PART: 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.
PART
Largest movements
- Cash +€8,534
up €8,534 (+387.2%), from €2,204 to €10,739
mainly Net result for the year (+€12,231) and Depreciation (+€5,372)
- Tangible fixed assets -€5,372
down €5,372 (-10.5%), from €51,022 to €45,651
- Stocks and contracts -€1,982
no longer reported in 2025 (was €1,982)
- Receivables within one year -€1,775
down €1,775 (-28.5%), from €6,223 to €4,447
of which Trade receivables: -€1,578
- Other debts -€11,241
down €11,241 (-81.4%), from €13,808 to €2,567
- Profit (loss) carried forward +€10,984
no longer reported in 2025 (was -€10,984)
- Debts after one year -€3,279
down €3,279 (-10.7%), from €30,519 to €27,240
- Reserves +€1,247
new in 2025: €1,247
- Tax, wage and social debts +€807
up €807 (+131.5%), from €613 to €1,420
- Gross operating margin +€2,147
up €2,147 (+12.5%), from €17,183 to €19,330
- Depreciation +€1,047
up €1,047 (+24.2%), from €4,325 to €5,372
- Taxes +€251
up €251 (+37520.9%), from €1 to €252
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 | €61,768 | €60,837 | -€931 | -1.5% |
| Fixed assets | 21/28 | €51,022 | €45,651 | -€5,372 | -10.5% |
| Tangible fixed assets | 22/27 | €51,022 | €45,651 | -€5,372 | -10.5% |
| Plant, machinery and equipment | 23 | €4,119 | €2,082 | -€2,037 | -49.5% |
| Furniture and vehicles | 24 | €2,522 | €1,612 | -€910 | -36.1% |
| Other tangible fixed assets | 26 | €44,381 | €41,956 | -€2,425 | -5.5% |
| Current assets | 29/58 | €10,746 | €15,186 | +€4,441 | +41.3% |
| Stocks and contracts in progress | 3 | €1,982 | - | -€1,982 | |
| Stocks | 30/36 | €1,982 | - | -€1,982 | |
| Amounts receivable within one year | 40/41 | €6,223 | €4,447 | -€1,775 | -28.5% |
| Trade receivables | 40 | €6,007 | €4,429 | -€1,578 | -26.3% |
| Other amounts receivable | 41 | €216 | €19 | -€197 | -91.2% |
| Cash at bank and in hand | 54/58 | €2,204 | €10,739 | +€8,534 | +387.2% |
| Deferred charges and accrued income | 490/1 | €337 | - | -€337 | |
| Total equity and liabilities | 10/49 | €61,768 | €60,837 | -€931 | -1.5% |
| Equity | 10/15 | €13,616 | €25,847 | +€12,231 | +89.8% |
| Contributions | 10/11 | €24,600 | €24,600 | = | 0.0% |
| Reserves | 13 | - | €1,247 | +€1,247 | |
| Distributable reserves | 133 | - | €1,247 | +€1,247 | |
| Profit (loss) carried forward | 14 | -€10,984 | - | +€10,984 | |
| Amounts payable | 17/49 | €48,151 | €34,989 | -€13,162 | -27.3% |
| Amounts payable after more than one year | 17 | €30,519 | €27,240 | -€3,279 | -10.7% |
| Financial debts | 170/4 | €30,519 | €27,240 | -€3,279 | -10.7% |
| Amounts payable within one year | 42/48 | €17,632 | €7,749 | -€9,883 | -56.1% |
| Current portion of amounts payable after more than one year | 42 | €3,211 | €3,279 | +€68 | +2.1% |
| Trade debts | 44 | - | €483 | +€483 | |
| Suppliers | 440/4 | - | €483 | +€483 | |
| Taxes, remuneration and social security | 45 | €613 | €1,420 | +€807 | +131.5% |
| Taxes | 450/3 | €613 | €1,420 | +€807 | +131.5% |
| Other amounts payable | 47/48 | €13,808 | €2,567 | -€11,241 | -81.4% |
| Non-recurring operating income | 76A | - | €3,500 | +€3,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,325 | €5,372 | +€1,047 | +24.2% |
| Other operating charges | 640/8 | €726 | €746 | +€20 | +2.8% |
| Gross operating margin | 9900 | €17,183 | €19,330 | +€2,147 | +12.5% |
| Operating profit (loss) | 9901 | €12,132 | €13,212 | +€1,080 | +8.9% |
| Financial income | 75/76B | €7 | €145 | +€138 | +2021.5% |
| Recurring financial income | 75 | €7 | €145 | +€138 | +2021.5% |
| Financial charges | 65/66B | €928 | €874 | -€54 | -5.9% |
| Recurring financial charges | 65 | €928 | €874 | -€54 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €11,211 | €12,483 | +€1,273 | +11.4% |
| Income taxes | 67/77 | €1 | €252 | +€251 | +37520.9% |
| Profit (loss) for the period | 9904 | €11,210 | €12,231 | +€1,021 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,210 | €12,231 | +€1,021 | +9.1% |
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 8 October 2026 via checked.be.