Mains: 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.
Mains
Largest movements
- Tangible fixed assets +€590,224
up €590,224 (+131.6%), from €448,431 to €1.0m
of which Other tangible fixed assets: +€538,730
- Cash +€136,591
up €136,591 (+142.5%), from €95,834 to €232,426
mainly Debts after one year (+€545,397) and Tax, wage and social debts (+€153,848)
- Debts after one year +€545,397
up €545,397 (+127.8%), from €426,640 to €972,037
of which Financial debts: +€545,397
- Tax, wage and social debts +€153,848
up €153,848 (+111.6%), from €137,903 to €291,750
of which Remuneration and social security: +€93,873
- Trade debts +€63,088
up €63,088 (+90.0%), from €70,100 to €133,188
- Profit (loss) carried forward -€14,721
down €14,721 (-21.6%), from -€68,298 to -€83,019
- Gross operating margin +€734,403
up €734,403 (+91.7%), from €801,164 to €1.5m
- Staff costs +€634,178
up €634,178 (+84.6%), from €749,839 to €1.4m
- Depreciation +€94,276
up €94,276 (+288.1%), from €32,720 to €126,997
- Other operating charges +€16,764
up €16,764 (+3466.0%), from €484 to €17,248
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 | €613,558 | €1,359,293 | +€745,735 | +121.5% |
| Fixed assets | 21/28 | €448,864 | €1,039,088 | +€590,224 | +131.5% |
| Tangible fixed assets | 22/27 | €448,431 | €1,038,655 | +€590,224 | +131.6% |
| Plant, machinery and equipment | 23 | €238,285 | €271,240 | +€32,955 | +13.8% |
| Furniture and vehicles | 24 | €72,620 | €98,806 | +€26,187 | +36.1% |
| Leasing and similar rights | 25 | €21,225 | €13,577 | -€7,648 | -36.0% |
| Other tangible fixed assets | 26 | €116,301 | €655,031 | +€538,730 | +463.2% |
| Financial fixed assets | 28 | €433 | €433 | = | 0.0% |
| Current assets | 29/58 | €164,695 | €320,205 | +€155,510 | +94.4% |
| Stocks and contracts in progress | 3 | €5,000 | €6,532 | +€1,532 | +30.6% |
| Stocks | 30/36 | €5,000 | €6,532 | +€1,532 | +30.6% |
| Amounts receivable within one year | 40/41 | €63,860 | €70,143 | +€6,283 | +9.8% |
| Trade receivables | 40 | €45,823 | €66,977 | +€21,155 | +46.2% |
| Other amounts receivable | 41 | €18,038 | €3,166 | -€14,872 | -82.4% |
| Cash at bank and in hand | 54/58 | €95,834 | €232,426 | +€136,591 | +142.5% |
| Deferred charges and accrued income | 490/1 | - | €11,104 | +€11,104 | |
| Total equity and liabilities | 10/49 | €613,558 | €1,359,293 | +€745,735 | +121.5% |
| Equity | 10/15 | -€36,142 | -€52,854 | -€16,712 | -46.2% |
| Contributions | 10/11 | €10,090 | €10,090 | = | 0.0% |
| Capital | 10 | €10,090 | €10,090 | = | 0.0% |
| Issued capital | 100 | €10,090 | €10,090 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,298 | -€83,019 | -€14,721 | -21.6% |
| Investment grants | 15 | €22,066 | €20,075 | -€1,991 | -9.0% |
| Amounts payable | 17/49 | €649,701 | €1,412,147 | +€762,446 | +117.4% |
| Amounts payable after more than one year | 17 | €426,640 | €972,037 | +€545,397 | +127.8% |
| Financial debts | 170/4 | €426,640 | €972,037 | +€545,397 | +127.8% |
| Advances received on contracts in progress | 176 | €0 | - | -€0 | |
| Amounts payable within one year | 42/48 | €223,061 | €440,110 | +€217,049 | +97.3% |
| Current portion of amounts payable after more than one year | 42 | €15,058 | €15,172 | +€114 | +0.8% |
| Trade debts | 44 | €70,100 | €133,188 | +€63,088 | +90.0% |
| Suppliers | 440/4 | €70,100 | €133,188 | +€63,088 | +90.0% |
| Taxes, remuneration and social security | 45 | €137,903 | €291,750 | +€153,848 | +111.6% |
| Taxes | 450/3 | €12,909 | €72,884 | +€59,975 | +464.6% |
| Remuneration and social security | 454/9 | €124,993 | €218,866 | +€93,873 | +75.1% |
| Remuneration, social security and pensions | 62 | €749,839 | €1,384,018 | +€634,178 | +84.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,720 | €126,997 | +€94,276 | +288.1% |
| Other operating charges | 640/8 | €484 | €17,248 | +€16,764 | +3466.0% |
| Gross operating margin | 9900 | €801,164 | €1,535,567 | +€734,403 | +91.7% |
| Operating profit (loss) | 9901 | €18,121 | €7,306 | -€10,815 | -59.7% |
| Financial income | 75/76B | €333 | €2,133 | +€1,800 | +541.3% |
| Recurring financial income | 75 | €333 | €2,133 | +€1,800 | +541.3% |
| Financial charges | 65/66B | €10,559 | €24,148 | +€13,590 | +128.7% |
| Recurring financial charges | 65 | €10,559 | €23,536 | +€12,977 | +122.9% |
| Non-recurring financial charges | 66B | - | €613 | +€613 | |
| Profit (loss) for the period before taxes | 9903 | €7,895 | -€14,710 | -€22,605 | |
| Profit (loss) for the period | 9904 | €7,895 | -€14,710 | -€22,605 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,895 | -€14,710 | -€22,605 |
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.