M.: what changed
M.
Largest movements
- Cash +€31,929
up €31,929 (+150%), from €21,280 to €53,208
mainly Net result for the year (+€67,292) and Other debts (+€22,745)
- Receivables within one year -€6,214
down €6,214 (-17.0%), from €36,638 to €30,424
of which Trade receivables: -€12,483
- Tangible fixed assets +€1,110
up €1,110 (+23.8%), from €4,670 to €5,780
of which Furniture and vehicles: +€1,295
- Other debts +€22,745
up €22,745 (+70.1%), from €32,434 to €55,179
- Tax, wage and social debts +€3,527
up €3,527 (+30.0%), from €11,763 to €15,290
- Gross operating margin +€20,994
up €20,994 (+28.4%), from €73,936 to €94,930
- Other operating charges -€9,193
down €9,193 (-64.2%), from €14,314 to €5,121
- Taxes +€2,555
up €2,555 (+16.6%), from €15,378 to €17,932
- Depreciation -€1,136
down €1,136 (-30.0%), from €3,791 to €2,655
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €63,908 | €90,581 | +€26,673 | +41.7% |
| Fixed assets | 21/28 | €4,711 | €5,821 | +€1,110 | +23.6% |
| Tangible fixed assets | 22/27 | €4,670 | €5,780 | +€1,110 | +23.8% |
| Plant, machinery and equipment | 23 | €1,680 | €1,495 | -€185 | -11.0% |
| Furniture and vehicles | 24 | €2,990 | €4,285 | +€1,295 | +43.3% |
| Financial fixed assets | 28 | €41 | €41 | = | 0.0% |
| Current assets | 29/58 | €59,197 | €84,759 | +€25,563 | +43.2% |
| Amounts receivable within one year | 40/41 | €36,638 | €30,424 | -€6,214 | -17.0% |
| Trade receivables | 40 | €35,138 | €22,654 | -€12,483 | -35.5% |
| Other amounts receivable | 41 | €1,500 | €7,770 | +€6,270 | +418% |
| Cash at bank and in hand | 54/58 | €21,280 | €53,208 | +€31,929 | +150% |
| Deferred charges and accrued income | 490/1 | €1,279 | €1,128 | -€152 | -11.9% |
| Total equity and liabilities | 10/49 | €63,908 | €90,581 | +€26,673 | +41.7% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €45,308 | €71,981 | +€26,673 | +58.9% |
| Amounts payable within one year | 42/48 | €45,308 | €71,981 | +€26,673 | +58.9% |
| Trade debts | 44 | €1,111 | €1,511 | +€401 | +36.1% |
| Suppliers | 440/4 | €1,111 | €1,511 | +€401 | +36.1% |
| Taxes, remuneration and social security | 45 | €11,763 | €15,290 | +€3,527 | +30.0% |
| Taxes | 450/3 | €11,763 | €15,290 | +€3,527 | +30.0% |
| Other amounts payable | 47/48 | €32,434 | €55,179 | +€22,745 | +70.1% |
| Remuneration, social security and pensions | 62 | €1,674 | €1,683 | +€9 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,791 | €2,655 | -€1,136 | -30.0% |
| Other operating charges | 640/8 | €14,314 | €5,121 | -€9,193 | -64.2% |
| Gross operating margin | 9900 | €73,936 | €94,930 | +€20,994 | +28.4% |
| Operating profit (loss) | 9901 | €54,157 | €85,471 | +€31,315 | +57.8% |
| Financial charges | 65/66B | €144 | €247 | +€104 | +72.2% |
| Recurring financial charges | 65 | €144 | €247 | +€104 | +72.2% |
| Profit (loss) for the period before taxes | 9903 | €54,013 | €85,224 | +€31,211 | +57.8% |
| Income taxes | 67/77 | €15,378 | €17,932 | +€2,555 | +16.6% |
| Profit (loss) for the period | 9904 | €38,636 | €67,292 | +€28,656 | +74.2% |
| Profit (loss) for the period to be appropriated | 9905 | €38,636 | €67,292 | +€28,656 | +74.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.