P17: 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.
P17
Largest movements
- Cash +€6,889
up €6,889 (+46.8%), from €14,713 to €21,602
mainly Net result for the year (+€2,736) and Depreciation (+€2,456)
- Receivables within one year +€2,523
up €2,523 (+1628.4%), from €155 to €2,678
of which Other amounts receivable: +€1,336
- Tangible fixed assets -€2,214
down €2,214 (-30.9%), from €7,164 to €4,950
- Deferred charges and accrued income -€1,124
no longer reported in 2025 (was €1,124)
- Reserves +€2,730
up €2,730 (+13.8%), from €19,809 to €22,539
- Other debts +€1,368
up €1,368 (+657.0%), from €208 to €1,576
- Tax, wage and social debts +€1,068
up €1,068 (+154.0%), from €693 to €1,762
- Trade debts +€660
up €660 (+600.3%), from €110 to €770
- Gross operating margin -€8,237
down €8,237 (-52.7%), from €15,639 to €7,402
- Taxes -€1,869
down €1,869 (-52.9%), from €3,534 to €1,664
- Staff costs -€614
no longer reported in 2025 (was €614)
- Other operating charges +€400
new in 2025: €400
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 | €23,823 | €29,655 | +€5,832 | +24.5% |
| Formation expenses | 20 | €667 | €425 | -€242 | -36.2% |
| Fixed assets | 21/28 | €7,164 | €4,950 | -€2,214 | -30.9% |
| Tangible fixed assets | 22/27 | €7,164 | €4,950 | -€2,214 | -30.9% |
| Furniture and vehicles | 24 | €7,164 | €4,950 | -€2,214 | -30.9% |
| Current assets | 29/58 | €15,992 | €24,280 | +€8,288 | +51.8% |
| Amounts receivable within one year | 40/41 | €155 | €2,678 | +€2,523 | +1628.4% |
| Trade receivables | 40 | €155 | €1,343 | +€1,188 | +766.5% |
| Other amounts receivable | 41 | - | €1,336 | +€1,336 | |
| Cash at bank and in hand | 54/58 | €14,713 | €21,602 | +€6,889 | +46.8% |
| Deferred charges and accrued income | 490/1 | €1,124 | - | -€1,124 | |
| Total equity and liabilities | 10/49 | €23,823 | €29,655 | +€5,832 | +24.5% |
| Equity | 10/15 | €22,811 | €25,547 | +€2,736 | +12.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €19,809 | €22,539 | +€2,730 | +13.8% |
| Distributable reserves | 133 | €19,809 | €22,539 | +€2,730 | +13.8% |
| Profit (loss) carried forward | 14 | €2 | €8 | +€6 | +277.5% |
| Amounts payable | 17/49 | €1,012 | €4,108 | +€3,096 | +306.1% |
| Amounts payable within one year | 42/48 | €1,012 | €4,108 | +€3,096 | +306.1% |
| Trade debts | 44 | €110 | €770 | +€660 | +600.3% |
| Suppliers | 440/4 | €110 | €770 | +€660 | +600.3% |
| Taxes, remuneration and social security | 45 | €693 | €1,762 | +€1,068 | +154.0% |
| Taxes | 450/3 | €693 | €1,762 | +€1,068 | +154.0% |
| Other amounts payable | 47/48 | €208 | €1,576 | +€1,368 | +657.0% |
| Remuneration, social security and pensions | 62 | €614 | - | -€614 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,464 | €2,456 | -€9 | -0.4% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Non-recurring operating charges | 66A | - | -€2 | -€2 | |
| Gross operating margin | 9900 | €15,639 | €7,402 | -€8,237 | -52.7% |
| Operating profit (loss) | 9901 | €12,560 | €4,549 | -€8,012 | -63.8% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €12,425 | €4,401 | -€8,025 | -64.6% |
| Income taxes | 67/77 | €3,534 | €1,664 | -€1,869 | -52.9% |
| Profit (loss) for the period | 9904 | €8,892 | €2,736 | -€6,156 | -69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,892 | €2,736 | -€6,156 | -69.2% |
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.