PS: 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.
PS
Largest movements
- Cash +€51,383
up €51,383 (+137.1%), from €37,475 to €88,858
mainly Trade debts (+€24,689) and Debts after one year (+€15,993)
- Tangible fixed assets +€17,361
up €17,361 (+5322.3%), from €326 to €17,688
of which Furniture and vehicles: +€17,501
- Intangible fixed assets -€3,500
down €3,500 (-80.0%), from €4,375 to €875
- Receivables within one year -€3,277
down €3,277 (-12.7%), from €25,876 to €22,599
- Trade debts +€24,689
up €24,689 (+657.2%), from €3,757 to €28,445
- Debts after one year +€15,993
new in 2025: €15,993
- Profit (loss) carried forward +€15,435
new in 2025: €15,435
- Other debts -€3,600
no longer reported in 2025 (was €3,600)
- Current portion of long-term debt +€3,456
new in 2025: €3,456
- Gross operating margin -€8,920
down €8,920 (-25.7%), from €34,750 to €25,830
- Staff costs -€3,417
down €3,417 (-92.1%), from €3,709 to €293
- Depreciation +€982
up €982 (+27.0%), from €3,640 to €4,622
- Financial charges +€961
up €961, from -€444 to €517
- Taxes -€898
down €898 (-17.0%), from €5,277 to €4,379
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 | €77,919 | €140,239 | +€62,320 | +80.0% |
| Fixed assets | 21/28 | €10,978 | €24,831 | +€13,853 | +126.2% |
| Intangible fixed assets | 21 | €4,375 | €875 | -€3,500 | -80.0% |
| Tangible fixed assets | 22/27 | €326 | €17,688 | +€17,361 | +5322.3% |
| Plant, machinery and equipment | 23 | €326 | €186 | -€140 | -42.9% |
| Furniture and vehicles | 24 | - | €17,501 | +€17,501 | |
| Financial fixed assets | 28 | €6,276 | €6,268 | -€9 | -0.1% |
| Current assets | 29/58 | €66,941 | €115,409 | +€48,467 | +72.4% |
| Stocks and contracts in progress | 3 | €3,590 | €3,590 | = | 0.0% |
| Stocks | 30/36 | €3,590 | €3,590 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €25,876 | €22,599 | -€3,277 | -12.7% |
| Other amounts receivable | 41 | €25,876 | €22,599 | -€3,277 | -12.7% |
| Cash at bank and in hand | 54/58 | €37,475 | €88,858 | +€51,383 | +137.1% |
| Deferred charges and accrued income | 490/1 | - | €361 | +€361 | |
| Total equity and liabilities | 10/49 | €77,919 | €140,239 | +€62,320 | +80.0% |
| Equity | 10/15 | €62,193 | €77,628 | +€15,435 | +24.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €43,593 | €43,593 | = | 0.0% |
| Non-distributable reserves | 130/1 | €194 | €194 | = | 0.0% |
| Reserves not available under the articles | 1311 | €194 | €194 | = | 0.0% |
| Distributable reserves | 133 | €43,400 | €43,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €15,435 | +€15,435 | |
| Amounts payable | 17/49 | €15,725 | €62,611 | +€46,886 | +298.2% |
| Amounts payable after more than one year | 17 | - | €15,993 | +€15,993 | |
| Financial debts | 170/4 | - | €15,993 | +€15,993 | |
| Amounts payable within one year | 42/48 | €15,725 | €46,618 | +€30,893 | +196.5% |
| Current portion of amounts payable after more than one year | 42 | - | €3,456 | +€3,456 | |
| Financial debts | 43 | €441 | €3,516 | +€3,075 | +697.2% |
| Other loans | 439 | €441 | €3,516 | +€3,075 | +697.2% |
| Trade debts | 44 | €3,757 | €28,445 | +€24,689 | +657.2% |
| Suppliers | 440/4 | €3,757 | €28,445 | +€24,689 | +657.2% |
| Taxes, remuneration and social security | 45 | €7,928 | €11,201 | +€3,273 | +41.3% |
| Taxes | 450/3 | €7,928 | €11,201 | +€3,273 | +41.3% |
| Other amounts payable | 47/48 | €3,600 | - | -€3,600 | |
| Remuneration, social security and pensions | 62 | €3,709 | €293 | -€3,417 | -92.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,640 | €4,622 | +€982 | +27.0% |
| Other operating charges | 640/8 | €788 | €1,046 | +€258 | +32.8% |
| Gross operating margin | 9900 | €34,750 | €25,830 | -€8,920 | -25.7% |
| Operating profit (loss) | 9901 | €26,613 | €19,869 | -€6,744 | -25.3% |
| Financial income | 75/76B | €750 | €462 | -€288 | -38.4% |
| Recurring financial income | 75 | €750 | €462 | -€288 | -38.4% |
| Financial charges | 65/66B | -€444 | €517 | +€961 | |
| Recurring financial charges | 65 | -€444 | €517 | +€961 | |
| Profit (loss) for the period before taxes | 9903 | €27,807 | €19,814 | -€7,993 | -28.7% |
| Income taxes | 67/77 | €5,277 | €4,379 | -€898 | -17.0% |
| Profit (loss) for the period | 9904 | €22,530 | €15,435 | -€7,095 | -31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,530 | €15,435 | -€7,095 | -31.5% |
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.