Real Results: what changed
Real Results
Largest movements
- Cash +€18,797
up €18,797 (+3,094%), from €608 to €19,404
mainly Other debts (+€8,742) and Depreciation (+€6,335)
- Tangible fixed assets -€6,335
down €6,335 (-23.4%), from €27,038 to €20,702
- Receivables within one year +€1,817
up €1,817 (+32.8%), from €5,545 to €7,363
of which Trade receivables: +€6,499
- Deferred charges and accrued income +€1,489
up €1,489 (+326%), from €457 to €1,946
- Other debts +€8,742
up €8,742 (+869%), from €1,006 to €9,748
- Profit (loss) carried forward +€4,607
up €4,607 (+16.0%), from -€28,839 to -€24,232
- Debts after one year -€4,389
down €4,389 (-29.5%), from €14,898 to €10,508
- Tax, wage and social debts +€3,633
up €3,633 (+1,573%), from €231 to €3,864
- Accrued charges and deferred income +€3,160
new in 2025: €3,160
- Gross operating margin +€35,220
up €35,220, from -€22,836 to €12,384
- Depreciation +€1,656
up €1,656 (+35.4%), from €4,679 to €6,335
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,648 | €49,415 | +€15,768 | +46.9% |
| Fixed assets | 21/28 | €27,038 | €20,702 | -€6,335 | -23.4% |
| Tangible fixed assets | 22/27 | €27,038 | €20,702 | -€6,335 | -23.4% |
| Leasing and similar rights | 25 | €27,038 | €20,702 | -€6,335 | -23.4% |
| Current assets | 29/58 | €6,610 | €28,713 | +€22,103 | +334% |
| Amounts receivable within one year | 40/41 | €5,545 | €7,363 | +€1,817 | +32.8% |
| Trade receivables | 40 | - | €6,499 | +€6,499 | |
| Other amounts receivable | 41 | €5,545 | €864 | -€4,682 | -84.4% |
| Cash at bank and in hand | 54/58 | €608 | €19,404 | +€18,797 | +3,094% |
| Deferred charges and accrued income | 490/1 | €457 | €1,946 | +€1,489 | +326% |
| Total equity and liabilities | 10/49 | €33,648 | €49,415 | +€15,768 | +46.9% |
| Equity | 10/15 | €4,455 | €9,062 | +€4,607 | +103% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €27,094 | €27,094 | = | 0.0% |
| Distributable reserves | 133 | €27,094 | €27,094 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,839 | -€24,232 | +€4,607 | +16.0% |
| Amounts payable | 17/49 | €29,193 | €40,353 | +€11,160 | +38.2% |
| Amounts payable after more than one year | 17 | €14,898 | €10,508 | -€4,389 | -29.5% |
| Financial debts | 170/4 | €14,898 | €10,508 | -€4,389 | -29.5% |
| Amounts payable within one year | 42/48 | €14,295 | €26,685 | +€12,390 | +86.7% |
| Current portion of amounts payable after more than one year | 42 | €5,578 | €4,389 | -€1,188 | -21.3% |
| Trade debts | 44 | €7,481 | €8,684 | +€1,203 | +16.1% |
| Suppliers | 440/4 | €7,481 | €8,684 | +€1,203 | +16.1% |
| Taxes, remuneration and social security | 45 | €231 | €3,864 | +€3,633 | +1,573% |
| Taxes | 450/3 | €231 | €3,864 | +€3,633 | +1,573% |
| Other amounts payable | 47/48 | €1,006 | €9,748 | +€8,742 | +869% |
| Accrued charges and deferred income | 492/3 | - | €3,160 | +€3,160 | |
| Non-recurring operating income | 76A | €14,268 | - | -€14,268 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,679 | €6,335 | +€1,656 | +35.4% |
| Other operating charges | 640/8 | €412 | €433 | +€21 | +5.1% |
| Gross operating margin | 9900 | -€22,836 | €12,384 | +€35,220 | |
| Operating profit (loss) | 9901 | -€27,927 | €5,616 | +€33,543 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €802 | €873 | +€71 | +8.9% |
| Recurring financial charges | 65 | €802 | €873 | +€71 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | -€28,729 | €4,744 | +€33,473 | |
| Income taxes | 67/77 | €110 | €136 | +€26 | +24.0% |
| Profit (loss) for the period | 9904 | -€28,839 | €4,607 | +€33,446 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,839 | €4,607 | +€33,446 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.