SPEEDLINE: 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.
SPEEDLINE
Largest movements
- Receivables within one year +€53,383
up €53,383 (+76.8%), from €69,545 to €122,929
of which Trade receivables: +€34,379
- Tangible fixed assets +€16,597
up €16,597 (+52.8%), from €31,441 to €48,038
of which Leasing and similar rights: +€18,729
- Cash -€8,012
down €8,012 (-97.3%), from €8,232 to €221
mainly Receivables within one year (-€53,383) and Investment in fixed assets (net) (-€30,665)
- Formation expenses -€2,500
down €2,500 (-14.3%), from €17,500 to €15,000
- Trade debts +€38,114
up €38,114 (+687.3%), from €5,546 to €43,660
- Debts after one year +€13,980
up €13,980 (+164.6%), from €8,494 to €22,474
- Current portion of long-term debt +€5,725
up €5,725 (+38.8%), from €14,748 to €20,472
- Reserves +€3,319
up €3,319 (+5.0%), from €66,020 to €69,339
of which Distributable reserves: +€3,319
- Depreciation +€4,705
up €4,705 (+39.7%), from €11,863 to €16,568
- Gross operating margin -€2,734
down €2,734 (-10.1%), from €27,057 to €24,323
- Taxes -€2,473
down €2,473 (-50.0%), from €4,951 to €2,478
- Financial charges +€1,479
up €1,479 (+79.8%), from €1,853 to €3,332
- Other operating charges +€900
up €900 (+50.8%), from €1,771 to €2,671
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 | €129,805 | €189,374 | +€59,568 | +45.9% |
| Formation expenses | 20 | €17,500 | €15,000 | -€2,500 | -14.3% |
| Fixed assets | 21/28 | €31,441 | €48,038 | +€16,597 | +52.8% |
| Tangible fixed assets | 22/27 | €31,441 | €48,038 | +€16,597 | +52.8% |
| Furniture and vehicles | 24 | €5,541 | €4,744 | -€797 | -14.4% |
| Leasing and similar rights | 25 | €15,252 | €33,981 | +€18,729 | +122.8% |
| Other tangible fixed assets | 26 | €10,648 | €9,313 | -€1,335 | -12.5% |
| Current assets | 29/58 | €80,865 | €126,336 | +€45,471 | +56.2% |
| Amounts receivable within one year | 40/41 | €69,545 | €122,929 | +€53,383 | +76.8% |
| Trade receivables | 40 | €2,308 | €36,687 | +€34,379 | +1489.5% |
| Other amounts receivable | 41 | €67,237 | €86,242 | +€19,004 | +28.3% |
| Cash at bank and in hand | 54/58 | €8,232 | €221 | -€8,012 | -97.3% |
| Deferred charges and accrued income | 490/1 | €3,087 | €3,186 | +€100 | +3.2% |
| Total equity and liabilities | 10/49 | €129,805 | €189,374 | +€59,568 | +45.9% |
| Equity | 10/15 | €92,494 | €95,370 | +€2,876 | +3.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €66,020 | €69,339 | +€3,319 | +5.0% |
| Non-distributable reserves | 130/1 | €2,178 | €2,178 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,178 | €2,178 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,760 | €8,760 | = | 0.0% |
| Distributable reserves | 133 | €55,082 | €58,401 | +€3,319 | +6.0% |
| Investment grants | 15 | €1,474 | €1,031 | -€444 | -30.1% |
| Amounts payable | 17/49 | €37,311 | €94,004 | +€56,693 | +151.9% |
| Amounts payable after more than one year | 17 | €8,494 | €22,474 | +€13,980 | +164.6% |
| Financial debts | 170/4 | €8,494 | €22,474 | +€13,980 | +164.6% |
| Amounts payable within one year | 42/48 | €28,817 | €71,530 | +€42,713 | +148.2% |
| Current portion of amounts payable after more than one year | 42 | €14,748 | €20,472 | +€5,725 | +38.8% |
| Trade debts | 44 | €5,546 | €43,660 | +€38,114 | +687.3% |
| Suppliers | 440/4 | €5,546 | €43,660 | +€38,114 | +687.3% |
| Taxes, remuneration and social security | 45 | €8,524 | €7,398 | -€1,126 | -13.2% |
| Taxes | 450/3 | €8,524 | €7,398 | -€1,126 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,863 | €16,568 | +€4,705 | +39.7% |
| Other operating charges | 640/8 | €1,771 | €2,671 | +€900 | +50.8% |
| Gross operating margin | 9900 | €27,057 | €24,323 | -€2,734 | -10.1% |
| Operating profit (loss) | 9901 | €13,423 | €5,084 | -€8,339 | -62.1% |
| Financial income | 75/76B | €3,873 | €4,046 | +€173 | +4.5% |
| Recurring financial income | 75 | €3,873 | €4,046 | +€173 | +4.5% |
| Financial charges | 65/66B | €1,853 | €3,332 | +€1,479 | +79.8% |
| Recurring financial charges | 65 | €1,853 | €3,332 | +€1,479 | +79.8% |
| Profit (loss) for the period before taxes | 9903 | €15,443 | €5,797 | -€9,645 | -62.5% |
| Income taxes | 67/77 | €4,951 | €2,478 | -€2,473 | -50.0% |
| Profit (loss) for the period | 9904 | €10,492 | €3,319 | -€7,172 | -68.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,492 | €3,319 | -€7,172 | -68.4% |
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.