SCALING UP: 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.
SCALING UP
Largest movements
- Cash +€52,578
up €52,578 (+67.9%), from €77,457 to €130,035
mainly Net result for the year (+€105,646) and Tax, wage and social debts (+€2,577)
- Current investments +€12,511
new in 2025: €12,511
- Receivables within one year +€3,389
up €3,389 (+7.4%), from €45,841 to €49,231
of which Other amounts receivable: +€7,777
- Profit (loss) carried forward +€105,646
up €105,646 (+245%), from €43,086 to €148,732
- Advances received -€21,821
no longer reported in 2025 (was €21,821)
- Trade debts -€13,507
down €13,507 (-73.5%), from €18,370 to €4,863
- Other debts -€4,313
down €4,313 (-21.8%), from €19,787 to €15,474
- Tax, wage and social debts +€2,577
up €2,577 (+28.8%), from €8,949 to €11,526
of which Taxes: +€5,673
- Gross operating margin +€66,980
up €66,980 (+81.7%), from €82,025 to €149,005
- Taxes +€21,260
up €21,260 (+137%), from €15,563 to €36,823
- Other operating charges +€5,215
up €5,215 (+954%), from €547 to €5,761
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 | €130,614 | €199,195 | +€68,581 | +52.5% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €5,172 | €4,149 | -€1,023 | -19.8% |
| Tangible fixed assets | 22/27 | €5,072 | €4,049 | -€1,023 | -20.2% |
| Furniture and vehicles | 24 | €1,484 | €871 | -€613 | -41.3% |
| Other tangible fixed assets | 26 | €3,588 | €3,178 | -€410 | -11.4% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €125,442 | €195,046 | +€69,604 | +55.5% |
| Amounts receivable within one year | 40/41 | €45,841 | €49,231 | +€3,389 | +7.4% |
| Trade receivables | 40 | €45,841 | €41,454 | -€4,388 | -9.6% |
| Other amounts receivable | 41 | - | €7,777 | +€7,777 | |
| Current investments | 50/53 | - | €12,511 | +€12,511 | |
| Cash at bank and in hand | 54/58 | €77,457 | €130,035 | +€52,578 | +67.9% |
| Deferred charges and accrued income | 490/1 | €2,144 | €3,270 | +€1,125 | +52.5% |
| Total equity and liabilities | 10/49 | €130,614 | €199,195 | +€68,581 | +52.5% |
| Equity | 10/15 | €61,686 | €167,332 | +€105,646 | +171% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Profit (loss) carried forward | 14 | €43,086 | €148,732 | +€105,646 | +245% |
| Amounts payable | 17/49 | €68,928 | €31,863 | -€37,065 | -53.8% |
| Amounts payable within one year | 42/48 | €68,928 | €31,863 | -€37,065 | -53.8% |
| Trade debts | 44 | €18,370 | €4,863 | -€13,507 | -73.5% |
| Suppliers | 440/4 | €18,370 | €4,863 | -€13,507 | -73.5% |
| Advances received on contracts in progress | 46 | €21,821 | - | -€21,821 | |
| Taxes, remuneration and social security | 45 | €8,949 | €11,526 | +€2,577 | +28.8% |
| Taxes | 450/3 | €5,853 | €11,526 | +€5,673 | +96.9% |
| Remuneration and social security | 454/9 | €3,096 | - | -€3,096 | |
| Other amounts payable | 47/48 | €19,787 | €15,474 | -€4,313 | -21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €945 | €1,023 | +€78 | +8.2% |
| Other operating charges | 640/8 | €547 | €5,761 | +€5,215 | +954% |
| Gross operating margin | 9900 | €82,025 | €149,005 | +€66,980 | +81.7% |
| Operating profit (loss) | 9901 | €80,533 | €142,221 | +€61,688 | +76.6% |
| Financial income | 75/76B | - | €338 | +€338 | |
| Recurring financial income | 75 | - | €338 | +€338 | |
| Financial charges | 65/66B | €107 | €91 | -€16 | -15.2% |
| Recurring financial charges | 65 | €107 | €91 | -€16 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €80,426 | €142,468 | +€62,042 | +77.1% |
| Income taxes | 67/77 | €15,563 | €36,823 | +€21,260 | +137% |
| Profit (loss) for the period | 9904 | €64,864 | €105,646 | +€40,782 | +62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €64,864 | €105,646 | +€40,782 | +62.9% |
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 15 October 2026 via checked.be.