S & B: 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.
S & B
Largest movements
- Cash -€2,328
down €2,328 (-4.0%), from €58,867 to €56,538
mainly Investment in fixed assets (net) (-€16,943) and Debts after one year (-€12,351)
- Reserves +€15,567
up €15,567 (+34.7%), from €44,857 to €60,425
- Debts after one year -€12,351
down €12,351 (-27.9%), from €44,301 to €31,950
- Accrued charges and deferred income -€2,694
down €2,694 (-64.9%), from €4,150 to €1,456
- Tax, wage and social debts -€1,878
down €1,878 (-100.0%), from €1,878 to €0
- Gross operating margin +€11,386
up €11,386 (+36.0%), from €31,621 to €43,008
- Depreciation +€2,787
up €2,787 (+21.7%), from €12,819 to €15,606
- Taxes +€1,224
up €1,224 (+22.5%), from €5,430 to €6,653
- Financial charges +€966
up €966 (+33.2%), from €2,905 to €3,871
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 | €151,219 | €149,587 | -€1,632 | -1.1% |
| Fixed assets | 21/28 | €78,284 | €79,621 | +€1,337 | +1.7% |
| Tangible fixed assets | 22/27 | €78,284 | €79,621 | +€1,337 | +1.7% |
| Land and buildings | 22 | €4,694 | €3,832 | -€861 | -18.4% |
| Plant, machinery and equipment | 23 | - | €7,693 | +€7,693 | |
| Furniture and vehicles | 24 | €73,590 | €68,096 | -€5,494 | -7.5% |
| Current assets | 29/58 | €72,935 | €69,967 | -€2,968 | -4.1% |
| Amounts receivable within one year | 40/41 | €2,427 | €1,895 | -€532 | -21.9% |
| Trade receivables | 40 | €2,427 | €1,254 | -€1,172 | -48.3% |
| Other amounts receivable | 41 | - | €640 | +€640 | |
| Cash at bank and in hand | 54/58 | €58,867 | €56,538 | -€2,328 | -4.0% |
| Deferred charges and accrued income | 490/1 | €11,642 | €11,534 | -€108 | -0.9% |
| Total equity and liabilities | 10/49 | €151,219 | €149,587 | -€1,632 | -1.1% |
| Equity | 10/15 | €64,857 | €80,425 | +€15,567 | +24.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €44,857 | €60,425 | +€15,567 | +34.7% |
| Distributable reserves | 133 | €44,857 | €60,425 | +€15,567 | +34.7% |
| Amounts payable | 17/49 | €86,362 | €69,163 | -€17,199 | -19.9% |
| Amounts payable after more than one year | 17 | €44,301 | €31,950 | -€12,351 | -27.9% |
| Financial debts | 170/4 | €44,301 | €31,950 | -€12,351 | -27.9% |
| Amounts payable within one year | 42/48 | €37,911 | €35,757 | -€2,154 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €11,871 | €12,351 | +€480 | +4.0% |
| Trade debts | 44 | €3,524 | €2,671 | -€853 | -24.2% |
| Suppliers | 440/4 | €3,524 | €2,671 | -€853 | -24.2% |
| Advances received on contracts in progress | 46 | €250 | €0 | -€250 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,878 | €0 | -€1,878 | -100.0% |
| Taxes | 450/3 | €1,878 | €0 | -€1,878 | -100.0% |
| Other amounts payable | 47/48 | €20,389 | €20,735 | +€347 | +1.7% |
| Accrued charges and deferred income | 492/3 | €4,150 | €1,456 | -€2,694 | -64.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,819 | €15,606 | +€2,787 | +21.7% |
| Other operating charges | 640/8 | €991 | €1,310 | +€319 | +32.2% |
| Gross operating margin | 9900 | €31,621 | €43,008 | +€11,386 | +36.0% |
| Operating profit (loss) | 9901 | €17,811 | €26,092 | +€8,281 | +46.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €2,905 | €3,871 | +€966 | +33.2% |
| Recurring financial charges | 65 | €2,905 | €3,871 | +€966 | +33.2% |
| Profit (loss) for the period before taxes | 9903 | €14,906 | €22,221 | +€7,315 | +49.1% |
| Income taxes | 67/77 | €5,430 | €6,653 | +€1,224 | +22.5% |
| Profit (loss) for the period | 9904 | €9,476 | €15,567 | +€6,091 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,476 | €15,567 | +€6,091 | +64.3% |
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 2 October 2026 via checked.be.