SIDE BY SIDE BELGIUM: 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.
SIDE BY SIDE BELGIUM
Largest movements
- Receivables within one year +€22,710
up €22,710 (+41.7%), from €54,481 to €77,191
of which Trade receivables: +€20,389
- Cash -€8,939
down €8,939 (-97.1%), from €9,203 to €264
mainly Receivables within one year (-€22,710) and Investment in fixed assets (net) (-€1,074)
- Reserves +€7,672
up €7,672 (+14.0%), from €54,895 to €62,566
- Tax, wage and social debts +€4,674
up €4,674 (+76.8%), from €6,088 to €10,762
of which Remuneration and social security: +€2,635
- Trade debts +€2,410
up €2,410 (+88.5%), from €2,723 to €5,133
- Gross operating margin +€4,097
up €4,097 (+32.5%), from €12,606 to €16,703
- Taxes +€3,291
up €3,291 (+448%), from €734 to €4,025
- Other operating charges -€1,021
down €1,021 (-42.0%), from €2,432 to €1,411
- Financial charges -€363
down €363 (-11.6%), from €3,126 to €2,762
- Depreciation +€328
up €328 (+42.4%), from €774 to €1,103
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 | €84,382 | €98,462 | +€14,080 | +16.7% |
| Fixed assets | 21/28 | €6,865 | €6,835 | -€29 | -0.4% |
| Tangible fixed assets | 22/27 | €6,865 | €6,835 | -€29 | -0.4% |
| Furniture and vehicles | 24 | - | €745 | +€745 | |
| Other tangible fixed assets | 26 | €6,865 | €6,090 | -€774 | -11.3% |
| Current assets | 29/58 | €77,517 | €91,626 | +€14,109 | +18.2% |
| Amounts receivable within one year | 40/41 | €54,481 | €77,191 | +€22,710 | +41.7% |
| Trade receivables | 40 | €48,858 | €69,247 | +€20,389 | +41.7% |
| Other amounts receivable | 41 | €5,623 | €7,944 | +€2,321 | +41.3% |
| Cash at bank and in hand | 54/58 | €9,203 | €264 | -€8,939 | -97.1% |
| Deferred charges and accrued income | 490/1 | €13,833 | €14,171 | +€337 | +2.4% |
| Total equity and liabilities | 10/49 | €84,382 | €98,462 | +€14,080 | +16.7% |
| Equity | 10/15 | €74,895 | €82,566 | +€7,672 | +10.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €54,895 | €62,566 | +€7,672 | +14.0% |
| Distributable reserves | 133 | €54,895 | €62,566 | +€7,672 | +14.0% |
| Amounts payable | 17/49 | €9,487 | €15,896 | +€6,408 | +67.5% |
| Amounts payable within one year | 42/48 | €9,487 | €15,896 | +€6,408 | +67.5% |
| Financial debts | 43 | €676 | €0 | -€676 | -100% |
| Credit institutions | 430/8 | €676 | €0 | -€676 | -100% |
| Trade debts | 44 | €2,723 | €5,133 | +€2,410 | +88.5% |
| Suppliers | 440/4 | €2,723 | €5,133 | +€2,410 | +88.5% |
| Taxes, remuneration and social security | 45 | €6,088 | €10,762 | +€4,674 | +76.8% |
| Taxes | 450/3 | €6,088 | €8,128 | +€2,039 | +33.5% |
| Remuneration and social security | 454/9 | €0 | €2,635 | +€2,635 | |
| Non-recurring operating income | 76A | €1,022 | €0 | -€1,022 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €774 | €1,103 | +€328 | +42.4% |
| Other operating charges | 640/8 | €2,432 | €1,411 | -€1,021 | -42.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €12,606 | €16,703 | +€4,097 | +32.5% |
| Operating profit (loss) | 9901 | €9,400 | €14,189 | +€4,790 | +51.0% |
| Financial income | 75/76B | €146 | €270 | +€124 | +85.2% |
| Recurring financial income | 75 | €146 | €270 | +€124 | +85.2% |
| Financial charges | 65/66B | €3,126 | €2,762 | -€363 | -11.6% |
| Recurring financial charges | 65 | €3,126 | €2,762 | -€363 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €6,420 | €11,697 | +€5,277 | +82.2% |
| Income taxes | 67/77 | €734 | €4,025 | +€3,291 | +448% |
| Profit (loss) for the period | 9904 | €5,686 | €7,672 | +€1,986 | +34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,686 | €7,672 | +€1,986 | +34.9% |
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 24 October 2026 via checked.be.