SET EVENT: what changed
Two fiscal 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.
SET EVENT
Largest movements
- Receivables within one year +€39,407
up €39,407 (+1630.0%), from €2,418 to €41,824
of which Trade receivables: +€39,082
- Cash +€27,454
up €27,454 (+193.2%), from €14,209 to €41,663
mainly Net result for the year (+€40,863) and Trade debts (+€13,781)
- Stocks and contracts -€2,942
down €2,942 (-23.6%), from €12,462 to €9,520
- Tangible fixed assets -€2,407
down €2,407 (-16.5%), from €14,630 to €12,223
of which Furniture and vehicles: -€13,650
- Intangible fixed assets -€2,000
down €2,000 (-11.1%), from €18,000 to €16,000
- Profit (loss) carried forward +€35,193
no longer reported in 2025 (was -€35,193)
- Trade debts +€13,781
up €13,781 (+41.1%), from €33,491 to €47,272
- Reserves +€5,670
up €5,670 (+238.1%), from €2,381 to €8,051
- Tax, wage and social debts +€4,454
up €4,454 (+58.6%), from €7,600 to €12,054
of which Taxes: +€4,102
- Other debts +€2,398
up €2,398 (+6.8%), from €35,439 to €37,837
- Staff costs -€40,679
down €40,679 (-55.8%), from €72,892 to €32,213
- Gross operating margin +€38,789
up €38,789 (+85.6%), from €45,318 to €84,107
- Taxes +€2,333
up €2,333 (+744.4%), from €313 to €2,647
- Depreciation +€1,306
up €1,306 (+30.3%), from €4,308 to €5,613
- Other operating charges -€1,049
down €1,049 (-83.1%), from €1,262 to €213
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.
Cash bridge derived
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 | €61,719 | €123,214 | +€61,495 | +99.6% |
| Fixed assets | 21/28 | €32,630 | €28,223 | -€4,407 | -13.5% |
| Intangible fixed assets | 21 | €18,000 | €16,000 | -€2,000 | -11.1% |
| Tangible fixed assets | 22/27 | €14,630 | €12,223 | -€2,407 | -16.5% |
| Plant, machinery and equipment | 23 | - | €11,243 | +€11,243 | |
| Furniture and vehicles | 24 | €14,630 | €980 | -€13,650 | -93.3% |
| Current assets | 29/58 | €29,089 | €94,991 | +€65,902 | +226.6% |
| Stocks and contracts in progress | 3 | €12,462 | €9,520 | -€2,942 | -23.6% |
| Stocks | 30/36 | €12,462 | €9,520 | -€2,942 | -23.6% |
| Amounts receivable within one year | 40/41 | €2,418 | €41,824 | +€39,407 | +1630.0% |
| Trade receivables | 40 | - | €39,082 | +€39,082 | |
| Other amounts receivable | 41 | €2,418 | €2,743 | +€325 | +13.4% |
| Cash at bank and in hand | 54/58 | €14,209 | €41,663 | +€27,454 | +193.2% |
| Deferred charges and accrued income | 490/1 | - | €1,984 | +€1,984 | |
| Total equity and liabilities | 10/49 | €61,719 | €123,214 | +€61,495 | +99.6% |
| Equity | 10/15 | -€14,812 | €26,051 | +€40,863 | |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €2,381 | €8,051 | +€5,670 | +238.1% |
| Distributable reserves | 133 | €2,381 | €8,051 | +€5,670 | +238.1% |
| Profit (loss) carried forward | 14 | -€35,193 | - | +€35,193 | |
| Amounts payable | 17/49 | €76,531 | €97,164 | +€20,633 | +27.0% |
| Amounts payable within one year | 42/48 | €76,531 | €97,164 | +€20,633 | +27.0% |
| Trade debts | 44 | €33,491 | €47,272 | +€13,781 | +41.1% |
| Suppliers | 440/4 | €33,491 | €47,272 | +€13,781 | +41.1% |
| Taxes, remuneration and social security | 45 | €7,600 | €12,054 | +€4,454 | +58.6% |
| Taxes | 450/3 | €1,693 | €5,795 | +€4,102 | +242.4% |
| Remuneration and social security | 454/9 | €5,908 | €6,260 | +€352 | +6.0% |
| Other amounts payable | 47/48 | €35,439 | €37,837 | +€2,398 | +6.8% |
| Remuneration, social security and pensions | 62 | €72,892 | €32,213 | -€40,679 | -55.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,308 | €5,613 | +€1,306 | +30.3% |
| Other operating charges | 640/8 | €1,262 | €213 | -€1,049 | -83.1% |
| Gross operating margin | 9900 | €45,318 | €84,107 | +€38,789 | +85.6% |
| Operating profit (loss) | 9901 | -€33,144 | €46,067 | +€79,211 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €1,736 | €2,561 | +€825 | +47.6% |
| Recurring financial charges | 65 | €1,736 | €2,131 | +€396 | +22.8% |
| Non-recurring financial charges | 66B | - | €430 | +€430 | |
| Profit (loss) for the period before taxes | 9903 | -€34,879 | €43,509 | +€78,388 | |
| Income taxes | 67/77 | €313 | €2,647 | +€2,333 | +744.4% |
| Profit (loss) for the period | 9904 | -€35,193 | €40,863 | +€76,055 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,193 | €40,863 | +€76,055 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.