LIST'N: 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.
LIST'N
Largest movements
- Cash +€128,113
up €128,113 (+178.3%), from €71,833 to €199,946
mainly Net result for the year (+€85,280) and Tax, wage and social debts (+€23,101)
- Receivables within one year -€12,633
down €12,633 (-58.5%), from €21,590 to €8,957
of which Trade receivables: -€12,599
- Tangible fixed assets -€3,572
down €3,572 (-15.2%), from €23,455 to €19,883
of which Furniture and vehicles: -€8,202
- Reserves +€85,280
up €85,280 (+120.9%), from €70,511 to €155,790
- Tax, wage and social debts +€23,101
up €23,101 (+66.4%), from €34,812 to €57,913
- Other debts +€3,500
up €3,500 (+48.6%), from €7,205 to €10,706
- Gross operating margin +€24,325
up €24,325 (+25.0%), from €97,477 to €121,802
- Taxes +€4,502
up €4,502 (+23.4%), from €19,204 to €23,706
- Depreciation +€4,012
up €4,012 (+53.2%), from €7,539 to €11,551
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 | €116,878 | €228,785 | +€111,907 | +95.7% |
| Fixed assets | 21/28 | €23,455 | €19,883 | -€3,572 | -15.2% |
| Tangible fixed assets | 22/27 | €23,455 | €19,883 | -€3,572 | -15.2% |
| Furniture and vehicles | 24 | €23,455 | €15,253 | -€8,202 | -35.0% |
| Other tangible fixed assets | 26 | - | €4,630 | +€4,630 | |
| Current assets | 29/58 | €93,423 | €208,902 | +€115,479 | +123.6% |
| Amounts receivable within one year | 40/41 | €21,590 | €8,957 | -€12,633 | -58.5% |
| Trade receivables | 40 | €21,556 | €8,957 | -€12,599 | -58.4% |
| Other amounts receivable | 41 | €34 | - | -€34 | |
| Cash at bank and in hand | 54/58 | €71,833 | €199,946 | +€128,113 | +178.3% |
| Total equity and liabilities | 10/49 | €116,878 | €228,785 | +€111,907 | +95.7% |
| Equity | 10/15 | €74,511 | €159,790 | +€85,280 | +114.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €70,511 | €155,790 | +€85,280 | +120.9% |
| Distributable reserves | 133 | €70,511 | €155,790 | +€85,280 | +120.9% |
| Amounts payable | 17/49 | €42,367 | €68,995 | +€26,628 | +62.9% |
| Amounts payable within one year | 42/48 | €42,367 | €68,995 | +€26,628 | +62.9% |
| Current portion of amounts payable after more than one year | 42 | €220 | - | -€220 | |
| Trade debts | 44 | €130 | €376 | +€247 | +190.7% |
| Suppliers | 440/4 | €130 | €376 | +€247 | +190.7% |
| Taxes, remuneration and social security | 45 | €34,812 | €57,913 | +€23,101 | +66.4% |
| Taxes | 450/3 | €34,812 | €57,913 | +€23,101 | +66.4% |
| Other amounts payable | 47/48 | €7,205 | €10,706 | +€3,500 | +48.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,539 | €11,551 | +€4,012 | +53.2% |
| Other operating charges | 640/8 | €106 | €741 | +€636 | +602.5% |
| Gross operating margin | 9900 | €97,477 | €121,802 | +€24,325 | +25.0% |
| Operating profit (loss) | 9901 | €89,832 | €109,510 | +€19,677 | +21.9% |
| Financial charges | 65/66B | €117 | €524 | +€406 | +346.3% |
| Recurring financial charges | 65 | €117 | €524 | +€406 | +346.3% |
| Profit (loss) for the period before taxes | 9903 | €89,715 | €108,986 | +€19,271 | +21.5% |
| Income taxes | 67/77 | €19,204 | €23,706 | +€4,502 | +23.4% |
| Profit (loss) for the period | 9904 | €70,511 | €85,280 | +€14,769 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €70,511 | €85,280 | +€14,769 | +20.9% |
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 7 October 2026 via checked.be.