NEU: 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.
NEU
Largest movements
- Tangible fixed assets +€84,272
up €84,272 (+173.6%), from €48,542 to €132,814
of which Furniture and vehicles: +€85,423
- Receivables within one year +€31,292
up €31,292 (+204.1%), from €15,328 to €46,621
of which Other amounts receivable: +€46,619
- Cash +€21,097
up €21,097 (+172.0%), from €12,266 to €33,363
mainly Debts after one year (+€93,215) and Net result for the year (+€35,723)
- Debts after one year +€93,215
up €93,215 (+355.6%), from €26,216 to €119,431
- Reserves +€35,723
up €35,723 (+234.4%), from €15,242 to €50,965
- Tax, wage and social debts +€11,716
up €11,716 (+85.0%), from €13,790 to €25,507
of which Taxes: +€11,716
- Current portion of long-term debt -€7,199
down €7,199 (-33.2%), from €21,713 to €14,515
- Other debts -€2,221
no longer reported in 2025 (was €2,221)
- Gross operating margin +€43,333
up €43,333 (+188.1%), from €23,039 to €66,373
- Depreciation +€10,575
up €10,575 (+644.9%), from €1,640 to €12,214
- Taxes +€5,887
up €5,887 (+108.0%), from €5,451 to €11,338
- Financial charges +€2,856
up €2,856 (+591.0%), from €483 to €3,339
- Other operating charges +€2,374
up €2,374 (+1060.2%), from €224 to €2,598
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 | €80,527 | €215,979 | +€135,452 | +168.2% |
| Formation expenses | 20 | €959 | - | -€959 | |
| Fixed assets | 21/28 | €50,985 | €134,757 | +€83,772 | +164.3% |
| Intangible fixed assets | 21 | €2,442 | €1,942 | -€500 | -20.5% |
| Tangible fixed assets | 22/27 | €48,542 | €132,814 | +€84,272 | +173.6% |
| Plant, machinery and equipment | 23 | €3,323 | €2,171 | -€1,152 | -34.7% |
| Furniture and vehicles | 24 | €45,220 | €130,643 | +€85,423 | +188.9% |
| Current assets | 29/58 | €28,583 | €81,223 | +€52,640 | +184.2% |
| Amounts receivable within one year | 40/41 | €15,328 | €46,621 | +€31,292 | +204.1% |
| Trade receivables | 40 | €15,327 | - | -€15,327 | |
| Other amounts receivable | 41 | €2 | €46,621 | +€46,619 | +2791567.1% |
| Cash at bank and in hand | 54/58 | €12,266 | €33,363 | +€21,097 | +172.0% |
| Deferred charges and accrued income | 490/1 | €989 | €1,238 | +€250 | +25.3% |
| Total equity and liabilities | 10/49 | €80,527 | €215,979 | +€135,452 | +168.2% |
| Equity | 10/15 | €16,242 | €51,965 | +€35,723 | +219.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €15,242 | €50,965 | +€35,723 | +234.4% |
| Distributable reserves | 133 | €15,242 | €50,965 | +€35,723 | +234.4% |
| Amounts payable | 17/49 | €64,285 | €164,014 | +€99,729 | +155.1% |
| Amounts payable after more than one year | 17 | €26,216 | €119,431 | +€93,215 | +355.6% |
| Financial debts | 170/4 | €26,216 | €119,431 | +€93,215 | +355.6% |
| Amounts payable within one year | 42/48 | €38,070 | €42,574 | +€4,505 | +11.8% |
| Current portion of amounts payable after more than one year | 42 | €21,713 | €14,515 | -€7,199 | -33.2% |
| Trade debts | 44 | €345 | €2,553 | +€2,208 | +640.1% |
| Suppliers | 440/4 | €345 | €2,553 | +€2,208 | +640.1% |
| Taxes, remuneration and social security | 45 | €13,790 | €25,507 | +€11,716 | +85.0% |
| Taxes | 450/3 | €11,590 | €23,307 | +€11,716 | +101.1% |
| Remuneration and social security | 454/9 | €2,200 | €2,200 | = | 0.0% |
| Other amounts payable | 47/48 | €2,221 | - | -€2,221 | |
| Accrued charges and deferred income | 492/3 | - | €2,009 | +€2,009 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,640 | €12,214 | +€10,575 | +644.9% |
| Other operating charges | 640/8 | €224 | €2,598 | +€2,374 | +1060.2% |
| Non-recurring operating charges | 66A | - | €2,425 | +€2,425 | |
| Gross operating margin | 9900 | €23,039 | €66,373 | +€43,333 | +188.1% |
| Operating profit (loss) | 9901 | €21,176 | €49,135 | +€27,960 | +132.0% |
| Financial income | 75/76B | - | €1,265 | +€1,265 | |
| Recurring financial income | 75 | - | €1,265 | +€1,265 | |
| Financial charges | 65/66B | €483 | €3,339 | +€2,856 | +591.0% |
| Recurring financial charges | 65 | €483 | €3,339 | +€2,856 | +591.0% |
| Profit (loss) for the period before taxes | 9903 | €20,692 | €47,061 | +€26,368 | +127.4% |
| Income taxes | 67/77 | €5,451 | €11,338 | +€5,887 | +108.0% |
| Profit (loss) for the period | 9904 | €15,242 | €35,723 | +€20,481 | +134.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,242 | €35,723 | +€20,481 | +134.4% |
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 9 October 2026 via checked.be.