Menno: 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.
Menno
Largest movements
- Stocks and contracts +€90,000
up €90,000 (+1,180%), from €7,624 to €97,624
- Financial fixed assets +€26,063
up €26,063 (+81.3%), from €32,075 to €58,138
- Cash +€22,063
up €22,063 (+359%), from €6,150 to €28,213
mainly Trade debts (+€55,625) and Other debts (+€46,712)
- Receivables within one year +€13,420
up €13,420 (+271%), from €4,957 to €18,376
of which Trade receivables: +€13,277
- Tangible fixed assets +€2,316
up €2,316 (+44.9%), from €5,159 to €7,475
- Trade debts +€55,625
up €55,625 (+339%), from €16,396 to €72,021
- Other debts +€46,712
new in 2025: €46,712
- Tax, wage and social debts +€42,625
up €42,625 (+843%), from €5,055 to €47,680
of which Taxes: +€24,470
- Short-term financial debts +€8,657
new in 2025: €8,657
- Gross operating margin +€142,482
up €142,482 (+13,641%), from €1,045 to €143,526
- Staff costs +€127,397
new in 2025: €127,397
- Other operating charges +€7,502
new in 2025: €7,502
- Taxes +€3,609
up €3,609 (+936%), from €386 to €3,995
- Financial charges +€2,894
up €2,894 (+2,302%), from €126 to €3,020
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 | €56,400 | €210,087 | +€153,686 | +272% |
| Fixed assets | 21/28 | €37,669 | €65,873 | +€28,204 | +74.9% |
| Intangible fixed assets | 21 | €435 | €260 | -€175 | -40.2% |
| Tangible fixed assets | 22/27 | €5,159 | €7,475 | +€2,316 | +44.9% |
| Plant, machinery and equipment | 23 | €5,159 | €7,475 | +€2,316 | +44.9% |
| Financial fixed assets | 28 | €32,075 | €58,138 | +€26,063 | +81.3% |
| Current assets | 29/58 | €18,731 | €144,214 | +€125,483 | +670% |
| Stocks and contracts in progress | 3 | €7,624 | €97,624 | +€90,000 | +1,180% |
| Stocks | 30/36 | €7,624 | €97,624 | +€90,000 | +1,180% |
| Amounts receivable within one year | 40/41 | €4,957 | €18,376 | +€13,420 | +271% |
| Trade receivables | 40 | €3,600 | €16,877 | +€13,277 | +369% |
| Other amounts receivable | 41 | €1,357 | €1,500 | +€143 | +10.5% |
| Cash at bank and in hand | 54/58 | €6,150 | €28,213 | +€22,063 | +359% |
| Total equity and liabilities | 10/49 | €56,400 | €210,087 | +€153,686 | +272% |
| Equity | 10/15 | €34,950 | €35,018 | +€68 | +0.2% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50 | €18 | +€68 | |
| Amounts payable | 17/49 | €21,450 | €175,069 | +€153,618 | +716% |
| Amounts payable within one year | 42/48 | €21,450 | €175,069 | +€153,618 | +716% |
| Financial debts | 43 | - | €8,657 | +€8,657 | |
| Credit institutions | 430/8 | - | €8,657 | +€8,657 | |
| Trade debts | 44 | €16,396 | €72,021 | +€55,625 | +339% |
| Suppliers | 440/4 | €16,396 | €72,021 | +€55,625 | +339% |
| Taxes, remuneration and social security | 45 | €5,055 | €47,680 | +€42,625 | +843% |
| Taxes | 450/3 | €5,055 | €29,524 | +€24,470 | +484% |
| Remuneration and social security | 454/9 | - | €18,155 | +€18,155 | |
| Other amounts payable | 47/48 | - | €46,712 | +€46,712 | |
| Remuneration, social security and pensions | 62 | - | €127,397 | +€127,397 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €603 | €1,545 | +€942 | +156% |
| Other operating charges | 640/8 | - | €7,502 | +€7,502 | |
| Gross operating margin | 9900 | €1,045 | €143,526 | +€142,482 | +13,641% |
| Operating profit (loss) | 9901 | €442 | €7,083 | +€6,641 | +1,504% |
| Financial income | 75/76B | €20 | - | -€20 | |
| Recurring financial income | 75 | €20 | - | -€20 | |
| Financial charges | 65/66B | €126 | €3,020 | +€2,894 | +2,302% |
| Recurring financial charges | 65 | €126 | €3,020 | +€2,894 | +2,302% |
| Profit (loss) for the period before taxes | 9903 | €335 | €4,063 | +€3,728 | +1,111% |
| Income taxes | 67/77 | €386 | €3,995 | +€3,609 | +936% |
| Profit (loss) for the period | 9904 | -€50 | €68 | +€118 | |
| Profit (loss) for the period to be appropriated | 9905 | -€50 | €68 | +€118 |
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 26 October 2026 via checked.be.