PASSION FOR MANAGEMENT: 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.
PASSION FOR MANAGEMENT
Largest movements
- Tangible fixed assets +€49,244
up €49,244 (+1,177%), from €4,183 to €53,427
of which Furniture and vehicles: +€45,516
- Receivables within one year -€21,554
down €21,554 (-37.8%), from €57,078 to €35,524
of which Other amounts receivable: -€27,133
- Cash +€7,386
up €7,386 (+3,423%), from €216 to €7,602
mainly Other debts (+€22,624) and Receivables within one year (+€21,554)
- Financial fixed assets -€3,690
down €3,690 (-100%), from €3,690 to €0
- Deferred charges and accrued income +€2,006
up €2,006 (+97.9%), from €2,050 to €4,056
- Other debts +€22,624
new in 2025: €22,624
- Reserves +€9,377
up €9,377 (+31.7%), from €29,592 to €38,969
- Current portion of long-term debt -€9,231
down €9,231 (-100%), from €9,231 to €0
- Tax, wage and social debts +€7,192
up €7,192 (+36.3%), from €19,833 to €27,025
of which Taxes: +€4,532
- Trade debts +€4,179
up €4,179 (+79.0%), from €5,291 to €9,470
- Gross operating margin +€30,036
up €30,036 (+95.5%), from €31,467 to €61,503
- Taxes +€7,942
up €7,942 (+115%), from €6,926 to €14,867
- Depreciation +€7,111
up €7,111 (+440%), from €1,616 to €8,727
- Financial charges +€3,068
up €3,068 (+53.7%), from €5,710 to €8,778
- Financial income -€1,385
down €1,385 (-98.8%), from €1,402 to €18
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.
Derived cash bridge
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 | €67,216 | €100,608 | +€33,392 | +49.7% |
| Fixed assets | 21/28 | €7,873 | €53,427 | +€45,554 | +579% |
| Tangible fixed assets | 22/27 | €4,183 | €53,427 | +€49,244 | +1,177% |
| Land and buildings | 22 | €2,797 | €2,445 | -€351 | -12.6% |
| Plant, machinery and equipment | 23 | - | €4,079 | +€4,079 | |
| Furniture and vehicles | 24 | €1,386 | €46,902 | +€45,516 | +3,284% |
| Financial fixed assets | 28 | €3,690 | €0 | -€3,690 | -100% |
| Current assets | 29/58 | €59,343 | €47,182 | -€12,162 | -20.5% |
| Amounts receivable within one year | 40/41 | €57,078 | €35,524 | -€21,554 | -37.8% |
| Trade receivables | 40 | €29,945 | €35,524 | +€5,579 | +18.6% |
| Other amounts receivable | 41 | €27,133 | €0 | -€27,133 | -100% |
| Cash at bank and in hand | 54/58 | €216 | €7,602 | +€7,386 | +3,423% |
| Deferred charges and accrued income | 490/1 | €2,050 | €4,056 | +€2,006 | +97.9% |
| Total equity and liabilities | 10/49 | €67,216 | €100,608 | +€33,392 | +49.7% |
| Equity | 10/15 | €32,092 | €41,469 | +€9,377 | +29.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €29,592 | €38,969 | +€9,377 | +31.7% |
| Distributable reserves | 133 | €29,592 | €38,969 | +€9,377 | +31.7% |
| Amounts payable | 17/49 | €35,124 | €59,140 | +€24,015 | +68.4% |
| Amounts payable after more than one year | 17 | €769 | €0 | -€769 | -100% |
| Financial debts | 170/4 | €769 | €0 | -€769 | -100% |
| Amounts payable within one year | 42/48 | €34,355 | €59,140 | +€24,785 | +72.1% |
| Current portion of amounts payable after more than one year | 42 | €9,231 | €0 | -€9,231 | -100% |
| Financial debts | 43 | €0 | €20 | +€20 | |
| Credit institutions | 430/8 | €0 | €20 | +€20 | |
| Trade debts | 44 | €5,291 | €9,470 | +€4,179 | +79.0% |
| Suppliers | 440/4 | €5,291 | €9,470 | +€4,179 | +79.0% |
| Taxes, remuneration and social security | 45 | €19,833 | €27,025 | +€7,192 | +36.3% |
| Taxes | 450/3 | €19,833 | €24,365 | +€4,532 | +22.8% |
| Remuneration and social security | 454/9 | - | €2,660 | +€2,660 | |
| Other amounts payable | 47/48 | - | €22,624 | +€22,624 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,616 | €8,727 | +€7,111 | +440% |
| Other operating charges | 640/8 | €2,642 | €1,890 | -€752 | -28.5% |
| Non-recurring operating charges | 66A | €1,520 | €17,881 | +€16,362 | +1,077% |
| Gross operating margin | 9900 | €31,467 | €61,503 | +€30,036 | +95.5% |
| Operating profit (loss) | 9901 | €25,688 | €33,004 | +€7,316 | +28.5% |
| Financial income | 75/76B | €1,402 | €18 | -€1,385 | -98.8% |
| Recurring financial income | 75 | €1,402 | €18 | -€1,385 | -98.8% |
| Financial charges | 65/66B | €5,710 | €8,778 | +€3,068 | +53.7% |
| Recurring financial charges | 65 | €5,710 | €8,778 | +€3,068 | +53.7% |
| Profit (loss) for the period before taxes | 9903 | €21,381 | €24,244 | +€2,863 | +13.4% |
| Income taxes | 67/77 | €6,926 | €14,867 | +€7,942 | +115% |
| Profit (loss) for the period | 9904 | €14,455 | €9,377 | -€5,079 | -35.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,455 | €9,377 | -€5,079 | -35.1% |
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 27 October 2026 via checked.be.