Migration: what changed
Two fiscal 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.
Migration
Largest movements
- Cash -€5,312
down €5,312 (-16.7%), from €31,856 to €26,544
mainly Investment in fixed assets (net) (-€13,992) and Debts after one year (-€6,044)
- Tangible fixed assets +€5,126
up €5,126 (+17.8%), from €28,820 to €33,946
- Receivables within one year +€1,922
up €1,922 (+17.3%), from €11,138 to €13,060
- Debts after one year -€6,044
down €6,044 (-26.6%), from €22,759 to €16,714
- Profit (loss) carried forward +€5,338
up €5,338 (+33.2%), from €16,061 to €21,399
- Trade debts +€1,757
up €1,757 (+341.7%), from €514 to €2,271
- Tax, wage and social debts -€1,554
down €1,554 (-9.6%), from €16,135 to €14,582
- Short-term financial debts +€1,177
up €1,177 (+267.1%), from €441 to €1,617
- Gross operating margin -€6,047
down €6,047 (-22.8%), from €26,574 to €20,526
- Depreciation +€4,487
up €4,487 (+102.5%), from €4,379 to €8,866
- Taxes -€891
down €891 (-17.8%), from €5,000 to €4,109
- Other operating charges +€658
up €658 (+146.6%), from €449 to €1,107
- Financial charges +€422
up €422 (+61.6%), from €685 to €1,107
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.
Cash bridge derived
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 | €73,181 | €74,937 | +€1,756 | +2.4% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €28,820 | €33,946 | +€5,126 | +17.8% |
| Tangible fixed assets | 22/27 | €28,820 | €33,946 | +€5,126 | +17.8% |
| Furniture and vehicles | 24 | €28,820 | €33,946 | +€5,126 | +17.8% |
| Current assets | 29/58 | €44,361 | €40,991 | -€3,369 | -7.6% |
| Amounts receivable within one year | 40/41 | €11,138 | €13,060 | +€1,922 | +17.3% |
| Trade receivables | 40 | €11,138 | €13,060 | +€1,922 | +17.3% |
| Cash at bank and in hand | 54/58 | €31,856 | €26,544 | -€5,312 | -16.7% |
| Deferred charges and accrued income | 490/1 | €1,367 | €1,388 | +€21 | +1.5% |
| Total equity and liabilities | 10/49 | €73,181 | €74,937 | +€1,756 | +2.4% |
| Equity | 10/15 | €26,061 | €31,399 | +€5,338 | +20.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,061 | €21,399 | +€5,338 | +33.2% |
| Amounts payable | 17/49 | €47,120 | €43,538 | -€3,581 | -7.6% |
| Amounts payable after more than one year | 17 | €22,759 | €16,714 | -€6,044 | -26.6% |
| Financial debts | 170/4 | €22,759 | €16,714 | -€6,044 | -26.6% |
| Amounts payable within one year | 42/48 | €24,200 | €26,657 | +€2,458 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €5,820 | €6,044 | +€224 | +3.8% |
| Financial debts | 43 | €441 | €1,617 | +€1,177 | +267.1% |
| Credit institutions | 430/8 | €441 | €1,617 | +€1,177 | +267.1% |
| Trade debts | 44 | €514 | €2,271 | +€1,757 | +341.7% |
| Suppliers | 440/4 | €514 | €2,271 | +€1,757 | +341.7% |
| Advances received on contracts in progress | 46 | - | €188 | +€188 | |
| Taxes, remuneration and social security | 45 | €16,135 | €14,582 | -€1,554 | -9.6% |
| Taxes | 450/3 | €16,135 | €14,582 | -€1,554 | -9.6% |
| Other amounts payable | 47/48 | €1,290 | €1,955 | +€665 | +51.6% |
| Accrued charges and deferred income | 492/3 | €161 | €167 | +€6 | +3.5% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,379 | €8,866 | +€4,487 | +102.5% |
| Other operating charges | 640/8 | €449 | €1,107 | +€658 | +146.6% |
| Gross operating margin | 9900 | €26,574 | €20,526 | -€6,047 | -22.8% |
| Operating profit (loss) | 9901 | €21,746 | €10,554 | -€11,192 | -51.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €685 | €1,107 | +€422 | +61.6% |
| Recurring financial charges | 65 | €685 | €1,107 | +€422 | +61.6% |
| Profit (loss) for the period before taxes | 9903 | €21,061 | €9,447 | -€11,614 | -55.1% |
| Income taxes | 67/77 | €5,000 | €4,109 | -€891 | -17.8% |
| Profit (loss) for the period | 9904 | €16,061 | €5,338 | -€10,723 | -66.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,061 | €5,338 | -€10,723 | -66.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.