SHIFT FROM WITHIN: 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 FROM WITHIN
Largest movements
- Cash +€92,704
up €92,704 (+296.5%), from €31,266 to €123,971
mainly Other debts (+€206,442) and Net result for the year (+€198,381)
- Receivables within one year +€38,476
up €38,476 (+172.9%), from €22,251 to €60,726
of which Trade receivables: +€28,193
- Other debts +€206,442
up €206,442 (+564.6%), from €36,562 to €243,005
- Profit (loss) carried forward -€38,446
new in 2025: -€38,446
- Reserves -€33,173
no longer reported in 2025 (was €33,173)
- Tax, wage and social debts -€3,898
no longer reported in 2025 (was €3,898)
- Gross operating margin +€189,236
up €189,236 (+238.8%), from €79,261 to €268,497
- Taxes +€51,714
up €51,714 (+332.3%), from €15,561 to €67,275
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 | €77,772 | €209,104 | +€131,332 | +168.9% |
| Fixed assets | 21/28 | €9,897 | €10,288 | +€391 | +4.0% |
| Tangible fixed assets | 22/27 | €9,897 | €10,288 | +€391 | +4.0% |
| Furniture and vehicles | 24 | €9,897 | €10,288 | +€391 | +4.0% |
| Current assets | 29/58 | €67,875 | €198,816 | +€130,941 | +192.9% |
| Amounts receivable within one year | 40/41 | €22,251 | €60,726 | +€38,476 | +172.9% |
| Trade receivables | 40 | €20,312 | €48,505 | +€28,193 | +138.8% |
| Other amounts receivable | 41 | €1,939 | €12,222 | +€10,283 | +530.3% |
| Current investments | 50/53 | €13,828 | €13,828 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €31,266 | €123,971 | +€92,704 | +296.5% |
| Deferred charges and accrued income | 490/1 | €530 | €291 | -€239 | -45.1% |
| Total equity and liabilities | 10/49 | €77,772 | €209,104 | +€131,332 | +168.9% |
| Equity | 10/15 | €36,173 | -€35,446 | -€71,619 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €33,173 | - | -€33,173 | |
| Distributable reserves | 133 | €33,173 | - | -€33,173 | |
| Profit (loss) carried forward | 14 | - | -€38,446 | -€38,446 | |
| Amounts payable | 17/49 | €41,599 | €244,550 | +€202,951 | +487.9% |
| Amounts payable within one year | 42/48 | €41,599 | €244,550 | +€202,951 | +487.9% |
| Trade debts | 44 | €1,138 | €1,545 | +€407 | +35.8% |
| Suppliers | 440/4 | €1,138 | €1,545 | +€407 | +35.8% |
| Taxes, remuneration and social security | 45 | €3,898 | - | -€3,898 | |
| Taxes | 450/3 | €3,898 | - | -€3,898 | |
| Other amounts payable | 47/48 | €36,562 | €243,005 | +€206,442 | +564.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,955 | €2,441 | -€1,514 | -38.3% |
| Other operating charges | 640/8 | €445 | €568 | +€122 | +27.5% |
| Gross operating margin | 9900 | €79,261 | €268,497 | +€189,236 | +238.8% |
| Operating profit (loss) | 9901 | €74,861 | €265,488 | +€190,627 | +254.6% |
| Financial income | 75/76B | - | €209 | +€209 | |
| Recurring financial income | 75 | - | €209 | +€209 | |
| Financial charges | 65/66B | €49 | €40 | -€8 | -16.7% |
| Recurring financial charges | 65 | €49 | €40 | -€8 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €74,813 | €265,656 | +€190,844 | +255.1% |
| Income taxes | 67/77 | €15,561 | €67,275 | +€51,714 | +332.3% |
| Profit (loss) for the period | 9904 | €59,251 | €198,381 | +€139,130 | +234.8% |
| Profit (loss) for the period to be appropriated | 9905 | €59,251 | €198,381 | +€139,130 | +234.8% |
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 30 September 2026 via checked.be.