Razorblade: 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.
Razorblade
Largest movements
- Receivables within one year +€61,454
up €61,454 (+199.6%), from €30,788 to €92,242
of which Other amounts receivable: +€30,963
- Cash -€3,173
down €3,173 (-44.5%), from €7,130 to €3,956
mainly Receivables within one year (-€61,454) and Contributions, distributions and other (-€37,250)
- Tangible fixed assets +€1,748
up €1,748 (+44.9%), from €3,890 to €5,638
- Reserves +€26,171
up €26,171 (+3758.7%), from €696 to €26,867
- Other debts +€23,333
up €23,333 (+167.7%), from €13,917 to €37,250
- Tax, wage and social debts +€5,243
up €5,243 (+175.9%), from €2,981 to €8,224
- Trade debts +€4,568
up €4,568 (+128.4%), from €3,559 to €8,127
- Gross operating margin +€83,201
up €83,201 (+86084.3%), from €97 to €83,297
- Taxes +€17,504
up €17,504 (+5113.5%), from €342 to €17,846
- Depreciation -€1,647
down €1,647 (-44.3%), from €3,715 to €2,068
- Financial income +€1,420
up €1,420 (+4832.4%), from €29 to €1,450
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 | €42,213 | €101,836 | +€59,623 | +141.2% |
| Fixed assets | 21/28 | €3,890 | €5,638 | +€1,748 | +44.9% |
| Tangible fixed assets | 22/27 | €3,890 | €5,638 | +€1,748 | +44.9% |
| Furniture and vehicles | 24 | €3,890 | €5,638 | +€1,748 | +44.9% |
| Current assets | 29/58 | €38,323 | €96,198 | +€57,875 | +151.0% |
| Amounts receivable within one year | 40/41 | €30,788 | €92,242 | +€61,454 | +199.6% |
| Trade receivables | 40 | €23,685 | €54,175 | +€30,490 | +128.7% |
| Other amounts receivable | 41 | €7,103 | €38,066 | +€30,963 | +435.9% |
| Cash at bank and in hand | 54/58 | €7,130 | €3,956 | -€3,173 | -44.5% |
| Deferred charges and accrued income | 490/1 | €405 | €0 | -€405 | -100.0% |
| Total equity and liabilities | 10/49 | €42,213 | €101,836 | +€59,623 | +141.2% |
| Equity | 10/15 | €19,296 | €45,467 | +€26,171 | +135.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €696 | €26,867 | +€26,171 | +3758.7% |
| Distributable reserves | 133 | €696 | €26,867 | +€26,171 | +3758.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €22,916 | €56,369 | +€33,452 | +146.0% |
| Amounts payable within one year | 42/48 | €22,916 | €56,369 | +€33,452 | +146.0% |
| Financial debts | 43 | €2,459 | €2,768 | +€309 | +12.5% |
| Credit institutions | 430/8 | €2,459 | €2,768 | +€309 | +12.5% |
| Trade debts | 44 | €3,559 | €8,127 | +€4,568 | +128.4% |
| Suppliers | 440/4 | €3,559 | €8,127 | +€4,568 | +128.4% |
| Taxes, remuneration and social security | 45 | €2,981 | €8,224 | +€5,243 | +175.9% |
| Taxes | 450/3 | €2,981 | €8,224 | +€5,243 | +175.9% |
| Other amounts payable | 47/48 | €13,917 | €37,250 | +€23,333 | +167.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,715 | €2,068 | -€1,647 | -44.3% |
| Other operating charges | 640/8 | €1,689 | €981 | -€708 | -41.9% |
| Gross operating margin | 9900 | €97 | €83,297 | +€83,201 | +86084.3% |
| Operating profit (loss) | 9901 | -€5,307 | €80,248 | +€85,556 | |
| Financial income | 75/76B | €29 | €1,450 | +€1,420 | +4832.4% |
| Recurring financial income | 75 | €29 | €1,450 | +€1,420 | +4832.4% |
| Financial charges | 65/66B | €458 | €431 | -€27 | -5.9% |
| Recurring financial charges | 65 | €458 | €431 | -€27 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | -€5,736 | €81,267 | +€87,003 | |
| Income taxes | 67/77 | €342 | €17,846 | +€17,504 | +5113.5% |
| Profit (loss) for the period | 9904 | -€6,078 | €63,421 | +€69,499 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,078 | €63,421 | +€69,499 |
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 8 October 2026 via checked.be.