MAKE SENSE: 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 SENSE
Largest movements
- Cash +€17,745
new in 2025: €17,745
mainly Net result for the year (+€40,051) and Other debts (+€14,862)
- Tangible fixed assets -€8,949
down €8,949 (-35.4%), from €25,281 to €16,332
- Receivables within one year -€3,959
down €3,959 (-22.3%), from €17,735 to €13,776
of which Other amounts receivable: -€4,425
- Financial fixed assets +€1,940
up €1,940 (+11.1%), from €17,482 to €19,422
- Deferred charges and accrued income +€1,247
new in 2025: €1,247
- Other debts +€14,862
new in 2025: €14,862
- Trade debts -€12,200
down €12,200 (-98.4%), from €12,404 to €204
- Profit (loss) carried forward +€10,051
up €10,051 (+116.2%), from €8,647 to €18,698
- Short-term financial debts -€4,318
no longer reported in 2025 (was €4,318)
- Gross operating margin +€7,485
up €7,485 (+13.5%), from €55,541 to €63,026
- Taxes +€2,324
up €2,324 (+22.3%), from €10,441 to €12,765
- Depreciation +€1,200
up €1,200 (+15.5%), from €7,749 to €8,949
- Other operating charges -€1,008
down €1,008 (-49.3%), from €2,044 to €1,036
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 | €60,498 | €68,521 | +€8,023 | +13.3% |
| Fixed assets | 21/28 | €42,763 | €35,754 | -€7,010 | -16.4% |
| Tangible fixed assets | 22/27 | €25,281 | €16,332 | -€8,949 | -35.4% |
| Furniture and vehicles | 24 | €25,281 | €16,332 | -€8,949 | -35.4% |
| Financial fixed assets | 28 | €17,482 | €19,422 | +€1,940 | +11.1% |
| Current assets | 29/58 | €17,735 | €32,767 | +€15,032 | +84.8% |
| Amounts receivable within one year | 40/41 | €17,735 | €13,776 | -€3,959 | -22.3% |
| Trade receivables | 40 | €13,310 | €13,776 | +€466 | +3.5% |
| Other amounts receivable | 41 | €4,425 | - | -€4,425 | |
| Cash at bank and in hand | 54/58 | - | €17,745 | +€17,745 | |
| Deferred charges and accrued income | 490/1 | - | €1,247 | +€1,247 | |
| Total equity and liabilities | 10/49 | €60,498 | €68,521 | +€8,023 | +13.3% |
| Equity | 10/15 | €36,134 | €46,186 | +€10,051 | +27.8% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €27,487 | €27,487 | = | 0.0% |
| Distributable reserves | 133 | €27,487 | €27,487 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,647 | €18,698 | +€10,051 | +116.2% |
| Amounts payable | 17/49 | €24,363 | €22,335 | -€2,028 | -8.3% |
| Amounts payable within one year | 42/48 | €24,363 | €22,335 | -€2,028 | -8.3% |
| Financial debts | 43 | €4,318 | - | -€4,318 | |
| Credit institutions | 430/8 | €4,318 | - | -€4,318 | |
| Trade debts | 44 | €12,404 | €204 | -€12,200 | -98.4% |
| Suppliers | 440/4 | €12,404 | €204 | -€12,200 | -98.4% |
| Taxes, remuneration and social security | 45 | €7,641 | €7,269 | -€372 | -4.9% |
| Taxes | 450/3 | €7,641 | €7,269 | -€372 | -4.9% |
| Other amounts payable | 47/48 | - | €14,862 | +€14,862 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,749 | €8,949 | +€1,200 | +15.5% |
| Other operating charges | 640/8 | €2,044 | €1,036 | -€1,008 | -49.3% |
| Gross operating margin | 9900 | €55,541 | €63,026 | +€7,485 | +13.5% |
| Operating profit (loss) | 9901 | €45,748 | €53,041 | +€7,293 | +15.9% |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | €311 | €236 | -€75 | -24.1% |
| Recurring financial charges | 65 | €311 | €236 | -€75 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €45,437 | €52,817 | +€7,380 | +16.2% |
| Income taxes | 67/77 | €10,441 | €12,765 | +€2,324 | +22.3% |
| Profit (loss) for the period | 9904 | €34,995 | €40,051 | +€5,056 | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €34,995 | €40,051 | +€5,056 | +14.4% |
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.