RETURN ON INVEST: 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.
RETURN ON INVEST
Largest movements
- Tangible fixed assets +€20,245
up €20,245 (+115%), from €17,620 to €37,866
- Cash +€16,481
up €16,481 (+21.5%), from €76,752 to €93,233
mainly Net result for the year (+€33,647) and Debts after one year (+€22,514)
- Receivables within one year +€6,237
up €6,237 (+22.1%), from €28,185 to €34,422
of which Other amounts receivable: +€7,304
- Reserves +€33,645
new in 2025: €33,645
- Debts after one year +€22,514
new in 2025: €22,514
- Other debts -€19,132
down €19,132 (-55.7%), from €34,358 to €15,226
- Current portion of long-term debt +€8,989
new in 2025: €8,989
- Tax, wage and social debts -€1,815
down €1,815 (-16.8%), from €10,779 to €8,964
- Gross operating margin -€32,170
down €32,170 (-33.3%), from €96,751 to €64,581
- Other operating charges +€6,811
up €6,811 (+973%), from €700 to €7,511
- Taxes -€5,130
down €5,130 (-25.9%), from €19,826 to €14,696
- Financial charges +€1,356
up €1,356 (+1,983%), from €68 to €1,424
- Depreciation +€1,155
up €1,155 (+15.7%), from €7,353 to €8,508
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 | €122,557 | €165,520 | +€42,964 | +35.1% |
| Fixed assets | 21/28 | €17,620 | €37,866 | +€20,245 | +115% |
| Tangible fixed assets | 22/27 | €17,620 | €37,866 | +€20,245 | +115% |
| Furniture and vehicles | 24 | €17,620 | €37,866 | +€20,245 | +115% |
| Current assets | 29/58 | €104,936 | €127,655 | +€22,718 | +21.6% |
| Amounts receivable within one year | 40/41 | €28,185 | €34,422 | +€6,237 | +22.1% |
| Trade receivables | 40 | €26,130 | €25,063 | -€1,067 | -4.1% |
| Other amounts receivable | 41 | €2,055 | €9,359 | +€7,304 | +355% |
| Cash at bank and in hand | 54/58 | €76,752 | €93,233 | +€16,481 | +21.5% |
| Total equity and liabilities | 10/49 | €122,557 | €165,520 | +€42,964 | +35.1% |
| Equity | 10/15 | €76,121 | €109,768 | +€33,647 | +44.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €33,645 | +€33,645 | |
| Distributable reserves | 133 | - | €33,645 | +€33,645 | |
| Profit (loss) carried forward | 14 | €73,621 | €73,623 | +€2 | 0.0% |
| Amounts payable | 17/49 | €46,436 | €55,753 | +€9,317 | +20.1% |
| Amounts payable after more than one year | 17 | - | €22,514 | +€22,514 | |
| Financial debts | 170/4 | - | €22,514 | +€22,514 | |
| Amounts payable within one year | 42/48 | €46,436 | €33,238 | -€13,198 | -28.4% |
| Current portion of amounts payable after more than one year | 42 | - | €8,989 | +€8,989 | |
| Trade debts | 44 | €1,298 | €59 | -€1,239 | -95.4% |
| Suppliers | 440/4 | €1,298 | €59 | -€1,239 | -95.4% |
| Taxes, remuneration and social security | 45 | €10,779 | €8,964 | -€1,815 | -16.8% |
| Taxes | 450/3 | €10,779 | €8,964 | -€1,815 | -16.8% |
| Other amounts payable | 47/48 | €34,358 | €15,226 | -€19,132 | -55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,353 | €8,508 | +€1,155 | +15.7% |
| Other operating charges | 640/8 | €700 | €7,511 | +€6,811 | +973% |
| Gross operating margin | 9900 | €96,751 | €64,581 | -€32,170 | -33.3% |
| Operating profit (loss) | 9901 | €88,698 | €48,562 | -€40,136 | -45.3% |
| Financial income | 75/76B | €432 | €1,205 | +€772 | +179% |
| Recurring financial income | 75 | €432 | €1,205 | +€772 | +179% |
| Financial charges | 65/66B | €68 | €1,424 | +€1,356 | +1,983% |
| Recurring financial charges | 65 | €68 | €1,424 | +€1,356 | +1,983% |
| Profit (loss) for the period before taxes | 9903 | €89,062 | €48,343 | -€40,719 | -45.7% |
| Income taxes | 67/77 | €19,826 | €14,696 | -€5,130 | -25.9% |
| Profit (loss) for the period | 9904 | €69,236 | €33,647 | -€35,589 | -51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €69,236 | €33,647 | -€35,589 | -51.4% |
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 29 October 2026 via checked.be.