LEVERAGED: 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.
LEVERAGED
Largest movements
- Receivables within one year -€7,934
down €7,934 (-40.2%), from €19,718 to €11,785
of which Other amounts receivable: -€5,954
- Tangible fixed assets -€3,033
down €3,033 (-6.6%), from €45,625 to €42,592
of which Plant, machinery and equipment: -€2,785
- Cash +€1,332
up €1,332 (+47.4%), from €2,812 to €4,144
mainly Net result for the year (+€10,833) and Depreciation (+€8,155)
- Tax, wage and social debts -€27,176
down €27,176 (-75.6%), from €35,923 to €8,748
of which Taxes: -€27,176
- Trade debts +€7,976
up €7,976 (+97.4%), from €8,188 to €16,164
- Profit (loss) carried forward +€7,505
up €7,505, from -€5,459 to €2,046
- Reserves +€3,328
up €3,328 (+18.0%), from €18,532 to €21,860
- Debts after one year -€3,256
down €3,256 (-92.2%), from €3,531 to €275
- Gross operating margin +€20,838
up €20,838 (+302.1%), from €6,898 to €27,736
- Taxes +€3,222
up €3,222, from €0 to €3,222
- Financial charges +€1,149
up €1,149 (+42.4%), from €2,707 to €3,856
- Other operating charges -€987
down €987 (-37.1%), from €2,661 to €1,675
- Depreciation +€952
up €952 (+13.2%), from €7,203 to €8,155
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 | €70,667 | €61,277 | -€9,390 | -13.3% |
| Fixed assets | 21/28 | €45,625 | €42,592 | -€3,033 | -6.6% |
| Tangible fixed assets | 22/27 | €45,625 | €42,592 | -€3,033 | -6.6% |
| Plant, machinery and equipment | 23 | €45,011 | €42,226 | -€2,785 | -6.2% |
| Furniture and vehicles | 24 | €614 | €367 | -€248 | -40.3% |
| Current assets | 29/58 | €25,042 | €18,685 | -€6,357 | -25.4% |
| Amounts receivable within one year | 40/41 | €19,718 | €11,785 | -€7,934 | -40.2% |
| Trade receivables | 40 | €13,765 | €11,785 | -€1,980 | -14.4% |
| Other amounts receivable | 41 | €5,954 | €0 | -€5,954 | -100.0% |
| Cash at bank and in hand | 54/58 | €2,812 | €4,144 | +€1,332 | +47.4% |
| Deferred charges and accrued income | 490/1 | €2,511 | €2,756 | +€244 | +9.7% |
| Total equity and liabilities | 10/49 | €70,667 | €61,277 | -€9,390 | -13.3% |
| Equity | 10/15 | €19,274 | €30,106 | +€10,833 | +56.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €18,532 | €21,860 | +€3,328 | +18.0% |
| Distributable reserves | 133 | €18,532 | €21,860 | +€3,328 | +18.0% |
| Profit (loss) carried forward | 14 | -€5,459 | €2,046 | +€7,505 | |
| Amounts payable | 17/49 | €51,393 | €31,171 | -€20,223 | -39.3% |
| Amounts payable after more than one year | 17 | €3,531 | €275 | -€3,256 | -92.2% |
| Financial debts | 170/4 | €3,531 | €275 | -€3,256 | -92.2% |
| Amounts payable within one year | 42/48 | €47,862 | €30,896 | -€16,967 | -35.4% |
| Current portion of amounts payable after more than one year | 42 | €3,195 | €3,256 | +€61 | +1.9% |
| Financial debts | 43 | €556 | €583 | +€27 | +4.8% |
| Credit institutions | 430/8 | €556 | €583 | +€27 | +4.8% |
| Trade debts | 44 | €8,188 | €16,164 | +€7,976 | +97.4% |
| Suppliers | 440/4 | €8,188 | €16,164 | +€7,976 | +97.4% |
| Taxes, remuneration and social security | 45 | €35,923 | €8,748 | -€27,176 | -75.6% |
| Taxes | 450/3 | €35,923 | €8,748 | -€27,176 | -75.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €2,146 | +€2,146 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,203 | €8,155 | +€952 | +13.2% |
| Other operating charges | 640/8 | €2,661 | €1,675 | -€987 | -37.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €6,898 | €27,736 | +€20,838 | +302.1% |
| Operating profit (loss) | 9901 | -€2,966 | €17,906 | +€20,872 | |
| Financial income | 75/76B | €215 | €5 | -€210 | -97.6% |
| Recurring financial income | 75 | €215 | €5 | -€210 | -97.6% |
| Financial charges | 65/66B | €2,707 | €3,856 | +€1,149 | +42.4% |
| Recurring financial charges | 65 | €2,707 | €3,856 | +€1,149 | +42.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,459 | €14,055 | +€19,514 | |
| Income taxes | 67/77 | €0 | €3,222 | +€3,222 | |
| Profit (loss) for the period | 9904 | -€5,459 | €10,833 | +€16,291 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,459 | €10,833 | +€16,291 |
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 9 October 2026 via checked.be.