RESOURCES: 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.
RESOURCES
Largest movements
- Tangible fixed assets +€56,788
up €56,788 (+299.3%), from €18,977 to €75,765
of which Furniture and vehicles: +€55,296
- Cash -€6,454
down €6,454 (-3.6%), from €181,244 to €174,790
mainly Investment in fixed assets (net) (-€64,046) and Tax, wage and social debts (-€23,956)
- Reserves +€54,781
up €54,781 (+34.2%), from €159,977 to €214,758
- Tax, wage and social debts -€23,956
down €23,956 (-75.2%), from €31,864 to €7,907
- Debts after one year +€18,946
up €18,946, from €0 to €18,946
- Current portion of long-term debt +€2,920
up €2,920 (+82.2%), from €3,551 to €6,470
- Depreciation -€7,763
down €7,763 (-51.7%), from €15,021 to €7,258
- Gross operating margin -€3,752
down €3,752 (-4.6%), from €81,510 to €77,758
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 | €203,505 | €254,603 | +€51,098 | +25.1% |
| Fixed assets | 21/28 | €19,377 | €76,165 | +€56,788 | +293.1% |
| Tangible fixed assets | 22/27 | €18,977 | €75,765 | +€56,788 | +299.3% |
| Plant, machinery and equipment | 23 | €1,294 | €285 | -€1,009 | -77.9% |
| Furniture and vehicles | 24 | €17,682 | €72,978 | +€55,296 | +312.7% |
| Other tangible fixed assets | 26 | - | €2,501 | +€2,501 | |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €184,128 | €178,438 | -€5,690 | -3.1% |
| Amounts receivable within one year | 40/41 | €1,980 | €717 | -€1,263 | -63.8% |
| Other amounts receivable | 41 | €1,980 | €717 | -€1,263 | -63.8% |
| Cash at bank and in hand | 54/58 | €181,244 | €174,790 | -€6,454 | -3.6% |
| Deferred charges and accrued income | 490/1 | €904 | €2,931 | +€2,028 | +224.3% |
| Total equity and liabilities | 10/49 | €203,505 | €254,603 | +€51,098 | +25.1% |
| Equity | 10/15 | €164,977 | €219,758 | +€54,781 | +33.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €159,977 | €214,758 | +€54,781 | +34.2% |
| Distributable reserves | 133 | €159,977 | €214,758 | +€54,781 | +34.2% |
| Amounts payable | 17/49 | €38,528 | €34,845 | -€3,683 | -9.6% |
| Amounts payable after more than one year | 17 | €0 | €18,946 | +€18,946 | |
| Financial debts | 170/4 | €0 | €18,946 | +€18,946 | |
| Amounts payable within one year | 42/48 | €38,528 | €15,899 | -€22,628 | -58.7% |
| Current portion of amounts payable after more than one year | 42 | €3,551 | €6,470 | +€2,920 | +82.2% |
| Trade debts | 44 | €419 | €703 | +€284 | +67.7% |
| Suppliers | 440/4 | €419 | €703 | +€284 | +67.7% |
| Taxes, remuneration and social security | 45 | €31,864 | €7,907 | -€23,956 | -75.2% |
| Taxes | 450/3 | €31,864 | €7,907 | -€23,956 | -75.2% |
| Other amounts payable | 47/48 | €2,694 | €819 | -€1,875 | -69.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,021 | €7,258 | -€7,763 | -51.7% |
| Other operating charges | 640/8 | €836 | €869 | +€33 | +3.9% |
| Gross operating margin | 9900 | €81,510 | €77,758 | -€3,752 | -4.6% |
| Operating profit (loss) | 9901 | €65,653 | €69,631 | +€3,978 | +6.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €410 | €568 | +€158 | +38.5% |
| Recurring financial charges | 65 | €410 | €568 | +€158 | +38.5% |
| Profit (loss) for the period before taxes | 9903 | €65,244 | €69,064 | +€3,820 | +5.9% |
| Income taxes | 67/77 | €15,020 | €14,283 | -€737 | -4.9% |
| Profit (loss) for the period | 9904 | €50,224 | €54,781 | +€4,557 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €50,224 | €54,781 | +€4,557 | +9.1% |
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.