Stijn Paredis: 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.
Stijn Paredis
Largest movements
- Receivables within one year +€45,462
up €45,462 (+237%), from €19,167 to €64,630
of which Other amounts receivable: +€41,660
- Tangible fixed assets +€10,588
up €10,588 (+335%), from €3,162 to €13,750
of which Plant, machinery and equipment: +€5,760
- Deferred charges and accrued income -€3,212
no longer reported in 2025 (was €3,212)
- Reserves +€23,982
up €23,982 (+131%), from €18,257 to €42,239
of which Distributable reserves: +€23,982
- Tax, wage and social debts +€16,156
up €16,156 (+219%), from €7,379 to €23,535
of which Taxes: +€13,699
- Trade debts +€9,451
new in 2025: €9,451
- Other debts +€2,833
new in 2025: €2,833
- Gross operating margin +€23,379
up €23,379 (+203%), from €11,517 to €34,896
- Financial income -€11,836
no longer reported in 2025 (was €11,836)
- Taxes +€3,921
up €3,921 (+74.0%), from €5,302 to €9,223
- Financial charges -€654
down €654, from €287 to -€367
- Depreciation +€492
up €492 (+37.1%), from €1,327 to €1,819
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.
Derived cash bridge
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 | €25,959 | €78,380 | +€52,422 | +202% |
| Fixed assets | 21/28 | €3,162 | €13,750 | +€10,588 | +335% |
| Tangible fixed assets | 22/27 | €3,162 | €13,750 | +€10,588 | +335% |
| Land and buildings | 22 | - | €4,828 | +€4,828 | |
| Plant, machinery and equipment | 23 | €3,162 | €8,922 | +€5,760 | +182% |
| Current assets | 29/58 | €22,796 | €64,630 | +€41,833 | +184% |
| Amounts receivable within one year | 40/41 | €19,167 | €64,630 | +€45,462 | +237% |
| Trade receivables | 40 | €8,143 | €11,946 | +€3,802 | +46.7% |
| Other amounts receivable | 41 | €11,024 | €52,684 | +€41,660 | +378% |
| Cash at bank and in hand | 54/58 | €417 | - | -€417 | |
| Deferred charges and accrued income | 490/1 | €3,212 | - | -€3,212 | |
| Total equity and liabilities | 10/49 | €25,959 | €78,380 | +€52,422 | +202% |
| Equity | 10/15 | €18,579 | €42,562 | +€23,982 | +129% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €18,257 | €42,239 | +€23,982 | +131% |
| Non-distributable reserves | 130/1 | €842 | €842 | = | 0.0% |
| Reserves not available under the articles | 1311 | €842 | €842 | = | 0.0% |
| Distributable reserves | 133 | €17,415 | €41,398 | +€23,982 | +138% |
| Profit (loss) carried forward | 14 | -€5,878 | -€5,878 | = | 0.0% |
| Amounts payable | 17/49 | €7,379 | €35,818 | +€28,439 | +385% |
| Amounts payable within one year | 42/48 | €7,379 | €35,818 | +€28,439 | +385% |
| Trade debts | 44 | - | €9,451 | +€9,451 | |
| Suppliers | 440/4 | - | €9,451 | +€9,451 | |
| Taxes, remuneration and social security | 45 | €7,379 | €23,535 | +€16,156 | +219% |
| Taxes | 450/3 | €7,379 | €21,079 | +€13,699 | +186% |
| Remuneration and social security | 454/9 | - | €2,457 | +€2,457 | |
| Other amounts payable | 47/48 | - | €2,833 | +€2,833 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,327 | €1,819 | +€492 | +37.1% |
| Other operating charges | 640/8 | €628 | €239 | -€390 | -62.0% |
| Gross operating margin | 9900 | €11,517 | €34,896 | +€23,379 | +203% |
| Operating profit (loss) | 9901 | €9,562 | €32,838 | +€23,276 | +243% |
| Financial income | 75/76B | €11,836 | - | -€11,836 | |
| Recurring financial income | 75 | €11,836 | - | -€11,836 | |
| Financial charges | 65/66B | €287 | -€367 | -€654 | |
| Recurring financial charges | 65 | €287 | -€367 | -€654 | |
| Profit (loss) for the period before taxes | 9903 | €21,111 | €33,206 | +€12,095 | +57.3% |
| Income taxes | 67/77 | €5,302 | €9,223 | +€3,921 | +74.0% |
| Profit (loss) for the period | 9904 | €15,809 | €23,982 | +€8,173 | +51.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,809 | €23,982 | +€8,173 | +51.7% |
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 23 October 2026 via checked.be.