MARKETS & DATA: 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.
MARKETS & DATA
Largest movements
- Cash +€174,367
up €174,367 (+258%), from €67,648 to €242,014
mainly Receivables after one year (+€100,000) and Net result for the year (+€90,344)
- Receivables after one year -€100,000
no longer reported in 2025 (was €100,000)
- Receivables within one year +€22,437
up €22,437 (+195%), from €11,521 to €33,959
of which Trade receivables: +€22,241
- Deferred charges and accrued income -€3,245
no longer reported in 2025 (was €3,245)
- Reserves +€89,511
up €89,511 (+54.6%), from €164,025 to €253,537
- Gross operating margin -€7,205
down €7,205 (-5.4%), from €134,178 to €126,973
- Taxes -€2,694
down €2,694 (-7.0%), from €38,688 to €35,994
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 | €189,731 | €282,652 | +€92,921 | +49.0% |
| Fixed assets | 21/28 | €7,317 | €6,679 | -€638 | -8.7% |
| Tangible fixed assets | 22/27 | €7,317 | €6,679 | -€638 | -8.7% |
| Furniture and vehicles | 24 | €7,317 | €6,679 | -€638 | -8.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €182,414 | €275,973 | +€93,559 | +51.3% |
| Amounts receivable after more than one year | 29 | €100,000 | - | -€100,000 | |
| Other amounts receivable | 291 | €100,000 | - | -€100,000 | |
| Amounts receivable within one year | 40/41 | €11,521 | €33,959 | +€22,437 | +195% |
| Trade receivables | 40 | €9,656 | €31,897 | +€22,241 | +230% |
| Other amounts receivable | 41 | €1,866 | €2,062 | +€196 | +10.5% |
| Cash at bank and in hand | 54/58 | €67,648 | €242,014 | +€174,367 | +258% |
| Deferred charges and accrued income | 490/1 | €3,245 | - | -€3,245 | |
| Total equity and liabilities | 10/49 | €189,731 | €282,652 | +€92,921 | +49.0% |
| Equity | 10/15 | €169,025 | €258,537 | +€89,511 | +53.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €164,025 | €253,537 | +€89,511 | +54.6% |
| Distributable reserves | 133 | €164,025 | €253,537 | +€89,511 | +54.6% |
| Amounts payable | 17/49 | €20,706 | €24,115 | +€3,410 | +16.5% |
| Amounts payable within one year | 42/48 | €20,706 | €24,115 | +€3,410 | +16.5% |
| Trade debts | 44 | €1,937 | €2,805 | +€868 | +44.8% |
| Suppliers | 440/4 | €1,937 | €2,805 | +€868 | +44.8% |
| Taxes, remuneration and social security | 45 | €17,909 | €20,477 | +€2,568 | +14.3% |
| Taxes | 450/3 | €17,909 | €20,477 | +€2,568 | +14.3% |
| Other amounts payable | 47/48 | €859 | €833 | -€26 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,361 | €2,621 | +€261 | +11.0% |
| Other operating charges | 640/8 | - | €668 | +€668 | |
| Gross operating margin | 9900 | €134,178 | €126,973 | -€7,205 | -5.4% |
| Operating profit (loss) | 9901 | €131,817 | €123,684 | -€8,133 | -6.2% |
| Financial income | 75/76B | €2,894 | €2,769 | -€125 | -4.3% |
| Recurring financial income | 75 | €2,894 | €2,769 | -€125 | -4.3% |
| Financial charges | 65/66B | €88 | €114 | +€26 | +29.6% |
| Recurring financial charges | 65 | €88 | €114 | +€26 | +29.6% |
| Profit (loss) for the period before taxes | 9903 | €134,623 | €126,339 | -€8,285 | -6.2% |
| Income taxes | 67/77 | €38,688 | €35,994 | -€2,694 | -7.0% |
| Profit (loss) for the period | 9904 | €95,935 | €90,344 | -€5,591 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €95,935 | €90,344 | -€5,591 | -5.8% |
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 14 October 2026 via checked.be.