POSITIVE DEVELOPMENT: 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.
POSITIVE DEVELOPMENT
Largest movements
- Receivables within one year -€43,273
down €43,273 (-40.4%), from €107,124 to €63,850
of which Other amounts receivable: -€29,299
- Cash +€17,935
up €17,935 (+54.7%), from €32,788 to €50,722
mainly Receivables within one year (+€43,273) and Net result for the year (+€11,353)
- Tangible fixed assets -€1,648
down €1,648 (-19.6%), from €8,416 to €6,767
of which Other tangible fixed assets: -€1,078
- Trade debts -€39,484
down €39,484 (-90.2%), from €43,767 to €4,283
- Reserves +€11,353
up €11,353 (+12.4%), from €91,834 to €103,187
of which Distributable reserves: +€11,353
- Gross operating margin +€13,407
up €13,407 (+1152.2%), from €1,164 to €14,571
- Taxes +€4,421
up €4,421 (+581.5%), from €760 to €5,182
- Other operating charges -€411
no longer reported in 2025 (was €411)
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 | €148,480 | €121,493 | -€26,987 | -18.2% |
| Fixed assets | 21/28 | €8,416 | €6,767 | -€1,648 | -19.6% |
| Tangible fixed assets | 22/27 | €8,416 | €6,767 | -€1,648 | -19.6% |
| Plant, machinery and equipment | 23 | €843 | €527 | -€315 | -37.4% |
| Furniture and vehicles | 24 | €298 | €42 | -€255 | -85.7% |
| Other tangible fixed assets | 26 | €7,275 | €6,197 | -€1,078 | -14.8% |
| Current assets | 29/58 | €140,064 | €114,726 | -€25,339 | -18.1% |
| Amounts receivable within one year | 40/41 | €107,124 | €63,850 | -€43,273 | -40.4% |
| Trade receivables | 40 | €31,256 | €17,282 | -€13,974 | -44.7% |
| Other amounts receivable | 41 | €75,868 | €46,568 | -€29,299 | -38.6% |
| Cash at bank and in hand | 54/58 | €32,788 | €50,722 | +€17,935 | +54.7% |
| Deferred charges and accrued income | 490/1 | €153 | €153 | = | 0.0% |
| Total equity and liabilities | 10/49 | €148,480 | €121,493 | -€26,987 | -18.2% |
| Equity | 10/15 | €100,025 | €111,378 | +€11,353 | +11.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €91,834 | €103,187 | +€11,353 | +12.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €89,974 | €101,327 | +€11,353 | +12.6% |
| Profit (loss) carried forward | 14 | €1,991 | €1,991 | = | 0.0% |
| Amounts payable | 17/49 | €48,455 | €10,115 | -€38,340 | -79.1% |
| Amounts payable within one year | 42/48 | €48,455 | €10,115 | -€38,340 | -79.1% |
| Trade debts | 44 | €43,767 | €4,283 | -€39,484 | -90.2% |
| Suppliers | 440/4 | €43,767 | €4,283 | -€39,484 | -90.2% |
| Taxes, remuneration and social security | 45 | €4,688 | €5,832 | +€1,144 | +24.4% |
| Taxes | 450/3 | €4,688 | €5,832 | +€1,144 | +24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,597 | €1,648 | +€51 | +3.2% |
| Other operating charges | 640/8 | €411 | - | -€411 | |
| Gross operating margin | 9900 | €1,164 | €14,571 | +€13,407 | +1152.2% |
| Operating profit (loss) | 9901 | -€844 | €12,923 | +€13,767 | |
| Financial income | 75/76B | €3,823 | €3,768 | -€55 | -1.4% |
| Recurring financial income | 75 | €3,823 | €3,768 | -€55 | -1.4% |
| Financial charges | 65/66B | €227 | €155 | -€72 | -31.6% |
| Recurring financial charges | 65 | €227 | €155 | -€72 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | €2,751 | €16,535 | +€13,784 | +501.0% |
| Income taxes | 67/77 | €760 | €5,182 | +€4,421 | +581.5% |
| Profit (loss) for the period | 9904 | €1,991 | €11,353 | +€9,362 | +470.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,991 | €11,353 | +€9,362 | +470.2% |
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 8 October 2026 via checked.be.