Niels: 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.
Niels
Largest movements
- Receivables within one year +€13,941
up €13,941 (+67.2%), from €20,736 to €34,677
of which Trade receivables: +€11,651
- Tangible fixed assets -€4,786
down €4,786 (-48.3%), from €9,901 to €5,115
of which Furniture and vehicles: -€3,836
- Cash -€1,781
down €1,781 (-18.6%), from €9,593 to €7,812
mainly Contributions, distributions and other (-€14,891) and Receivables within one year (-€13,941)
- Other debts +€7,391
up €7,391 (+98.6%), from €7,500 to €14,891
- Trade debts +€4,762
up €4,762 (+231.0%), from €2,061 to €6,824
- Tax, wage and social debts -€1,716
down €1,716 (-53.1%), from €3,230 to €1,514
of which Taxes: -€1,734
- Reserves -€1,486
down €1,486 (-8.3%), from €17,986 to €16,500
- Advances received -€1,400
down €1,400 (-100.0%), from €1,400 to €0
- Gross operating margin +€24,228
up €24,228 (+104.7%), from €23,149 to €47,377
- Staff costs +€21,359
new in 2025: €21,359
- Depreciation -€2,869
down €2,869 (-37.5%), from €7,656 to €4,786
- Taxes +€1,729
up €1,729 (+39.5%), from €4,373 to €6,101
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 | €40,919 | €48,418 | +€7,499 | +18.3% |
| Fixed assets | 21/28 | €9,901 | €5,115 | -€4,786 | -48.3% |
| Tangible fixed assets | 22/27 | €9,901 | €5,115 | -€4,786 | -48.3% |
| Plant, machinery and equipment | 23 | €348 | €0 | -€348 | -100.0% |
| Furniture and vehicles | 24 | €3,836 | €0 | -€3,836 | -100.0% |
| Other tangible fixed assets | 26 | €5,717 | €5,115 | -€602 | -10.5% |
| Current assets | 29/58 | €31,018 | €43,303 | +€12,285 | +39.6% |
| Amounts receivable within one year | 40/41 | €20,736 | €34,677 | +€13,941 | +67.2% |
| Trade receivables | 40 | €0 | €11,651 | +€11,651 | |
| Other amounts receivable | 41 | €20,736 | €23,026 | +€2,290 | +11.0% |
| Cash at bank and in hand | 54/58 | €9,593 | €7,812 | -€1,781 | -18.6% |
| Deferred charges and accrued income | 490/1 | €689 | €813 | +€124 | +18.1% |
| Total equity and liabilities | 10/49 | €40,919 | €48,418 | +€7,499 | +18.3% |
| Equity | 10/15 | €26,663 | €25,176 | -€1,486 | -5.6% |
| Contributions | 10/11 | €8,676 | €8,676 | = | 0.0% |
| Reserves | 13 | €17,986 | €16,500 | -€1,486 | -8.3% |
| Distributable reserves | 133 | €17,986 | €16,500 | -€1,486 | -8.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €14,257 | €23,241 | +€8,985 | +63.0% |
| Amounts payable within one year | 42/48 | €14,192 | €23,241 | +€9,050 | +63.8% |
| Financial debts | 43 | - | €12 | +€12 | |
| Credit institutions | 430/8 | - | €12 | +€12 | |
| Trade debts | 44 | €2,061 | €6,824 | +€4,762 | +231.0% |
| Suppliers | 440/4 | €2,061 | €6,824 | +€4,762 | +231.0% |
| Advances received on contracts in progress | 46 | €1,400 | €0 | -€1,400 | -100.0% |
| Taxes, remuneration and social security | 45 | €3,230 | €1,514 | -€1,716 | -53.1% |
| Taxes | 450/3 | €1,734 | €0 | -€1,734 | -100.0% |
| Remuneration and social security | 454/9 | €1,496 | €1,514 | +€18 | +1.2% |
| Other amounts payable | 47/48 | €7,500 | €14,891 | +€7,391 | +98.6% |
| Accrued charges and deferred income | 492/3 | €65 | €0 | -€65 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €21,359 | +€21,359 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,656 | €4,786 | -€2,869 | -37.5% |
| Other operating charges | 640/8 | €1,602 | €1,138 | -€464 | -29.0% |
| Gross operating margin | 9900 | €23,149 | €47,377 | +€24,228 | +104.7% |
| Operating profit (loss) | 9901 | €13,891 | €20,095 | +€6,203 | +44.7% |
| Financial income | 75/76B | €1 | €3 | +€2 | +297.5% |
| Recurring financial income | 75 | €1 | €3 | +€2 | +297.5% |
| Financial charges | 65/66B | €831 | €591 | -€240 | -28.9% |
| Recurring financial charges | 65 | €831 | €591 | -€240 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €13,061 | €19,507 | +€6,446 | +49.4% |
| Income taxes | 67/77 | €4,373 | €6,101 | +€1,729 | +39.5% |
| Profit (loss) for the period | 9904 | €8,688 | €13,405 | +€4,717 | +54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,688 | €13,405 | +€4,717 | +54.3% |
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 11 October 2026 via checked.be.