Sebastian Thomas: 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.
Sebastian Thomas
Largest movements
- Tangible fixed assets +€6,516
new in 2025: €6,516
- Receivables within one year +€4,498
up €4,498 (+38.9%), from €11,561 to €16,059
of which Other amounts receivable: +€5,987
- Cash +€1,518
up €1,518 (+7.2%), from €20,954 to €22,472
mainly Net result for the year (+€17,431) and Tax, wage and social debts (+€3,869)
- Profit (loss) carried forward +€15,831
up €15,831 (+114%), from €13,928 to €29,759
- Other debts -€6,185
down €6,185 (-88.5%), from €6,985 to €800
- Tax, wage and social debts +€3,869
up €3,869 (+71.4%), from €5,419 to €9,288
- Trade debts -€984
down €984 (-30.9%), from €3,184 to €2,200
- Gross operating margin +€5,852
up €5,852 (+31.3%), from €18,716 to €24,568
- Taxes +€2,271
up €2,271 (+48.0%), from €4,730 to €7,001
- Financial income +€426
up €426 (+2,773%), from €15 to €441
- Other operating charges +€291
new in 2025: €291
- Depreciation +€279
new in 2025: €279
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 | €32,515 | €45,047 | +€12,532 | +38.5% |
| Fixed assets | 21/28 | - | €6,516 | +€6,516 | |
| Tangible fixed assets | 22/27 | - | €6,516 | +€6,516 | |
| Land and buildings | 22 | - | €6,516 | +€6,516 | |
| Current assets | 29/58 | €32,515 | €38,531 | +€6,016 | +18.5% |
| Amounts receivable within one year | 40/41 | €11,561 | €16,059 | +€4,498 | +38.9% |
| Trade receivables | 40 | €11,561 | €10,072 | -€1,489 | -12.9% |
| Other amounts receivable | 41 | - | €5,987 | +€5,987 | |
| Cash at bank and in hand | 54/58 | €20,954 | €22,472 | +€1,518 | +7.2% |
| Total equity and liabilities | 10/49 | €32,515 | €45,047 | +€12,532 | +38.5% |
| Equity | 10/15 | €16,928 | €32,759 | +€15,831 | +93.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,928 | €29,759 | +€15,831 | +114% |
| Amounts payable | 17/49 | €15,587 | €12,288 | -€3,299 | -21.2% |
| Amounts payable within one year | 42/48 | €15,587 | €12,288 | -€3,299 | -21.2% |
| Trade debts | 44 | €3,184 | €2,200 | -€984 | -30.9% |
| Suppliers | 440/4 | €3,184 | €2,200 | -€984 | -30.9% |
| Taxes, remuneration and social security | 45 | €5,419 | €9,288 | +€3,869 | +71.4% |
| Taxes | 450/3 | €5,419 | €9,288 | +€3,869 | +71.4% |
| Other amounts payable | 47/48 | €6,985 | €800 | -€6,185 | -88.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €279 | +€279 | |
| Other operating charges | 640/8 | - | €291 | +€291 | |
| Gross operating margin | 9900 | €18,716 | €24,568 | +€5,852 | +31.3% |
| Operating profit (loss) | 9901 | €18,716 | €23,998 | +€5,282 | +28.2% |
| Financial income | 75/76B | €15 | €441 | +€426 | +2,773% |
| Recurring financial income | 75 | €15 | €441 | +€426 | +2,773% |
| Financial charges | 65/66B | €74 | €7 | -€67 | -90.5% |
| Recurring financial charges | 65 | €74 | €7 | -€67 | -90.5% |
| Profit (loss) for the period before taxes | 9903 | €18,658 | €24,432 | +€5,775 | +31.0% |
| Income taxes | 67/77 | €4,730 | €7,001 | +€2,271 | +48.0% |
| Profit (loss) for the period | 9904 | €13,928 | €17,431 | +€3,504 | +25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,928 | €17,431 | +€3,504 | +25.2% |
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 27 October 2026 via checked.be.