p41e: 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.
p41e
Largest movements
- Tangible fixed assets -€20,970
down €20,970 (-27.8%), from €75,512 to €54,542
of which Furniture and vehicles: -€16,152
- Cash +€20,490
up €20,490 (+60.3%), from €33,999 to €54,489
mainly Depreciation (+€20,970) and Net result for the year (+€16,513)
- Receivables within one year +€10,500
up €10,500 (+109.6%), from €9,580 to €20,080
- Profit (loss) carried forward +€16,513
up €16,513 (+34.3%), from €48,117 to €64,630
- Other debts -€13,340
down €13,340 (-29.9%), from €44,592 to €31,253
- Trade debts +€11,795
new in 2025: €11,795
- Tax, wage and social debts -€4,241
down €4,241 (-33.8%), from €12,532 to €8,290
- Depreciation -€10,512
down €10,512 (-33.4%), from €31,482 to €20,970
- Gross operating margin +€6,548
up €6,548 (+17.5%), from €37,369 to €43,917
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 | €120,241 | €130,968 | +€10,727 | +8.9% |
| Fixed assets | 21/28 | €75,512 | €54,542 | -€20,970 | -27.8% |
| Tangible fixed assets | 22/27 | €75,512 | €54,542 | -€20,970 | -27.8% |
| Land and buildings | 22 | €38,458 | €33,811 | -€4,647 | -12.1% |
| Plant, machinery and equipment | 23 | €624 | €452 | -€172 | -27.5% |
| Furniture and vehicles | 24 | €36,430 | €20,278 | -€16,152 | -44.3% |
| Current assets | 29/58 | €44,729 | €76,427 | +€31,698 | +70.9% |
| Amounts receivable within one year | 40/41 | €9,580 | €20,080 | +€10,500 | +109.6% |
| Trade receivables | 40 | €9,580 | €20,080 | +€10,500 | +109.6% |
| Cash at bank and in hand | 54/58 | €33,999 | €54,489 | +€20,490 | +60.3% |
| Deferred charges and accrued income | 490/1 | €1,150 | €1,857 | +€707 | +61.5% |
| Total equity and liabilities | 10/49 | €120,241 | €130,968 | +€10,727 | +8.9% |
| Equity | 10/15 | €63,117 | €79,630 | +€16,513 | +26.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,117 | €64,630 | +€16,513 | +34.3% |
| Amounts payable | 17/49 | €57,124 | €51,338 | -€5,786 | -10.1% |
| Amounts payable within one year | 42/48 | €57,124 | €51,338 | -€5,786 | -10.1% |
| Trade debts | 44 | - | €11,795 | +€11,795 | |
| Suppliers | 440/4 | - | €11,795 | +€11,795 | |
| Taxes, remuneration and social security | 45 | €12,532 | €8,290 | -€4,241 | -33.8% |
| Taxes | 450/3 | €12,532 | €8,290 | -€4,241 | -33.8% |
| Other amounts payable | 47/48 | €44,592 | €31,253 | -€13,340 | -29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,482 | €20,970 | -€10,512 | -33.4% |
| Other operating charges | 640/8 | €387 | €404 | +€17 | +4.3% |
| Gross operating margin | 9900 | €37,369 | €43,917 | +€6,548 | +17.5% |
| Operating profit (loss) | 9901 | €5,499 | €22,543 | +€17,043 | +309.9% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €203 | €170 | -€33 | -16.2% |
| Recurring financial charges | 65 | €203 | €170 | -€33 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €5,296 | €22,373 | +€17,077 | +322.4% |
| Income taxes | 67/77 | €5,666 | €5,860 | +€194 | +3.4% |
| Profit (loss) for the period | 9904 | -€369 | €16,513 | +€16,883 | |
| Profit (loss) for the period to be appropriated | 9905 | -€369 | €16,513 | +€16,883 |
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 3 October 2026 via checked.be.