REFPOINT: 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.
REFPOINT
Largest movements
- Cash +€49,126
up €49,126 (+80.9%), from €60,710 to €109,836
mainly Net result for the year (+€64,840) and Other debts (+€47,851)
- Receivables within one year +€22,178
up €22,178 (+169.1%), from €13,112 to €35,290
of which Trade receivables: +€22,954
- Tangible fixed assets +€6,540
up €6,540 (+382.8%), from €1,708 to €8,248
of which Other tangible fixed assets: +€4,486
- Deferred charges and accrued income -€5,660
down €5,660 (-100.0%), from €5,660 to €0
- Other debts +€47,851
up €47,851 (+63.4%), from €75,496 to €123,347
- Tax, wage and social debts +€18,411
up €18,411, from €0 to €18,411
- Profit (loss) carried forward +€9,840
up €9,840, from €0 to €9,840
- Current portion of long-term debt -€4,451
down €4,451 (-100.0%), from €4,451 to €0
- Gross operating margin +€7,143
up €7,143 (+9.9%), from €72,251 to €79,394
- Taxes -€3,118
down €3,118 (-21.3%), from €14,620 to €11,502
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 | €81,190 | €153,374 | +€72,184 | +88.9% |
| Fixed assets | 21/28 | €1,708 | €8,248 | +€6,540 | +382.8% |
| Tangible fixed assets | 22/27 | €1,708 | €8,248 | +€6,540 | +382.8% |
| Furniture and vehicles | 24 | €1,708 | €3,762 | +€2,054 | +120.2% |
| Other tangible fixed assets | 26 | - | €4,486 | +€4,486 | |
| Current assets | 29/58 | €79,482 | €145,126 | +€65,644 | +82.6% |
| Amounts receivable within one year | 40/41 | €13,112 | €35,290 | +€22,178 | +169.1% |
| Trade receivables | 40 | €11,871 | €34,825 | +€22,954 | +193.4% |
| Other amounts receivable | 41 | €1,241 | €465 | -€775 | -62.5% |
| Cash at bank and in hand | 54/58 | €60,710 | €109,836 | +€49,126 | +80.9% |
| Deferred charges and accrued income | 490/1 | €5,660 | €0 | -€5,660 | -100.0% |
| Total equity and liabilities | 10/49 | €81,190 | €153,374 | +€72,184 | +88.9% |
| Equity | 10/15 | €0 | €9,840 | +€9,840 | |
| Contributions | 10/11 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €9,840 | +€9,840 | |
| Amounts payable | 17/49 | €81,190 | €143,534 | +€62,344 | +76.8% |
| Amounts payable within one year | 42/48 | €81,190 | €143,534 | +€62,344 | +76.8% |
| Current portion of amounts payable after more than one year | 42 | €4,451 | €0 | -€4,451 | -100.0% |
| Trade debts | 44 | €1,244 | €1,775 | +€532 | +42.8% |
| Suppliers | 440/4 | €1,244 | €1,775 | +€532 | +42.8% |
| Taxes, remuneration and social security | 45 | €0 | €18,411 | +€18,411 | |
| Taxes | 450/3 | €0 | €18,411 | +€18,411 | |
| Other amounts payable | 47/48 | €75,496 | €123,347 | +€47,851 | +63.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €686 | +€686 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €950 | €1,337 | +€387 | +40.7% |
| Other operating charges | 640/8 | €910 | €818 | -€92 | -10.2% |
| Gross operating margin | 9900 | €72,251 | €79,394 | +€7,143 | +9.9% |
| Operating profit (loss) | 9901 | €70,391 | €76,553 | +€6,162 | +8.8% |
| Financial income | 75/76B | €283 | €38 | -€245 | -86.6% |
| Recurring financial income | 75 | €283 | €38 | -€245 | -86.6% |
| Financial charges | 65/66B | €190 | €249 | +€59 | +30.8% |
| Recurring financial charges | 65 | €190 | €249 | +€59 | +30.8% |
| Profit (loss) for the period before taxes | 9903 | €70,484 | €76,342 | +€5,858 | +8.3% |
| Income taxes | 67/77 | €14,620 | €11,502 | -€3,118 | -21.3% |
| Profit (loss) for the period | 9904 | €55,864 | €64,840 | +€8,976 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €55,864 | €64,840 | +€8,976 | +16.1% |
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 7 October 2026 via checked.be.