SE-link: 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.
SE-link
Largest movements
- Cash +€13,707
up €13,707 (+857%), from €1,599 to €15,306
mainly Tax, wage and social debts (+€16,646) and Net result for the year (+€10,907)
- Receivables within one year +€13,415
up €13,415 (+39.4%), from €34,090 to €47,505
- Intangible fixed assets +€5,592
up €5,592 (+16.7%), from €33,577 to €39,169
- Tax, wage and social debts +€16,646
up €16,646 (+1,242%), from €1,340 to €17,986
of which Remuneration and social security: +€10,740
- Reserves +€10,907
up €10,907 (+164%), from €6,657 to €17,565
- Trade debts +€3,568
up €3,568 (+13.0%), from €27,471 to €31,039
- Other debts +€1,593
up €1,593 (+5.6%), from €28,448 to €30,040
- Gross operating margin +€65,312
up €65,312 (+531%), from €12,302 to €77,614
- Staff costs +€53,027
up €53,027 (+1,131%), from €4,690 to €57,718
- Depreciation +€2,800
up €2,800 (+49.9%), from €5,608 to €8,408
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 | €69,266 | €101,981 | +€32,714 | +47.2% |
| Fixed assets | 21/28 | €33,577 | €39,169 | +€5,592 | +16.7% |
| Intangible fixed assets | 21 | €33,577 | €39,169 | +€5,592 | +16.7% |
| Current assets | 29/58 | €35,689 | €62,811 | +€27,122 | +76.0% |
| Amounts receivable within one year | 40/41 | €34,090 | €47,505 | +€13,415 | +39.4% |
| Trade receivables | 40 | €34,090 | €47,505 | +€13,415 | +39.4% |
| Cash at bank and in hand | 54/58 | €1,599 | €15,306 | +€13,707 | +857% |
| Total equity and liabilities | 10/49 | €69,266 | €101,981 | +€32,714 | +47.2% |
| Equity | 10/15 | €11,657 | €22,565 | +€10,907 | +93.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €6,657 | €17,565 | +€10,907 | +164% |
| Distributable reserves | 133 | €6,657 | €17,565 | +€10,907 | +164% |
| Amounts payable | 17/49 | €57,609 | €79,416 | +€21,807 | +37.9% |
| Amounts payable within one year | 42/48 | €57,259 | €79,066 | +€21,807 | +38.1% |
| Trade debts | 44 | €27,471 | €31,039 | +€3,568 | +13.0% |
| Suppliers | 440/4 | €27,471 | €31,039 | +€3,568 | +13.0% |
| Taxes, remuneration and social security | 45 | €1,340 | €17,986 | +€16,646 | +1,242% |
| Taxes | 450/3 | €1,340 | €7,246 | +€5,906 | +441% |
| Remuneration and social security | 454/9 | - | €10,740 | +€10,740 | |
| Other amounts payable | 47/48 | €28,448 | €30,040 | +€1,593 | +5.6% |
| Accrued charges and deferred income | 492/3 | €350 | €350 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €4,690 | €57,718 | +€53,027 | +1,131% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,608 | €8,408 | +€2,800 | +49.9% |
| Other operating charges | 640/8 | €559 | €528 | -€32 | -5.7% |
| Gross operating margin | 9900 | €12,302 | €77,614 | +€65,312 | +531% |
| Operating profit (loss) | 9901 | €1,445 | €10,961 | +€9,516 | +659% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €651 | €54 | -€597 | -91.7% |
| Recurring financial charges | 65 | €651 | €54 | -€597 | -91.7% |
| Profit (loss) for the period before taxes | 9903 | €795 | €10,907 | +€10,112 | +1,272% |
| Income taxes | 67/77 | €455 | - | -€455 | |
| Profit (loss) for the period | 9904 | €340 | €10,907 | +€10,568 | +3,110% |
| Profit (loss) for the period to be appropriated | 9905 | €340 | €10,907 | +€10,568 | +3,110% |
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 29 October 2026 via checked.be.