NEW TONE: 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.
NEW TONE
Largest movements
- Cash +€67,415
up €67,415 (+60.5%), from €111,430 to €178,845
mainly Net result for the year (+€54,580) and Receivables within one year (+€38,602)
- Receivables within one year -€38,602
down €38,602 (-72.8%), from €53,021 to €14,419
of which Trade receivables: -€30,712
- Reserves +€54,580
up €54,580 (+53.1%), from €102,835 to €157,416
of which Distributable reserves: +€54,580
- Other debts -€18,376
down €18,376 (-43.4%), from €42,387 to €24,010
- Accrued charges and deferred income -€10,270
down €10,270 (-100%), from €10,270 to €0
- Tax, wage and social debts +€8,168
up €8,168 (+31.7%), from €25,777 to €33,945
- Trade debts -€3,670
down €3,670 (-72.1%), from €5,091 to €1,421
- Gross operating margin -€20,798
down €20,798 (-19.3%), from €107,615 to €86,817
- Taxes -€6,501
down €6,501 (-17.8%), from €36,484 to €29,983
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 | €194,655 | €224,121 | +€29,466 | +15.1% |
| Fixed assets | 21/28 | €10,204 | €10,857 | +€653 | +6.4% |
| Tangible fixed assets | 22/27 | €10,204 | €10,857 | +€653 | +6.4% |
| Plant, machinery and equipment | 23 | €723 | €457 | -€266 | -36.8% |
| Furniture and vehicles | 24 | €9,481 | €10,401 | +€919 | +9.7% |
| Current assets | 29/58 | €184,451 | €213,264 | +€28,813 | +15.6% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €53,021 | €14,419 | -€38,602 | -72.8% |
| Trade receivables | 40 | €45,130 | €14,419 | -€30,712 | -68.1% |
| Other amounts receivable | 41 | €7,891 | €0 | -€7,891 | -100% |
| Cash at bank and in hand | 54/58 | €111,430 | €178,845 | +€67,415 | +60.5% |
| Total equity and liabilities | 10/49 | €194,655 | €224,121 | +€29,466 | +15.1% |
| Equity | 10/15 | €110,165 | €164,745 | +€54,580 | +49.5% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €102,835 | €157,416 | +€54,580 | +53.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €102,835 | €157,416 | +€54,580 | +53.1% |
| Profit (loss) carried forward | 14 | €930 | €930 | = | 0.0% |
| Amounts payable | 17/49 | €84,490 | €59,376 | -€25,114 | -29.7% |
| Amounts payable within one year | 42/48 | €74,220 | €59,376 | -€14,844 | -20.0% |
| Trade debts | 44 | €5,091 | €1,421 | -€3,670 | -72.1% |
| Suppliers | 440/4 | €5,091 | €1,421 | -€3,670 | -72.1% |
| Advances received on contracts in progress | 46 | €966 | €0 | -€966 | -100% |
| Taxes, remuneration and social security | 45 | €25,777 | €33,945 | +€8,168 | +31.7% |
| Taxes | 450/3 | €25,777 | €33,945 | +€8,168 | +31.7% |
| Other amounts payable | 47/48 | €42,387 | €24,010 | -€18,376 | -43.4% |
| Accrued charges and deferred income | 492/3 | €10,270 | €0 | -€10,270 | -100% |
| Non-recurring operating income | 76A | €276 | €0 | -€276 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,238 | €2,355 | +€118 | +5.3% |
| Other operating charges | 640/8 | €1,249 | €742 | -€508 | -40.6% |
| Gross operating margin | 9900 | €107,615 | €86,817 | -€20,798 | -19.3% |
| Operating profit (loss) | 9901 | €104,128 | €83,720 | -€20,408 | -19.6% |
| Financial income | 75/76B | €675 | €1,018 | +€343 | +50.8% |
| Recurring financial income | 75 | €675 | €1,018 | +€343 | +50.8% |
| Financial charges | 65/66B | €355 | €175 | -€180 | -50.7% |
| Recurring financial charges | 65 | €355 | €175 | -€180 | -50.7% |
| Profit (loss) for the period before taxes | 9903 | €104,448 | €84,563 | -€19,885 | -19.0% |
| Income taxes | 67/77 | €36,484 | €29,983 | -€6,501 | -17.8% |
| Profit (loss) for the period | 9904 | €67,964 | €54,580 | -€13,384 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €67,964 | €54,580 | -€13,384 | -19.7% |
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 19 October 2026 via checked.be.