PITCH: 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.
PITCH
Largest movements
- Cash +€84,503
up €84,503 (+527.1%), from €16,032 to €100,535
mainly Net result for the year (+€96,704) and Other debts (+€83,704)
- Financial fixed assets +€77,700
new in 2025: €77,700
- Receivables within one year +€34,933
up €34,933 (+363.2%), from €9,617 to €44,550
of which Other amounts receivable: +€43,853
- Tangible fixed assets +€8,099
up €8,099 (+200.1%), from €4,048 to €12,146
of which Other tangible fixed assets: +€9,003
- Profit (loss) carried forward +€95,871
up €95,871 (+665.5%), from €14,405 to €110,275
- Other debts +€83,704
up €83,704 (+2721.2%), from €3,076 to €86,780
- Tax, wage and social debts +€24,759
up €24,759 (+275.2%), from €8,996 to €33,754
- Gross operating margin +€89,993
up €89,993 (+435.1%), from €20,685 to €110,678
- Taxes +€24,175
up €24,175 (+554.7%), from €4,358 to €28,533
- Financial income +€18,076
up €18,076 (+180760300.0%), from €0 to €18,076
- Financial charges +€1,609
up €1,609 (+300.2%), from €536 to €2,145
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 | €32,944 | €238,276 | +€205,333 | +623.3% |
| Fixed assets | 21/28 | €4,048 | €89,846 | +€85,799 | +2119.7% |
| Tangible fixed assets | 22/27 | €4,048 | €12,146 | +€8,099 | +200.1% |
| Furniture and vehicles | 24 | €4,048 | €3,143 | -€905 | -22.4% |
| Other tangible fixed assets | 26 | - | €9,003 | +€9,003 | |
| Financial fixed assets | 28 | - | €77,700 | +€77,700 | |
| Current assets | 29/58 | €28,896 | €148,430 | +€119,534 | +413.7% |
| Amounts receivable within one year | 40/41 | €9,617 | €44,550 | +€34,933 | +363.2% |
| Trade receivables | 40 | €9,617 | €698 | -€8,919 | -92.7% |
| Other amounts receivable | 41 | €0 | €43,853 | +€43,853 | |
| Cash at bank and in hand | 54/58 | €16,032 | €100,535 | +€84,503 | +527.1% |
| Deferred charges and accrued income | 490/1 | €3,247 | €3,345 | +€98 | +3.0% |
| Total equity and liabilities | 10/49 | €32,944 | €238,276 | +€205,333 | +623.3% |
| Equity | 10/15 | €16,805 | €112,675 | +€95,871 | +570.5% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €14,405 | €110,275 | +€95,871 | +665.5% |
| Amounts payable | 17/49 | €16,139 | €125,601 | +€109,462 | +678.3% |
| Amounts payable within one year | 42/48 | €16,139 | €125,601 | +€109,462 | +678.3% |
| Trade debts | 44 | €4,067 | €5,067 | +€1,000 | +24.6% |
| Suppliers | 440/4 | €4,067 | €5,067 | +€1,000 | +24.6% |
| Taxes, remuneration and social security | 45 | €8,996 | €33,754 | +€24,759 | +275.2% |
| Taxes | 450/3 | €8,996 | €33,754 | +€24,759 | +275.2% |
| Other amounts payable | 47/48 | €3,076 | €86,780 | +€83,704 | +2721.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €476 | €973 | +€496 | +104.2% |
| Other operating charges | 640/8 | €50 | €400 | +€350 | +699.5% |
| Gross operating margin | 9900 | €20,685 | €110,678 | +€89,993 | +435.1% |
| Operating profit (loss) | 9901 | €20,158 | €109,306 | +€89,147 | +442.2% |
| Financial income | 75/76B | €0 | €18,076 | +€18,076 | +180760300.0% |
| Recurring financial income | 75 | €0 | €18,076 | +€18,076 | +180760300.0% |
| Financial charges | 65/66B | €536 | €2,145 | +€1,609 | +300.2% |
| Recurring financial charges | 65 | €536 | €2,145 | +€1,609 | +300.2% |
| Profit (loss) for the period before taxes | 9903 | €19,622 | €125,237 | +€105,614 | +538.2% |
| Income taxes | 67/77 | €4,358 | €28,533 | +€24,175 | +554.7% |
| Profit (loss) for the period | 9904 | €15,264 | €96,704 | +€81,440 | +533.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,264 | €96,704 | +€81,440 | +533.5% |
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 10 October 2026 via checked.be.