PLUS-U: 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.
PLUS-U
Largest movements
- Receivables within one year +€230,814
up €230,814 (+18.6%), from €1.2m to €1.5m
of which Trade receivables: +€191,902
- Intangible fixed assets +€37,135
up €37,135 (+219.1%), from €16,946 to €54,081
- Profit (loss) carried forward -€461,668
down €461,668 (-205.8%), from -€224,381 to -€686,049
- Trade debts +€416,514
up €416,514 (+678.2%), from €61,415 to €477,930
- Other debts +€359,959
up €359,959 (+31.7%), from €1.1m to €1.5m
- Tax, wage and social debts -€36,199
down €36,199 (-40.3%), from €89,814 to €53,615
of which Remuneration and social security: -€20,209
- Staff costs +€213,853
up €213,853 (+134.1%), from €159,524 to €373,376
- Gross operating margin -€16,388
down €16,388 (-33.6%), from -€48,815 to -€65,204
- Depreciation +€11,690
up €11,690 (+285.8%), from €4,090 to €15,780
- Financial charges +€3,636
up €3,636 (+196.2%), from €1,853 to €5,489
- Other operating charges +€1,254
up €1,254 (+892.2%), from €141 to €1,394
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 | €1,276,089 | €1,555,365 | +€279,276 | +21.9% |
| Formation expenses | 20 | €1,423 | €758 | -€665 | -46.7% |
| Fixed assets | 21/28 | €25,107 | €66,240 | +€41,132 | +163.8% |
| Intangible fixed assets | 21 | €16,946 | €54,081 | +€37,135 | +219.1% |
| Tangible fixed assets | 22/27 | €8,162 | €11,659 | +€3,497 | +42.8% |
| Plant, machinery and equipment | 23 | €8,162 | €11,659 | +€3,497 | +42.8% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €1,249,559 | €1,488,367 | +€238,808 | +19.1% |
| Stocks and contracts in progress | 3 | €8,838 | €13,380 | +€4,543 | +51.4% |
| Stocks | 30/36 | €8,838 | €13,380 | +€4,543 | +51.4% |
| Amounts receivable within one year | 40/41 | €1,240,457 | €1,471,271 | +€230,814 | +18.6% |
| Trade receivables | 40 | €224,735 | €416,637 | +€191,902 | +85.4% |
| Other amounts receivable | 41 | €1,015,722 | €1,054,634 | +€38,912 | +3.8% |
| Cash at bank and in hand | 54/58 | €264 | €2,727 | +€2,463 | +931.6% |
| Deferred charges and accrued income | 490/1 | - | €989 | +€989 | |
| Total equity and liabilities | 10/49 | €1,276,089 | €1,555,365 | +€279,276 | +21.9% |
| Equity | 10/15 | -€214,381 | -€676,049 | -€461,668 | -215.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€224,381 | -€686,049 | -€461,668 | -205.8% |
| Amounts payable | 17/49 | €1,490,470 | €2,231,414 | +€740,944 | +49.7% |
| Amounts payable within one year | 42/48 | €1,486,530 | €2,226,804 | +€740,274 | +49.8% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Other loans | 439 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €61,415 | €477,930 | +€416,514 | +678.2% |
| Suppliers | 440/4 | €61,415 | €477,930 | +€416,514 | +678.2% |
| Taxes, remuneration and social security | 45 | €89,814 | €53,615 | -€36,199 | -40.3% |
| Taxes | 450/3 | €17,292 | €1,302 | -€15,990 | -92.5% |
| Remuneration and social security | 454/9 | €72,521 | €52,312 | -€20,209 | -27.9% |
| Other amounts payable | 47/48 | €1,135,301 | €1,495,260 | +€359,959 | +31.7% |
| Accrued charges and deferred income | 492/3 | €3,940 | €4,610 | +€670 | +17.0% |
| Remuneration, social security and pensions | 62 | €159,524 | €373,376 | +€213,853 | +134.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,090 | €15,780 | +€11,690 | +285.8% |
| Other operating charges | 640/8 | €141 | €1,394 | +€1,254 | +892.2% |
| Gross operating margin | 9900 | -€48,815 | -€65,204 | -€16,388 | -33.6% |
| Operating profit (loss) | 9901 | -€212,569 | -€455,754 | -€243,185 | -114.4% |
| Financial charges | 65/66B | €1,853 | €5,489 | +€3,636 | +196.2% |
| Recurring financial charges | 65 | €1,853 | €5,489 | +€3,636 | +196.2% |
| Profit (loss) for the period before taxes | 9903 | -€214,422 | -€461,243 | -€246,821 | -115.1% |
| Income taxes | 67/77 | - | €425 | +€425 | |
| Profit (loss) for the period | 9904 | -€214,422 | -€461,668 | -€247,246 | -115.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€214,422 | -€461,668 | -€247,246 | -115.3% |
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 4 October 2026 via checked.be.