STRAIGHT FORWARD: 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.
STRAIGHT FORWARD
Largest movements
- Cash +€41,747
up €41,747 (+39.7%), from €105,281 to €147,028
mainly Net result for the year (+€123,255) and Current portion of long-term debt (+€67,356)
- Debts after one year -€155,861
down €155,861 (-9.3%), from €1.7m to €1.5m
- Profit (loss) carried forward +€123,255
up €123,255 (+77.9%), from €158,175 to €281,430
- Current portion of long-term debt +€67,356
up €67,356 (+76.1%), from €88,505 to €155,861
- Gross operating margin +€133,721
up €133,721 (+418.9%), from €31,920 to €165,640
- Taxes +€20,682
up €20,682 (+5265.2%), from €393 to €21,074
- Financial charges +€19,594
up €19,594 (+53.0%), from €36,991 to €56,585
- Financial income -€10,982
down €10,982 (-18.4%), from €59,794 to €48,812
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 | €2,404,340 | €2,437,851 | +€33,511 | +1.4% |
| Fixed assets | 21/28 | €2,264,789 | €2,252,253 | -€12,535 | -0.6% |
| Tangible fixed assets | 22/27 | €27,989 | €15,453 | -€12,535 | -44.8% |
| Furniture and vehicles | 24 | €27,989 | €15,453 | -€12,535 | -44.8% |
| Financial fixed assets | 28 | €2,236,800 | €2,236,800 | = | 0.0% |
| Current assets | 29/58 | €139,551 | €185,597 | +€46,046 | +33.0% |
| Amounts receivable within one year | 40/41 | €31,510 | €37,484 | +€5,974 | +19.0% |
| Trade receivables | 40 | €2,420 | €3,397 | +€977 | +40.4% |
| Other amounts receivable | 41 | €29,090 | €34,087 | +€4,997 | +17.2% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €105,281 | €147,028 | +€41,747 | +39.7% |
| Deferred charges and accrued income | 490/1 | €2,760 | €1,085 | -€1,675 | -60.7% |
| Total equity and liabilities | 10/49 | €2,404,340 | €2,437,851 | +€33,511 | +1.4% |
| Equity | 10/15 | €629,675 | €752,930 | +€123,255 | +19.6% |
| Contributions | 10/11 | €471,000 | €471,000 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Distributable reserves | 133 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €158,175 | €281,430 | +€123,255 | +77.9% |
| Amounts payable | 17/49 | €1,774,665 | €1,684,920 | -€89,744 | -5.1% |
| Amounts payable after more than one year | 17 | €1,682,295 | €1,526,434 | -€155,861 | -9.3% |
| Financial debts | 170/4 | €1,682,295 | €1,526,434 | -€155,861 | -9.3% |
| Amounts payable within one year | 42/48 | €92,370 | €158,486 | +€66,117 | +71.6% |
| Current portion of amounts payable after more than one year | 42 | €88,505 | €155,861 | +€67,356 | +76.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €3,305 | €1,909 | -€1,396 | -42.2% |
| Suppliers | 440/4 | €3,305 | €1,909 | -€1,396 | -42.2% |
| Taxes, remuneration and social security | 45 | €560 | €716 | +€156 | +27.8% |
| Taxes | 450/3 | €560 | €716 | +€156 | +27.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,841 | €12,535 | -€306 | -2.4% |
| Other operating charges | 640/8 | €1,088 | €1,002 | -€86 | -7.9% |
| Gross operating margin | 9900 | €31,920 | €165,640 | +€133,721 | +418.9% |
| Operating profit (loss) | 9901 | €17,991 | €152,103 | +€134,113 | +745.5% |
| Financial income | 75/76B | €59,794 | €48,812 | -€10,982 | -18.4% |
| Recurring financial income | 75 | €59,794 | €48,812 | -€10,982 | -18.4% |
| Financial charges | 65/66B | €36,991 | €56,585 | +€19,594 | +53.0% |
| Recurring financial charges | 65 | €36,991 | €56,585 | +€19,594 | +53.0% |
| Profit (loss) for the period before taxes | 9903 | €40,793 | €144,330 | +€103,536 | +253.8% |
| Income taxes | 67/77 | €393 | €21,074 | +€20,682 | +5265.2% |
| Profit (loss) for the period | 9904 | €40,401 | €123,255 | +€82,855 | +205.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,401 | €123,255 | +€82,855 | +205.1% |
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 9 October 2026 via checked.be.