OBJECTIIV: 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.
OBJECTIIV
Largest movements
- Cash +€59,477
up €59,477 (+15.4%), from €385,985 to €445,461
mainly Other debts (+€151,954) and Net result for the year (+€93,959)
- Receivables within one year +€26,502
up €26,502 (+138.4%), from €19,150 to €45,652
of which Other amounts receivable: +€19,130
- Other debts +€151,954
up €151,954 (+256.3%), from €59,287 to €211,241
- Reserves -€77,380
down €77,380 (-23.3%), from €331,795 to €254,415
- Tax, wage and social debts +€7,291
up €7,291 (+72.7%), from €10,022 to €17,312
- Gross operating margin +€15,319
up €15,319 (+12.3%), from €124,676 to €139,995
- Taxes +€4,416
up €4,416 (+12.9%), from €34,118 to €38,534
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 | €451,057 | €533,697 | +€82,640 | +18.3% |
| Fixed assets | 21/28 | €42,313 | €38,848 | -€3,465 | -8.2% |
| Tangible fixed assets | 22/27 | €17,313 | €13,848 | -€3,465 | -20.0% |
| Land and buildings | 22 | €439 | €2,671 | +€2,233 | +509.0% |
| Furniture and vehicles | 24 | €16,875 | €11,177 | -€5,698 | -33.8% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €408,744 | €494,849 | +€86,105 | +21.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €337 | €305 | -€32 | -9.4% |
| Stocks | 30/36 | €337 | €305 | -€32 | -9.4% |
| Amounts receivable within one year | 40/41 | €19,150 | €45,652 | +€26,502 | +138.4% |
| Trade receivables | 40 | €18,268 | €25,640 | +€7,372 | +40.4% |
| Other amounts receivable | 41 | €882 | €20,012 | +€19,130 | +2168.7% |
| Cash at bank and in hand | 54/58 | €385,985 | €445,461 | +€59,477 | +15.4% |
| Deferred charges and accrued income | 490/1 | €3,272 | €3,430 | +€159 | +4.8% |
| Total equity and liabilities | 10/49 | €451,057 | €533,697 | +€82,640 | +18.3% |
| Equity | 10/15 | €381,516 | €304,136 | -€77,380 | -20.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €331,795 | €254,415 | -€77,380 | -23.3% |
| Distributable reserves | 133 | €331,795 | €254,415 | -€77,380 | -23.3% |
| Profit (loss) carried forward | 14 | €43,521 | €43,521 | = | 0.0% |
| Amounts payable | 17/49 | €69,541 | €229,561 | +€160,020 | +230.1% |
| Amounts payable within one year | 42/48 | €69,541 | €229,561 | +€160,020 | +230.1% |
| Trade debts | 44 | €233 | €1,008 | +€775 | +333.4% |
| Suppliers | 440/4 | €233 | €1,008 | +€775 | +333.4% |
| Taxes, remuneration and social security | 45 | €10,022 | €17,312 | +€7,291 | +72.7% |
| Taxes | 450/3 | €10,022 | €17,312 | +€7,291 | +72.7% |
| Other amounts payable | 47/48 | €59,287 | €211,241 | +€151,954 | +256.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,377 | €6,361 | +€984 | +18.3% |
| Other operating charges | 640/8 | €1,238 | €854 | -€384 | -31.0% |
| Gross operating margin | 9900 | €124,676 | €139,995 | +€15,319 | +12.3% |
| Operating profit (loss) | 9901 | €118,062 | €132,780 | +€14,719 | +12.5% |
| Financial income | 75/76B | €521 | €0 | -€521 | -100.0% |
| Recurring financial income | 75 | €521 | €0 | -€521 | -100.0% |
| Financial charges | 65/66B | €183 | €287 | +€105 | +57.2% |
| Recurring financial charges | 65 | €183 | €287 | +€105 | +57.2% |
| Profit (loss) for the period before taxes | 9903 | €118,400 | €132,493 | +€14,093 | +11.9% |
| Income taxes | 67/77 | €34,118 | €38,534 | +€4,416 | +12.9% |
| Profit (loss) for the period | 9904 | €84,282 | €93,959 | +€9,678 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €84,282 | €93,959 | +€9,678 | +11.5% |
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.