QUALITY: 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.
QUALITY
Largest movements
- Financial fixed assets +€150,000
up €150,000 (+2307.7%), from €6,500 to €156,500
- Cash -€75,068
down €75,068 (-83.3%), from €90,155 to €15,087
mainly Investment in fixed assets (net) (-€150,000) and Receivables within one year (-€68,707)
- Receivables within one year +€68,707
up €68,707 (+191.3%), from €35,920 to €104,627
of which Other amounts receivable: +€37,590
- Intangible fixed assets -€6,450
down €6,450 (-100.0%), from €6,450 to €0
- Debts after one year +€122,603
new in 2025: €122,603
- Current portion of long-term debt +€18,356
up €18,356 (+345.8%), from €5,308 to €23,664
- Other debts -€9,045
down €9,045 (-43.0%), from €21,016 to €11,971
- Profit (loss) carried forward +€5,459
up €5,459 (+325.4%), from €1,678 to €7,137
- Tax, wage and social debts -€2,802
down €2,802 (-8.9%), from €31,496 to €28,694
of which Taxes: -€6,198
- Staff costs +€49,389
up €49,389 (+89.3%), from €55,328 to €104,717
- Gross operating margin +€39,451
up €39,451 (+43.6%), from €90,457 to €129,907
- Depreciation -€6,590
down €6,590 (-47.7%), from €13,812 to €7,222
- Financial charges +€3,277
up €3,277 (+411.1%), from €797 to €4,074
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 | €143,847 | €279,509 | +€135,662 | +94.3% |
| Fixed assets | 21/28 | €14,494 | €157,271 | +€142,778 | +985.1% |
| Intangible fixed assets | 21 | €6,450 | €0 | -€6,450 | -100.0% |
| Tangible fixed assets | 22/27 | €1,544 | €771 | -€772 | -50.0% |
| Other tangible fixed assets | 26 | €1,544 | €771 | -€772 | -50.0% |
| Financial fixed assets | 28 | €6,500 | €156,500 | +€150,000 | +2307.7% |
| Current assets | 29/58 | €129,354 | €122,238 | -€7,116 | -5.5% |
| Amounts receivable within one year | 40/41 | €35,920 | €104,627 | +€68,707 | +191.3% |
| Trade receivables | 40 | €32,253 | €63,370 | +€31,117 | +96.5% |
| Other amounts receivable | 41 | €3,667 | €41,257 | +€37,590 | +1025.1% |
| Cash at bank and in hand | 54/58 | €90,155 | €15,087 | -€75,068 | -83.3% |
| Deferred charges and accrued income | 490/1 | €3,279 | €2,524 | -€755 | -23.0% |
| Total equity and liabilities | 10/49 | €143,847 | €279,509 | +€135,662 | +94.3% |
| Equity | 10/15 | €79,138 | €84,597 | +€5,459 | +6.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €58,860 | €58,860 | = | 0.0% |
| 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 | €57,000 | €57,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,678 | €7,137 | +€5,459 | +325.4% |
| Amounts payable | 17/49 | €64,709 | €194,912 | +€130,203 | +201.2% |
| Amounts payable after more than one year | 17 | - | €122,603 | +€122,603 | |
| Financial debts | 170/4 | - | €122,603 | +€122,603 | |
| Amounts payable within one year | 42/48 | €64,709 | €70,273 | +€5,563 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €5,308 | €23,664 | +€18,356 | +345.8% |
| Trade debts | 44 | €6,889 | €5,943 | -€946 | -13.7% |
| Suppliers | 440/4 | €6,889 | €5,943 | -€946 | -13.7% |
| Taxes, remuneration and social security | 45 | €31,496 | €28,694 | -€2,802 | -8.9% |
| Taxes | 450/3 | €17,502 | €11,304 | -€6,198 | -35.4% |
| Remuneration and social security | 454/9 | €13,994 | €17,390 | +€3,396 | +24.3% |
| Other amounts payable | 47/48 | €21,016 | €11,971 | -€9,045 | -43.0% |
| Accrued charges and deferred income | 492/3 | - | €2,036 | +€2,036 | |
| Remuneration, social security and pensions | 62 | €55,328 | €104,717 | +€49,389 | +89.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,812 | €7,222 | -€6,590 | -47.7% |
| Other operating charges | 640/8 | €4,554 | €4,243 | -€312 | -6.8% |
| Gross operating margin | 9900 | €90,457 | €129,907 | +€39,451 | +43.6% |
| Operating profit (loss) | 9901 | €16,762 | €13,725 | -€3,037 | -18.1% |
| Financial income | 75/76B | €28 | €52 | +€24 | +88.4% |
| Recurring financial income | 75 | €28 | €52 | +€24 | +88.4% |
| Financial charges | 65/66B | €797 | €4,074 | +€3,277 | +411.1% |
| Recurring financial charges | 65 | €797 | €4,074 | +€3,277 | +411.1% |
| Profit (loss) for the period before taxes | 9903 | €15,993 | €9,703 | -€6,290 | -39.3% |
| Income taxes | 67/77 | €5,333 | €4,243 | -€1,090 | -20.4% |
| Profit (loss) for the period | 9904 | €10,660 | €5,459 | -€5,200 | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,660 | €5,459 | -€5,200 | -48.8% |
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 9 October 2026 via checked.be.