RECTO-VERSO: 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.
RECTO-VERSO
Largest movements
- Cash +€32,970
up €32,970 (+21.5%), from €153,027 to €185,997
mainly Net result for the year (+€34,359) and Tax, wage and social debts (+€6,191)
- Receivables within one year -€4,382
down €4,382 (-94.6%), from €4,634 to €252
- Reserves +€34,359
up €34,359 (+28.8%), from €119,417 to €153,776
of which Distributable reserves: +€34,359
- Trade debts -€16,565
down €16,565 (-51.5%), from €32,134 to €15,569
- Tax, wage and social debts +€6,191
up €6,191 (+84.0%), from €7,374 to €13,565
- Gross operating margin +€54,177
up €54,177, from -€5,315 to €48,862
- Taxes +€12,667
up €12,667 (+9047.9%), from €140 to €12,807
- Financial income -€646
down €646 (-76.8%), from €841 to €195
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 | €275,040 | €301,709 | +€26,669 | +9.7% |
| Fixed assets | 21/28 | €1,919 | - | -€1,919 | |
| Financial fixed assets | 28 | €1,919 | - | -€1,919 | |
| Current assets | 29/58 | €273,121 | €301,709 | +€28,588 | +10.5% |
| Stocks and contracts in progress | 3 | €115,460 | €115,460 | = | 0.0% |
| Stocks | 30/36 | €115,460 | €115,460 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,634 | €252 | -€4,382 | -94.6% |
| Other amounts receivable | 41 | €4,634 | €252 | -€4,382 | -94.6% |
| Cash at bank and in hand | 54/58 | €153,027 | €185,997 | +€32,970 | +21.5% |
| Total equity and liabilities | 10/49 | €275,040 | €301,709 | +€26,669 | +9.7% |
| Equity | 10/15 | €138,009 | €172,368 | +€34,359 | +24.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €119,417 | €153,776 | +€34,359 | +28.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €117,557 | €151,916 | +€34,359 | +29.2% |
| Amounts payable | 17/49 | €137,031 | €129,341 | -€7,690 | -5.6% |
| Amounts payable within one year | 42/48 | €137,031 | €129,341 | -€7,690 | -5.6% |
| Trade debts | 44 | €32,134 | €15,569 | -€16,565 | -51.5% |
| Suppliers | 440/4 | €32,134 | €15,569 | -€16,565 | -51.5% |
| Taxes, remuneration and social security | 45 | €7,374 | €13,565 | +€6,191 | +84.0% |
| Taxes | 450/3 | €7,374 | €13,565 | +€6,191 | +84.0% |
| Other amounts payable | 47/48 | €97,523 | €100,207 | +€2,684 | +2.8% |
| Other operating charges | 640/8 | €790 | €802 | +€12 | +1.5% |
| Gross operating margin | 9900 | -€5,315 | €48,862 | +€54,177 | |
| Operating profit (loss) | 9901 | -€6,105 | €48,060 | +€54,165 | |
| Financial income | 75/76B | €841 | €195 | -€646 | -76.8% |
| Recurring financial income | 75 | €841 | €195 | -€646 | -76.8% |
| Financial charges | 65/66B | €629 | €1,089 | +€460 | +73.1% |
| Recurring financial charges | 65 | €629 | €1,089 | +€460 | +73.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,893 | €47,166 | +€53,059 | |
| Income taxes | 67/77 | €140 | €12,807 | +€12,667 | +9047.9% |
| Profit (loss) for the period | 9904 | -€6,033 | €34,359 | +€40,392 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,033 | €34,359 | +€40,392 |
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 10 October 2026 via checked.be.