STRATEGERY: 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.
STRATEGERY
Largest movements
- Receivables within one year +€55,478
up €55,478 (+177.5%), from €31,247 to €86,725
of which Trade receivables: +€64,791
- Cash +€23,475
up €23,475 (+34.6%), from €67,818 to €91,292
mainly Net result for the year (+€124,289) and Other debts (+€76,408)
- Tangible fixed assets +€8,774
up €8,774 (+59.8%), from €14,666 to €23,440
of which Furniture and vehicles: +€11,511
- Other debts +€76,408
up €76,408 (+424.7%), from €17,992 to €94,400
- Tax, wage and social debts +€12,837
up €12,837 (+41.3%), from €31,067 to €43,905
- Reserves -€8,000
down €8,000 (-15.8%), from €50,760 to €42,760
of which Distributable reserves: -€8,000
- Debts after one year +€3,005
new in 2025: €3,005
- Gross operating margin +€121,905
up €121,905 (+294.1%), from €41,449 to €163,354
- Taxes +€24,280
up €24,280 (+325.6%), from €7,458 to €31,738
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 | €113,801 | €201,528 | +€87,726 | +77.1% |
| Fixed assets | 21/28 | €14,737 | €23,511 | +€8,774 | +59.5% |
| Tangible fixed assets | 22/27 | €14,666 | €23,440 | +€8,774 | +59.8% |
| Furniture and vehicles | 24 | €1,711 | €13,222 | +€11,511 | +672.7% |
| Other tangible fixed assets | 26 | €12,955 | €10,218 | -€2,737 | -21.1% |
| Financial fixed assets | 28 | €71 | €71 | = | 0.0% |
| Current assets | 29/58 | €99,065 | €178,017 | +€78,952 | +79.7% |
| Amounts receivable within one year | 40/41 | €31,247 | €86,725 | +€55,478 | +177.5% |
| Trade receivables | 40 | €12,075 | €76,865 | +€64,791 | +536.6% |
| Other amounts receivable | 41 | €19,172 | €9,860 | -€9,313 | -48.6% |
| Cash at bank and in hand | 54/58 | €67,818 | €91,292 | +€23,475 | +34.6% |
| Total equity and liabilities | 10/49 | €113,801 | €201,528 | +€87,726 | +77.1% |
| Equity | 10/15 | €63,160 | €55,449 | -€7,711 | -12.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €50,760 | €42,760 | -€8,000 | -15.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €48,900 | €40,900 | -€8,000 | -16.4% |
| Profit (loss) carried forward | 14 | - | €289 | +€289 | |
| Amounts payable | 17/49 | €50,641 | €146,079 | +€95,437 | +188.5% |
| Amounts payable after more than one year | 17 | - | €3,005 | +€3,005 | |
| Financial debts | 170/4 | - | €3,005 | +€3,005 | |
| Amounts payable within one year | 42/48 | €50,641 | €143,074 | +€92,433 | +182.5% |
| Current portion of amounts payable after more than one year | 42 | €720 | €2,312 | +€1,592 | +221.0% |
| Trade debts | 44 | €861 | €2,457 | +€1,596 | +185.3% |
| Suppliers | 440/4 | €861 | €2,457 | +€1,596 | +185.3% |
| Taxes, remuneration and social security | 45 | €31,067 | €43,905 | +€12,837 | +41.3% |
| Taxes | 450/3 | €31,067 | €43,905 | +€12,837 | +41.3% |
| Other amounts payable | 47/48 | €17,992 | €94,400 | +€76,408 | +424.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,700 | €6,308 | +€1,608 | +34.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €41,449 | €163,354 | +€121,905 | +294.1% |
| Operating profit (loss) | 9901 | €36,361 | €156,646 | +€120,284 | +330.8% |
| Financial income | 75/76B | €645 | €239 | -€406 | -62.9% |
| Recurring financial income | 75 | €645 | €239 | -€406 | -62.9% |
| Financial charges | 65/66B | €1,034 | €857 | -€176 | -17.0% |
| Recurring financial charges | 65 | €1,034 | €857 | -€176 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €35,973 | €156,028 | +€120,055 | +333.7% |
| Income taxes | 67/77 | €7,458 | €31,738 | +€24,280 | +325.6% |
| Profit (loss) for the period | 9904 | €28,515 | €124,289 | +€95,775 | +335.9% |
| Profit (loss) for the period to be appropriated | 9905 | €28,515 | €124,289 | +€95,775 | +335.9% |
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.