MAY: 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.
MAY
Largest movements
- Tangible fixed assets +€7,462
up €7,462 (+121%), from €6,164 to €13,626
of which Furniture and vehicles: +€9,878
- Cash +€2,688
up €2,688 (+23.3%), from €11,512 to €14,200
mainly Net result for the year (+€6,896) and Other debts (+€5,530)
- Deferred charges and accrued income +€1,250
new in 2025: €1,250
- Receivables within one year -€722
down €722 (-69.9%), from €1,032 to €310
- Stocks and contracts +€343
up €343 (+19.4%), from €1,769 to €2,112
- Other debts +€5,530
up €5,530 (+51.5%), from €10,731 to €16,261
- Profit (loss) carried forward +€5,230
up €5,230 (+770%), from €679 to €5,910
- Trade debts +€1,851
up €1,851 (+3,880%), from €48 to €1,899
- Debts after one year -€1,624
down €1,624 (-49.6%), from €3,272 to €1,648
- Gross operating margin +€4,267
up €4,267 (+40.9%), from €10,421 to €14,687
- Depreciation +€1,306
up €1,306 (+45.0%), from €2,900 to €4,206
- Other operating charges +€704
up €704 (+142%), from €498 to €1,202
- Taxes +€641
up €641 (+44.5%), from €1,440 to €2,081
- Staff costs -€455
down €455 (-100%), from €455 to €0
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 | €20,476 | €31,498 | +€11,022 | +53.8% |
| Fixed assets | 21/28 | €6,164 | €13,626 | +€7,462 | +121% |
| Tangible fixed assets | 22/27 | €6,164 | €13,626 | +€7,462 | +121% |
| Plant, machinery and equipment | 23 | €5,664 | €3,248 | -€2,416 | -42.7% |
| Furniture and vehicles | 24 | €500 | €10,378 | +€9,878 | +1,976% |
| Current assets | 29/58 | €14,312 | €17,872 | +€3,559 | +24.9% |
| Stocks and contracts in progress | 3 | €1,769 | €2,112 | +€343 | +19.4% |
| Stocks | 30/36 | €1,769 | €2,112 | +€343 | +19.4% |
| Amounts receivable within one year | 40/41 | €1,032 | €310 | -€722 | -69.9% |
| Trade receivables | 40 | €1,032 | €310 | -€722 | -69.9% |
| Cash at bank and in hand | 54/58 | €11,512 | €14,200 | +€2,688 | +23.3% |
| Deferred charges and accrued income | 490/1 | - | €1,250 | +€1,250 | |
| Total equity and liabilities | 10/49 | €20,476 | €31,498 | +€11,022 | +53.8% |
| Equity | 10/15 | €2,179 | €7,410 | +€5,230 | +240% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €679 | €5,910 | +€5,230 | +770% |
| Amounts payable | 17/49 | €18,297 | €24,088 | +€5,791 | +31.7% |
| Amounts payable after more than one year | 17 | €3,272 | €1,648 | -€1,624 | -49.6% |
| Financial debts | 170/4 | €3,272 | €1,648 | -€1,624 | -49.6% |
| Amounts payable within one year | 42/48 | €15,025 | €22,440 | +€7,415 | +49.4% |
| Current portion of amounts payable after more than one year | 42 | €1,600 | €1,624 | +€24 | +1.5% |
| Trade debts | 44 | €48 | €1,899 | +€1,851 | +3,880% |
| Suppliers | 440/4 | €48 | €1,899 | +€1,851 | +3,880% |
| Taxes, remuneration and social security | 45 | €2,646 | €2,656 | +€10 | +0.4% |
| Taxes | 450/3 | €2,646 | €2,656 | +€10 | +0.4% |
| Other amounts payable | 47/48 | €10,731 | €16,261 | +€5,530 | +51.5% |
| Non-recurring operating income | 76A | - | €1,048 | +€1,048 | |
| Remuneration, social security and pensions | 62 | €455 | €0 | -€455 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,900 | €4,206 | +€1,306 | +45.0% |
| Other operating charges | 640/8 | €498 | €1,202 | +€704 | +142% |
| Gross operating margin | 9900 | €10,421 | €14,687 | +€4,267 | +40.9% |
| Operating profit (loss) | 9901 | €6,568 | €9,279 | +€2,712 | +41.3% |
| Financial income | 75/76B | €2 | €29 | +€26 | +1,113% |
| Recurring financial income | 75 | €2 | €29 | +€26 | +1,113% |
| Financial charges | 65/66B | €253 | €330 | +€77 | +30.5% |
| Recurring financial charges | 65 | €253 | €330 | +€77 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | €6,317 | €8,978 | +€2,661 | +42.1% |
| Income taxes | 67/77 | €1,440 | €2,081 | +€641 | +44.5% |
| Profit (loss) for the period | 9904 | €4,876 | €6,896 | +€2,020 | +41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,876 | €6,896 | +€2,020 | +41.4% |
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 14 October 2026 via checked.be.