Shift: 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.
Shift
Largest movements
- Cash +€132,982
up €132,982 (+186.4%), from €71,348 to €204,330
mainly Net result for the year (+€136,315) and Receivables after one year (+€55,000)
- Receivables after one year -€55,000
down €55,000 (-100.0%), from €55,000 to €0
- Tangible fixed assets -€37,124
down €37,124 (-16.1%), from €230,563 to €193,439
of which Furniture and vehicles: -€22,360
- Receivables within one year -€11,108
down €11,108 (-27.3%), from €40,736 to €29,628
of which Other amounts receivable: -€10,488
- Reserves +€66,123
up €66,123 (+11.0%), from €603,079 to €669,202
- Other debts -€39,251
down €39,251 (-83.4%), from €47,059 to €7,808
- Tax, wage and social debts +€8,778
up €8,778 (+103.2%), from €8,506 to €17,284
- Gross operating margin -€12,739
down €12,739 (-5.6%), from €228,076 to €215,336
- Taxes -€10,392
down €10,392 (-19.8%), from €52,579 to €42,187
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 | €671,897 | €708,327 | +€36,431 | +5.4% |
| Fixed assets | 21/28 | €230,813 | €193,689 | -€37,124 | -16.1% |
| Tangible fixed assets | 22/27 | €230,563 | €193,439 | -€37,124 | -16.1% |
| Land and buildings | 22 | €138,426 | €125,715 | -€12,711 | -9.2% |
| Plant, machinery and equipment | 23 | - | €1,074 | +€1,074 | |
| Furniture and vehicles | 24 | €71,003 | €48,643 | -€22,360 | -31.5% |
| Other tangible fixed assets | 26 | €21,134 | €18,007 | -€3,127 | -14.8% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €441,084 | €514,638 | +€73,554 | +16.7% |
| Amounts receivable after more than one year | 29 | €55,000 | €0 | -€55,000 | -100.0% |
| Other amounts receivable | 291 | €55,000 | €0 | -€55,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €40,736 | €29,628 | -€11,108 | -27.3% |
| Trade receivables | 40 | €21,074 | €20,454 | -€620 | -2.9% |
| Other amounts receivable | 41 | €19,662 | €9,174 | -€10,488 | -53.3% |
| Current investments | 50/53 | €274,000 | €280,680 | +€6,680 | +2.4% |
| Cash at bank and in hand | 54/58 | €71,348 | €204,330 | +€132,982 | +186.4% |
| Total equity and liabilities | 10/49 | €671,897 | €708,327 | +€36,431 | +5.4% |
| Equity | 10/15 | €615,479 | €681,602 | +€66,123 | +10.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €603,079 | €669,202 | +€66,123 | +11.0% |
| Distributable reserves | 133 | €603,079 | €669,202 | +€66,123 | +11.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €56,418 | €26,725 | -€29,692 | -52.6% |
| Amounts payable within one year | 42/48 | €56,418 | €26,725 | -€29,692 | -52.6% |
| Trade debts | 44 | €853 | €1,633 | +€780 | +91.5% |
| Suppliers | 440/4 | €853 | €1,633 | +€780 | +91.5% |
| Taxes, remuneration and social security | 45 | €8,506 | €17,284 | +€8,778 | +103.2% |
| Taxes | 450/3 | €8,506 | €17,284 | +€8,778 | +103.2% |
| Other amounts payable | 47/48 | €47,059 | €7,808 | -€39,251 | -83.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,535 | €40,389 | -€1,146 | -2.8% |
| Other operating charges | 640/8 | €1,189 | €1,423 | +€234 | +19.7% |
| Gross operating margin | 9900 | €228,076 | €215,336 | -€12,739 | -5.6% |
| Operating profit (loss) | 9901 | €185,352 | €173,525 | -€11,827 | -6.4% |
| Financial income | 75/76B | €4,319 | €5,095 | +€776 | +18.0% |
| Recurring financial income | 75 | €4,319 | €5,095 | +€776 | +18.0% |
| Financial charges | 65/66B | €569 | €118 | -€451 | -79.3% |
| Recurring financial charges | 65 | €569 | €118 | -€451 | -79.3% |
| Profit (loss) for the period before taxes | 9903 | €189,102 | €178,502 | -€10,600 | -5.6% |
| Income taxes | 67/77 | €52,579 | €42,187 | -€10,392 | -19.8% |
| Profit (loss) for the period | 9904 | €136,523 | €136,315 | -€208 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €136,523 | €136,315 | -€208 | -0.2% |
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 4 October 2026 via checked.be.