PERFECT STORY: 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.
PERFECT STORY
Largest movements
- Cash +€44,766
up €44,766 (+138%), from €32,515 to €77,281
mainly Accrued charges and deferred income (+€54,209) and Net result for the year (+€49,101)
- Deferred charges and accrued income +€40,094
up €40,094 (+174%), from €23,051 to €63,145
- Receivables within one year +€28,479
up €28,479 (+174%), from €16,358 to €44,836
of which Trade receivables: +€34,596
- Tangible fixed assets -€7,924
down €7,924 (-1.8%), from €443,388 to €435,464
of which Land and buildings: -€10,928
- Accrued charges and deferred income +€54,209
up €54,209 (+224%), from €24,238 to €78,447
- Reserves +€49,100
up €49,100 (+629%), from €7,800 to €56,900
- Tax, wage and social debts +€14,291
up €14,291 (+65.2%), from €21,912 to €36,203
- Debts after one year -€13,902
down €13,902 (-3.7%), from €379,509 to €365,608
of which Financial debts: -€13,902
- Trade debts +€9,810
up €9,810 (+33.9%), from €28,922 to €38,732
- Gross operating margin +€57,481
up €57,481 (+127%), from €45,327 to €102,808
- Taxes +€11,624
up €11,624 (+435%), from €2,669 to €14,293
- Depreciation +€2,800
up €2,800 (+13.3%), from €21,064 to €23,864
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 | €519,071 | €621,788 | +€102,717 | +19.8% |
| Fixed assets | 21/28 | €447,147 | €436,526 | -€10,621 | -2.4% |
| Intangible fixed assets | 21 | €3,759 | €1,062 | -€2,697 | -71.8% |
| Tangible fixed assets | 22/27 | €443,388 | €435,464 | -€7,924 | -1.8% |
| Land and buildings | 22 | €423,801 | €412,873 | -€10,928 | -2.6% |
| Plant, machinery and equipment | 23 | - | €3,606 | +€3,606 | |
| Furniture and vehicles | 24 | €17,253 | €17,085 | -€168 | -1.0% |
| Other tangible fixed assets | 26 | €2,333 | €1,900 | -€433 | -18.6% |
| Current assets | 29/58 | €71,924 | €185,262 | +€113,338 | +158% |
| Amounts receivable within one year | 40/41 | €16,358 | €44,836 | +€28,479 | +174% |
| Trade receivables | 40 | €7,495 | €42,091 | +€34,596 | +462% |
| Other amounts receivable | 41 | €8,862 | €2,745 | -€6,117 | -69.0% |
| Cash at bank and in hand | 54/58 | €32,515 | €77,281 | +€44,766 | +138% |
| Deferred charges and accrued income | 490/1 | €23,051 | €63,145 | +€40,094 | +174% |
| Total equity and liabilities | 10/49 | €519,071 | €621,788 | +€102,717 | +19.8% |
| Equity | 10/15 | €12,824 | €61,925 | +€49,101 | +383% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €7,800 | €56,900 | +€49,100 | +629% |
| Distributable reserves | 133 | €7,800 | €56,900 | +€49,100 | +629% |
| Profit (loss) carried forward | 14 | €24 | €25 | +€1 | +4.0% |
| Amounts payable | 17/49 | €506,246 | €559,862 | +€53,616 | +10.6% |
| Amounts payable after more than one year | 17 | €379,509 | €365,608 | -€13,902 | -3.7% |
| Financial debts | 170/4 | €331,509 | €317,608 | -€13,902 | -4.2% |
| Other amounts payable | 178/9 | €48,000 | €48,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €102,499 | €115,808 | +€13,308 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €17,437 | €13,902 | -€3,535 | -20.3% |
| Financial debts | 43 | - | €1,216 | +€1,216 | |
| Credit institutions | 430/8 | - | €1,216 | +€1,216 | |
| Trade debts | 44 | €28,922 | €38,732 | +€9,810 | +33.9% |
| Suppliers | 440/4 | €28,922 | €38,732 | +€9,810 | +33.9% |
| Taxes, remuneration and social security | 45 | €21,912 | €36,203 | +€14,291 | +65.2% |
| Taxes | 450/3 | €21,912 | €36,203 | +€14,291 | +65.2% |
| Other amounts payable | 47/48 | €34,229 | €25,755 | -€8,474 | -24.8% |
| Accrued charges and deferred income | 492/3 | €24,238 | €78,447 | +€54,209 | +224% |
| Non-recurring operating income | 76A | - | €13,252 | +€13,252 | |
| Remuneration, social security and pensions | 62 | €918 | - | -€918 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,064 | €23,864 | +€2,800 | +13.3% |
| Other operating charges | 640/8 | €635 | €528 | -€107 | -16.9% |
| Gross operating margin | 9900 | €45,327 | €102,808 | +€57,481 | +127% |
| Operating profit (loss) | 9901 | €22,710 | €78,416 | +€55,707 | +245% |
| Financial income | 75/76B | €21 | €613 | +€592 | +2,826% |
| Recurring financial income | 75 | €21 | €613 | +€592 | +2,826% |
| Financial charges | 65/66B | €15,085 | €15,635 | +€550 | +3.6% |
| Recurring financial charges | 65 | €15,085 | €15,635 | +€550 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €7,645 | €63,394 | +€55,749 | +729% |
| Income taxes | 67/77 | €2,669 | €14,293 | +€11,624 | +435% |
| Profit (loss) for the period | 9904 | €4,976 | €49,101 | +€44,125 | +887% |
| Profit (loss) for the period to be appropriated | 9905 | €4,976 | €49,101 | +€44,125 | +887% |
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 30 October 2026 via checked.be.