Radar: 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.
Radar
Largest movements
- Receivables within one year +€71,736
up €71,736 (+63.1%), from €113,674 to €185,410
of which Trade receivables: +€63,566
- Tangible fixed assets +€33,628
up €33,628 (+3.2%), from €1.1m to €1.1m
of which Land and buildings: +€28,928
- Profit (loss) carried forward +€234,147
up €234,147 (+352.9%), from €66,350 to €300,497
- Debts after one year -€128,003
down €128,003 (-12.7%), from €1.0m to €882,976
- Trade debts -€44,991
down €44,991 (-27.9%), from €161,040 to €116,049
- Short-term financial debts +€28,450
new in 2025: €28,450
- Other debts +€21,480
up €21,480 (+17.6%), from €122,190 to €143,669
- Gross operating margin +€200,369
up €200,369 (+265.7%), from €75,413 to €275,782
- Financial income +€99,985
up €99,985 (+666566.7%), from €15 to €100,000
- Taxes +€31,060
new in 2025: €31,060
- Depreciation +€23,109
up €23,109 (+93.4%), from €24,737 to €47,847
- Financial charges +€13,632
up €13,632 (+32.4%), from €42,067 to €55,699
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 | €1,918,492 | €2,025,144 | +€106,652 | +5.6% |
| Fixed assets | 21/28 | €1,787,592 | €1,820,740 | +€33,148 | +1.9% |
| Tangible fixed assets | 22/27 | €1,060,112 | €1,093,740 | +€33,628 | +3.2% |
| Land and buildings | 22 | €1,060,112 | €1,089,040 | +€28,928 | +2.7% |
| Other tangible fixed assets | 26 | - | €4,700 | +€4,700 | |
| Financial fixed assets | 28 | €727,480 | €727,000 | -€480 | -0.1% |
| Current assets | 29/58 | €130,900 | €204,405 | +€73,504 | +56.2% |
| Amounts receivable within one year | 40/41 | €113,674 | €185,410 | +€71,736 | +63.1% |
| Trade receivables | 40 | €100,000 | €163,566 | +€63,566 | +63.6% |
| Other amounts receivable | 41 | €13,674 | €21,844 | +€8,170 | +59.7% |
| Cash at bank and in hand | 54/58 | €16,516 | €18,833 | +€2,317 | +14.0% |
| Deferred charges and accrued income | 490/1 | €710 | €162 | -€548 | -77.2% |
| Total equity and liabilities | 10/49 | €1,918,492 | €2,025,144 | +€106,652 | +5.6% |
| Equity | 10/15 | €491,850 | €725,997 | +€234,147 | +47.6% |
| Contributions | 10/11 | €425,500 | €425,500 | = | 0.0% |
| Capital | 10 | €425,500 | €425,500 | = | 0.0% |
| Issued capital | 100 | €425,500 | €425,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,350 | €300,497 | +€234,147 | +352.9% |
| Amounts payable | 17/49 | €1,426,642 | €1,299,147 | -€127,495 | -8.9% |
| Amounts payable after more than one year | 17 | €1,010,978 | €882,976 | -€128,003 | -12.7% |
| Financial debts | 170/4 | €1,010,978 | €882,976 | -€128,003 | -12.7% |
| Amounts payable within one year | 42/48 | €415,664 | €416,172 | +€508 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €123,898 | €128,003 | +€4,105 | +3.3% |
| Financial debts | 43 | - | €28,450 | +€28,450 | |
| Credit institutions | 430/8 | - | €28,450 | +€28,450 | |
| Trade debts | 44 | €161,040 | €116,049 | -€44,991 | -27.9% |
| Suppliers | 440/4 | €161,040 | €116,049 | -€44,991 | -27.9% |
| Taxes, remuneration and social security | 45 | €8,537 | - | -€8,537 | |
| Taxes | 450/3 | €8,537 | - | -€8,537 | |
| Other amounts payable | 47/48 | €122,190 | €143,669 | +€21,480 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,737 | €47,847 | +€23,109 | +93.4% |
| Other operating charges | 640/8 | €6,551 | €7,029 | +€478 | +7.3% |
| Gross operating margin | 9900 | €75,413 | €275,782 | +€200,369 | +265.7% |
| Operating profit (loss) | 9901 | €44,125 | €220,906 | +€176,782 | +400.6% |
| Financial income | 75/76B | €15 | €100,000 | +€99,985 | +666566.7% |
| Recurring financial income | 75 | €15 | €100,000 | +€99,985 | +666566.7% |
| Financial charges | 65/66B | €42,067 | €55,699 | +€13,632 | +32.4% |
| Recurring financial charges | 65 | €42,067 | €55,699 | +€13,632 | +32.4% |
| Profit (loss) for the period before taxes | 9903 | €2,073 | €265,207 | +€263,135 | +12695.4% |
| Income taxes | 67/77 | - | €31,060 | +€31,060 | |
| Profit (loss) for the period | 9904 | €2,073 | €234,147 | +€232,075 | +11196.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,073 | €234,147 | +€232,075 | +11196.9% |
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 5 October 2026 via checked.be.