Setfor: 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.
Setfor
Largest movements
- Cash +€13,926
up €13,926 (+33.1%), from €42,131 to €56,057
mainly Net result for the year (+€20,795) and Depreciation (+€1,516)
- Receivables within one year +€4,229
up €4,229 (+2919.6%), from €145 to €4,374
- Reserves +€20,795
up €20,795 (+63.0%), from €33,000 to €53,796
- Tax, wage and social debts -€2,296
down €2,296 (-52.5%), from €4,375 to €2,080
- Gross operating margin -€15,691
down €15,691 (-33.8%), from €46,436 to €30,745
- Taxes -€4,577
down €4,577 (-37.0%), from €12,375 to €7,798
- Depreciation +€992
up €992 (+189.4%), from €524 to €1,516
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 | €44,446 | €63,025 | +€18,579 | +41.8% |
| Fixed assets | 21/28 | €2,170 | €2,593 | +€423 | +19.5% |
| Tangible fixed assets | 22/27 | €2,170 | €2,593 | +€423 | +19.5% |
| Furniture and vehicles | 24 | €2,170 | €2,593 | +€423 | +19.5% |
| Current assets | 29/58 | €42,276 | €60,432 | +€18,156 | +42.9% |
| Amounts receivable within one year | 40/41 | €145 | €4,374 | +€4,229 | +2919.6% |
| Other amounts receivable | 41 | €145 | €4,374 | +€4,229 | +2919.6% |
| Cash at bank and in hand | 54/58 | €42,131 | €56,057 | +€13,926 | +33.1% |
| Total equity and liabilities | 10/49 | €44,446 | €63,025 | +€18,579 | +41.8% |
| Equity | 10/15 | €38,000 | €58,796 | +€20,795 | +54.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €33,000 | €53,796 | +€20,795 | +63.0% |
| Distributable reserves | 133 | €33,000 | €53,796 | +€20,795 | +63.0% |
| Amounts payable | 17/49 | €6,446 | €4,229 | -€2,217 | -34.4% |
| Amounts payable within one year | 42/48 | €6,446 | €4,216 | -€2,230 | -34.6% |
| Trade debts | 44 | €2,070 | €2,136 | +€66 | +3.2% |
| Suppliers | 440/4 | €2,070 | €2,136 | +€66 | +3.2% |
| Taxes, remuneration and social security | 45 | €4,375 | €2,080 | -€2,296 | -52.5% |
| Taxes | 450/3 | €4,375 | €2,080 | -€2,296 | -52.5% |
| Other amounts payable | 47/48 | €1 | €1 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €13 | +€13 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €524 | €1,516 | +€992 | +189.4% |
| Other operating charges | 640/8 | €537 | €400 | -€138 | -25.6% |
| Gross operating margin | 9900 | €46,436 | €30,745 | -€15,691 | -33.8% |
| Operating profit (loss) | 9901 | €45,375 | €28,830 | -€16,546 | -36.5% |
| Financial charges | 65/66B | - | €236 | +€236 | |
| Recurring financial charges | 65 | - | €236 | +€236 | |
| Profit (loss) for the period before taxes | 9903 | €45,375 | €28,594 | -€16,781 | -37.0% |
| Income taxes | 67/77 | €12,375 | €7,798 | -€4,577 | -37.0% |
| Profit (loss) for the period | 9904 | €33,000 | €20,795 | -€12,205 | -37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,000 | €20,795 | -€12,205 | -37.0% |
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.