Reflejo: 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.
Reflejo
Largest movements
- Tangible fixed assets -€2,700
down €2,700 (-20.2%), from €13,375 to €10,675
of which Furniture and vehicles: -€2,994
- Cash +€2,429
up €2,429 (+45.2%), from €5,373 to €7,801
mainly Net result for the year (+€4,913) and Tax, wage and social debts (+€3,960)
- Receivables within one year +€2,246
up €2,246 (+20.7%), from €10,830 to €13,076
of which Trade receivables: +€1,680
- Deferred charges and accrued income +€365
up €365 (+52.0%), from €702 to €1,067
- Tax, wage and social debts +€3,960
up €3,960 (+111%), from €3,558 to €7,518
of which Taxes: +€3,210
- Reserves +€3,549
up €3,549 (+25.5%), from €13,892 to €17,441
- Debts after one year -€3,523
no longer reported in 2025 (was €3,523)
- Current portion of long-term debt -€3,249
down €3,249 (-48.0%), from €6,773 to €3,523
- Profit (loss) carried forward +€1,364
no longer reported in 2025 (was -€1,364)
- Gross operating margin +€8,467
up €8,467 (+178%), from €4,746 to €13,213
- Taxes +€1,793
up €1,793 (+125%), from €1,429 to €3,222
- Depreciation +€1,406
up €1,406 (+80.2%), from €1,753 to €3,159
- Financial charges -€667
down €667 (-54.4%), from €1,226 to €558
- Other operating charges +€271
up €271 (+22.1%), from €1,228 to €1,499
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 | €30,280 | €32,620 | +€2,340 | +7.7% |
| Fixed assets | 21/28 | €13,375 | €10,675 | -€2,700 | -20.2% |
| Tangible fixed assets | 22/27 | €13,375 | €10,675 | -€2,700 | -20.2% |
| Plant, machinery and equipment | 23 | €23 | €318 | +€294 | +1,263% |
| Furniture and vehicles | 24 | €13,352 | €10,357 | -€2,994 | -22.4% |
| Current assets | 29/58 | €16,905 | €21,945 | +€5,040 | +29.8% |
| Amounts receivable within one year | 40/41 | €10,830 | €13,076 | +€2,246 | +20.7% |
| Trade receivables | 40 | €7,727 | €9,406 | +€1,680 | +21.7% |
| Other amounts receivable | 41 | €3,104 | €3,670 | +€566 | +18.3% |
| Cash at bank and in hand | 54/58 | €5,373 | €7,801 | +€2,429 | +45.2% |
| Deferred charges and accrued income | 490/1 | €702 | €1,067 | +€365 | +52.0% |
| Total equity and liabilities | 10/49 | €30,280 | €32,620 | +€2,340 | +7.7% |
| Equity | 10/15 | €15,528 | €20,441 | +€4,913 | +31.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €13,892 | €17,441 | +€3,549 | +25.5% |
| Distributable reserves | 133 | €13,892 | €17,441 | +€3,549 | +25.5% |
| Profit (loss) carried forward | 14 | -€1,364 | - | +€1,364 | |
| Amounts payable | 17/49 | €14,752 | €12,179 | -€2,573 | -17.4% |
| Amounts payable after more than one year | 17 | €3,523 | - | -€3,523 | |
| Financial debts | 170/4 | €3,523 | - | -€3,523 | |
| Amounts payable within one year | 42/48 | €11,229 | €12,179 | +€951 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €6,773 | €3,523 | -€3,249 | -48.0% |
| Trade debts | 44 | €898 | €1,138 | +€240 | +26.7% |
| Suppliers | 440/4 | €898 | €1,138 | +€240 | +26.7% |
| Taxes, remuneration and social security | 45 | €3,558 | €7,518 | +€3,960 | +111% |
| Taxes | 450/3 | €3,558 | €6,768 | +€3,210 | +90.2% |
| Remuneration and social security | 454/9 | - | €750 | +€750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,753 | €3,159 | +€1,406 | +80.2% |
| Other operating charges | 640/8 | €1,228 | €1,499 | +€271 | +22.1% |
| Gross operating margin | 9900 | €4,746 | €13,213 | +€8,467 | +178% |
| Operating profit (loss) | 9901 | €1,765 | €8,555 | +€6,790 | +385% |
| Financial income | 75/76B | €124 | €138 | +€13 | +10.8% |
| Recurring financial income | 75 | €124 | €138 | +€13 | +10.8% |
| Financial charges | 65/66B | €1,226 | €558 | -€667 | -54.4% |
| Recurring financial charges | 65 | €1,226 | €558 | -€667 | -54.4% |
| Profit (loss) for the period before taxes | 9903 | €664 | €8,135 | +€7,471 | +1,125% |
| Income taxes | 67/77 | €1,429 | €3,222 | +€1,793 | +125% |
| Profit (loss) for the period | 9904 | -€765 | €4,913 | +€5,678 | |
| Profit (loss) for the period to be appropriated | 9905 | -€765 | €4,913 | +€5,678 |
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 31 October 2026 via checked.be.