More To Show: 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.
More To Show
Largest movements
- Receivables within one year +€210,653
up €210,653 (+156%), from €135,051 to €345,704
of which Trade receivables: +€176,741
- Cash +€143,667
up €143,667 (+385%), from €37,288 to €180,955
mainly Trade debts (+€263,224) and Other debts (+€133,940)
- Stocks and contracts +€58,397
new in 2025: €58,397
- Tangible fixed assets -€10,243
down €10,243 (-9.4%), from €108,435 to €98,192
of which Furniture and vehicles: -€8,664
- Deferred charges and accrued income +€8,092
up €8,092 (+97.7%), from €8,282 to €16,374
- Trade debts +€263,224
up €263,224 (+489%), from €53,819 to €317,043
- Other debts +€133,940
up €133,940 (+3,015%), from €4,443 to €138,383
- Short-term financial debts +€89,859
up €89,859 (+236%), from €38,088 to €127,947
- Profit (loss) carried forward -€68,530
down €68,530 (-55.6%), from €123,251 to €54,721
- Debts after one year -€7,627
down €7,627 (-25.4%), from €30,038 to €22,411
- Staff costs +€92,563
up €92,563 (+46.7%), from €198,157 to €290,720
- Taxes -€21,840
down €21,840 (-96.4%), from €22,657 to €817
- Gross operating margin -€19,065
down €19,065 (-6.9%), from €275,465 to €256,400
- Depreciation +€10,959
up €10,959 (+71.0%), from €15,437 to €26,396
- Financial charges +€4,824
up €4,824 (+244%), from €1,977 to €6,801
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 | €298,506 | €710,072 | +€411,566 | +138% |
| Fixed assets | 21/28 | €117,885 | €108,642 | -€9,243 | -7.8% |
| Tangible fixed assets | 22/27 | €108,435 | €98,192 | -€10,243 | -9.4% |
| Plant, machinery and equipment | 23 | €67,372 | €65,793 | -€1,579 | -2.3% |
| Furniture and vehicles | 24 | €41,063 | €32,399 | -€8,664 | -21.1% |
| Financial fixed assets | 28 | €9,450 | €10,450 | +€1,000 | +10.6% |
| Current assets | 29/58 | €180,621 | €601,430 | +€420,809 | +233% |
| Stocks and contracts in progress | 3 | - | €58,397 | +€58,397 | |
| Contracts in progress | 37 | - | €58,397 | +€58,397 | |
| Amounts receivable within one year | 40/41 | €135,051 | €345,704 | +€210,653 | +156% |
| Trade receivables | 40 | €74,899 | €251,640 | +€176,741 | +236% |
| Other amounts receivable | 41 | €60,152 | €94,064 | +€33,912 | +56.4% |
| Cash at bank and in hand | 54/58 | €37,288 | €180,955 | +€143,667 | +385% |
| Deferred charges and accrued income | 490/1 | €8,282 | €16,374 | +€8,092 | +97.7% |
| Total equity and liabilities | 10/49 | €298,506 | €710,072 | +€411,566 | +138% |
| Equity | 10/15 | €143,251 | €74,721 | -€68,530 | -47.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €123,251 | €54,721 | -€68,530 | -55.6% |
| Amounts payable | 17/49 | €155,255 | €635,351 | +€480,096 | +309% |
| Amounts payable after more than one year | 17 | €30,038 | €22,411 | -€7,627 | -25.4% |
| Financial debts | 170/4 | €30,038 | €22,411 | -€7,627 | -25.4% |
| Amounts payable within one year | 42/48 | €125,217 | €612,037 | +€486,820 | +389% |
| Current portion of amounts payable after more than one year | 42 | €7,362 | €7,626 | +€264 | +3.6% |
| Financial debts | 43 | €38,088 | €127,947 | +€89,859 | +236% |
| Credit institutions | 430/8 | €38,088 | €127,947 | +€89,859 | +236% |
| Trade debts | 44 | €53,819 | €317,043 | +€263,224 | +489% |
| Suppliers | 440/4 | €53,819 | €317,043 | +€263,224 | +489% |
| Taxes, remuneration and social security | 45 | €21,505 | €21,038 | -€467 | -2.2% |
| Taxes | 450/3 | €229 | €352 | +€123 | +53.7% |
| Remuneration and social security | 454/9 | €21,276 | €20,686 | -€590 | -2.8% |
| Other amounts payable | 47/48 | €4,443 | €138,383 | +€133,940 | +3,015% |
| Accrued charges and deferred income | 492/3 | - | €903 | +€903 | |
| Remuneration, social security and pensions | 62 | €198,157 | €290,720 | +€92,563 | +46.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,437 | €26,396 | +€10,959 | +71.0% |
| Other operating charges | 640/8 | €2,283 | €827 | -€1,456 | -63.8% |
| Gross operating margin | 9900 | €275,465 | €256,400 | -€19,065 | -6.9% |
| Operating profit (loss) | 9901 | €59,588 | -€61,543 | -€121,131 | |
| Financial income | 75/76B | €1,524 | €638 | -€886 | -58.1% |
| Recurring financial income | 75 | €1,524 | €638 | -€886 | -58.1% |
| Financial charges | 65/66B | €1,977 | €6,801 | +€4,824 | +244% |
| Recurring financial charges | 65 | €1,977 | €6,801 | +€4,824 | +244% |
| Profit (loss) for the period before taxes | 9903 | €59,135 | -€67,706 | -€126,841 | |
| Income taxes | 67/77 | €22,657 | €817 | -€21,840 | -96.4% |
| Profit (loss) for the period | 9904 | €36,478 | -€68,523 | -€105,001 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,478 | -€68,523 | -€105,001 |
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 28 October 2026 via checked.be.