S.W: 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.W
Largest movements
- Tangible fixed assets +€3,999
up €3,999 (+42.9%), from €9,324 to €13,323
of which Furniture and vehicles: +€5,560
- Deferred charges and accrued income -€2,538
down €2,538 (-87.3%), from €2,907 to €368
- Receivables within one year +€1,413
up €1,413 (+200.4%), from €705 to €2,117
- Cash -€368
down €368 (-30.2%), from €1,219 to €851
mainly Investment in fixed assets (net) (-€7,739) and Tax, wage and social debts (-€2,738)
- Other debts +€3,776
up €3,776 (+30.9%), from €12,214 to €15,990
- Tax, wage and social debts -€2,738
down €2,738 (-25.6%), from €10,689 to €7,951
of which Remuneration and social security: -€2,600
- Trade debts +€760
up €760 (+59.8%), from €1,270 to €2,030
- Profit (loss) carried forward +€707
up €707 (+5.4%), from -€13,018 to -€12,311
- Gross operating margin +€3,492
up €3,492 (+216.6%), from €1,612 to €5,104
- Depreciation +€904
up €904 (+31.9%), from €2,836 to €3,740
- Financial charges +€297
up €297 (+368.5%), from €81 to €377
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 | €14,154 | €16,660 | +€2,506 | +17.7% |
| Fixed assets | 21/28 | €9,324 | €13,323 | +€3,999 | +42.9% |
| Tangible fixed assets | 22/27 | €9,324 | €13,323 | +€3,999 | +42.9% |
| Plant, machinery and equipment | 23 | €3,715 | €2,154 | -€1,561 | -42.0% |
| Furniture and vehicles | 24 | €5,610 | €11,169 | +€5,560 | +99.1% |
| Current assets | 29/58 | €4,830 | €3,337 | -€1,493 | -30.9% |
| Amounts receivable within one year | 40/41 | €705 | €2,117 | +€1,413 | +200.4% |
| Trade receivables | 40 | €705 | €2,117 | +€1,413 | +200.4% |
| Cash at bank and in hand | 54/58 | €1,219 | €851 | -€368 | -30.2% |
| Deferred charges and accrued income | 490/1 | €2,907 | €368 | -€2,538 | -87.3% |
| Total equity and liabilities | 10/49 | €14,154 | €16,660 | +€2,506 | +17.7% |
| Equity | 10/15 | -€10,018 | -€9,311 | +€707 | +7.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,018 | -€12,311 | +€707 | +5.4% |
| Amounts payable | 17/49 | €24,173 | €25,971 | +€1,799 | +7.4% |
| Amounts payable within one year | 42/48 | €24,173 | €25,971 | +€1,799 | +7.4% |
| Trade debts | 44 | €1,270 | €2,030 | +€760 | +59.8% |
| Suppliers | 440/4 | €1,270 | €2,030 | +€760 | +59.8% |
| Taxes, remuneration and social security | 45 | €10,689 | €7,951 | -€2,738 | -25.6% |
| Taxes | 450/3 | €289 | €151 | -€138 | -47.7% |
| Remuneration and social security | 454/9 | €10,400 | €7,800 | -€2,600 | -25.0% |
| Other amounts payable | 47/48 | €12,214 | €15,990 | +€3,776 | +30.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,836 | €3,740 | +€904 | +31.9% |
| Other operating charges | 640/8 | €112 | €130 | +€18 | +16.4% |
| Gross operating margin | 9900 | €1,612 | €5,104 | +€3,492 | +216.6% |
| Operating profit (loss) | 9901 | -€1,336 | €1,234 | +€2,570 | |
| Financial income | 75/76B | €8 | €2 | -€6 | -78.5% |
| Recurring financial income | 75 | €8 | €2 | -€6 | -78.5% |
| Financial charges | 65/66B | €81 | €377 | +€297 | +368.5% |
| Recurring financial charges | 65 | €81 | €377 | +€297 | +368.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,409 | €858 | +€2,267 | |
| Income taxes | 67/77 | €142 | €151 | +€9 | +6.2% |
| Profit (loss) for the period | 9904 | -€1,551 | €707 | +€2,258 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,551 | €707 | +€2,258 |
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 8 October 2026 via checked.be.