SP: 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.
SP
Largest movements
- Cash +€189,830
up €189,830 (+546.9%), from €34,709 to €224,539
mainly Net result for the year (+€140,300) and Tax, wage and social debts (+€44,524)
- Receivables within one year -€11,685
down €11,685 (-30.9%), from €37,811 to €26,126
- Deferred charges and accrued income -€5,717
down €5,717 (-100.0%), from €5,718 to €1
- Tangible fixed assets -€4,825
down €4,825 (-36.3%), from €13,296 to €8,471
- Reserves +€140,300
up €140,300 (+293.9%), from €47,738 to €188,038
- Tax, wage and social debts +€44,524
up €44,524 (+334.5%), from €13,311 to €57,835
- Other debts -€17,313
down €17,313 (-61.9%), from €27,948 to €10,635
- Gross operating margin +€140,837
up €140,837 (+223.8%), from €62,925 to €203,762
- Taxes +€44,524
up €44,524 (+352.6%), from €12,626 to €57,150
- Depreciation +€2,531
up €2,531 (+110.3%), from €2,294 to €4,825
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 | €91,534 | €259,137 | +€167,602 | +183.1% |
| Fixed assets | 21/28 | €13,296 | €8,471 | -€4,825 | -36.3% |
| Tangible fixed assets | 22/27 | €13,296 | €8,471 | -€4,825 | -36.3% |
| Furniture and vehicles | 24 | €13,296 | €8,471 | -€4,825 | -36.3% |
| Current assets | 29/58 | €78,238 | €250,666 | +€172,428 | +220.4% |
| Amounts receivable within one year | 40/41 | €37,811 | €26,126 | -€11,685 | -30.9% |
| Trade receivables | 40 | €37,811 | €26,126 | -€11,685 | -30.9% |
| Cash at bank and in hand | 54/58 | €34,709 | €224,539 | +€189,830 | +546.9% |
| Deferred charges and accrued income | 490/1 | €5,718 | €1 | -€5,717 | -100.0% |
| Total equity and liabilities | 10/49 | €91,534 | €259,137 | +€167,602 | +183.1% |
| Equity | 10/15 | €50,238 | €190,538 | +€140,300 | +279.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €47,738 | €188,038 | +€140,300 | +293.9% |
| Distributable reserves | 133 | €47,738 | €188,038 | +€140,300 | +293.9% |
| Amounts payable | 17/49 | €41,297 | €68,599 | +€27,302 | +66.1% |
| Amounts payable within one year | 42/48 | €41,260 | €68,599 | +€27,339 | +66.3% |
| Trade debts | 44 | - | €129 | +€129 | |
| Suppliers | 440/4 | - | €129 | +€129 | |
| Taxes, remuneration and social security | 45 | €13,311 | €57,835 | +€44,524 | +334.5% |
| Taxes | 450/3 | €13,311 | €57,835 | +€44,524 | +334.5% |
| Other amounts payable | 47/48 | €27,948 | €10,635 | -€17,313 | -61.9% |
| Accrued charges and deferred income | 492/3 | €37 | - | -€37 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,294 | €4,825 | +€2,531 | +110.3% |
| Other operating charges | 640/8 | €231 | €959 | +€728 | +316.0% |
| Gross operating margin | 9900 | €62,925 | €203,762 | +€140,837 | +223.8% |
| Operating profit (loss) | 9901 | €60,400 | €197,978 | +€137,578 | +227.8% |
| Financial income | 75/76B | €2 | €3 | +€1 | +73.4% |
| Recurring financial income | 75 | €2 | €3 | +€1 | +73.4% |
| Financial charges | 65/66B | €38 | €531 | +€493 | +1294.7% |
| Recurring financial charges | 65 | €38 | €531 | +€493 | +1294.7% |
| Profit (loss) for the period before taxes | 9903 | €60,364 | €197,450 | +€137,086 | +227.1% |
| Income taxes | 67/77 | €12,626 | €57,150 | +€44,524 | +352.6% |
| Profit (loss) for the period | 9904 | €47,738 | €140,300 | +€92,562 | +193.9% |
| Profit (loss) for the period to be appropriated | 9905 | €47,738 | €140,300 | +€92,562 | +193.9% |
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 12 October 2026 via checked.be.