NO LOGO CONCEPTS: 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.
NO LOGO CONCEPTS
Largest movements
- Cash +€57,331
up €57,331 (+28.6%), from €200,312 to €257,643
mainly Other debts (+€151,319) and Depreciation (+€47,939)
- Tangible fixed assets -€17,725
down €17,725 (-5.7%), from €312,693 to €294,968
of which Other tangible fixed assets: -€9,440
- Receivables within one year -€12,035
down €12,035 (-32.2%), from €37,424 to €25,389
of which Other amounts receivable: -€10,617
- Other debts +€151,319
up €151,319 (+8,861%), from €1,708 to €153,027
- Reserves -€133,839
down €133,839 (-26.5%), from €504,722 to €370,883
- Tax, wage and social debts +€11,068
up €11,068 (+41.7%), from €26,563 to €37,631
- Gross operating margin +€18,350
up €18,350 (+17.4%), from €105,669 to €124,019
- Depreciation +€9,014
up €9,014 (+23.2%), from €38,925 to €47,939
- Taxes +€2,740
up €2,740 (+13.9%), from €19,781 to €22,521
- Other operating charges +€1,436
up €1,436 (+26.3%), from €5,458 to €6,895
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 | €564,917 | €591,398 | +€26,481 | +4.7% |
| Fixed assets | 21/28 | €312,693 | €294,968 | -€17,725 | -5.7% |
| Tangible fixed assets | 22/27 | €312,693 | €294,968 | -€17,725 | -5.7% |
| Plant, machinery and equipment | 23 | €10,642 | €6,754 | -€3,888 | -36.5% |
| Furniture and vehicles | 24 | €88,613 | €84,216 | -€4,397 | -5.0% |
| Other tangible fixed assets | 26 | €213,439 | €203,999 | -€9,440 | -4.4% |
| Current assets | 29/58 | €252,224 | €296,430 | +€44,206 | +17.5% |
| Amounts receivable within one year | 40/41 | €37,424 | €25,389 | -€12,035 | -32.2% |
| Trade receivables | 40 | €26,807 | €25,389 | -€1,417 | -5.3% |
| Other amounts receivable | 41 | €10,617 | €0 | -€10,617 | -100% |
| Cash at bank and in hand | 54/58 | €200,312 | €257,643 | +€57,331 | +28.6% |
| Deferred charges and accrued income | 490/1 | €14,488 | €13,398 | -€1,091 | -7.5% |
| Total equity and liabilities | 10/49 | €564,917 | €591,398 | +€26,481 | +4.7% |
| Equity | 10/15 | €532,235 | €398,396 | -€133,839 | -25.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €504,722 | €370,883 | -€133,839 | -26.5% |
| Distributable reserves | 133 | €504,722 | €370,883 | -€133,839 | -26.5% |
| Profit (loss) carried forward | 14 | €21,313 | €21,313 | = | 0.0% |
| Amounts payable | 17/49 | €32,682 | €193,002 | +€160,320 | +491% |
| Amounts payable within one year | 42/48 | €32,682 | €193,002 | +€160,320 | +491% |
| Financial debts | 43 | €3,048 | €1,249 | -€1,799 | -59.0% |
| Credit institutions | 430/8 | €3,048 | €1,249 | -€1,799 | -59.0% |
| Trade debts | 44 | €1,364 | €1,095 | -€269 | -19.7% |
| Suppliers | 440/4 | €1,364 | €1,095 | -€269 | -19.7% |
| Taxes, remuneration and social security | 45 | €26,563 | €37,631 | +€11,068 | +41.7% |
| Taxes | 450/3 | €26,563 | €37,631 | +€11,068 | +41.7% |
| Other amounts payable | 47/48 | €1,708 | €153,027 | +€151,319 | +8,861% |
| Non-recurring operating income | 76A | - | €372 | +€372 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,925 | €47,939 | +€9,014 | +23.2% |
| Other operating charges | 640/8 | €5,458 | €6,895 | +€1,436 | +26.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €105,669 | €124,019 | +€18,350 | +17.4% |
| Operating profit (loss) | 9901 | €61,286 | €69,185 | +€7,899 | +12.9% |
| Financial income | 75/76B | - | €20 | +€20 | |
| Recurring financial income | 75 | - | €20 | +€20 | |
| Financial charges | 65/66B | €958 | €523 | -€434 | -45.3% |
| Recurring financial charges | 65 | €958 | €523 | -€434 | -45.3% |
| Profit (loss) for the period before taxes | 9903 | €60,329 | €68,682 | +€8,353 | +13.8% |
| Income taxes | 67/77 | €19,781 | €22,521 | +€2,740 | +13.9% |
| Profit (loss) for the period | 9904 | €40,547 | €46,161 | +€5,613 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,547 | €46,161 | +€5,613 | +13.8% |
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 22 October 2026 via checked.be.