RE-ADJUST: 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.
RE-ADJUST
Largest movements
- Cash +€33,246
up €33,246 (+38.3%), from €86,827 to €120,073
mainly Net result for the year (+€98,445) and Other debts (+€42,433)
- Tangible fixed assets -€10,478
down €10,478 (-31.4%), from €33,332 to €22,854
- Deferred charges and accrued income -€3,086
down €3,086 (-100%), from €3,086 to €0
- Intangible fixed assets +€2,470
up €2,470 (+71.3%), from €3,466 to €5,935
- Other debts +€42,433
up €42,433 (+45.2%), from €93,914 to €136,347
- Debts after one year -€10,453
down €10,453 (-100%), from €10,453 to €0
- Trade debts -€9,806
down €9,806 (-94.4%), from €10,386 to €580
- Reserves +€8,445
new in 2025: €8,445
- Tax, wage and social debts -€5,137
down €5,137 (-41.6%), from €12,358 to €7,221
- Gross operating margin +€41,980
up €41,980 (+42.3%), from €99,131 to €141,111
- Taxes +€10,538
up €10,538 (+51.9%), from €20,313 to €30,851
- Financial income +€4,265
up €4,265 (+2,216%), from €193 to €4,458
of which Non-recurring financial income: +€4,111
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 | €159,488 | €181,596 | +€22,107 | +13.9% |
| Fixed assets | 21/28 | €36,798 | €28,790 | -€8,008 | -21.8% |
| Intangible fixed assets | 21 | €3,466 | €5,935 | +€2,470 | +71.3% |
| Tangible fixed assets | 22/27 | €33,332 | €22,854 | -€10,478 | -31.4% |
| Furniture and vehicles | 24 | €33,332 | €22,854 | -€10,478 | -31.4% |
| Current assets | 29/58 | €122,691 | €152,806 | +€30,115 | +24.5% |
| Amounts receivable within one year | 40/41 | €32,778 | €32,734 | -€44 | -0.1% |
| Trade receivables | 40 | €5,039 | €31,661 | +€26,622 | +528% |
| Other amounts receivable | 41 | €27,738 | €1,072 | -€26,666 | -96.1% |
| Cash at bank and in hand | 54/58 | €86,827 | €120,073 | +€33,246 | +38.3% |
| Deferred charges and accrued income | 490/1 | €3,086 | €0 | -€3,086 | -100% |
| Total equity and liabilities | 10/49 | €159,488 | €181,596 | +€22,107 | +13.9% |
| Equity | 10/15 | €18,550 | €26,995 | +€8,445 | +45.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | - | €8,445 | +€8,445 | |
| Distributable reserves | 133 | - | €8,445 | +€8,445 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €140,938 | €154,600 | +€13,662 | +9.7% |
| Amounts payable after more than one year | 17 | €10,453 | €0 | -€10,453 | -100% |
| Financial debts | 170/4 | €10,453 | €0 | -€10,453 | -100% |
| Amounts payable within one year | 42/48 | €130,485 | €154,600 | +€24,115 | +18.5% |
| Current portion of amounts payable after more than one year | 42 | €13,828 | €10,453 | -€3,375 | -24.4% |
| Trade debts | 44 | €10,386 | €580 | -€9,806 | -94.4% |
| Suppliers | 440/4 | €10,386 | €580 | -€9,806 | -94.4% |
| Taxes, remuneration and social security | 45 | €12,358 | €7,221 | -€5,137 | -41.6% |
| Taxes | 450/3 | €12,358 | €7,221 | -€5,137 | -41.6% |
| Other amounts payable | 47/48 | €93,914 | €136,347 | +€42,433 | +45.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,618 | €14,425 | +€807 | +5.9% |
| Other operating charges | 640/8 | €1,606 | €1,417 | -€189 | -11.8% |
| Gross operating margin | 9900 | €99,131 | €141,111 | +€41,980 | +42.3% |
| Operating profit (loss) | 9901 | €83,907 | €125,269 | +€41,362 | +49.3% |
| Financial income | 75/76B | €193 | €4,458 | +€4,265 | +2,216% |
| Recurring financial income | 75 | €193 | €347 | +€154 | +80.2% |
| Non-recurring financial income | 76B | - | €4,111 | +€4,111 | |
| Financial charges | 65/66B | €694 | €430 | -€263 | -38.0% |
| Recurring financial charges | 65 | €694 | €430 | -€263 | -38.0% |
| Profit (loss) for the period before taxes | 9903 | €83,406 | €129,297 | +€45,890 | +55.0% |
| Income taxes | 67/77 | €20,313 | €30,851 | +€10,538 | +51.9% |
| Profit (loss) for the period | 9904 | €63,093 | €98,445 | +€35,352 | +56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €63,093 | €98,445 | +€35,352 | +56.0% |
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 28 October 2026 via checked.be.