SA & LAA: 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.
SA & LAA
Largest movements
- Cash +€37,656
up €37,656 (+18.5%), from €203,824 to €241,480
mainly Net result for the year (+€176,005) and Other debts (+€68,429)
- Deferred charges and accrued income +€3,153
new in 2025: €3,153
- Receivables within one year +€2,989
up €2,989 (+70.4%), from €4,245 to €7,234
of which Other amounts receivable: +€2,989
- Other debts +€68,429
up €68,429 (+46.5%), from €147,106 to €215,535
- Profit (loss) carried forward -€34,340
down €34,340 (-100%), from €34,340 to €0
- Tax, wage and social debts +€7,009
up €7,009 (+27.6%), from €25,421 to €32,431
- Trade debts +€2,759
up €2,759 (+662%), from €417 to €3,176
- Gross operating margin +€50,222
up €50,222 (+25.2%), from €199,372 to €249,594
- Taxes +€21,496
up €21,496 (+43.2%), from €49,755 to €71,251
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 | €208,284 | €252,142 | +€43,858 | +21.1% |
| Fixed assets | 21/28 | €214 | €275 | +€60 | +28.2% |
| Tangible fixed assets | 22/27 | €214 | €275 | +€60 | +28.2% |
| Furniture and vehicles | 24 | €214 | €275 | +€60 | +28.2% |
| Current assets | 29/58 | €208,069 | €251,867 | +€43,797 | +21.0% |
| Amounts receivable within one year | 40/41 | €4,245 | €7,234 | +€2,989 | +70.4% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €4,245 | €7,234 | +€2,989 | +70.4% |
| Cash at bank and in hand | 54/58 | €203,824 | €241,480 | +€37,656 | +18.5% |
| Deferred charges and accrued income | 490/1 | - | €3,153 | +€3,153 | |
| Total equity and liabilities | 10/49 | €208,284 | €252,142 | +€43,858 | +21.1% |
| Equity | 10/15 | €35,340 | €1,000 | -€34,340 | -97.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,340 | €0 | -€34,340 | -100% |
| Amounts payable | 17/49 | €172,944 | €251,142 | +€78,198 | +45.2% |
| Amounts payable within one year | 42/48 | €172,944 | €251,142 | +€78,198 | +45.2% |
| Trade debts | 44 | €417 | €3,176 | +€2,759 | +662% |
| Suppliers | 440/4 | €417 | €3,176 | +€2,759 | +662% |
| Taxes, remuneration and social security | 45 | €25,421 | €32,431 | +€7,009 | +27.6% |
| Taxes | 450/3 | €25,421 | €32,431 | +€7,009 | +27.6% |
| Other amounts payable | 47/48 | €147,106 | €215,535 | +€68,429 | +46.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €486 | €269 | -€217 | -44.6% |
| Other operating charges | 640/8 | €437 | €465 | +€28 | +6.4% |
| Gross operating margin | 9900 | €199,372 | €249,594 | +€50,222 | +25.2% |
| Operating profit (loss) | 9901 | €198,449 | €248,860 | +€50,411 | +25.4% |
| Financial charges | 65/66B | €120 | €1,603 | +€1,484 | +1,237% |
| Recurring financial charges | 65 | €120 | €1,603 | +€1,484 | +1,237% |
| Profit (loss) for the period before taxes | 9903 | €198,329 | €247,256 | +€48,927 | +24.7% |
| Income taxes | 67/77 | €49,755 | €71,251 | +€21,496 | +43.2% |
| Profit (loss) for the period | 9904 | €148,574 | €176,005 | +€27,431 | +18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €148,574 | €176,005 | +€27,431 | +18.5% |
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 13 October 2026 via checked.be.