SKIP FORWARD: 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.
SKIP FORWARD
Largest movements
- Intangible fixed assets +€501,598
up €501,598 (+2458.8%), from €20,400 to €521,998
- Cash +€46,611
up €46,611 (+23109.2%), from €202 to €46,813
mainly Short-term financial debts (+€468,569) and Other debts (+€89,850)
- Short-term financial debts +€468,569
up €468,569 (+42223.3%), from €1,110 to €469,679
- Other debts +€89,850
up €89,850 (+161.6%), from €55,603 to €145,453
- Gross operating margin +€27,669
up €27,669 (+93.6%), from €29,557 to €57,226
- Depreciation +€16,118
up €16,118 (+53.3%), from €30,255 to €46,373
- Financial income +€5,296
up €5,296 (+12.1%), from €43,677 to €48,973
- Taxes +€3,965
up €3,965 (+27.2%), from €14,565 to €18,531
- Financial charges +€691
up €691 (+38.2%), from €1,808 to €2,499
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 | €373,167 | €929,466 | +€556,299 | +149.1% |
| Fixed assets | 21/28 | €24,864 | €533,065 | +€508,201 | +2043.9% |
| Intangible fixed assets | 21 | €20,400 | €521,998 | +€501,598 | +2458.8% |
| Tangible fixed assets | 22/27 | €4,464 | €2,422 | -€2,042 | -45.7% |
| Furniture and vehicles | 24 | €4,464 | €2,422 | -€2,042 | -45.7% |
| Financial fixed assets | 28 | - | €8,645 | +€8,645 | |
| Current assets | 29/58 | €348,303 | €396,401 | +€48,098 | +13.8% |
| Amounts receivable within one year | 40/41 | €14,697 | €16,565 | +€1,868 | +12.7% |
| Trade receivables | 40 | €13,262 | €13,826 | +€563 | +4.2% |
| Other amounts receivable | 41 | €1,435 | €2,739 | +€1,304 | +90.9% |
| Current investments | 50/53 | €333,023 | €333,023 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €202 | €46,813 | +€46,611 | +23109.2% |
| Deferred charges and accrued income | 490/1 | €381 | - | -€381 | |
| Total equity and liabilities | 10/49 | €373,167 | €929,466 | +€556,299 | +149.1% |
| Equity | 10/15 | €281,445 | €285,712 | +€4,267 | +1.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €171,546 | €175,813 | +€4,267 | +2.5% |
| Distributable reserves | 133 | €171,546 | €175,813 | +€4,267 | +2.5% |
| Profit (loss) carried forward | 14 | €97,499 | €97,499 | = | 0.0% |
| Amounts payable | 17/49 | €91,722 | €643,755 | +€552,032 | +601.9% |
| Amounts payable after more than one year | 17 | €690 | - | -€690 | |
| Financial debts | 170/4 | €690 | - | -€690 | |
| Amounts payable within one year | 42/48 | €83,588 | €643,755 | +€560,166 | +670.1% |
| Current portion of amounts payable after more than one year | 42 | €4,232 | €4,441 | +€208 | +4.9% |
| Financial debts | 43 | €1,110 | €469,679 | +€468,569 | +42223.3% |
| Credit institutions | 430/8 | €1,110 | €469,679 | +€468,569 | +42223.3% |
| Trade debts | 44 | €2,556 | €4,334 | +€1,777 | +69.5% |
| Suppliers | 440/4 | €2,556 | €4,334 | +€1,777 | +69.5% |
| Taxes, remuneration and social security | 45 | €20,086 | €19,848 | -€238 | -1.2% |
| Taxes | 450/3 | €20,086 | €19,848 | -€238 | -1.2% |
| Other amounts payable | 47/48 | €55,603 | €145,453 | +€89,850 | +161.6% |
| Accrued charges and deferred income | 492/3 | €7,444 | - | -€7,444 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,255 | €46,373 | +€16,118 | +53.3% |
| Other operating charges | 640/8 | €472 | €444 | -€27 | -5.8% |
| Gross operating margin | 9900 | €29,557 | €57,226 | +€27,669 | +93.6% |
| Operating profit (loss) | 9901 | -€1,169 | €10,408 | +€11,577 | |
| Financial income | 75/76B | €43,677 | €48,973 | +€5,296 | +12.1% |
| Recurring financial income | 75 | €43,677 | €48,973 | +€5,296 | +12.1% |
| Financial charges | 65/66B | €1,808 | €2,499 | +€691 | +38.2% |
| Recurring financial charges | 65 | €1,808 | €2,499 | +€691 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | €40,700 | €56,883 | +€16,183 | +39.8% |
| Income taxes | 67/77 | €14,565 | €18,531 | +€3,965 | +27.2% |
| Profit (loss) for the period | 9904 | €26,135 | €38,352 | +€12,217 | +46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,135 | €38,352 | +€12,217 | +46.7% |
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 2 October 2026 via checked.be.