REV.: 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.
REV.
Largest movements
- Tangible fixed assets +€82,571
up €82,571 (+505.6%), from €16,333 to €98,904
of which Plant, machinery and equipment: +€51,769
- Receivables within one year +€61,235
up €61,235 (+40.5%), from €151,107 to €212,342
of which Other amounts receivable: +€46,745
- Cash -€17,455
down €17,455 (-17.7%), from €98,371 to €80,917
mainly Investment in fixed assets (net) (-€98,113) and Receivables within one year (-€61,235)
- Receivables after one year +€15,122
new in 2025: €15,122
- Profit (loss) carried forward +€121,569
up €121,569 (+64.9%), from €187,370 to €308,939
- Tax, wage and social debts +€11,191
up €11,191 (+958.9%), from €1,167 to €12,358
- Trade debts +€9,008
up €9,008 (+30.3%), from €29,753 to €38,761
- Gross operating margin +€72,939
up €72,939 (+75.0%), from €97,223 to €170,162
- Taxes +€16,136
up €16,136 (+67.1%), from €24,055 to €40,191
- Depreciation +€11,629
up €11,629 (+297.3%), from €3,912 to €15,541
- Financial income +€2,873
up €2,873 (+107.1%), from €2,682 to €5,555
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 | €279,072 | €416,522 | +€137,450 | +49.3% |
| Fixed assets | 21/28 | €16,333 | €98,904 | +€82,571 | +505.6% |
| Tangible fixed assets | 22/27 | €16,333 | €98,904 | +€82,571 | +505.6% |
| Plant, machinery and equipment | 23 | €1,487 | €53,256 | +€51,769 | +3481.4% |
| Other tangible fixed assets | 26 | €14,846 | €45,647 | +€30,802 | +207.5% |
| Current assets | 29/58 | €262,739 | €317,618 | +€54,879 | +20.9% |
| Amounts receivable after more than one year | 29 | - | €15,122 | +€15,122 | |
| Other amounts receivable | 291 | - | €15,122 | +€15,122 | |
| Amounts receivable within one year | 40/41 | €151,107 | €212,342 | +€61,235 | +40.5% |
| Trade receivables | 40 | €5,351 | €19,842 | +€14,490 | +270.8% |
| Other amounts receivable | 41 | €145,755 | €192,500 | +€46,745 | +32.1% |
| Cash at bank and in hand | 54/58 | €98,371 | €80,917 | -€17,455 | -17.7% |
| Deferred charges and accrued income | 490/1 | €13,261 | €9,237 | -€4,023 | -30.3% |
| Total equity and liabilities | 10/49 | €279,072 | €416,522 | +€137,450 | +49.3% |
| Equity | 10/15 | €238,465 | €357,697 | +€119,232 | +50.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €26,094 | €23,757 | -€2,337 | -9.0% |
| Tax-exempt reserves | 132 | €24,959 | €22,622 | -€2,337 | -9.4% |
| Distributable reserves | 133 | €1,135 | €1,135 | = | 0.0% |
| Profit (loss) carried forward | 14 | €187,370 | €308,939 | +€121,569 | +64.9% |
| Provisions and deferred taxes | 16 | €8,320 | €7,541 | -€779 | -9.4% |
| Deferred taxes | 168 | €8,320 | €7,541 | -€779 | -9.4% |
| Amounts payable | 17/49 | €32,287 | €51,284 | +€18,997 | +58.8% |
| Amounts payable within one year | 42/48 | €32,287 | €51,284 | +€18,997 | +58.8% |
| Financial debts | 43 | €188 | €0 | -€188 | -100.0% |
| Credit institutions | 430/8 | €188 | €0 | -€188 | -100.0% |
| Trade debts | 44 | €29,753 | €38,761 | +€9,008 | +30.3% |
| Suppliers | 440/4 | €29,753 | €38,761 | +€9,008 | +30.3% |
| Taxes, remuneration and social security | 45 | €1,167 | €12,358 | +€11,191 | +958.9% |
| Taxes | 450/3 | €1,167 | €12,358 | +€11,191 | +958.9% |
| Other amounts payable | 47/48 | €1,179 | €166 | -€1,014 | -86.0% |
| Non-recurring operating income | 76A | - | €84,149 | +€84,149 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,912 | €15,541 | +€11,629 | +297.3% |
| Other operating charges | 640/8 | €954 | €996 | +€42 | +4.5% |
| Gross operating margin | 9900 | €97,223 | €170,162 | +€72,939 | +75.0% |
| Operating profit (loss) | 9901 | €92,357 | €153,624 | +€61,267 | +66.3% |
| Financial income | 75/76B | €2,682 | €5,555 | +€2,873 | +107.1% |
| Recurring financial income | 75 | €2,682 | €5,555 | +€2,873 | +107.1% |
| Financial charges | 65/66B | €544 | €536 | -€8 | -1.5% |
| Recurring financial charges | 65 | €544 | €536 | -€8 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €94,496 | €158,644 | +€64,148 | +67.9% |
| Transfer from deferred taxes | 780 | €151 | €779 | +€628 | +415.0% |
| Income taxes | 67/77 | €24,055 | €40,191 | +€16,136 | +67.1% |
| Profit (loss) for the period | 9904 | €70,593 | €119,232 | +€48,639 | +68.9% |
| Transfer from tax-exempt reserves | 789 | €454 | €2,337 | +€1,883 | +415.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,047 | €121,569 | +€50,522 | +71.1% |
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 9 October 2026 via checked.be.