SPOT ON: 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.
SPOT ON
Largest movements
- Receivables within one year -€23,998
down €23,998 (-12.0%), from €199,434 to €175,435
of which Trade receivables: -€17,603
- Cash +€18,738
up €18,738 (+111.8%), from €16,753 to €35,491
mainly Net result for the year (+€38,295) and Receivables within one year (+€23,998)
- Trade debts -€53,417
down €53,417 (-93.3%), from €57,224 to €3,807
- Reserves +€38,295
up €38,295 (+29.7%), from €129,057 to €167,351
- Tax, wage and social debts +€6,122
up €6,122 (+84.5%), from €7,249 to €13,371
of which Taxes: +€6,122
- Short-term financial debts +€2,527
up €2,527 (+36.3%), from €6,954 to €9,481
- Gross operating margin +€29,651
up €29,651 (+107.5%), from €27,577 to €57,228
- Taxes +€7,413
up €7,413 (+93.9%), from €7,896 to €15,308
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 | €219,083 | €212,611 | -€6,473 | -3.0% |
| Fixed assets | 21/28 | €2,896 | €1,684 | -€1,212 | -41.9% |
| Tangible fixed assets | 22/27 | €2,851 | €1,639 | -€1,212 | -42.5% |
| Furniture and vehicles | 24 | €2,851 | €1,639 | -€1,212 | -42.5% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €216,187 | €210,927 | -€5,261 | -2.4% |
| Amounts receivable within one year | 40/41 | €199,434 | €175,435 | -€23,998 | -12.0% |
| Trade receivables | 40 | €26,632 | €9,029 | -€17,603 | -66.1% |
| Other amounts receivable | 41 | €172,802 | €166,406 | -€6,396 | -3.7% |
| Cash at bank and in hand | 54/58 | €16,753 | €35,491 | +€18,738 | +111.8% |
| Total equity and liabilities | 10/49 | €219,083 | €212,611 | -€6,473 | -3.0% |
| Equity | 10/15 | €147,657 | €185,951 | +€38,295 | +25.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €129,057 | €167,351 | +€38,295 | +29.7% |
| Distributable reserves | 133 | €129,057 | €167,351 | +€38,295 | +29.7% |
| Amounts payable | 17/49 | €71,427 | €26,659 | -€44,767 | -62.7% |
| Amounts payable within one year | 42/48 | €71,427 | €26,659 | -€44,767 | -62.7% |
| Financial debts | 43 | €6,954 | €9,481 | +€2,527 | +36.3% |
| Credit institutions | 430/8 | €6,954 | €9,481 | +€2,527 | +36.3% |
| Trade debts | 44 | €57,224 | €3,807 | -€53,417 | -93.3% |
| Suppliers | 440/4 | €57,224 | €3,807 | -€53,417 | -93.3% |
| Taxes, remuneration and social security | 45 | €7,249 | €13,371 | +€6,122 | +84.5% |
| Taxes | 450/3 | €5,349 | €11,471 | +€6,122 | +114.5% |
| Remuneration and social security | 454/9 | €1,900 | €1,900 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,215 | €1,212 | -€3 | -0.3% |
| Other operating charges | 640/8 | €972 | €1,004 | +€32 | +3.3% |
| Gross operating margin | 9900 | €27,577 | €57,228 | +€29,651 | +107.5% |
| Operating profit (loss) | 9901 | €25,389 | €55,012 | +€29,622 | +116.7% |
| Financial income | 75/76B | €25 | €46 | +€21 | +84.0% |
| Recurring financial income | 75 | €25 | €46 | +€21 | +84.0% |
| Financial charges | 65/66B | €1,127 | €1,455 | +€328 | +29.1% |
| Recurring financial charges | 65 | €1,127 | €1,455 | +€328 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | €24,288 | €53,603 | +€29,316 | +120.7% |
| Income taxes | 67/77 | €7,896 | €15,308 | +€7,413 | +93.9% |
| Profit (loss) for the period | 9904 | €16,392 | €38,295 | +€21,903 | +133.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,392 | €38,295 | +€21,903 | +133.6% |
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 5 October 2026 via checked.be.