ON THE PIC: 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.
ON THE PIC
Largest movements
- Cash +€666,893
up €666,893 (+832%), from €80,132 to €747,026
mainly Other debts (+€473,890) and Current investments (+€400,000)
- Current investments -€400,000
down €400,000 (-100%), from €400,000 to €0
- Deferred charges and accrued income -€39,720
down €39,720 (-20.2%), from €196,342 to €156,622
- Intangible fixed assets -€20,000
down €20,000 (-14.3%), from €140,000 to €120,000
- Other debts +€473,890
up €473,890 (+609%), from €77,816 to €551,706
- Profit (loss) carried forward -€223,139
down €223,139 (-100%), from €223,139 to €0
- Debts after one year -€28,773
down €28,773 (-31.3%), from €91,971 to €63,198
- Tax, wage and social debts -€21,046
down €21,046 (-27.7%), from €75,957 to €54,912
of which Taxes: -€23,546
- Gross operating margin +€54,883
up €54,883 (+14.6%), from €376,347 to €431,230
- Financial charges +€19,816
up €19,816 (+32.5%), from €61,004 to €80,820
- Taxes +€9,925
up €9,925 (+13.9%), from €71,251 to €81,176
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 | €832,477 | €1,034,692 | +€202,214 | +24.3% |
| Fixed assets | 21/28 | €153,363 | €131,044 | -€22,319 | -14.6% |
| Intangible fixed assets | 21 | €140,000 | €120,000 | -€20,000 | -14.3% |
| Tangible fixed assets | 22/27 | €13,363 | €11,044 | -€2,319 | -17.4% |
| Land and buildings | 22 | €9,798 | €9,106 | -€692 | -7.1% |
| Furniture and vehicles | 24 | €3,564 | €1,937 | -€1,627 | -45.6% |
| Current assets | 29/58 | €679,115 | €903,648 | +€224,533 | +33.1% |
| Amounts receivable within one year | 40/41 | €2,640 | €0 | -€2,640 | -100% |
| Trade receivables | 40 | €2,640 | €0 | -€2,640 | -100% |
| Current investments | 50/53 | €400,000 | €0 | -€400,000 | -100% |
| Cash at bank and in hand | 54/58 | €80,132 | €747,026 | +€666,893 | +832% |
| Deferred charges and accrued income | 490/1 | €196,342 | €156,622 | -€39,720 | -20.2% |
| Total equity and liabilities | 10/49 | €832,477 | €1,034,692 | +€202,214 | +24.3% |
| Equity | 10/15 | €557,728 | €334,589 | -€223,139 | -40.0% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €331,089 | €331,089 | = | 0.0% |
| Distributable reserves | 133 | €331,089 | €331,089 | = | 0.0% |
| Profit (loss) carried forward | 14 | €223,139 | €0 | -€223,139 | -100% |
| Amounts payable | 17/49 | €274,749 | €700,102 | +€425,353 | +155% |
| Amounts payable after more than one year | 17 | €91,971 | €63,198 | -€28,773 | -31.3% |
| Financial debts | 170/4 | €91,971 | €63,198 | -€28,773 | -31.3% |
| Amounts payable within one year | 42/48 | €182,778 | €636,904 | +€454,126 | +248% |
| Current portion of amounts payable after more than one year | 42 | €28,526 | €28,773 | +€247 | +0.9% |
| Trade debts | 44 | €478 | €1,513 | +€1,035 | +217% |
| Suppliers | 440/4 | €478 | €1,513 | +€1,035 | +217% |
| Taxes, remuneration and social security | 45 | €75,957 | €54,912 | -€21,046 | -27.7% |
| Taxes | 450/3 | €75,957 | €52,412 | -€23,546 | -31.0% |
| Remuneration and social security | 454/9 | €0 | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €77,816 | €551,706 | +€473,890 | +609% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,540 | €22,319 | +€779 | +3.6% |
| Other operating charges | 640/8 | €1,253 | €1,518 | +€266 | +21.2% |
| Gross operating margin | 9900 | €376,347 | €431,230 | +€54,883 | +14.6% |
| Operating profit (loss) | 9901 | €353,554 | €407,393 | +€53,839 | +15.2% |
| Financial income | 75/76B | €2,672 | €6,866 | +€4,194 | +157% |
| Recurring financial income | 75 | €2,672 | €6,866 | +€4,194 | +157% |
| Financial charges | 65/66B | €61,004 | €80,820 | +€19,816 | +32.5% |
| Recurring financial charges | 65 | €61,004 | €80,820 | +€19,816 | +32.5% |
| Profit (loss) for the period before taxes | 9903 | €295,222 | €333,438 | +€38,216 | +12.9% |
| Income taxes | 67/77 | €71,251 | €81,176 | +€9,925 | +13.9% |
| Profit (loss) for the period | 9904 | €223,972 | €252,263 | +€28,291 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €223,972 | €252,263 | +€28,291 | +12.6% |
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 31 October 2026 via checked.be.