ROLLING RESEARCH: 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.
ROLLING RESEARCH
Largest movements
- Receivables within one year +€7,456
up €7,456 (+41.7%), from €17,886 to €25,342
of which Trade receivables: +€10,437
- Tangible fixed assets +€5,267
up €5,267 (+1332.2%), from €395 to €5,662
- Cash +€2,514
up €2,514 (+7.6%), from €33,240 to €35,754
mainly Other debts (+€30,610) and Net result for the year (+€27,919)
- Other debts +€30,610
up €30,610 (+462.3%), from €6,621 to €37,231
- Profit (loss) carried forward -€30,098
no longer reported in 2025 (was €30,098)
- Tax, wage and social debts +€13,939
up €13,939 (+145.8%), from €9,560 to €23,500
- Trade debts +€785
up €785 (+325.4%), from €241 to €1,027
- Gross operating margin +€25,983
up €25,983 (+182.3%), from €14,256 to €40,239
- Taxes +€5,986
up €5,986 (+195.2%), from €3,067 to €9,053
- Other operating charges +€777
up €777 (+156.4%), from €497 to €1,273
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 | €51,521 | €66,758 | +€15,236 | +29.6% |
| Fixed assets | 21/28 | €395 | €5,662 | +€5,267 | +1332.2% |
| Tangible fixed assets | 22/27 | €395 | €5,662 | +€5,267 | +1332.2% |
| Furniture and vehicles | 24 | €395 | €5,662 | +€5,267 | +1332.2% |
| Current assets | 29/58 | €51,126 | €61,096 | +€9,970 | +19.5% |
| Amounts receivable within one year | 40/41 | €17,886 | €25,342 | +€7,456 | +41.7% |
| Trade receivables | 40 | €14,904 | €25,342 | +€10,437 | +70.0% |
| Other amounts receivable | 41 | €2,981 | - | -€2,981 | |
| Cash at bank and in hand | 54/58 | €33,240 | €35,754 | +€2,514 | +7.6% |
| Total equity and liabilities | 10/49 | €51,521 | €66,758 | +€15,236 | +29.6% |
| Equity | 10/15 | €35,098 | €5,000 | -€30,098 | -85.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,098 | - | -€30,098 | |
| Amounts payable | 17/49 | €16,423 | €61,758 | +€45,335 | +276.0% |
| Amounts payable within one year | 42/48 | €16,423 | €61,758 | +€45,335 | +276.0% |
| Trade debts | 44 | €241 | €1,027 | +€785 | +325.4% |
| Suppliers | 440/4 | €241 | €1,027 | +€785 | +325.4% |
| Taxes, remuneration and social security | 45 | €9,560 | €23,500 | +€13,939 | +145.8% |
| Taxes | 450/3 | €9,560 | €23,500 | +€13,939 | +145.8% |
| Other amounts payable | 47/48 | €6,621 | €37,231 | +€30,610 | +462.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €858 | €1,100 | +€242 | +28.3% |
| Other operating charges | 640/8 | €497 | €1,273 | +€777 | +156.4% |
| Gross operating margin | 9900 | €14,256 | €40,239 | +€25,983 | +182.3% |
| Operating profit (loss) | 9901 | €12,902 | €37,866 | +€24,964 | +193.5% |
| Financial income | 75/76B | €2 | €0 | -€2 | -99.5% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -99.5% |
| Financial charges | 65/66B | €902 | €894 | -€8 | -0.9% |
| Recurring financial charges | 65 | €902 | €894 | -€8 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €12,002 | €36,972 | +€24,970 | +208.1% |
| Income taxes | 67/77 | €3,067 | €9,053 | +€5,986 | +195.2% |
| Profit (loss) for the period | 9904 | €8,935 | €27,919 | +€18,984 | +212.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,935 | €27,919 | +€18,984 | +212.5% |
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 3 October 2026 via checked.be.