ON TRACK: 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.
ON TRACK
Largest movements
- Cash +€110,551
up €110,551 (+568.7%), from €19,438 to €129,989
mainly Advances received (+€155,569) and Depreciation (+€28,207)
- Receivables within one year +€43,424
new in 2025: €43,424
of which Trade receivables: +€39,311
- Receivables after one year -€15,000
down €15,000 (-16.1%), from €92,884 to €77,884
- Advances received +€155,569
new in 2025: €155,569
- Other debts -€14,217
no longer reported in 2025 (was €14,217)
- Trade debts +€7,596
up €7,596 (+1223.2%), from €621 to €8,217
- Profit (loss) carried forward -€4,913
down €4,913 (-3.5%), from €141,212 to €136,299
- Depreciation +€12,995
up €12,995 (+85.4%), from €15,212 to €28,207
- Gross operating margin +€7,418
up €7,418 (+28.2%), from €26,263 to €33,681
- Other operating charges +€1,193
up €1,193 (+83.5%), from €1,428 to €2,621
- Taxes -€1,146
down €1,146 (-15.3%), from €7,511 to €6,365
- Financial charges -€658
down €658 (-32.0%), from €2,059 to €1,401
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 | €170,353 | €311,630 | +€141,277 | +82.9% |
| Fixed assets | 21/28 | €58,031 | €60,333 | +€2,302 | +4.0% |
| Tangible fixed assets | 22/27 | €44,781 | €47,083 | +€2,302 | +5.1% |
| Plant, machinery and equipment | 23 | €44,781 | €47,083 | +€2,302 | +5.1% |
| Financial fixed assets | 28 | €13,250 | €13,250 | = | 0.0% |
| Current assets | 29/58 | €112,322 | €251,297 | +€138,975 | +123.7% |
| Amounts receivable after more than one year | 29 | €92,884 | €77,884 | -€15,000 | -16.1% |
| Other amounts receivable | 291 | €92,884 | €77,884 | -€15,000 | -16.1% |
| Amounts receivable within one year | 40/41 | - | €43,424 | +€43,424 | |
| Trade receivables | 40 | - | €39,311 | +€39,311 | |
| Other amounts receivable | 41 | - | €4,113 | +€4,113 | |
| Cash at bank and in hand | 54/58 | €19,438 | €129,989 | +€110,551 | +568.7% |
| Total equity and liabilities | 10/49 | €170,353 | €311,630 | +€141,277 | +82.9% |
| Equity | 10/15 | €149,272 | €144,359 | -€4,913 | -3.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €141,212 | €136,299 | -€4,913 | -3.5% |
| Amounts payable | 17/49 | €21,081 | €167,271 | +€146,190 | +693.5% |
| Amounts payable within one year | 42/48 | €21,081 | €167,271 | +€146,190 | +693.5% |
| Trade debts | 44 | €621 | €8,217 | +€7,596 | +1223.2% |
| Suppliers | 440/4 | €621 | €8,217 | +€7,596 | +1223.2% |
| Advances received on contracts in progress | 46 | - | €155,569 | +€155,569 | |
| Taxes, remuneration and social security | 45 | €6,243 | €3,485 | -€2,758 | -44.2% |
| Taxes | 450/3 | €6,243 | €3,485 | -€2,758 | -44.2% |
| Other amounts payable | 47/48 | €14,217 | - | -€14,217 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,212 | €28,207 | +€12,995 | +85.4% |
| Other operating charges | 640/8 | €1,428 | €2,621 | +€1,193 | +83.5% |
| Gross operating margin | 9900 | €26,263 | €33,681 | +€7,418 | +28.2% |
| Operating profit (loss) | 9901 | €9,623 | €2,853 | -€6,770 | -70.4% |
| Financial charges | 65/66B | €2,059 | €1,401 | -€658 | -32.0% |
| Recurring financial charges | 65 | €2,059 | €1,401 | -€658 | -32.0% |
| Profit (loss) for the period before taxes | 9903 | €7,564 | €1,452 | -€6,112 | -80.8% |
| Income taxes | 67/77 | €7,511 | €6,365 | -€1,146 | -15.3% |
| Profit (loss) for the period | 9904 | €53 | -€4,913 | -€4,966 | |
| Profit (loss) for the period to be appropriated | 9905 | €53 | -€4,913 | -€4,966 |
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 7 October 2026 via checked.be.