PLAY PAUSE: 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.
PLAY PAUSE
Largest movements
- Cash +€22,243
up €22,243 (+17.4%), from €127,813 to €150,057
mainly Other debts (+€67,352) and Net result for the year (+€32,477)
- Current investments +€20,011
new in 2025: €20,011
- Receivables within one year -€3,947
down €3,947 (-19.3%), from €20,401 to €16,453
of which Other amounts receivable: -€4,861
- Tangible fixed assets -€2,850
down €2,850 (-16.3%), from €17,488 to €14,638
of which Plant, machinery and equipment: -€2,702
- Other debts +€67,352
up €67,352 (+143.9%), from €46,789 to €114,140
- Reserves -€31,289
down €31,289 (-50.0%), from €62,599 to €31,309
of which Distributable reserves: -€31,289
- Tax, wage and social debts +€2,604
up €2,604 (+33.4%), from €7,801 to €10,405
- Trade debts -€2,420
down €2,420 (-46.6%), from €5,196 to €2,775
- Financial charges +€35,137
up €35,137 (+1599.3%), from €2,197 to €37,334
of which Financial charges: +€35,185
- Taxes -€6,645
down €6,645 (-36.8%), from €18,037 to €11,392
- Gross operating margin +€5,747
up €5,747 (+7.0%), from €81,942 to €87,689
- Depreciation -€2,633
down €2,633 (-25.1%), from €10,511 to €7,877
- Financial income +€1,492
up €1,492 (+678272.7%), from €0 to €1,492
of which Financial income: +€1,492
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 | €167,737 | €203,983 | +€36,246 | +21.6% |
| Fixed assets | 21/28 | €18,113 | €15,263 | -€2,850 | -15.7% |
| Tangible fixed assets | 22/27 | €17,488 | €14,638 | -€2,850 | -16.3% |
| Plant, machinery and equipment | 23 | €4,694 | €1,992 | -€2,702 | -57.6% |
| Furniture and vehicles | 24 | €12,794 | €12,646 | -€148 | -1.2% |
| Financial fixed assets | 28 | €625 | €625 | = | 0.0% |
| Current assets | 29/58 | €149,624 | €188,720 | +€39,096 | +26.1% |
| Amounts receivable within one year | 40/41 | €20,401 | €16,453 | -€3,947 | -19.3% |
| Trade receivables | 40 | €15,540 | €16,453 | +€914 | +5.9% |
| Other amounts receivable | 41 | €4,861 | - | -€4,861 | |
| Current investments | 50/53 | - | €20,011 | +€20,011 | |
| Cash at bank and in hand | 54/58 | €127,813 | €150,057 | +€22,243 | +17.4% |
| Deferred charges and accrued income | 490/1 | €1,410 | €2,199 | +€789 | +56.0% |
| Total equity and liabilities | 10/49 | €167,737 | €203,983 | +€36,246 | +21.6% |
| Equity | 10/15 | €107,952 | €76,662 | -€31,289 | -29.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €62,599 | €31,309 | -€31,289 | -50.0% |
| Non-distributable reserves | 130/1 | €934 | €934 | = | 0.0% |
| Reserves not available under the articles | 1311 | €934 | €934 | = | 0.0% |
| Distributable reserves | 133 | €61,665 | €30,376 | -€31,289 | -50.7% |
| Profit (loss) carried forward | 14 | €26,753 | €26,753 | = | 0.0% |
| Amounts payable | 17/49 | €59,785 | €127,321 | +€67,536 | +113.0% |
| Amounts payable within one year | 42/48 | €59,785 | €127,321 | +€67,536 | +113.0% |
| Trade debts | 44 | €5,196 | €2,775 | -€2,420 | -46.6% |
| Suppliers | 440/4 | €5,196 | €2,775 | -€2,420 | -46.6% |
| Taxes, remuneration and social security | 45 | €7,801 | €10,405 | +€2,604 | +33.4% |
| Taxes | 450/3 | €7,801 | €10,405 | +€2,604 | +33.4% |
| Other amounts payable | 47/48 | €46,789 | €114,140 | +€67,352 | +143.9% |
| Non-recurring operating income | 76A | - | €24 | +€24 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,511 | €7,877 | -€2,633 | -25.1% |
| Other operating charges | 640/8 | €726 | €101 | -€626 | -86.1% |
| Gross operating margin | 9900 | €81,942 | €87,689 | +€5,747 | +7.0% |
| Operating profit (loss) | 9901 | €70,705 | €79,711 | +€9,006 | +12.7% |
| Financial income | 75/76B | €0 | €1,492 | +€1,492 | +678272.7% |
| Recurring financial income | 75 | €0 | €1,492 | +€1,492 | +678272.7% |
| Non-recurring financial income | 76B | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,197 | €37,334 | +€35,137 | +1599.3% |
| Recurring financial charges | 65 | €2,138 | €37,323 | +€35,185 | +1646.0% |
| Non-recurring financial charges | 66B | €59 | €11 | -€48 | -81.1% |
| Profit (loss) for the period before taxes | 9903 | €68,508 | €43,869 | -€24,639 | -36.0% |
| Income taxes | 67/77 | €18,037 | €11,392 | -€6,645 | -36.8% |
| Profit (loss) for the period | 9904 | €50,471 | €32,477 | -€17,994 | -35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €50,471 | €32,477 | -€17,994 | -35.7% |
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.