OBJECTIVE VIEW: 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.
OBJECTIVE VIEW
Largest movements
- Receivables within one year +€31,109
up €31,109 (+161.4%), from €19,279 to €50,388
of which Trade receivables: +€27,795
- Tangible fixed assets +€28,971
up €28,971 (+3361.3%), from €862 to €29,833
- Cash -€5,387
down €5,387 (-96.7%), from €5,571 to €184
mainly Receivables within one year (-€31,109) and Investment in fixed assets (net) (-€31,040)
- Deferred charges and accrued income -€1,434
down €1,434 (-96.4%), from €1,488 to €54
- Profit (loss) carried forward +€25,273
up €25,273, from -€6,728 to €18,545
- Advances received +€18,517
up €18,517 (+252.4%), from €7,335 to €25,852
- Tax, wage and social debts +€9,177
up €9,177 (+21180.0%), from €43 to €9,221
- Other debts -€5,599
down €5,599 (-100.0%), from €5,599 to €0
- Trade debts +€5,492
up €5,492 (+53.3%), from €10,297 to €15,788
- Gross operating margin +€35,318
up €35,318 (+245.4%), from €14,390 to €49,708
- Taxes +€12,291
up €12,291 (+342.7%), from €3,587 to €15,877
- Other operating charges +€4,455
up €4,455 (+214.6%), from €2,076 to €6,531
- Depreciation +€1,684
up €1,684 (+436.2%), from €386 to €2,070
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 | €27,199 | €80,458 | +€53,259 | +195.8% |
| Fixed assets | 21/28 | €862 | €29,833 | +€28,971 | +3361.3% |
| Tangible fixed assets | 22/27 | €862 | €29,833 | +€28,971 | +3361.3% |
| Furniture and vehicles | 24 | €862 | €29,833 | +€28,971 | +3361.3% |
| Current assets | 29/58 | €26,337 | €50,626 | +€24,289 | +92.2% |
| Amounts receivable within one year | 40/41 | €19,279 | €50,388 | +€31,109 | +161.4% |
| Trade receivables | 40 | €19,279 | €47,074 | +€27,795 | +144.2% |
| Other amounts receivable | 41 | - | €3,314 | +€3,314 | |
| Cash at bank and in hand | 54/58 | €5,571 | €184 | -€5,387 | -96.7% |
| Deferred charges and accrued income | 490/1 | €1,488 | €54 | -€1,434 | -96.4% |
| Total equity and liabilities | 10/49 | €27,199 | €80,458 | +€53,259 | +195.8% |
| Equity | 10/15 | €3,925 | €29,198 | +€25,273 | +643.9% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €3,653 | €3,653 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,953 | €2,953 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,953 | €2,953 | = | 0.0% |
| Tax-exempt reserves | 132 | €700 | €700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,728 | €18,545 | +€25,273 | |
| Amounts payable | 17/49 | €23,274 | €51,260 | +€27,986 | +120.2% |
| Amounts payable within one year | 42/48 | €23,274 | €50,861 | +€27,587 | +118.5% |
| Trade debts | 44 | €10,297 | €15,788 | +€5,492 | +53.3% |
| Suppliers | 440/4 | €10,297 | €15,788 | +€5,492 | +53.3% |
| Advances received on contracts in progress | 46 | €7,335 | €25,852 | +€18,517 | +252.4% |
| Taxes, remuneration and social security | 45 | €43 | €9,221 | +€9,177 | +21180.0% |
| Taxes | 450/3 | €43 | €9,221 | +€9,177 | +21180.0% |
| Other amounts payable | 47/48 | €5,599 | €0 | -€5,599 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €386 | €2,070 | +€1,684 | +436.2% |
| Other operating charges | 640/8 | €2,076 | €6,531 | +€4,455 | +214.6% |
| Gross operating margin | 9900 | €14,390 | €49,708 | +€35,318 | +245.4% |
| Operating profit (loss) | 9901 | €11,928 | €41,107 | +€29,179 | +244.6% |
| Financial income | 75/76B | - | €81 | +€81 | |
| Recurring financial income | 75 | - | €81 | +€81 | |
| Financial charges | 65/66B | €128 | €38 | -€90 | -70.3% |
| Recurring financial charges | 65 | €128 | €38 | -€90 | -70.3% |
| Profit (loss) for the period before taxes | 9903 | €11,801 | €41,150 | +€29,350 | +248.7% |
| Income taxes | 67/77 | €3,587 | €15,877 | +€12,291 | +342.7% |
| Profit (loss) for the period | 9904 | €8,214 | €25,273 | +€17,059 | +207.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,214 | €25,273 | +€17,059 | +207.7% |
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 8 October 2026 via checked.be.