QUANTITATIVE IMPACT: 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.
QUANTITATIVE IMPACT
Largest movements
- Receivables within one year +€137,110
up €137,110 (+33.5%), from €409,116 to €546,225
of which Other amounts receivable: +€156,111
- Tangible fixed assets -€21,757
down €21,757 (-20.8%), from €104,603 to €82,846
of which Furniture and vehicles: -€20,812
- Cash +€18,285
up €18,285 (+61.9%), from €29,539 to €47,824
mainly Net result for the year (+€112,804) and Debts after one year (+€63,382)
- Other debts -€118,464
down €118,464 (-57.9%), from €204,444 to €85,980
- Reserves +€110,140
up €110,140 (+45.5%), from €241,860 to €352,000
of which Distributable reserves: +€112,000
- Debts after one year +€63,382
up €63,382 (+65.4%), from €96,855 to €160,237
- Tax, wage and social debts +€45,628
up €45,628 (+363%), from €12,562 to €58,190
of which Taxes: +€35,607
- Current portion of long-term debt +€19,473
up €19,473 (+86.0%), from €22,647 to €42,120
- Gross operating margin +€127,266
up €127,266 (+269%), from €47,377 to €174,643
- Taxes +€22,760
up €22,760 (+205%), from €11,081 to €33,841
- Depreciation +€19,729
up €19,729 (+811%), from €2,434 to €22,163
- Other operating charges +€1,809
up €1,809 (+615%), from €294 to €2,103
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.
Derived cash bridge
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 | €631,082 | €765,990 | +€134,908 | +21.4% |
| Fixed assets | 21/28 | €192,427 | €170,264 | -€22,163 | -11.5% |
| Intangible fixed assets | 21 | €1,726 | €1,320 | -€406 | -23.5% |
| Tangible fixed assets | 22/27 | €104,603 | €82,846 | -€21,757 | -20.8% |
| Furniture and vehicles | 24 | €100,920 | €80,108 | -€20,812 | -20.6% |
| Other tangible fixed assets | 26 | €3,684 | €2,739 | -€945 | -25.7% |
| Financial fixed assets | 28 | €86,098 | €86,098 | = | 0.0% |
| Current assets | 29/58 | €438,655 | €595,726 | +€157,071 | +35.8% |
| Amounts receivable within one year | 40/41 | €409,116 | €546,225 | +€137,110 | +33.5% |
| Trade receivables | 40 | €132,609 | €113,608 | -€19,001 | -14.3% |
| Other amounts receivable | 41 | €276,507 | €432,618 | +€156,111 | +56.5% |
| Cash at bank and in hand | 54/58 | €29,539 | €47,824 | +€18,285 | +61.9% |
| Deferred charges and accrued income | 490/1 | - | €1,676 | +€1,676 | |
| Total equity and liabilities | 10/49 | €631,082 | €765,990 | +€134,908 | +21.4% |
| Equity | 10/15 | €291,674 | €404,478 | +€112,804 | +38.7% |
| Contributions | 10/11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Contributions outside capital | 11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Other | 1109/19 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Reserves | 13 | €241,860 | €352,000 | +€110,140 | +45.5% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €240,000 | €352,000 | +€112,000 | +46.7% |
| Profit (loss) carried forward | 14 | €31,214 | €32,018 | +€804 | +2.6% |
| Amounts payable | 17/49 | €339,408 | €361,512 | +€22,104 | +6.5% |
| Amounts payable after more than one year | 17 | €96,855 | €160,237 | +€63,382 | +65.4% |
| Financial debts | 170/4 | €96,855 | €160,237 | +€63,382 | +65.4% |
| Amounts payable within one year | 42/48 | €242,553 | €201,275 | -€41,278 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €22,647 | €42,120 | +€19,473 | +86.0% |
| Trade debts | 44 | €2,900 | €14,984 | +€12,085 | +417% |
| Suppliers | 440/4 | €2,900 | €14,984 | +€12,085 | +417% |
| Taxes, remuneration and social security | 45 | €12,562 | €58,190 | +€45,628 | +363% |
| Taxes | 450/3 | €12,562 | €48,168 | +€35,607 | +283% |
| Remuneration and social security | 454/9 | - | €10,022 | +€10,022 | |
| Other amounts payable | 47/48 | €204,444 | €85,980 | -€118,464 | -57.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,434 | €22,163 | +€19,729 | +811% |
| Other operating charges | 640/8 | €294 | €2,103 | +€1,809 | +615% |
| Gross operating margin | 9900 | €47,377 | €174,643 | +€127,266 | +269% |
| Operating profit (loss) | 9901 | €44,649 | €150,377 | +€105,728 | +237% |
| Financial income | 75/76B | €152 | - | -€152 | |
| Recurring financial income | 75 | €152 | - | -€152 | |
| Financial charges | 65/66B | €4,320 | €3,731 | -€589 | -13.6% |
| Recurring financial charges | 65 | €4,320 | €3,731 | -€589 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €40,480 | €146,646 | +€106,166 | +262% |
| Income taxes | 67/77 | €11,081 | €33,841 | +€22,760 | +205% |
| Profit (loss) for the period | 9904 | €29,399 | €112,804 | +€83,406 | +284% |
| Profit (loss) for the period to be appropriated | 9905 | €29,399 | €112,804 | +€83,406 | +284% |
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 21 October 2026 via checked.be.