Ripple Effect: 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.
Ripple Effect
Largest movements
- Cash +€63,272
up €63,272 (+76.6%), from €82,595 to €145,867
mainly Net result for the year (+€46,449) and Receivables within one year (+€32,000)
- Receivables within one year -€32,000
down €32,000 (-94.9%), from €33,720 to €1,721
of which Trade receivables: -€31,924
- Tangible fixed assets +€1,745
up €1,745 (+19.4%), from €9,003 to €10,748
of which Other tangible fixed assets: +€3,333
- Profit (loss) carried forward +€46,449
new in 2025: €46,449
- Tax, wage and social debts -€13,454
down €13,454 (-44.4%), from €30,275 to €16,822
- Gross operating margin +€8,192
up €8,192 (+14.9%), from €55,091 to €63,283
- Depreciation +€2,290
up €2,290 (+280.8%), from €816 to €3,105
- Taxes +€1,313
up €1,313 (+12.2%), from €10,786 to €12,099
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 | €125,318 | €158,335 | +€33,017 | +26.3% |
| Fixed assets | 21/28 | €9,003 | €10,748 | +€1,745 | +19.4% |
| Tangible fixed assets | 22/27 | €9,003 | €10,748 | +€1,745 | +19.4% |
| Furniture and vehicles | 24 | €6,154 | €4,565 | -€1,589 | -25.8% |
| Other tangible fixed assets | 26 | €2,849 | €6,182 | +€3,333 | +117.0% |
| Current assets | 29/58 | €116,315 | €147,587 | +€31,272 | +26.9% |
| Amounts receivable within one year | 40/41 | €33,720 | €1,721 | -€32,000 | -94.9% |
| Trade receivables | 40 | €33,644 | €1,721 | -€31,924 | -94.9% |
| Other amounts receivable | 41 | €76 | €0 | -€76 | -100.0% |
| Cash at bank and in hand | 54/58 | €82,595 | €145,867 | +€63,272 | +76.6% |
| Total equity and liabilities | 10/49 | €125,318 | €158,335 | +€33,017 | +26.3% |
| Equity | 10/15 | €94,702 | €141,151 | +€46,449 | +49.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €91,702 | €91,702 | = | 0.0% |
| Distributable reserves | 133 | €91,702 | €91,702 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €46,449 | +€46,449 | |
| Amounts payable | 17/49 | €30,616 | €17,184 | -€13,433 | -43.9% |
| Amounts payable within one year | 42/48 | €30,616 | €17,184 | -€13,433 | -43.9% |
| Trade debts | 44 | €341 | €302 | -€39 | -11.3% |
| Suppliers | 440/4 | €341 | €302 | -€39 | -11.3% |
| Taxes, remuneration and social security | 45 | €30,275 | €16,822 | -€13,454 | -44.4% |
| Taxes | 450/3 | €30,275 | €16,822 | -€13,454 | -44.4% |
| Other amounts payable | 47/48 | €0 | €60 | +€60 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €816 | €3,105 | +€2,290 | +280.8% |
| Other operating charges | 640/8 | €327 | €462 | +€135 | +41.4% |
| Gross operating margin | 9900 | €55,091 | €63,283 | +€8,192 | +14.9% |
| Operating profit (loss) | 9901 | €53,949 | €59,716 | +€5,767 | +10.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €1,563 | €1,167 | -€395 | -25.3% |
| Recurring financial charges | 65 | €1,563 | €1,167 | -€395 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €52,386 | €58,548 | +€6,163 | +11.8% |
| Income taxes | 67/77 | €10,786 | €12,099 | +€1,313 | +12.2% |
| Profit (loss) for the period | 9904 | €41,600 | €46,449 | +€4,849 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €41,600 | €46,449 | +€4,849 | +11.7% |
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 5 October 2026 via checked.be.