MoreThanWords: 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.
MoreThanWords
Largest movements
- Cash +€78,172
up €78,172 (+975.7%), from €8,012 to €86,184
mainly Net result for the year (+€28,892) and Depreciation (+€22,779)
- Tangible fixed assets -€21,143
down €21,143 (-40.1%), from €52,690 to €31,547
of which Furniture and vehicles: -€15,982
- Receivables within one year +€12,017
up €12,017 (+40.2%), from €29,859 to €41,876
of which Trade receivables: +€12,017
- Profit (loss) carried forward +€28,892
up €28,892 (+43.0%), from -€67,184 to -€38,291
- Other debts +€20,159
up €20,159 (+19.6%), from €102,905 to €123,065
- Tax, wage and social debts +€17,940
up €17,940 (+435.2%), from €4,122 to €22,062
- Gross operating margin +€53,411
up €53,411 (+1658.9%), from €3,220 to €56,631
- Depreciation -€7,125
down €7,125 (-23.8%), from €29,904 to €22,779
- Taxes +€930
up €930 (+247.9%), from €375 to €1,306
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 | €104,297 | €171,462 | +€67,164 | +64.4% |
| Fixed assets | 21/28 | €53,544 | €32,401 | -€21,143 | -39.5% |
| Tangible fixed assets | 22/27 | €52,690 | €31,547 | -€21,143 | -40.1% |
| Plant, machinery and equipment | 23 | €14,066 | €8,905 | -€5,161 | -36.7% |
| Furniture and vehicles | 24 | €38,624 | €22,641 | -€15,982 | -41.4% |
| Financial fixed assets | 28 | €854 | €854 | = | 0.0% |
| Current assets | 29/58 | €50,753 | €139,061 | +€88,308 | +174.0% |
| Stocks and contracts in progress | 3 | €11,382 | €11,000 | -€382 | -3.4% |
| Stocks | 30/36 | €11,382 | €11,000 | -€382 | -3.4% |
| Amounts receivable within one year | 40/41 | €29,859 | €41,876 | +€12,017 | +40.2% |
| Trade receivables | 40 | €16,436 | €28,453 | +€12,017 | +73.1% |
| Other amounts receivable | 41 | €13,423 | €13,423 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,012 | €86,184 | +€78,172 | +975.7% |
| Deferred charges and accrued income | 490/1 | €1,500 | - | -€1,500 | |
| Total equity and liabilities | 10/49 | €104,297 | €171,462 | +€67,164 | +64.4% |
| Equity | 10/15 | -€11,066 | €17,827 | +€28,892 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €55,118 | €55,118 | = | 0.0% |
| Distributable reserves | 133 | €55,118 | €55,118 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,184 | -€38,291 | +€28,892 | +43.0% |
| Amounts payable | 17/49 | €115,363 | €153,635 | +€38,272 | +33.2% |
| Amounts payable within one year | 42/48 | €115,363 | €153,635 | +€38,272 | +33.2% |
| Trade debts | 44 | €8,336 | €8,508 | +€172 | +2.1% |
| Suppliers | 440/4 | €8,336 | €8,508 | +€172 | +2.1% |
| Taxes, remuneration and social security | 45 | €4,122 | €22,062 | +€17,940 | +435.2% |
| Taxes | 450/3 | €4,122 | €22,062 | +€17,940 | +435.2% |
| Other amounts payable | 47/48 | €102,905 | €123,065 | +€20,159 | +19.6% |
| Non-recurring operating income | 76A | - | €10,700 | +€10,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,904 | €22,779 | -€7,125 | -23.8% |
| Other operating charges | 640/8 | €758 | €970 | +€212 | +27.9% |
| Gross operating margin | 9900 | €3,220 | €56,631 | +€53,411 | +1658.9% |
| Operating profit (loss) | 9901 | -€27,442 | €32,882 | +€60,324 | |
| Financial income | 75/76B | €107 | €4 | -€103 | -96.3% |
| Recurring financial income | 75 | €107 | €4 | -€103 | -96.3% |
| Financial charges | 65/66B | €2,885 | €2,688 | -€198 | -6.9% |
| Recurring financial charges | 65 | €2,885 | €2,688 | -€198 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | -€30,220 | €30,198 | +€60,418 | |
| Income taxes | 67/77 | €375 | €1,306 | +€930 | +247.9% |
| Profit (loss) for the period | 9904 | -€30,596 | €28,892 | +€59,488 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,596 | €28,892 | +€59,488 |
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 10 October 2026 via checked.be.