START CONSTRUCT: 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.
START CONSTRUCT
Largest movements
- Cash +€6,060
up €6,060 (+132.7%), from €4,567 to €10,627
mainly Net result for the year (+€5,326) and Depreciation (+€1,419)
- Tangible fixed assets -€1,419
down €1,419 (-66.8%), from €2,125 to €706
of which Furniture and vehicles: -€1,217
- Receivables within one year +€799
up €799 (+2.9%), from €27,363 to €28,162
of which Other amounts receivable: +€911
- Deferred charges and accrued income +€456
new in 2025: €456
- Profit (loss) carried forward +€5,326
up €5,326 (+22.6%), from €23,525 to €28,850
- Trade debts +€468
new in 2025: €468
- Gross operating margin +€6,670
up €6,670 (+36.6%), from €18,198 to €24,868
- Depreciation -€1,348
down €1,348 (-48.7%), from €2,766 to €1,419
- Other operating charges +€500
up €500 (+58.5%), from €854 to €1,355
- Staff costs +€400
new in 2025: €400
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 | €34,055 | €39,950 | +€5,896 | +17.3% |
| Fixed assets | 21/28 | €2,125 | €706 | -€1,419 | -66.8% |
| Tangible fixed assets | 22/27 | €2,125 | €706 | -€1,419 | -66.8% |
| Plant, machinery and equipment | 23 | €383 | €182 | -€201 | -52.6% |
| Furniture and vehicles | 24 | €1,742 | €525 | -€1,217 | -69.9% |
| Current assets | 29/58 | €31,930 | €39,244 | +€7,314 | +22.9% |
| Amounts receivable within one year | 40/41 | €27,363 | €28,162 | +€799 | +2.9% |
| Trade receivables | 40 | €13,385 | €13,273 | -€112 | -0.8% |
| Other amounts receivable | 41 | €13,978 | €14,889 | +€911 | +6.5% |
| Cash at bank and in hand | 54/58 | €4,567 | €10,627 | +€6,060 | +132.7% |
| Deferred charges and accrued income | 490/1 | - | €456 | +€456 | |
| Total equity and liabilities | 10/49 | €34,055 | €39,950 | +€5,896 | +17.3% |
| Equity | 10/15 | €28,525 | €33,850 | +€5,326 | +18.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,525 | €28,850 | +€5,326 | +22.6% |
| Amounts payable | 17/49 | €5,530 | €6,100 | +€570 | +10.3% |
| Amounts payable within one year | 42/48 | €5,530 | €6,100 | +€570 | +10.3% |
| Trade debts | 44 | - | €468 | +€468 | |
| Suppliers | 440/4 | - | €468 | +€468 | |
| Taxes, remuneration and social security | 45 | €5,530 | €5,632 | +€102 | +1.8% |
| Taxes | 450/3 | €5,530 | €5,632 | +€102 | +1.8% |
| Remuneration, social security and pensions | 62 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,766 | €1,419 | -€1,348 | -48.7% |
| Other operating charges | 640/8 | €854 | €1,355 | +€500 | +58.5% |
| Non-recurring operating charges | 66A | - | €12,800 | +€12,800 | |
| Gross operating margin | 9900 | €18,198 | €24,868 | +€6,670 | +36.6% |
| Operating profit (loss) | 9901 | €14,577 | €8,895 | -€5,683 | -39.0% |
| Financial income | 75/76B | €27 | €97 | +€70 | +259.9% |
| Recurring financial income | 75 | €27 | €97 | +€70 | +259.9% |
| Financial charges | 65/66B | €267 | €341 | +€74 | +27.5% |
| Recurring financial charges | 65 | €267 | €341 | +€74 | +27.5% |
| Profit (loss) for the period before taxes | 9903 | €14,337 | €8,651 | -€5,686 | -39.7% |
| Income taxes | 67/77 | €3,224 | €3,325 | +€102 | +3.1% |
| Profit (loss) for the period | 9904 | €11,113 | €5,326 | -€5,788 | -52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,113 | €5,326 | -€5,788 | -52.1% |
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 8 October 2026 via checked.be.