Made connect: 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.
Made connect
Largest movements
- Current investments +€127,107
new in 2025: €127,107
- Cash -€4,793
down €4,793 (-3.7%), from €131,057 to €126,264
mainly Current investments (-€127,107) and Investment in fixed assets (net) (-€3,500)
- Tangible fixed assets +€2,981
up €2,981 (+481.8%), from €619 to €3,600
of which Plant, machinery and equipment: +€3,284
- Profit (loss) carried forward +€98,513
up €98,513 (+109.0%), from €90,344 to €188,857
- Tax, wage and social debts +€27,164
up €27,164 (+81.4%), from €33,359 to €60,523
- Gross operating margin +€13,135
up €13,135 (+11.1%), from €117,904 to €131,039
- Taxes +€3,582
up €3,582 (+14.7%), from €24,365 to €27,946
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 | €133,595 | €260,578 | +€126,983 | +95.1% |
| Fixed assets | 21/28 | €619 | €3,600 | +€2,981 | +481.8% |
| Tangible fixed assets | 22/27 | €619 | €3,600 | +€2,981 | +481.8% |
| Plant, machinery and equipment | 23 | - | €3,284 | +€3,284 | |
| Furniture and vehicles | 24 | €619 | €316 | -€303 | -48.9% |
| Current assets | 29/58 | €132,976 | €256,978 | +€124,002 | +93.3% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Current investments | 50/53 | - | €127,107 | +€127,107 | |
| Cash at bank and in hand | 54/58 | €131,057 | €126,264 | -€4,793 | -3.7% |
| Deferred charges and accrued income | 490/1 | €1,919 | €3,607 | +€1,688 | +88.0% |
| Total equity and liabilities | 10/49 | €133,595 | €260,578 | +€126,983 | +95.1% |
| Equity | 10/15 | €93,344 | €191,857 | +€98,513 | +105.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,344 | €188,857 | +€98,513 | +109.0% |
| Amounts payable | 17/49 | €40,251 | €68,721 | +€28,470 | +70.7% |
| Amounts payable within one year | 42/48 | €40,078 | €68,258 | +€28,180 | +70.3% |
| Trade debts | 44 | €2,398 | €1,861 | -€537 | -22.4% |
| Suppliers | 440/4 | €2,398 | €1,861 | -€537 | -22.4% |
| Taxes, remuneration and social security | 45 | €33,359 | €60,523 | +€27,164 | +81.4% |
| Taxes | 450/3 | €33,359 | €60,523 | +€27,164 | +81.4% |
| Other amounts payable | 47/48 | €4,320 | €5,873 | +€1,553 | +35.9% |
| Accrued charges and deferred income | 492/3 | €173 | €464 | +€290 | +167.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €289 | €519 | +€229 | +79.2% |
| Other operating charges | 640/8 | €835 | €802 | -€33 | -3.9% |
| Gross operating margin | 9900 | €117,904 | €131,039 | +€13,135 | +11.1% |
| Operating profit (loss) | 9901 | €116,780 | €129,718 | +€12,938 | +11.1% |
| Financial income | 75/76B | - | €496 | +€496 | |
| Recurring financial income | 75 | - | €496 | +€496 | |
| Financial charges | 65/66B | €3,260 | €3,754 | +€494 | +15.2% |
| Recurring financial charges | 65 | €3,260 | €3,754 | +€494 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | €113,520 | €126,460 | +€12,940 | +11.4% |
| Income taxes | 67/77 | €24,365 | €27,946 | +€3,582 | +14.7% |
| Profit (loss) for the period | 9904 | €89,155 | €98,513 | +€9,358 | +10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €89,155 | €98,513 | +€9,358 | +10.5% |
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 6 October 2026 via checked.be.