SECOND: 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.
SECOND
Largest movements
- Cash +€48,508
up €48,508 (+44.2%), from €109,739 to €158,247
mainly Net result for the year (+€44,735) and Tax, wage and social debts (+€3,244)
- Tangible fixed assets -€2,173
down €2,173 (-72.8%), from €2,985 to €812
- Reserves +€44,735
up €44,735 (+55.8%), from €80,231 to €124,966
- Tax, wage and social debts +€3,244
up €3,244 (+16.2%), from €19,990 to €23,234
- Gross operating margin +€11,051
up €11,051 (+22.7%), from €48,726 to €59,777
- Depreciation -€6,848
down €6,848 (-75.9%), from €9,020 to €2,173
- Taxes +€3,538
up €3,538 (+40.7%), from €8,685 to €12,223
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 | €127,557 | €173,904 | +€46,347 | +36.3% |
| Fixed assets | 21/28 | €2,985 | €812 | -€2,173 | -72.8% |
| Tangible fixed assets | 22/27 | €2,985 | €812 | -€2,173 | -72.8% |
| Furniture and vehicles | 24 | €2,985 | €812 | -€2,173 | -72.8% |
| Current assets | 29/58 | €124,572 | €173,092 | +€48,520 | +38.9% |
| Amounts receivable within one year | 40/41 | €14,671 | €14,671 | = | 0.0% |
| Trade receivables | 40 | €14,671 | €14,671 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €109,739 | €158,247 | +€48,508 | +44.2% |
| Deferred charges and accrued income | 490/1 | €162 | €173 | +€12 | +7.3% |
| Total equity and liabilities | 10/49 | €127,557 | €173,904 | +€46,347 | +36.3% |
| Equity | 10/15 | €82,731 | €127,466 | +€44,735 | +54.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €80,231 | €124,966 | +€44,735 | +55.8% |
| Distributable reserves | 133 | €80,231 | €124,966 | +€44,735 | +55.8% |
| Amounts payable | 17/49 | €44,826 | €46,437 | +€1,611 | +3.6% |
| Amounts payable within one year | 42/48 | €44,826 | €46,437 | +€1,611 | +3.6% |
| Trade debts | 44 | €1,836 | €203 | -€1,633 | -88.9% |
| Suppliers | 440/4 | €1,836 | €203 | -€1,633 | -88.9% |
| Taxes, remuneration and social security | 45 | €19,990 | €23,234 | +€3,244 | +16.2% |
| Taxes | 450/3 | €19,990 | €23,234 | +€3,244 | +16.2% |
| Other amounts payable | 47/48 | €23,000 | €23,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,020 | €2,173 | -€6,848 | -75.9% |
| Other operating charges | 640/8 | €502 | €567 | +€66 | +13.1% |
| Gross operating margin | 9900 | €48,726 | €59,777 | +€11,051 | +22.7% |
| Operating profit (loss) | 9901 | €39,205 | €57,037 | +€17,832 | +45.5% |
| Financial charges | 65/66B | €65 | €79 | +€14 | +21.1% |
| Recurring financial charges | 65 | €65 | €79 | +€14 | +21.1% |
| Profit (loss) for the period before taxes | 9903 | €39,140 | €56,958 | +€17,819 | +45.5% |
| Income taxes | 67/77 | €8,685 | €12,223 | +€3,538 | +40.7% |
| Profit (loss) for the period | 9904 | €30,454 | €44,735 | +€14,281 | +46.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,454 | €44,735 | +€14,281 | +46.9% |
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 13 October 2026 via checked.be.