ROBIN DAVID: 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.
ROBIN DAVID
Largest movements
- Cash +€1,445
new in 2025: €1,445
mainly Net result for the year (+€23,078) and Tax, wage and social debts (+€5,501)
- Tangible fixed assets +€995
up €995 (+80.3%), from €1,239 to €2,234
- Reserves +€20,170
up €20,170 (+63.5%), from €31,780 to €51,950
of which Distributable reserves: +€20,170
- Trade debts -€15,852
down €15,852 (-90.4%), from €17,532 to €1,680
- Short-term financial debts -€11,123
no longer reported in 2025 (was €11,123)
- Tax, wage and social debts +€5,501
up €5,501 (+93.4%), from €5,890 to €11,391
- Profit (loss) carried forward +€2,908
up €2,908, from -€2,906 to €2
- Gross operating margin +€32,104
up €32,104 (+425.0%), from €7,553 to €39,657
- Taxes +€9,809
up €9,809 (+1393.3%), from €704 to €10,513
- Other operating charges -€4,700
down €4,700 (-69.8%), from €6,738 to €2,038
- Financial charges +€1,080
up €1,080 (+35.2%), from €3,068 to €4,148
- Staff costs -€404
no longer reported in 2025 (was €404)
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 | €82,019 | €83,623 | +€1,604 | +2.0% |
| Fixed assets | 21/28 | €1,764 | €2,817 | +€1,053 | +59.7% |
| Tangible fixed assets | 22/27 | €1,239 | €2,234 | +€995 | +80.3% |
| Furniture and vehicles | 24 | €1,239 | €2,234 | +€995 | +80.3% |
| Financial fixed assets | 28 | €525 | €583 | +€58 | +11.0% |
| Current assets | 29/58 | €80,255 | €80,806 | +€551 | +0.7% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €60,068 | €59,361 | -€707 | -1.2% |
| Trade receivables | 40 | €43,819 | €37,196 | -€6,623 | -15.1% |
| Other amounts receivable | 41 | €16,249 | €22,165 | +€5,916 | +36.4% |
| Cash at bank and in hand | 54/58 | - | €1,445 | +€1,445 | |
| Deferred charges and accrued income | 490/1 | €187 | - | -€187 | |
| Total equity and liabilities | 10/49 | €82,019 | €83,623 | +€1,604 | +2.0% |
| Equity | 10/15 | €47,474 | €70,552 | +€23,078 | +48.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,780 | €51,950 | +€20,170 | +63.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €29,920 | €50,090 | +€20,170 | +67.4% |
| Profit (loss) carried forward | 14 | -€2,906 | €2 | +€2,908 | |
| Amounts payable | 17/49 | €34,545 | €13,071 | -€21,474 | -62.2% |
| Amounts payable within one year | 42/48 | €34,545 | €13,071 | -€21,474 | -62.2% |
| Financial debts | 43 | €11,123 | - | -€11,123 | |
| Credit institutions | 430/8 | €11,123 | - | -€11,123 | |
| Trade debts | 44 | €17,532 | €1,680 | -€15,852 | -90.4% |
| Suppliers | 440/4 | €17,532 | €1,680 | -€15,852 | -90.4% |
| Taxes, remuneration and social security | 45 | €5,890 | €11,391 | +€5,501 | +93.4% |
| Taxes | 450/3 | €5,890 | €11,391 | +€5,501 | +93.4% |
| Remuneration, social security and pensions | 62 | €404 | - | -€404 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €693 | €782 | +€89 | +12.8% |
| Other operating charges | 640/8 | €6,738 | €2,038 | -€4,700 | -69.8% |
| Non-recurring operating charges | 66A | - | €217 | +€217 | |
| Gross operating margin | 9900 | €7,553 | €39,657 | +€32,104 | +425.0% |
| Operating profit (loss) | 9901 | -€282 | €36,620 | +€36,902 | |
| Financial income | 75/76B | €1,136 | €1,119 | -€17 | -1.5% |
| Recurring financial income | 75 | €1,136 | €1,119 | -€17 | -1.5% |
| Financial charges | 65/66B | €3,068 | €4,148 | +€1,080 | +35.2% |
| Recurring financial charges | 65 | €3,068 | €4,148 | +€1,080 | +35.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,214 | €33,591 | +€35,805 | |
| Income taxes | 67/77 | €704 | €10,513 | +€9,809 | +1393.3% |
| Profit (loss) for the period | 9904 | -€2,918 | €23,078 | +€25,996 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,918 | €23,078 | +€25,996 |
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 7 October 2026 via checked.be.