Objectivum: 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.
Objectivum
Largest movements
- Receivables within one year +€22,405
up €22,405 (+333%), from €6,730 to €29,135
of which Trade receivables: +€26,365
- Cash +€10,116
up €10,116 (+23.9%), from €42,346 to €52,462
mainly Net result for the year (+€30,334) and Tax, wage and social debts (+€2,558)
- Tangible fixed assets +€1,766
up €1,766 (+48.9%), from €3,614 to €5,380
of which Other tangible fixed assets: +€2,617
- Reserves +€30,334
up €30,334 (+73.7%), from €41,159 to €71,492
- Tax, wage and social debts +€2,558
up €2,558 (+22.5%), from €11,350 to €13,908
- Trade debts +€1,120
up €1,120 (+620%), from €181 to €1,301
- Taxes +€3,560
up €3,560 (+75.2%), from €4,733 to €8,293
- Gross operating margin -€1,629
down €1,629 (-3.8%), from €42,521 to €40,892
- Financial income -€1,545
no longer reported in 2025 (was €1,545)
- Depreciation -€1,074
down €1,074 (-36.7%), from €2,926 to €1,851
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 | €52,690 | €87,432 | +€34,742 | +65.9% |
| Fixed assets | 21/28 | €3,614 | €5,380 | +€1,766 | +48.9% |
| Tangible fixed assets | 22/27 | €3,614 | €5,380 | +€1,766 | +48.9% |
| Plant, machinery and equipment | 23 | €3,614 | €2,763 | -€852 | -23.6% |
| Other tangible fixed assets | 26 | - | €2,617 | +€2,617 | |
| Current assets | 29/58 | €49,076 | €82,052 | +€32,976 | +67.2% |
| Amounts receivable within one year | 40/41 | €6,730 | €29,135 | +€22,405 | +333% |
| Trade receivables | 40 | - | €26,365 | +€26,365 | |
| Other amounts receivable | 41 | €6,730 | €2,769 | -€3,961 | -58.9% |
| Cash at bank and in hand | 54/58 | €42,346 | €52,462 | +€10,116 | +23.9% |
| Deferred charges and accrued income | 490/1 | - | €456 | +€456 | |
| Total equity and liabilities | 10/49 | €52,690 | €87,432 | +€34,742 | +65.9% |
| Equity | 10/15 | €41,160 | €71,493 | +€30,334 | +73.7% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €41,159 | €71,492 | +€30,334 | +73.7% |
| Distributable reserves | 133 | €41,159 | €71,492 | +€30,334 | +73.7% |
| Amounts payable | 17/49 | €11,531 | €15,939 | +€4,408 | +38.2% |
| Amounts payable within one year | 42/48 | €11,531 | €15,939 | +€4,408 | +38.2% |
| Trade debts | 44 | €181 | €1,301 | +€1,120 | +620% |
| Suppliers | 440/4 | €181 | €1,301 | +€1,120 | +620% |
| Taxes, remuneration and social security | 45 | €11,350 | €13,908 | +€2,558 | +22.5% |
| Taxes | 450/3 | €11,350 | €13,908 | +€2,558 | +22.5% |
| Other amounts payable | 47/48 | - | €730 | +€730 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,926 | €1,851 | -€1,074 | -36.7% |
| Other operating charges | 640/8 | - | €7 | +€7 | |
| Gross operating margin | 9900 | €42,521 | €40,892 | -€1,629 | -3.8% |
| Operating profit (loss) | 9901 | €39,596 | €39,034 | -€562 | -1.4% |
| Financial income | 75/76B | €1,545 | - | -€1,545 | |
| Recurring financial income | 75 | €1,545 | - | -€1,545 | |
| Financial charges | 65/66B | €532 | €407 | -€125 | -23.5% |
| Recurring financial charges | 65 | €532 | €407 | -€125 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €40,610 | €38,627 | -€1,983 | -4.9% |
| Income taxes | 67/77 | €4,733 | €8,293 | +€3,560 | +75.2% |
| Profit (loss) for the period | 9904 | €35,877 | €30,334 | -€5,543 | -15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,877 | €30,334 | -€5,543 | -15.5% |
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 15 October 2026 via checked.be.