paradox: 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.
paradox
Largest movements
- Current investments +€19,198
up €19,198 (+30.8%), from €62,398 to €81,596
- Cash -€8,959
down €8,959 (-69.2%), from €12,955 to €3,996
mainly Current investments (-€19,198) and Current portion of long-term debt (-€8,947)
- Tangible fixed assets -€5,302
down €5,302 (-34.5%), from €15,381 to €10,079
- Deferred charges and accrued income -€1,184
down €1,184 (-13.7%), from €8,636 to €7,452
- Profit (loss) carried forward +€29,785
up €29,785 (+48009.3%), from €62 to €29,847
- Current portion of long-term debt -€8,947
down €8,947 (-100.0%), from €8,947 to €0
- Other debts -€8,939
down €8,939 (-22.6%), from €39,632 to €30,693
- Tax, wage and social debts -€5,913
down €5,913 (-14.9%), from €39,662 to €33,748
- Trade debts -€3,805
down €3,805 (-46.7%), from €8,155 to €4,350
- Gross operating margin +€15,743
up €15,743 (+40.1%), from €39,247 to €54,990
- Taxes +€5,022
up €5,022 (+51.2%), from €9,802 to €14,824
- Financial income -€604
down €604 (-27.4%), from €2,205 to €1,601
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 | €101,504 | €105,257 | +€3,752 | +3.7% |
| Fixed assets | 21/28 | €15,381 | €10,079 | -€5,302 | -34.5% |
| Tangible fixed assets | 22/27 | €15,381 | €10,079 | -€5,302 | -34.5% |
| Furniture and vehicles | 24 | €15,381 | €10,079 | -€5,302 | -34.5% |
| Current assets | 29/58 | €86,123 | €95,178 | +€9,055 | +10.5% |
| Amounts receivable within one year | 40/41 | €2,134 | €2,134 | = | 0.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,134 | €2,134 | = | 0.0% |
| Current investments | 50/53 | €62,398 | €81,596 | +€19,198 | +30.8% |
| Cash at bank and in hand | 54/58 | €12,955 | €3,996 | -€8,959 | -69.2% |
| Deferred charges and accrued income | 490/1 | €8,636 | €7,452 | -€1,184 | -13.7% |
| Total equity and liabilities | 10/49 | €101,504 | €105,257 | +€3,752 | +3.7% |
| Equity | 10/15 | €5,062 | €34,847 | +€29,785 | +588.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62 | €29,847 | +€29,785 | +48009.3% |
| Amounts payable | 17/49 | €96,442 | €70,410 | -€26,033 | -27.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €96,442 | €70,410 | -€26,033 | -27.0% |
| Current portion of amounts payable after more than one year | 42 | €8,947 | €0 | -€8,947 | -100.0% |
| Financial debts | 43 | €48 | €1,618 | +€1,571 | +3296.1% |
| Credit institutions | 430/8 | €48 | €1,618 | +€1,571 | +3296.1% |
| Trade debts | 44 | €8,155 | €4,350 | -€3,805 | -46.7% |
| Suppliers | 440/4 | €8,155 | €4,350 | -€3,805 | -46.7% |
| Taxes, remuneration and social security | 45 | €39,662 | €33,748 | -€5,913 | -14.9% |
| Taxes | 450/3 | €39,662 | €33,748 | -€5,913 | -14.9% |
| Other amounts payable | 47/48 | €39,632 | €30,693 | -€8,939 | -22.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,515 | €5,302 | -€213 | -3.9% |
| Other operating charges | 640/8 | €1,183 | €1,715 | +€532 | +44.9% |
| Gross operating margin | 9900 | €39,247 | €54,990 | +€15,743 | +40.1% |
| Operating profit (loss) | 9901 | €32,548 | €47,973 | +€15,425 | +47.4% |
| Financial income | 75/76B | €2,205 | €1,601 | -€604 | -27.4% |
| Recurring financial income | 75 | €2,205 | €1,601 | -€604 | -27.4% |
| Financial charges | 65/66B | €4,889 | €4,965 | +€76 | +1.6% |
| Recurring financial charges | 65 | €4,889 | €4,965 | +€76 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €29,864 | €44,609 | +€14,745 | +49.4% |
| Income taxes | 67/77 | €9,802 | €14,824 | +€5,022 | +51.2% |
| Profit (loss) for the period | 9904 | €20,062 | €29,785 | +€9,723 | +48.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,062 | €29,785 | +€9,723 | +48.5% |
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 5 October 2026 via checked.be.