623 | -25.0% |
| Amounts payable within one year | 42/48 | €44,265 | €32,802 | -€11,463 | -25.9% |
| Trade debts | 44 | €1,728 | €1,421 | -€307 | -17.8% |
| Suppliers | 440/4 | €1,728 | €1,421 | -€307 | -17.8% |
| Taxes, remuneration and social security | 45 | €40,224 | €29,067 | -€11,157 | -27.7% |
| Taxes | 450/3 | €40,224 | €29,067 | -€11,157 | -27.7% |
| Other amounts payable | 47/48 | €2,313 | €2,313 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,160 | €2,000 | -€160 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €887 | €1,324 | +€437 | +49.2% |
| Other operating charges | 640/8 | €377 | €729 | +€352 | +93.4% |
| Gross operating margin | 9900 | €58,607 | €98,345 | +€39,738 | +67.8% |
| Operating profit (loss) | 9901 | €57,343 | €96,292 | +€38,949 | +67.9% |
| Financial income | 75/76B | €138 | €152 | +€14 | +10.1% |
| Recurring financial income | 75 | €138 | €152 | +€14 | +10.1% |
| Financial charges | 65/66B | €1,418 | €1,117 | -€301 | -21.2% |
| Recurring financial charges | 65 | €1,418 | €1,117 | -€301 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €56,063 | €95,326 | +€39,264 | +70.0% |
| Income taxes | 67/77 | €11,890 | €19,849 | +€7,959 | +66.9% |
| Profit (loss) for the period | 9904 | €44,173 | €75,478 | +€31,305 | +70.9% |
| Profit (loss) for the period to be appropriated | 9905 | €44,173 | €75,478 | +€31,305 | +70.9% |
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 4 October 2026 via checked.be.