Reverse Paradox: 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.
Reverse Paradox
Largest movements
- Cash +€22,502
up €22,502 (+120.4%), from €18,685 to €41,187
mainly Net result for the year (+€20,847) and Other debts (+€9,472)
- Receivables within one year -€7,028
down €7,028 (-30.7%), from €22,907 to €15,880
of which Trade receivables: -€4,011
- Intangible fixed assets -€4,064
down €4,064 (-100.0%), from €4,064 to €0
- Tangible fixed assets -€835
down €835 (-17.7%), from €4,703 to €3,868
of which Furniture and vehicles: -€821
- Other debts +€9,472
up €9,472 (+263.4%), from €3,596 to €13,067
- Reserves -€5,867
down €5,867 (-17.1%), from €34,332 to €28,465
- Tax, wage and social debts +€5,020
up €5,020 (+66.4%), from €7,559 to €12,579
of which Taxes: +€5,020
- Trade debts +€1,773
up €1,773 (+41.9%), from €4,227 to €6,000
- Gross operating margin +€14,792
up €14,792 (+60.6%), from €24,406 to €39,198
- Taxes +€4,137
up €4,137 (+91.7%), from €4,511 to €8,648
- Write-downs +€1,516
new in 2025: €1,516
- Depreciation -€537
down €537 (-20.7%), from €2,588 to €2,052
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 | €52,405 | €62,871 | +€10,465 | +20.0% |
| Fixed assets | 21/28 | €8,767 | €3,868 | -€4,898 | -55.9% |
| Intangible fixed assets | 21 | €4,064 | €0 | -€4,064 | -100.0% |
| Tangible fixed assets | 22/27 | €4,703 | €3,868 | -€835 | -17.7% |
| Plant, machinery and equipment | 23 | €13 | €0 | -€13 | -100.0% |
| Furniture and vehicles | 24 | €4,690 | €3,868 | -€821 | -17.5% |
| Current assets | 29/58 | €43,639 | €59,002 | +€15,364 | +35.2% |
| Amounts receivable within one year | 40/41 | €22,907 | €15,880 | -€7,028 | -30.7% |
| Trade receivables | 40 | €19,857 | €15,846 | -€4,011 | -20.2% |
| Other amounts receivable | 41 | €3,050 | €34 | -€3,016 | -98.9% |
| Cash at bank and in hand | 54/58 | €18,685 | €41,187 | +€22,502 | +120.4% |
| Deferred charges and accrued income | 490/1 | €2,046 | €1,936 | -€111 | -5.4% |
| Total equity and liabilities | 10/49 | €52,405 | €62,871 | +€10,465 | +20.0% |
| Equity | 10/15 | €36,346 | €30,465 | -€5,881 | -16.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €34,332 | €28,465 | -€5,867 | -17.1% |
| Distributable reserves | 133 | €34,332 | €28,465 | -€5,867 | -17.1% |
| Profit (loss) carried forward | 14 | €14 | €0 | -€14 | -100.0% |
| Amounts payable | 17/49 | €16,059 | €32,406 | +€16,346 | +101.8% |
| Amounts payable within one year | 42/48 | €16,059 | €32,406 | +€16,346 | +101.8% |
| Current portion of amounts payable after more than one year | 42 | €678 | €760 | +€82 | +12.1% |
| Trade debts | 44 | €4,227 | €6,000 | +€1,773 | +41.9% |
| Suppliers | 440/4 | €4,227 | €6,000 | +€1,773 | +41.9% |
| Taxes, remuneration and social security | 45 | €7,559 | €12,579 | +€5,020 | +66.4% |
| Taxes | 450/3 | €7,559 | €12,579 | +€5,020 | +66.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,596 | €13,067 | +€9,472 | +263.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,588 | €2,052 | -€537 | -20.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,516 | +€1,516 | |
| Other operating charges | 640/8 | €742 | €780 | +€39 | +5.2% |
| Non-recurring operating charges | 66A | - | €4,064 | +€4,064 | |
| Gross operating margin | 9900 | €24,406 | €39,198 | +€14,792 | +60.6% |
| Operating profit (loss) | 9901 | €21,076 | €30,786 | +€9,710 | +46.1% |
| Financial income | 75/76B | €21 | €99 | +€78 | +368.1% |
| Recurring financial income | 75 | €21 | €99 | +€78 | +368.1% |
| Financial charges | 65/66B | €1,447 | €1,390 | -€57 | -4.0% |
| Recurring financial charges | 65 | €1,447 | €1,390 | -€57 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €19,650 | €29,495 | +€9,845 | +50.1% |
| Income taxes | 67/77 | €4,511 | €8,648 | +€4,137 | +91.7% |
| Profit (loss) for the period | 9904 | €15,139 | €20,847 | +€5,708 | +37.7% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €15,139 | €20,847 | +€5,708 | +37.7% |
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 30 September 2026 via checked.be.