May 4th: what changed
May 4th
Largest movements
- Receivables within one year +€29,003
up €29,003 (+102%), from €28,357 to €57,360
of which Other amounts receivable: +€47,136
- Cash +€12,178
up €12,178 (+7.0%), from €172,767 to €184,944
mainly Net result for the year (+€53,608) and Depreciation (+€2,277)
- Financial fixed assets +€4,600
up €4,600 (+113%), from €4,083 to €8,683
- Profit (loss) carried forward +€53,608
up €53,608 (+34.9%), from €153,639 to €207,247
- Tax, wage and social debts -€8,783
down €8,783 (-17.7%), from €49,599 to €40,816
of which Taxes: -€8,783
- Gross operating margin -€20,975
down €20,975 (-22.9%), from €91,608 to €70,633
- Taxes -€4,296
down €4,296 (-23.3%), from €18,416 to €14,120
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €210,445 | €253,627 | +€43,182 | +20.5% |
| Fixed assets | 21/28 | €9,000 | €11,322 | +€2,323 | +25.8% |
| Tangible fixed assets | 22/27 | €4,917 | €2,639 | -€2,277 | -46.3% |
| Furniture and vehicles | 24 | €4,917 | €2,639 | -€2,277 | -46.3% |
| Financial fixed assets | 28 | €4,083 | €8,683 | +€4,600 | +113% |
| Current assets | 29/58 | €201,445 | €242,304 | +€40,860 | +20.3% |
| Amounts receivable within one year | 40/41 | €28,357 | €57,360 | +€29,003 | +102% |
| Trade receivables | 40 | €28,357 | €10,225 | -€18,133 | -63.9% |
| Other amounts receivable | 41 | - | €47,136 | +€47,136 | |
| Cash at bank and in hand | 54/58 | €172,767 | €184,944 | +€12,178 | +7.0% |
| Deferred charges and accrued income | 490/1 | €321 | - | -€321 | |
| Total equity and liabilities | 10/49 | €210,445 | €253,627 | +€43,182 | +20.5% |
| Equity | 10/15 | €158,639 | €212,247 | +€53,608 | +33.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €153,639 | €207,247 | +€53,608 | +34.9% |
| Amounts payable | 17/49 | €51,806 | €41,380 | -€10,426 | -20.1% |
| Amounts payable within one year | 42/48 | €51,535 | €41,110 | -€10,426 | -20.2% |
| Trade debts | 44 | €444 | €293 | -€150 | -33.9% |
| Suppliers | 440/4 | €444 | €293 | -€150 | -33.9% |
| Taxes, remuneration and social security | 45 | €49,599 | €40,816 | -€8,783 | -17.7% |
| Taxes | 450/3 | €48,149 | €39,366 | -€8,783 | -18.2% |
| Remuneration and social security | 454/9 | €1,450 | €1,450 | = | 0.0% |
| Other amounts payable | 47/48 | €1,492 | - | -€1,492 | |
| Accrued charges and deferred income | 492/3 | €271 | €271 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,376 | €2,277 | -€98 | -4.1% |
| Gross operating margin | 9900 | €91,608 | €70,633 | -€20,975 | -22.9% |
| Operating profit (loss) | 9901 | €89,232 | €68,356 | -€20,877 | -23.4% |
| Financial income | 75/76B | €0 | €74 | +€74 | +17,184% |
| Recurring financial income | 75 | €0 | €74 | +€74 | +17,184% |
| Financial charges | 65/66B | €806 | €701 | -€104 | -13.0% |
| Recurring financial charges | 65 | €806 | €701 | -€104 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €88,427 | €67,728 | -€20,698 | -23.4% |
| Income taxes | 67/77 | €18,416 | €14,120 | -€4,296 | -23.3% |
| Profit (loss) for the period | 9904 | €70,010 | €53,608 | -€16,403 | -23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €70,010 | €53,608 | -€16,403 | -23.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.