Rise: 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.
Rise
Largest movements
- Cash -€66,224
down €66,224 (-40.7%), from €162,715 to €96,491
mainly Contributions, distributions and other (-€78,818) and Receivables within one year (-€31,185)
- Receivables within one year +€31,185
up €31,185 (+105%), from €29,574 to €60,760
of which Trade receivables: +€31,185
- Tangible fixed assets +€10,908
up €10,908 (+81.7%), from €13,345 to €24,253
of which Furniture and vehicles: +€9,856
- Reserves -€60,749
down €60,749 (-51.6%), from €117,718 to €56,969
of which Distributable reserves: -€60,749
- Other debts +€28,938
up €28,938 (+337%), from €8,583 to €37,521
- Tax, wage and social debts +€10,006
up €10,006 (+22.0%), from €45,476 to €55,482
of which Taxes: +€5,954
- Gross operating margin -€46,559
down €46,559 (-51.5%), from €90,344 to €43,785
- Taxes -€11,687
down €11,687 (-42.4%), from €27,561 to €15,874
- Depreciation +€1,798
up €1,798 (+34.4%), from €5,221 to €7,019
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 | €208,930 | €185,919 | -€23,011 | -11.0% |
| Fixed assets | 21/28 | €13,345 | €24,253 | +€10,908 | +81.7% |
| Tangible fixed assets | 22/27 | €13,345 | €24,253 | +€10,908 | +81.7% |
| Plant, machinery and equipment | 23 | €2,205 | €3,257 | +€1,052 | +47.7% |
| Furniture and vehicles | 24 | €11,141 | €20,997 | +€9,856 | +88.5% |
| Current assets | 29/58 | €195,585 | €161,666 | -€33,919 | -17.3% |
| Amounts receivable within one year | 40/41 | €29,574 | €60,760 | +€31,185 | +105% |
| Trade receivables | 40 | €29,574 | €60,760 | +€31,185 | +105% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €162,715 | €96,491 | -€66,224 | -40.7% |
| Deferred charges and accrued income | 490/1 | €3,296 | €4,415 | +€1,119 | +34.0% |
| Total equity and liabilities | 10/49 | €208,930 | €185,919 | -€23,011 | -11.0% |
| Equity | 10/15 | €136,268 | €75,519 | -€60,749 | -44.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €117,718 | €56,969 | -€60,749 | -51.6% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €115,863 | €55,114 | -€60,749 | -52.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €72,662 | €110,400 | +€37,737 | +51.9% |
| Amounts payable within one year | 42/48 | €72,662 | €110,400 | +€37,737 | +51.9% |
| Trade debts | 44 | €18,603 | €17,397 | -€1,206 | -6.5% |
| Suppliers | 440/4 | €18,603 | €17,397 | -€1,206 | -6.5% |
| Taxes, remuneration and social security | 45 | €45,476 | €55,482 | +€10,006 | +22.0% |
| Taxes | 450/3 | €45,476 | €51,429 | +€5,954 | +13.1% |
| Remuneration and social security | 454/9 | - | €4,052 | +€4,052 | |
| Other amounts payable | 47/48 | €8,583 | €37,521 | +€28,938 | +337% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,221 | €7,019 | +€1,798 | +34.4% |
| Other operating charges | 640/8 | €528 | €1,067 | +€539 | +102% |
| Gross operating margin | 9900 | €90,344 | €43,785 | -€46,559 | -51.5% |
| Operating profit (loss) | 9901 | €84,595 | €35,699 | -€48,897 | -57.8% |
| Financial income | 75/76B | €1 | €1 | +€0 | +20.0% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +20.0% |
| Financial charges | 65/66B | €1,920 | €1,756 | -€164 | -8.5% |
| Recurring financial charges | 65 | €1,920 | €1,756 | -€164 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €82,676 | €33,943 | -€48,733 | -58.9% |
| Income taxes | 67/77 | €27,561 | €15,874 | -€11,687 | -42.4% |
| Profit (loss) for the period | 9904 | €55,114 | €18,069 | -€37,045 | -67.2% |
| Profit (loss) for the period to be appropriated | 9905 | €55,114 | €18,069 | -€37,045 | -67.2% |
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 23 October 2026 via checked.be.