Northbound: 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.
Northbound
Largest movements
- Tangible fixed assets +€15,897
new in 2025: €15,897
- Receivables within one year +€8,486
up €8,486 (+3425.7%), from €248 to €8,734
of which Trade receivables: +€7,307
- Cash +€5,089
new in 2025: €5,089
mainly Net result for the year (+€17,513) and Debts after one year (+€8,998)
- Profit (loss) carried forward +€17,513
up €17,513 (+89.2%), from -€19,627 to -€2,114
- Debts after one year +€8,998
new in 2025: €8,998
- Other debts -€6,288
down €6,288 (-95.1%), from €6,612 to €323
- Current portion of long-term debt +€4,721
new in 2025: €4,721
- Trade debts +€4,253
up €4,253 (+386.7%), from €1,100 to €5,353
- Gross operating margin +€21,871
up €21,871, from -€1,515 to €20,357
- Depreciation +€1,458
new in 2025: €1,458
- Financial charges +€315
up €315 (+177.7%), from €177 to €492
- Taxes +€275
new in 2025: €275
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 | €248 | €29,720 | +€29,472 | +11897.8% |
| Fixed assets | 21/28 | - | €15,897 | +€15,897 | |
| Tangible fixed assets | 22/27 | - | €15,897 | +€15,897 | |
| Furniture and vehicles | 24 | - | €15,897 | +€15,897 | |
| Current assets | 29/58 | €248 | €13,823 | +€13,575 | +5480.2% |
| Amounts receivable within one year | 40/41 | €248 | €8,734 | +€8,486 | +3425.7% |
| Trade receivables | 40 | - | €7,307 | +€7,307 | |
| Other amounts receivable | 41 | €248 | €1,427 | +€1,179 | +476.0% |
| Cash at bank and in hand | 54/58 | - | €5,089 | +€5,089 | |
| Total equity and liabilities | 10/49 | €248 | €29,720 | +€29,472 | +11897.8% |
| Equity | 10/15 | -€7,464 | €10,049 | +€17,513 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €2,163 | €2,163 | = | 0.0% |
| Tax-exempt reserves | 132 | €303 | €303 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,627 | -€2,114 | +€17,513 | +89.2% |
| Amounts payable | 17/49 | €7,712 | €19,671 | +€11,960 | +155.1% |
| Amounts payable after more than one year | 17 | - | €8,998 | +€8,998 | |
| Financial debts | 170/4 | - | €8,998 | +€8,998 | |
| Amounts payable within one year | 42/48 | €7,712 | €10,673 | +€2,961 | +38.4% |
| Current portion of amounts payable after more than one year | 42 | - | €4,721 | +€4,721 | |
| Trade debts | 44 | €1,100 | €5,353 | +€4,253 | +386.7% |
| Suppliers | 440/4 | €1,100 | €5,353 | +€4,253 | +386.7% |
| Taxes, remuneration and social security | 45 | - | €275 | +€275 | |
| Taxes | 450/3 | - | €275 | +€275 | |
| Other amounts payable | 47/48 | €6,612 | €323 | -€6,288 | -95.1% |
| Non-recurring operating income | 76A | €782 | - | -€782 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,458 | +€1,458 | |
| Other operating charges | 640/8 | €606 | €620 | +€13 | +2.2% |
| Gross operating margin | 9900 | -€1,515 | €20,357 | +€21,871 | |
| Operating profit (loss) | 9901 | -€2,121 | €18,279 | +€20,400 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €177 | €492 | +€315 | +177.7% |
| Recurring financial charges | 65 | €177 | €492 | +€315 | +177.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,298 | €17,788 | +€20,086 | |
| Income taxes | 67/77 | - | €275 | +€275 | |
| Profit (loss) for the period | 9904 | -€2,298 | €17,513 | +€19,811 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,298 | €17,513 | +€19,811 |
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.