R12: 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.
R12
Largest movements
- Receivables within one year +€13,691
up €13,691 (+978.4%), from €1,399 to €15,091
- Cash +€9,739
up €9,739 (+12.2%), from €79,634 to €89,373
mainly Net result for the year (+€38,633) and Other debts (+€16,750)
- Tangible fixed assets +€6,642
up €6,642 (+119.3%), from €5,567 to €12,210
of which Furniture and vehicles: +€9,297
- Intangible fixed assets -€1,501
down €1,501 (-72.3%), from €2,077 to €576
- Other debts +€16,750
up €16,750 (+78.8%), from €21,250 to €38,000
- Trade debts +€8,101
up €8,101 (+42.2%), from €19,218 to €27,319
- Tax, wage and social debts +€2,811
up €2,811 (+18.1%), from €15,508 to €18,318
of which Taxes: +€5,624
- Staff costs -€22,052
down €22,052 (-33.4%), from €66,020 to €43,968
- Taxes +€18,496
up €18,496 (+372.1%), from €4,971 to €23,468
- Gross operating margin -€10,688
down €10,688 (-8.5%), from €125,577 to €114,889
- Other operating charges -€3,827
down €3,827 (-73.7%), from €5,191 to €1,365
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 | €93,530 | €121,640 | +€28,109 | +30.1% |
| Fixed assets | 21/28 | €8,044 | €13,185 | +€5,141 | +63.9% |
| Intangible fixed assets | 21 | €2,077 | €576 | -€1,501 | -72.3% |
| Tangible fixed assets | 22/27 | €5,567 | €12,210 | +€6,642 | +119.3% |
| Furniture and vehicles | 24 | €1,681 | €10,978 | +€9,297 | +553.1% |
| Other tangible fixed assets | 26 | €3,886 | €1,232 | -€2,655 | -68.3% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €85,486 | €108,454 | +€22,968 | +26.9% |
| Stocks and contracts in progress | 3 | €2,105 | €1,166 | -€939 | -44.6% |
| Stocks | 30/36 | €2,105 | €1,166 | -€939 | -44.6% |
| Amounts receivable within one year | 40/41 | €1,399 | €15,091 | +€13,691 | +978.4% |
| Other amounts receivable | 41 | €1,399 | €15,091 | +€13,691 | +978.4% |
| Cash at bank and in hand | 54/58 | €79,634 | €89,373 | +€9,739 | +12.2% |
| Deferred charges and accrued income | 490/1 | €2,348 | €2,824 | +€477 | +20.3% |
| Total equity and liabilities | 10/49 | €93,530 | €121,640 | +€28,109 | +30.1% |
| Equity | 10/15 | €37,369 | €38,003 | +€633 | +1.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,964 | €17,598 | +€633 | +3.7% |
| Amounts payable | 17/49 | €56,161 | €83,637 | +€27,476 | +48.9% |
| Amounts payable within one year | 42/48 | €55,975 | €83,637 | +€27,661 | +49.4% |
| Trade debts | 44 | €19,218 | €27,319 | +€8,101 | +42.2% |
| Suppliers | 440/4 | €19,218 | €27,319 | +€8,101 | +42.2% |
| Taxes, remuneration and social security | 45 | €15,508 | €18,318 | +€2,811 | +18.1% |
| Taxes | 450/3 | €7,848 | €13,473 | +€5,624 | +71.7% |
| Remuneration and social security | 454/9 | €7,659 | €4,846 | -€2,814 | -36.7% |
| Other amounts payable | 47/48 | €21,250 | €38,000 | +€16,750 | +78.8% |
| Accrued charges and deferred income | 492/3 | €186 | - | -€186 | |
| Remuneration, social security and pensions | 62 | €66,020 | €43,968 | -€22,052 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,191 | €5,088 | -€104 | -2.0% |
| Other operating charges | 640/8 | €5,191 | €1,365 | -€3,827 | -73.7% |
| Gross operating margin | 9900 | €125,577 | €114,889 | -€10,688 | -8.5% |
| Operating profit (loss) | 9901 | €49,175 | €64,469 | +€15,294 | +31.1% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,684 | €2,368 | -€316 | -11.8% |
| Recurring financial charges | 65 | €2,558 | €2,333 | -€225 | -8.8% |
| Non-recurring financial charges | 66B | €126 | €35 | -€91 | -72.3% |
| Profit (loss) for the period before taxes | 9903 | €46,491 | €62,101 | +€15,611 | +33.6% |
| Income taxes | 67/77 | €4,971 | €23,468 | +€18,496 | +372.1% |
| Profit (loss) for the period | 9904 | €41,519 | €38,633 | -€2,886 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €41,519 | €38,633 | -€2,886 | -7.0% |
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.