RELATIVE IT: 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.
RELATIVE IT
Largest movements
- Cash +€32,978
up €32,978 (+111.7%), from €29,529 to €62,508
mainly Net result for the year (+€47,897) and Depreciation (+€8,943)
- Tangible fixed assets +€2,840
up €2,840 (+9.8%), from €28,995 to €31,835
of which Other tangible fixed assets: +€8,497
- Reserves +€48,000
up €48,000 (+92.3%), from €52,000 to €100,000
- Current portion of long-term debt -€15,578
down €15,578 (-75.0%), from €20,771 to €5,192
- Tax, wage and social debts +€8,013
up €8,013 (+55.3%), from €14,501 to €22,513
- Debts after one year -€5,192
down €5,192 (-34.0%), from €15,277 to €10,085
- Gross operating margin +€22,339
up €22,339 (+41.9%), from €53,361 to €75,700
- Taxes +€7,432
up €7,432 (+79.7%), from €9,321 to €16,752
- Depreciation +€1,246
up €1,246 (+16.2%), from €7,697 to €8,943
- Financial charges -€758
down €758 (-38.2%), from €1,984 to €1,227
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 | €110,674 | €147,021 | +€36,347 | +32.8% |
| Fixed assets | 21/28 | €81,145 | €83,985 | +€2,840 | +3.5% |
| Tangible fixed assets | 22/27 | €28,995 | €31,835 | +€2,840 | +9.8% |
| Furniture and vehicles | 24 | €28,995 | €23,338 | -€5,657 | -19.5% |
| Other tangible fixed assets | 26 | - | €8,497 | +€8,497 | |
| Financial fixed assets | 28 | €52,150 | €52,150 | = | 0.0% |
| Current assets | 29/58 | €29,529 | €63,036 | +€33,507 | +113.5% |
| Cash at bank and in hand | 54/58 | €29,529 | €62,508 | +€32,978 | +111.7% |
| Deferred charges and accrued income | 490/1 | - | €529 | +€529 | |
| Total equity and liabilities | 10/49 | €110,674 | €147,021 | +€36,347 | +32.8% |
| Equity | 10/15 | €57,819 | €105,716 | +€47,897 | +82.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €52,000 | €100,000 | +€48,000 | +92.3% |
| Distributable reserves | 133 | €52,000 | €100,000 | +€48,000 | +92.3% |
| Profit (loss) carried forward | 14 | €819 | €716 | -€103 | -12.5% |
| Amounts payable | 17/49 | €52,856 | €41,305 | -€11,550 | -21.9% |
| Amounts payable after more than one year | 17 | €15,277 | €10,085 | -€5,192 | -34.0% |
| Financial debts | 170/4 | €15,277 | €10,085 | -€5,192 | -34.0% |
| Amounts payable within one year | 42/48 | €37,578 | €31,220 | -€6,358 | -16.9% |
| Current portion of amounts payable after more than one year | 42 | €20,771 | €5,192 | -€15,578 | -75.0% |
| Trade debts | 44 | €1,084 | €2,267 | +€1,183 | +109.2% |
| Suppliers | 440/4 | €1,084 | €2,267 | +€1,183 | +109.2% |
| Taxes, remuneration and social security | 45 | €14,501 | €22,513 | +€8,013 | +55.3% |
| Taxes | 450/3 | €14,501 | €22,513 | +€8,013 | +55.3% |
| Other amounts payable | 47/48 | €1,224 | €1,248 | +€24 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,697 | €8,943 | +€1,246 | +16.2% |
| Other operating charges | 640/8 | €460 | €1,133 | +€673 | +146.2% |
| Gross operating margin | 9900 | €53,361 | €75,700 | +€22,339 | +41.9% |
| Operating profit (loss) | 9901 | €45,203 | €65,624 | +€20,421 | +45.2% |
| Financial income | 75/76B | €52 | €252 | +€201 | +389.7% |
| Recurring financial income | 75 | €52 | €252 | +€201 | +389.7% |
| Financial charges | 65/66B | €1,984 | €1,227 | -€758 | -38.2% |
| Recurring financial charges | 65 | €1,984 | €1,227 | -€758 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | €43,270 | €64,650 | +€21,379 | +49.4% |
| Income taxes | 67/77 | €9,321 | €16,752 | +€7,432 | +79.7% |
| Profit (loss) for the period | 9904 | €33,950 | €47,897 | +€13,948 | +41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,950 | €47,897 | +€13,948 | +41.1% |
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 28 September 2026 via checked.be.