OBJECTIFY: 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.
OBJECTIFY
Largest movements
- Cash +€201,683
up €201,683 (+195%), from €103,186 to €304,870
mainly Receivables within one year (+€116,129) and Net result for the year (+€115,260)
- Receivables within one year -€116,129
down €116,129 (-69.9%), from €166,223 to €50,094
of which Trade receivables: -€81,675
- Reserves +€77,700
up €77,700 (+39.0%), from €199,310 to €277,010
of which Distributable reserves: +€77,700
- Tax, wage and social debts +€5,593
up €5,593 (+8.6%), from €65,115 to €70,708
- Gross operating margin +€16,596
up €16,596 (+11.4%), from €145,069 to €161,665
- Depreciation -€7,311
down €7,311 (-78.4%), from €9,322 to €2,011
- Taxes +€6,582
up €6,582 (+16.1%), from €40,907 to €47,488
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 | €272,671 | €356,975 | +€84,303 | +30.9% |
| Fixed assets | 21/28 | €2,920 | €1,387 | -€1,534 | -52.5% |
| Tangible fixed assets | 22/27 | €2,920 | €1,387 | -€1,534 | -52.5% |
| Furniture and vehicles | 24 | €2,920 | €1,387 | -€1,534 | -52.5% |
| Current assets | 29/58 | €269,751 | €355,588 | +€85,837 | +31.8% |
| Amounts receivable within one year | 40/41 | €166,223 | €50,094 | -€116,129 | -69.9% |
| Trade receivables | 40 | €81,675 | - | -€81,675 | |
| Other amounts receivable | 41 | €84,548 | €50,094 | -€34,454 | -40.8% |
| Cash at bank and in hand | 54/58 | €103,186 | €304,870 | +€201,683 | +195% |
| Deferred charges and accrued income | 490/1 | €341 | €624 | +€282 | +82.7% |
| Total equity and liabilities | 10/49 | €272,671 | €356,975 | +€84,303 | +30.9% |
| Equity | 10/15 | €205,623 | €283,350 | +€77,727 | +37.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €199,310 | €277,010 | +€77,700 | +39.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €197,450 | €275,150 | +€77,700 | +39.4% |
| Profit (loss) carried forward | 14 | €113 | €140 | +€27 | +23.6% |
| Amounts payable | 17/49 | €67,048 | €73,625 | +€6,577 | +9.8% |
| Amounts payable within one year | 42/48 | €66,143 | €72,719 | +€6,577 | +9.9% |
| Trade debts | 44 | €28 | €1,178 | +€1,150 | +4,082% |
| Suppliers | 440/4 | €28 | €1,178 | +€1,150 | +4,082% |
| Taxes, remuneration and social security | 45 | €65,115 | €70,708 | +€5,593 | +8.6% |
| Taxes | 450/3 | €65,115 | €70,708 | +€5,593 | +8.6% |
| Other amounts payable | 47/48 | €1,000 | €833 | -€167 | -16.7% |
| Accrued charges and deferred income | 492/3 | €906 | €906 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,322 | €2,011 | -€7,311 | -78.4% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €145,069 | €161,665 | +€16,596 | +11.4% |
| Operating profit (loss) | 9901 | €135,360 | €159,254 | +€23,894 | +17.7% |
| Financial income | 75/76B | €3,274 | €3,648 | +€375 | +11.4% |
| Recurring financial income | 75 | €3,274 | €3,648 | +€375 | +11.4% |
| Financial charges | 65/66B | €276 | €154 | -€122 | -44.2% |
| Recurring financial charges | 65 | €276 | €154 | -€122 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | €138,357 | €162,748 | +€24,391 | +17.6% |
| Income taxes | 67/77 | €40,907 | €47,488 | +€6,582 | +16.1% |
| Profit (loss) for the period | 9904 | €97,451 | €115,260 | +€17,809 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €97,451 | €115,260 | +€17,809 | +18.3% |
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 27 October 2026 via checked.be.