Rational: 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.
Rational
Largest movements
- Receivables within one year +€128,650
up €128,650 (+37.3%), from €344,935 to €473,584
of which Other amounts receivable: +€136,465
- Trade debts +€66,528
up €66,528 (+618.1%), from €10,763 to €77,290
- Tax, wage and social debts +€55,024
up €55,024 (+35.1%), from €156,796 to €211,820
of which Taxes: +€31,190
- Profit (loss) carried forward +€7,602
up €7,602 (+11.0%), from €69,260 to €76,862
- Staff costs -€94,383
down €94,383 (-9.3%), from €1.0m to €916,045
- Gross operating margin -€85,743
down €85,743 (-8.5%), from €1.0m to €926,933
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 | €345,019 | €474,173 | +€129,153 | +37.4% |
| Current assets | 29/58 | €345,019 | €474,173 | +€129,153 | +37.4% |
| Amounts receivable within one year | 40/41 | €344,935 | €473,584 | +€128,650 | +37.3% |
| Trade receivables | 40 | €26,415 | €18,600 | -€7,815 | -29.6% |
| Other amounts receivable | 41 | €318,520 | €454,984 | +€136,465 | +42.8% |
| Cash at bank and in hand | 54/58 | €85 | €588 | +€503 | +593.3% |
| Total equity and liabilities | 10/49 | €345,019 | €474,173 | +€129,153 | +37.4% |
| Equity | 10/15 | €177,460 | €185,062 | +€7,602 | +4.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €46,200 | €46,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,260 | €76,862 | +€7,602 | +11.0% |
| Amounts payable | 17/49 | €167,559 | €289,111 | +€121,552 | +72.5% |
| Amounts payable within one year | 42/48 | €167,559 | €289,111 | +€121,552 | +72.5% |
| Trade debts | 44 | €10,763 | €77,290 | +€66,528 | +618.1% |
| Suppliers | 440/4 | €10,763 | €77,290 | +€66,528 | +618.1% |
| Taxes, remuneration and social security | 45 | €156,796 | €211,820 | +€55,024 | +35.1% |
| Taxes | 450/3 | €39,464 | €70,654 | +€31,190 | +79.0% |
| Remuneration and social security | 454/9 | €117,332 | €141,166 | +€23,834 | +20.3% |
| Remuneration, social security and pensions | 62 | €1,010,428 | €916,045 | -€94,383 | -9.3% |
| Other operating charges | 640/8 | €386 | €188 | -€198 | -51.3% |
| Gross operating margin | 9900 | €1,012,676 | €926,933 | -€85,743 | -8.5% |
| Operating profit (loss) | 9901 | €1,862 | €10,700 | +€8,838 | +474.6% |
| Financial income | 75/76B | - | €2,197 | +€2,197 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €2,197 | +€2,197 | |
| Financial charges | 65/66B | €22 | €1,007 | +€986 | +4568.9% |
| Recurring financial charges | 65 | €22 | €1,007 | +€986 | +4568.9% |
| Profit (loss) for the period before taxes | 9903 | €1,841 | €11,891 | +€10,050 | +546.0% |
| Income taxes | 67/77 | €1,764 | €4,289 | +€2,524 | +143.1% |
| Profit (loss) for the period | 9904 | €76 | €7,602 | +€7,526 | +9874.7% |
| Profit (loss) for the period to be appropriated | 9905 | €76 | €7,602 | +€7,526 | +9874.7% |
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.