PUZZLEAGENT: 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.
PUZZLEAGENT
Largest movements
- Tangible fixed assets +€32,144
new in 2025: €32,144
- Cash -€15,750
down €15,750 (-20.0%), from €78,562 to €62,812
mainly Contributions, distributions and other (-€41,000) and Investment in fixed assets (net) (-€38,881)
- Current portion of long-term debt +€11,499
new in 2025: €11,499
- Profit (loss) carried forward +€6,618
up €6,618 (+18.6%), from €35,572 to €42,190
- Debts after one year +€5,880
new in 2025: €5,880
- Other debts -€5,620
down €5,620 (-13.1%), from €42,940 to €37,320
- Tax, wage and social debts -€1,941
down €1,941 (-17.3%), from €11,200 to €9,259
of which Remuneration and social security: -€3,000
- Gross operating margin +€7,693
up €7,693 (+12.7%), from €60,656 to €68,350
- Depreciation +€6,014
up €6,014 (+832.2%), from €723 to €6,737
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 | €94,760 | €111,152 | +€16,393 | +17.3% |
| Fixed assets | 21/28 | €100 | €32,244 | +€32,144 | +32143.9% |
| Tangible fixed assets | 22/27 | - | €32,144 | +€32,144 | |
| Furniture and vehicles | 24 | - | €32,144 | +€32,144 | |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €94,660 | €78,908 | -€15,751 | -16.6% |
| Amounts receivable within one year | 40/41 | €13,322 | €13,917 | +€596 | +4.5% |
| Trade receivables | 40 | €13,322 | €11,310 | -€2,012 | -15.1% |
| Other amounts receivable | 41 | - | €2,607 | +€2,607 | |
| Cash at bank and in hand | 54/58 | €78,562 | €62,812 | -€15,750 | -20.0% |
| Deferred charges and accrued income | 490/1 | €2,776 | €2,179 | -€597 | -21.5% |
| Total equity and liabilities | 10/49 | €94,760 | €111,152 | +€16,393 | +17.3% |
| Equity | 10/15 | €40,572 | €47,190 | +€6,618 | +16.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,572 | €42,190 | +€6,618 | +18.6% |
| Amounts payable | 17/49 | €54,188 | €63,962 | +€9,774 | +18.0% |
| Amounts payable after more than one year | 17 | - | €5,880 | +€5,880 | |
| Financial debts | 170/4 | - | €5,880 | +€5,880 | |
| Amounts payable within one year | 42/48 | €54,188 | €58,082 | +€3,894 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | - | €11,499 | +€11,499 | |
| Trade debts | 44 | €48 | €5 | -€43 | -90.3% |
| Suppliers | 440/4 | €48 | €5 | -€43 | -90.3% |
| Taxes, remuneration and social security | 45 | €11,200 | €9,259 | -€1,941 | -17.3% |
| Taxes | 450/3 | €8,200 | €9,259 | +€1,059 | +12.9% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Other amounts payable | 47/48 | €42,940 | €37,320 | -€5,620 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €723 | €6,737 | +€6,014 | +832.2% |
| Other operating charges | 640/8 | €543 | €503 | -€41 | -7.5% |
| Gross operating margin | 9900 | €60,656 | €68,350 | +€7,693 | +12.7% |
| Operating profit (loss) | 9901 | €59,390 | €61,110 | +€1,720 | +2.9% |
| Financial income | 75/76B | €8 | - | -€8 | |
| Recurring financial income | 75 | €8 | - | -€8 | |
| Financial charges | 65/66B | €1,383 | €1,094 | -€289 | -20.9% |
| Recurring financial charges | 65 | €1,383 | €1,094 | -€289 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €58,016 | €60,016 | +€2,000 | +3.4% |
| Income taxes | 67/77 | €12,323 | €12,397 | +€75 | +0.6% |
| Profit (loss) for the period | 9904 | €45,693 | €47,618 | +€1,925 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €45,693 | €47,618 | +€1,925 | +4.2% |
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 30 September 2026 via checked.be.