LISTEN: 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.
LISTEN
Largest movements
- Cash +€104,705
up €104,705 (+1690.6%), from €6,193 to €110,898
mainly Net result for the year (+€98,377) and Tax, wage and social debts (+€51,719)
- Tangible fixed assets +€44,555
up €44,555 (+29.0%), from €153,423 to €197,979
of which Other tangible fixed assets: +€38,737
- Receivables within one year +€12,233
up €12,233 (+27.9%), from €43,820 to €56,053
- Profit (loss) carried forward +€98,377
up €98,377 (+114.8%), from €85,680 to €184,057
- Tax, wage and social debts +€51,719
up €51,719 (+600.0%), from €8,620 to €60,338
- Current portion of long-term debt +€10,153
up €10,153 (+367.1%), from €2,766 to €12,918
- Debts after one year +€5,828
up €5,828 (+5.5%), from €106,598 to €112,426
- Trade debts -€4,561
down €4,561 (-9.7%), from €46,842 to €42,281
- Gross operating margin +€137,019
up €137,019 (+547.4%), from €25,029 to €162,047
- Taxes +€26,933
up €26,933 (+1248.0%), from €2,158 to €29,091
- Depreciation +€12,056
up €12,056 (+71.2%), from €16,939 to €28,995
- Financial charges +€1,663
up €1,663 (+69.9%), from €2,378 to €4,041
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 | €253,028 | €414,522 | +€161,493 | +63.8% |
| Fixed assets | 21/28 | €153,423 | €197,979 | +€44,555 | +29.0% |
| Tangible fixed assets | 22/27 | €153,423 | €197,979 | +€44,555 | +29.0% |
| Plant, machinery and equipment | 23 | €5,480 | €13,157 | +€7,677 | +140.1% |
| Furniture and vehicles | 24 | €6,570 | €4,711 | -€1,859 | -28.3% |
| Other tangible fixed assets | 26 | €141,374 | €180,110 | +€38,737 | +27.4% |
| Current assets | 29/58 | €99,605 | €216,543 | +€116,938 | +117.4% |
| Amounts receivable after more than one year | 29 | €49,591 | €49,591 | = | 0.0% |
| Other amounts receivable | 291 | €49,591 | €49,591 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €43,820 | €56,053 | +€12,233 | +27.9% |
| Trade receivables | 40 | €43,820 | €56,053 | +€12,233 | +27.9% |
| Cash at bank and in hand | 54/58 | €6,193 | €110,898 | +€104,705 | +1690.6% |
| Total equity and liabilities | 10/49 | €253,028 | €414,522 | +€161,493 | +63.8% |
| Equity | 10/15 | €88,180 | €186,557 | +€98,377 | +111.6% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,680 | €184,057 | +€98,377 | +114.8% |
| Amounts payable | 17/49 | €164,848 | €227,964 | +€63,116 | +38.3% |
| Amounts payable after more than one year | 17 | €106,598 | €112,426 | +€5,828 | +5.5% |
| Financial debts | 170/4 | €106,598 | €112,426 | +€5,828 | +5.5% |
| Amounts payable within one year | 42/48 | €58,250 | €115,538 | +€57,288 | +98.3% |
| Current portion of amounts payable after more than one year | 42 | €2,766 | €12,918 | +€10,153 | +367.1% |
| Trade debts | 44 | €46,842 | €42,281 | -€4,561 | -9.7% |
| Suppliers | 440/4 | €46,842 | €42,281 | -€4,561 | -9.7% |
| Taxes, remuneration and social security | 45 | €8,620 | €60,338 | +€51,719 | +600.0% |
| Taxes | 450/3 | €8,620 | €60,338 | +€51,719 | +600.0% |
| Other amounts payable | 47/48 | €23 | - | -€23 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,939 | €28,995 | +€12,056 | +71.2% |
| Other operating charges | 640/8 | €1,998 | €1,543 | -€455 | -22.8% |
| Gross operating margin | 9900 | €25,029 | €162,047 | +€137,019 | +547.4% |
| Operating profit (loss) | 9901 | €6,092 | €131,509 | +€125,418 | +2058.9% |
| Financial income | 75/76B | €264 | - | -€264 | |
| Recurring financial income | 75 | €264 | - | -€264 | |
| Non-recurring financial income | 76B | €264 | - | -€264 | |
| Financial charges | 65/66B | €2,378 | €4,041 | +€1,663 | +69.9% |
| Recurring financial charges | 65 | €2,378 | €4,041 | +€1,663 | +69.9% |
| Profit (loss) for the period before taxes | 9903 | €3,977 | €127,468 | +€123,491 | +3105.3% |
| Income taxes | 67/77 | €2,158 | €29,091 | +€26,933 | +1248.0% |
| Profit (loss) for the period | 9904 | €1,819 | €98,377 | +€96,559 | +5309.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,819 | €98,377 | +€96,559 | +5309.1% |
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 4 October 2026 via checked.be.