Pivot: 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.
Pivot
Largest movements
- Cash +€35,199
up €35,199 (+109.2%), from €32,237 to €67,436
mainly Net result for the year (+€21,378) and Current investments (+€16,550)
- Current investments -€16,550
down €16,550 (-72.6%), from €22,800 to €6,250
- Receivables within one year +€2,858
up €2,858 (+23.0%), from €12,450 to €15,308
of which Trade receivables: +€2,981
- Tangible fixed assets -€1,104
down €1,104 (-31.0%), from €3,561 to €2,457
of which Furniture and vehicles: -€603
- Reserves +€21,378
up €21,378 (+41.1%), from €52,076 to €73,454
- Gross operating margin -€13,813
down €13,813 (-31.2%), from €44,303 to €30,490
- Taxes -€2,682
down €2,682 (-30.4%), from €8,820 to €6,138
- Financial income +€750
up €750 (+1023.7%), from €73 to €824
- Other operating charges +€605
up €605 (+481.2%), from €126 to €731
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 | €71,359 | €91,691 | +€20,332 | +28.5% |
| Fixed assets | 21/28 | €3,561 | €2,457 | -€1,104 | -31.0% |
| Tangible fixed assets | 22/27 | €3,561 | €2,457 | -€1,104 | -31.0% |
| Plant, machinery and equipment | 23 | €1,709 | €1,208 | -€501 | -29.3% |
| Furniture and vehicles | 24 | €1,852 | €1,249 | -€603 | -32.6% |
| Current assets | 29/58 | €67,798 | €89,234 | +€21,436 | +31.6% |
| Amounts receivable within one year | 40/41 | €12,450 | €15,308 | +€2,858 | +23.0% |
| Trade receivables | 40 | €11,418 | €14,399 | +€2,981 | +26.1% |
| Other amounts receivable | 41 | €1,032 | €909 | -€123 | -11.9% |
| Current investments | 50/53 | €22,800 | €6,250 | -€16,550 | -72.6% |
| Cash at bank and in hand | 54/58 | €32,237 | €67,436 | +€35,199 | +109.2% |
| Deferred charges and accrued income | 490/1 | €311 | €239 | -€72 | -23.1% |
| Total equity and liabilities | 10/49 | €71,359 | €91,691 | +€20,332 | +28.5% |
| Equity | 10/15 | €57,076 | €78,454 | +€21,378 | +37.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €52,076 | €73,454 | +€21,378 | +41.1% |
| Distributable reserves | 133 | €52,076 | €73,454 | +€21,378 | +41.1% |
| Amounts payable | 17/49 | €14,282 | €13,237 | -€1,046 | -7.3% |
| Amounts payable within one year | 42/48 | €14,282 | €13,237 | -€1,046 | -7.3% |
| Trade debts | 44 | €2,737 | €1,944 | -€793 | -29.0% |
| Suppliers | 440/4 | €2,737 | €1,944 | -€793 | -29.0% |
| Taxes, remuneration and social security | 45 | €10,455 | €9,602 | -€852 | -8.2% |
| Taxes | 450/3 | €10,455 | €9,602 | -€852 | -8.2% |
| Other amounts payable | 47/48 | €1,091 | €1,691 | +€599 | +54.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,221 | €1,582 | +€361 | +29.6% |
| Other operating charges | 640/8 | €126 | €731 | +€605 | +481.2% |
| Gross operating margin | 9900 | €44,303 | €30,490 | -€13,813 | -31.2% |
| Operating profit (loss) | 9901 | €42,956 | €28,176 | -€14,780 | -34.4% |
| Financial income | 75/76B | €73 | €824 | +€750 | +1023.7% |
| Recurring financial income | 75 | €73 | €824 | +€750 | +1023.7% |
| Financial charges | 65/66B | €1,417 | €1,484 | +€67 | +4.7% |
| Recurring financial charges | 65 | €1,417 | €1,484 | +€67 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €41,612 | €27,516 | -€14,096 | -33.9% |
| Income taxes | 67/77 | €8,820 | €6,138 | -€2,682 | -30.4% |
| Profit (loss) for the period | 9904 | €32,792 | €21,378 | -€11,415 | -34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,792 | €21,378 | -€11,415 | -34.8% |
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 6 October 2026 via checked.be.