PAGES: 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.
PAGES
Largest movements
- Current investments -€40,000
no longer reported in 2025 (was €40,000)
- Cash +€12,068
up €12,068 (+22.7%), from €53,252 to €65,320
mainly Net result for the year (+€46,957) and Current investments (+€40,000)
- Tangible fixed assets +€3,060
up €3,060 (+69.5%), from €4,401 to €7,460
of which Furniture and vehicles: +€3,268
- Other debts -€46,429
no longer reported in 2025 (was €46,429)
- Reserves +€31,957
up €31,957 (+48.8%), from €65,429 to €97,385
- Tax, wage and social debts -€6,991
down €6,991 (-44.2%), from €15,830 to €8,839
- Short-term financial debts -€2,493
down €2,493 (-49.7%), from €5,016 to €2,523
- Taxes +€5,422
up €5,422 (+31.0%), from €17,511 to €22,933
- Gross operating margin +€3,375
up €3,375 (+4.8%), from €69,696 to €73,071
- Financial income +€759
new in 2025: €759
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 | €151,572 | €127,351 | -€24,221 | -16.0% |
| Fixed assets | 21/28 | €4,401 | €7,460 | +€3,060 | +69.5% |
| Tangible fixed assets | 22/27 | €4,401 | €7,460 | +€3,060 | +69.5% |
| Plant, machinery and equipment | 23 | €1,676 | €1,468 | -€208 | -12.4% |
| Furniture and vehicles | 24 | €2,725 | €5,992 | +€3,268 | +119.9% |
| Current assets | 29/58 | €147,171 | €119,890 | -€27,281 | -18.5% |
| Amounts receivable within one year | 40/41 | €53,920 | €54,571 | +€651 | +1.2% |
| Trade receivables | 40 | €13,994 | €11,681 | -€2,313 | -16.5% |
| Other amounts receivable | 41 | €39,925 | €42,890 | +€2,964 | +7.4% |
| Current investments | 50/53 | €40,000 | - | -€40,000 | |
| Cash at bank and in hand | 54/58 | €53,252 | €65,320 | +€12,068 | +22.7% |
| Total equity and liabilities | 10/49 | €151,572 | €127,351 | -€24,221 | -16.0% |
| Equity | 10/15 | €84,021 | €115,977 | +€31,957 | +38.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €65,429 | €97,385 | +€31,957 | +48.8% |
| Distributable reserves | 133 | €65,429 | €97,385 | +€31,957 | +48.8% |
| Amounts payable | 17/49 | €67,551 | €11,374 | -€56,178 | -83.2% |
| Amounts payable within one year | 42/48 | €67,275 | €11,362 | -€55,913 | -83.1% |
| Financial debts | 43 | €5,016 | €2,523 | -€2,493 | -49.7% |
| Credit institutions | 430/8 | €5,016 | €2,523 | -€2,493 | -49.7% |
| Taxes, remuneration and social security | 45 | €15,830 | €8,839 | -€6,991 | -44.2% |
| Taxes | 450/3 | €15,830 | €8,839 | -€6,991 | -44.2% |
| Other amounts payable | 47/48 | €46,429 | - | -€46,429 | |
| Accrued charges and deferred income | 492/3 | €276 | €11 | -€265 | -95.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,851 | €2,404 | +€553 | +29.9% |
| Other operating charges | 640/8 | €505 | €1,096 | +€591 | +116.9% |
| Gross operating margin | 9900 | €69,696 | €73,071 | +€3,375 | +4.8% |
| Operating profit (loss) | 9901 | €67,340 | €69,571 | +€2,231 | +3.3% |
| Financial income | 75/76B | - | €759 | +€759 | |
| Recurring financial income | 75 | - | €759 | +€759 | |
| Financial charges | 65/66B | €342 | €440 | +€98 | +28.7% |
| Recurring financial charges | 65 | €342 | €440 | +€98 | +28.7% |
| Profit (loss) for the period before taxes | 9903 | €66,998 | €69,890 | +€2,892 | +4.3% |
| Income taxes | 67/77 | €17,511 | €22,933 | +€5,422 | +31.0% |
| Profit (loss) for the period | 9904 | €49,487 | €46,957 | -€2,531 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €49,487 | €46,957 | -€2,531 | -5.1% |
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 11 October 2026 via checked.be.