MANAGING TO MAKE A DIFFERENCE: what changed
Two financial 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.
MANAGING TO MAKE A DIFFERENCE
Largest movements
- Tangible fixed assets +€54,023
up €54,023 (+144%), from €37,629 to €91,652
of which Furniture and vehicles: +€51,827
- Cash +€3,762
up €3,762 (+6.9%), from €54,829 to €58,591
mainly Net result for the year (+€55,948) and Debts after one year (+€38,826)
- Debts after one year +€38,826
up €38,826 (+212%), from €18,301 to €57,127
- Profit (loss) carried forward -€24,052
down €24,052 (-52.1%), from €46,188 to €22,136
- Tax, wage and social debts +€20,616
up €20,616 (+175%), from €11,770 to €32,386
- Current portion of long-term debt +€13,257
up €13,257 (+85.7%), from €15,469 to €28,726
- Other debts +€11,155
new in 2025: €11,155
- Gross operating margin +€21,292
up €21,292 (+29.0%), from €73,386 to €94,678
- Depreciation +€4,028
up €4,028 (+23.1%), from €17,437 to €21,465
- Taxes +€2,836
up €2,836 (+22.7%), from €12,492 to €15,328
- Financial income -€1,681
down €1,681 (-44.9%), from €3,740 to €2,059
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.
Derived cash bridge
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 | €115,048 | €173,621 | +€58,573 | +50.9% |
| Formation expenses | 20 | €1,090 | €812 | -€278 | -25.5% |
| Fixed assets | 21/28 | €37,629 | €91,652 | +€54,023 | +144% |
| Tangible fixed assets | 22/27 | €37,629 | €91,652 | +€54,023 | +144% |
| Plant, machinery and equipment | 23 | €6,063 | €8,259 | +€2,196 | +36.2% |
| Furniture and vehicles | 24 | €31,566 | €83,393 | +€51,827 | +164% |
| Current assets | 29/58 | €76,329 | €81,157 | +€4,828 | +6.3% |
| Amounts receivable within one year | 40/41 | €19,230 | €18,824 | -€406 | -2.1% |
| Trade receivables | 40 | €10,382 | €18,824 | +€8,442 | +81.3% |
| Other amounts receivable | 41 | €8,848 | - | -€8,848 | |
| Cash at bank and in hand | 54/58 | €54,829 | €58,591 | +€3,762 | +6.9% |
| Deferred charges and accrued income | 490/1 | €2,270 | €3,742 | +€1,472 | +64.8% |
| Total equity and liabilities | 10/49 | €115,048 | €173,621 | +€58,573 | +50.9% |
| Equity | 10/15 | €66,648 | €42,596 | -€24,052 | -36.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,188 | €22,136 | -€24,052 | -52.1% |
| Amounts payable | 17/49 | €48,400 | €131,025 | +€82,625 | +171% |
| Amounts payable after more than one year | 17 | €18,301 | €57,127 | +€38,826 | +212% |
| Financial debts | 170/4 | €18,301 | €57,127 | +€38,826 | +212% |
| Amounts payable within one year | 42/48 | €30,099 | €73,898 | +€43,799 | +146% |
| Current portion of amounts payable after more than one year | 42 | €15,469 | €28,726 | +€13,257 | +85.7% |
| Trade debts | 44 | €2,860 | €1,631 | -€1,229 | -43.0% |
| Suppliers | 440/4 | €2,860 | €1,631 | -€1,229 | -43.0% |
| Taxes, remuneration and social security | 45 | €11,770 | €32,386 | +€20,616 | +175% |
| Taxes | 450/3 | €11,770 | €32,386 | +€20,616 | +175% |
| Other amounts payable | 47/48 | - | €11,155 | +€11,155 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,437 | €21,465 | +€4,028 | +23.1% |
| Other operating charges | 640/8 | €1,411 | €1,652 | +€241 | +17.1% |
| Gross operating margin | 9900 | €73,386 | €94,678 | +€21,292 | +29.0% |
| Operating profit (loss) | 9901 | €54,538 | €71,561 | +€17,023 | +31.2% |
| Financial income | 75/76B | €3,740 | €2,059 | -€1,681 | -44.9% |
| Recurring financial income | 75 | €3,740 | €2,059 | -€1,681 | -44.9% |
| Financial charges | 65/66B | €1,865 | €2,344 | +€479 | +25.7% |
| Recurring financial charges | 65 | €1,865 | €2,344 | +€479 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | €56,413 | €71,276 | +€14,863 | +26.3% |
| Income taxes | 67/77 | €12,492 | €15,328 | +€2,836 | +22.7% |
| Profit (loss) for the period | 9904 | €43,921 | €55,948 | +€12,027 | +27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €43,921 | €55,948 | +€12,027 | +27.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.