Make IT: 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.
Make IT
Largest movements
- Current investments +€46,000
new in 2025: €46,000
- Cash -€25,782
down €25,782 (-23.6%), from €109,419 to €83,637
mainly Current investments (-€46,000) and Contributions, distributions and other (-€29,218)
- Intangible fixed assets -€7,000
down €7,000 (-37.9%), from €18,468 to €11,468
- Tangible fixed assets -€5,070
down €5,070 (-14.8%), from €34,274 to €29,203
of which Plant, machinery and equipment: -€3,672
- Receivables within one year +€4,750
up €4,750 (+33.2%), from €14,303 to €19,053
of which Trade receivables: +€4,750
- Reserves +€15,445
up €15,445 (+10.2%), from €151,500 to €166,945
- Debts after one year -€9,285
down €9,285 (-59.5%), from €15,598 to €6,314
- Other debts +€3,836
up €3,836 (+73.3%), from €5,233 to €9,068
- Tax, wage and social debts -€2,270
down €2,270 (-28.5%), from €7,962 to €5,692
- Gross operating margin +€15,491
up €15,491 (+21.6%), from €71,788 to €87,279
- Taxes +€5,428
up €5,428 (+42.9%), from €12,653 to €18,081
- Depreciation -€3,261
down €3,261 (-13.2%), from €24,736 to €21,475
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 | €199,572 | €207,918 | +€8,346 | +4.2% |
| Fixed assets | 21/28 | €52,742 | €40,672 | -€12,070 | -22.9% |
| Intangible fixed assets | 21 | €18,468 | €11,468 | -€7,000 | -37.9% |
| Tangible fixed assets | 22/27 | €34,274 | €29,203 | -€5,070 | -14.8% |
| Plant, machinery and equipment | 23 | €7,831 | €4,158 | -€3,672 | -46.9% |
| Furniture and vehicles | 24 | €21,385 | €23,213 | +€1,828 | +8.5% |
| Other tangible fixed assets | 26 | €5,058 | €1,833 | -€3,226 | -63.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €146,830 | €167,246 | +€20,416 | +13.9% |
| Stocks and contracts in progress | 3 | €9,460 | €9,126 | -€334 | -3.5% |
| Stocks | 30/36 | €9,460 | €9,126 | -€334 | -3.5% |
| Amounts receivable within one year | 40/41 | €14,303 | €19,053 | +€4,750 | +33.2% |
| Trade receivables | 40 | €14,303 | €19,053 | +€4,750 | +33.2% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | - | €46,000 | +€46,000 | |
| Cash at bank and in hand | 54/58 | €109,419 | €83,637 | -€25,782 | -23.6% |
| Deferred charges and accrued income | 490/1 | €13,647 | €9,430 | -€4,217 | -30.9% |
| Total equity and liabilities | 10/49 | €199,572 | €207,918 | +€8,346 | +4.2% |
| Equity | 10/15 | €157,700 | €173,145 | +€15,445 | +9.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €151,500 | €166,945 | +€15,445 | +10.2% |
| Distributable reserves | 133 | €151,500 | €166,945 | +€15,445 | +10.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €41,872 | €34,772 | -€7,099 | -17.0% |
| Amounts payable after more than one year | 17 | €15,598 | €6,314 | -€9,285 | -59.5% |
| Financial debts | 170/4 | €15,598 | €6,314 | -€9,285 | -59.5% |
| Amounts payable within one year | 42/48 | €26,182 | €27,787 | +€1,605 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €9,066 | €9,285 | +€218 | +2.4% |
| Trade debts | 44 | €3,921 | €3,742 | -€179 | -4.6% |
| Suppliers | 440/4 | €3,921 | €3,742 | -€179 | -4.6% |
| Taxes, remuneration and social security | 45 | €7,962 | €5,692 | -€2,270 | -28.5% |
| Taxes | 450/3 | €7,962 | €5,692 | -€2,270 | -28.5% |
| Other amounts payable | 47/48 | €5,233 | €9,068 | +€3,836 | +73.3% |
| Accrued charges and deferred income | 492/3 | €91 | €672 | +€580 | +634.9% |
| Remuneration, social security and pensions | 62 | €5 | €0 | -€5 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,736 | €21,475 | -€3,261 | -13.2% |
| Other operating charges | 640/8 | €1,484 | €1,495 | +€11 | +0.7% |
| Non-recurring operating charges | 66A | €3,172 | €152 | -€3,021 | -95.2% |
| Gross operating margin | 9900 | €71,788 | €87,279 | +€15,491 | +21.6% |
| Operating profit (loss) | 9901 | €42,391 | €64,157 | +€21,766 | +51.3% |
| Financial charges | 65/66B | €1,249 | €1,413 | +€165 | +13.2% |
| Recurring financial charges | 65 | €1,249 | €1,413 | +€165 | +13.2% |
| Profit (loss) for the period before taxes | 9903 | €41,142 | €62,743 | +€21,602 | +52.5% |
| Income taxes | 67/77 | €12,653 | €18,081 | +€5,428 | +42.9% |
| Profit (loss) for the period | 9904 | €28,489 | €44,663 | +€16,174 | +56.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,489 | €44,663 | +€16,174 | +56.8% |
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 8 October 2026 via checked.be.