MAKE IT HAPPEN: 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 HAPPEN
Largest movements
- Cash -€61,425
down €61,425 (-89.4%), from €68,710 to €7,285
mainly Receivables within one year (-€42,368) and Other debts (-€38,997)
- Receivables within one year +€42,368
up €42,368 (+61.4%), from €68,950 to €111,318
of which Trade receivables: +€45,868
- Intangible fixed assets +€12,937
up €12,937 (+141.4%), from €9,149 to €22,086
- Accrued charges and deferred income +€53,961
new in 2025: €53,961
- Other debts -€38,997
down €38,997 (-100.0%), from €38,997 to €0
- Trade debts -€33,582
down €33,582 (-38.5%), from €87,298 to €53,716
- Reserves +€10,491
up €10,491 (+88.7%), from €11,834 to €22,325
- Tax, wage and social debts +€1,948
up €1,948 (+51.3%), from €3,800 to €5,748
- Gross operating margin -€29,659
down €29,659 (-64.2%), from €46,176 to €16,517
- Depreciation +€3,621
up €3,621 (+5978.7%), from €61 to €3,681
- Taxes -€1,897
down €1,897 (-49.9%), from €3,800 to €1,903
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 | €146,928 | €140,750 | -€6,179 | -4.2% |
| Fixed assets | 21/28 | €9,149 | €22,086 | +€12,937 | +141.4% |
| Intangible fixed assets | 21 | €9,149 | €22,086 | +€12,937 | +141.4% |
| Current assets | 29/58 | €137,780 | €118,664 | -€19,116 | -13.9% |
| Amounts receivable within one year | 40/41 | €68,950 | €111,318 | +€42,368 | +61.4% |
| Trade receivables | 40 | €62,525 | €108,393 | +€45,868 | +73.4% |
| Other amounts receivable | 41 | €6,425 | €2,925 | -€3,499 | -54.5% |
| Cash at bank and in hand | 54/58 | €68,710 | €7,285 | -€61,425 | -89.4% |
| Deferred charges and accrued income | 490/1 | €120 | €61 | -€59 | -49.1% |
| Total equity and liabilities | 10/49 | €146,928 | €140,750 | -€6,179 | -4.2% |
| Equity | 10/15 | €16,834 | €27,325 | +€10,491 | +62.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €11,834 | €22,325 | +€10,491 | +88.7% |
| Distributable reserves | 133 | €11,834 | €22,325 | +€10,491 | +88.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €130,094 | €113,425 | -€16,670 | -12.8% |
| Amounts payable within one year | 42/48 | €130,094 | €59,464 | -€70,631 | -54.3% |
| Trade debts | 44 | €87,298 | €53,716 | -€33,582 | -38.5% |
| Suppliers | 440/4 | €87,298 | €53,716 | -€33,582 | -38.5% |
| Taxes, remuneration and social security | 45 | €3,800 | €5,748 | +€1,948 | +51.3% |
| Taxes | 450/3 | €3,800 | €5,748 | +€1,948 | +51.3% |
| Other amounts payable | 47/48 | €38,997 | €0 | -€38,997 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €53,961 | +€53,961 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61 | €3,681 | +€3,621 | +5978.7% |
| Other operating charges | 640/8 | €366 | €401 | +€36 | +9.8% |
| Gross operating margin | 9900 | €46,176 | €16,517 | -€29,659 | -64.2% |
| Operating profit (loss) | 9901 | €45,750 | €12,435 | -€33,315 | -72.8% |
| Financial income | 75/76B | €0 | €12 | +€12 | +10581.8% |
| Recurring financial income | 75 | €0 | €12 | +€12 | +10581.8% |
| Financial charges | 65/66B | €116 | €52 | -€64 | -54.8% |
| Recurring financial charges | 65 | €116 | €52 | -€64 | -54.8% |
| Profit (loss) for the period before taxes | 9903 | €45,634 | €12,394 | -€33,240 | -72.8% |
| Income taxes | 67/77 | €3,800 | €1,903 | -€1,897 | -49.9% |
| Profit (loss) for the period | 9904 | €41,834 | €10,491 | -€31,343 | -74.9% |
| Profit (loss) for the period to be appropriated | 9905 | €41,834 | €10,491 | -€31,343 | -74.9% |
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.