NEXT LEVEL: 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.
NEXT LEVEL
Largest movements
- Receivables within one year +€763,037
up €763,037 (+86.6%), from €880,972 to €1.6m
of which Other amounts receivable: +€468,793
- Tangible fixed assets +€73,643
up €73,643 (+311.2%), from €23,660 to €97,304
of which Other tangible fixed assets: +€74,845
- Other debts +€523,036
up €523,036 (+69.7%), from €750,032 to €1.3m
- Accrued charges and deferred income +€301,368
up €301,368 (+75.4%), from €399,782 to €701,150
- Profit (loss) carried forward -€232,103
no longer reported in 2025 (was €232,103)
- Tax, wage and social debts +€124,190
up €124,190 (+385.4%), from €32,228 to €156,418
- Trade debts +€44,567
up €44,567 (+189.4%), from €23,531 to €68,098
- Gross operating margin +€480,383
up €480,383 (+102.7%), from €467,966 to €948,349
- Taxes +€115,222
up €115,222 (+109.1%), from €105,606 to €220,828
- Financial charges +€52,729
up €52,729 (+3554.9%), from €1,483 to €54,212
- Provisions -€15,721
down €15,721 (-51.1%), from €30,747 to €15,027
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 | €1,483,044 | €2,292,354 | +€809,309 | +54.6% |
| Fixed assets | 21/28 | €24,073 | €97,717 | +€73,643 | +305.9% |
| Tangible fixed assets | 22/27 | €23,660 | €97,304 | +€73,643 | +311.2% |
| Furniture and vehicles | 24 | €8,355 | €7,153 | -€1,202 | -14.4% |
| Other tangible fixed assets | 26 | €15,306 | €90,151 | +€74,845 | +489.0% |
| Financial fixed assets | 28 | €413 | €413 | = | 0.0% |
| Current assets | 29/58 | €1,458,971 | €2,194,637 | +€735,666 | +50.4% |
| Amounts receivable after more than one year | 29 | €73,688 | €60,500 | -€13,188 | -17.9% |
| Other amounts receivable | 291 | €73,688 | €60,500 | -€13,188 | -17.9% |
| Amounts receivable within one year | 40/41 | €880,972 | €1,644,009 | +€763,037 | +86.6% |
| Trade receivables | 40 | €829,511 | €1,123,754 | +€294,243 | +35.5% |
| Other amounts receivable | 41 | €51,462 | €520,255 | +€468,793 | +911.0% |
| Cash at bank and in hand | 54/58 | €491,703 | €490,128 | -€1,575 | -0.3% |
| Deferred charges and accrued income | 490/1 | €12,607 | - | -€12,607 | |
| Total equity and liabilities | 10/49 | €1,483,044 | €2,292,354 | +€809,309 | +54.6% |
| Equity | 10/15 | €235,103 | €3,000 | -€232,103 | -98.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €232,103 | - | -€232,103 | |
| Provisions and deferred taxes | 16 | €30,747 | €45,774 | +€15,027 | +48.9% |
| Provisions for liabilities and charges | 160/5 | €30,747 | €45,774 | +€15,027 | +48.9% |
| Other liabilities and charges | 164/5 | €30,747 | €45,774 | +€15,027 | +48.9% |
| Amounts payable | 17/49 | €1,217,194 | €2,243,580 | +€1.0m | +84.3% |
| Amounts payable within one year | 42/48 | €817,412 | €1,542,430 | +€725,017 | +88.7% |
| Current portion of amounts payable after more than one year | 42 | - | €44,366 | +€44,366 | |
| Trade debts | 44 | €23,531 | €68,098 | +€44,567 | +189.4% |
| Suppliers | 440/4 | €23,531 | €68,098 | +€44,567 | +189.4% |
| Advances received on contracts in progress | 46 | €11,621 | €478 | -€11,143 | -95.9% |
| Taxes, remuneration and social security | 45 | €32,228 | €156,418 | +€124,190 | +385.4% |
| Taxes | 450/3 | €32,228 | €156,418 | +€124,190 | +385.4% |
| Other amounts payable | 47/48 | €750,032 | €1,273,069 | +€523,036 | +69.7% |
| Accrued charges and deferred income | 492/3 | €399,782 | €701,150 | +€301,368 | +75.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,367 | €11,136 | +€5,769 | +107.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €30,747 | €15,027 | -€15,721 | -51.1% |
| Other operating charges | 640/8 | €876 | €526 | -€350 | -40.0% |
| Gross operating margin | 9900 | €467,966 | €948,349 | +€480,383 | +102.7% |
| Operating profit (loss) | 9901 | €430,976 | €921,661 | +€490,685 | +113.9% |
| Financial income | 75/76B | €6,964 | €8,464 | +€1,500 | +21.5% |
| Recurring financial income | 75 | €6,964 | €8,464 | +€1,500 | +21.5% |
| Financial charges | 65/66B | €1,483 | €54,212 | +€52,729 | +3554.9% |
| Recurring financial charges | 65 | €1,483 | €54,212 | +€52,729 | +3554.9% |
| Profit (loss) for the period before taxes | 9903 | €436,457 | €875,913 | +€439,456 | +100.7% |
| Income taxes | 67/77 | €105,606 | €220,828 | +€115,222 | +109.1% |
| Profit (loss) for the period | 9904 | €330,851 | €655,085 | +€324,233 | +98.0% |
| Profit (loss) for the period to be appropriated | 9905 | €330,851 | €655,085 | +€324,233 | +98.0% |
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.