P & N: 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.
P & N
Largest movements
- Tangible fixed assets +€13,072
up €13,072 (+669%), from €1,955 to €15,027
of which Furniture and vehicles: +€14,050
- Cash +€1,808
up €1,808 (+18.8%), from €9,612 to €11,420
mainly Net result for the year (+€22,857) and Depreciation (+€3,457)
- Receivables after one year -€638
no longer reported in 2025 (was €638)
- Profit (loss) carried forward +€22,857
up €22,857 (+39.4%), from -€58,025 to -€35,168
- Other debts -€7,884
down €7,884 (-16.3%), from €48,419 to €40,535
- Trade debts -€731
no longer reported in 2025 (was €731)
- Gross operating margin +€27,476
up €27,476 (+4,618%), from €595 to €28,071
- Depreciation +€2,480
up €2,480 (+254%), from €977 to €3,457
- Other operating charges +€500
up €500 (+47.6%), from €1,050 to €1,550
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 | €12,205 | €26,447 | +€14,242 | +117% |
| Fixed assets | 21/28 | €1,955 | €15,027 | +€13,072 | +669% |
| Tangible fixed assets | 22/27 | €1,955 | €15,027 | +€13,072 | +669% |
| Plant, machinery and equipment | 23 | €1,955 | €977 | -€978 | -50.0% |
| Furniture and vehicles | 24 | - | €14,050 | +€14,050 | |
| Current assets | 29/58 | €10,250 | €11,420 | +€1,170 | +11.4% |
| Amounts receivable after more than one year | 29 | €638 | - | -€638 | |
| Trade receivables | 290 | €638 | - | -€638 | |
| Cash at bank and in hand | 54/58 | €9,612 | €11,420 | +€1,808 | +18.8% |
| Total equity and liabilities | 10/49 | €12,205 | €26,447 | +€14,242 | +117% |
| Equity | 10/15 | -€36,945 | -€14,088 | +€22,857 | +61.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,480 | €2,480 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,480 | €2,480 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,480 | €2,480 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,025 | -€35,168 | +€22,857 | +39.4% |
| Amounts payable | 17/49 | €49,150 | €40,535 | -€8,615 | -17.5% |
| Amounts payable within one year | 42/48 | €49,150 | €40,535 | -€8,615 | -17.5% |
| Trade debts | 44 | €731 | - | -€731 | |
| Suppliers | 440/4 | €731 | - | -€731 | |
| Other amounts payable | 47/48 | €48,419 | €40,535 | -€7,884 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €977 | €3,457 | +€2,480 | +254% |
| Other operating charges | 640/8 | €1,050 | €1,550 | +€500 | +47.6% |
| Gross operating margin | 9900 | €595 | €28,071 | +€27,476 | +4,618% |
| Operating profit (loss) | 9901 | -€1,432 | €23,064 | +€24,496 | |
| Financial charges | 65/66B | €240 | €207 | -€33 | -13.8% |
| Recurring financial charges | 65 | €240 | €207 | -€33 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,672 | €22,857 | +€24,529 | |
| Profit (loss) for the period | 9904 | -€1,672 | €22,857 | +€24,529 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,672 | €22,857 | +€24,529 |
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 24 October 2026 via checked.be.