PERPENDICULUM: 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.
PERPENDICULUM
Largest movements
- Cash +€99,739
up €99,739 (+46.6%), from €214,246 to €313,985
mainly Net result for the year (+€97,793) and Depreciation (+€15,776)
- Tangible fixed assets -€15,776
down €15,776 (-50.0%), from €31,552 to €15,776
- Reserves +€97,793
up €97,793 (+45.6%), from €214,619 to €312,412
- Tax, wage and social debts -€17,026
down €17,026 (-42.1%), from €40,394 to €23,368
- Gross operating margin +€30,225
up €30,225 (+24.9%), from €121,588 to €151,813
- Taxes +€10,324
up €10,324 (+35.1%), from €29,389 to €39,713
- Financial income +€2,281
new in 2025: €2,281
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 | €266,648 | €350,179 | +€83,531 | +31.3% |
| Fixed assets | 21/28 | €31,552 | €15,776 | -€15,776 | -50.0% |
| Tangible fixed assets | 22/27 | €31,552 | €15,776 | -€15,776 | -50.0% |
| Furniture and vehicles | 24 | €31,552 | €15,776 | -€15,776 | -50.0% |
| Current assets | 29/58 | €235,096 | €334,403 | +€99,307 | +42.2% |
| Amounts receivable within one year | 40/41 | €20,850 | €20,418 | -€432 | -2.1% |
| Trade receivables | 40 | €20,850 | €20,418 | -€432 | -2.1% |
| Cash at bank and in hand | 54/58 | €214,246 | €313,985 | +€99,739 | +46.6% |
| Total equity and liabilities | 10/49 | €266,648 | €350,179 | +€83,531 | +31.3% |
| Equity | 10/15 | €225,801 | €325,594 | +€99,793 | +44.2% |
| Contributions | 10/11 | €3,000 | €5,000 | +€2,000 | +66.7% |
| Reserves | 13 | €214,619 | €312,412 | +€97,793 | +45.6% |
| Distributable reserves | 133 | €214,619 | €312,412 | +€97,793 | +45.6% |
| Profit (loss) carried forward | 14 | €8,182 | €8,182 | = | 0.0% |
| Amounts payable | 17/49 | €40,847 | €24,585 | -€16,262 | -39.8% |
| Amounts payable within one year | 42/48 | €40,847 | €24,585 | -€16,262 | -39.8% |
| Trade debts | 44 | €453 | €1,217 | +€764 | +169% |
| Suppliers | 440/4 | €453 | €1,217 | +€764 | +169% |
| Taxes, remuneration and social security | 45 | €40,394 | €23,368 | -€17,026 | -42.1% |
| Taxes | 450/3 | €40,394 | €23,368 | -€17,026 | -42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,776 | €15,776 | = | 0.0% |
| Other operating charges | 640/8 | €742 | €765 | +€23 | +3.1% |
| Gross operating margin | 9900 | €121,588 | €151,813 | +€30,225 | +24.9% |
| Operating profit (loss) | 9901 | €105,070 | €135,272 | +€30,202 | +28.7% |
| Financial income | 75/76B | - | €2,281 | +€2,281 | |
| Recurring financial income | 75 | - | €2,281 | +€2,281 | |
| Financial charges | 65/66B | €40 | €47 | +€7 | +17.5% |
| Recurring financial charges | 65 | €40 | €47 | +€7 | +17.5% |
| Profit (loss) for the period before taxes | 9903 | €105,030 | €137,506 | +€32,476 | +30.9% |
| Income taxes | 67/77 | €29,389 | €39,713 | +€10,324 | +35.1% |
| Profit (loss) for the period | 9904 | €75,641 | €97,793 | +€22,152 | +29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €75,641 | €97,793 | +€22,152 | +29.3% |
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 19 October 2026 via checked.be.