Strategy Builders: 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.
Strategy Builders
Largest movements
- Receivables within one year +€28,154
up €28,154 (+48.4%), from €58,115 to €86,268
of which Trade receivables: +€27,965
- Cash -€14,258
no longer reported in 2025 (was €14,258)
mainly Receivables within one year (-€28,154) and Current portion of long-term debt (-€7,610)
- Reserves +€26,357
up €26,357 (+39.9%), from €65,998 to €92,355
of which Distributable reserves: +€26,357
- Current portion of long-term debt -€7,610
down €7,610 (-77.0%), from €9,883 to €2,273
- Trade debts -€3,299
down €3,299 (-33.5%), from €9,844 to €6,545
- Debts after one year -€2,273
no longer reported in 2025 (was €2,273)
- Gross operating margin +€21,590
up €21,590 (+81.9%), from €26,351 to €47,940
- Taxes +€5,458
up €5,458 (+94.4%), from €5,780 to €11,238
- Financial charges -€1,515
down €1,515 (-21.0%), from €7,207 to €5,692
- Depreciation -€1,180
down €1,180 (-19.2%), from €6,153 to €4,973
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 | €126,206 | €141,456 | +€15,250 | +12.1% |
| Fixed assets | 21/28 | €11,115 | €11,107 | -€8 | -0.1% |
| Tangible fixed assets | 22/27 | €10,865 | €10,857 | -€8 | -0.1% |
| Furniture and vehicles | 24 | €4,749 | €2,847 | -€1,902 | -40.1% |
| Leasing and similar rights | 25 | €1,094 | €468 | -€626 | -57.2% |
| Other tangible fixed assets | 26 | €5,023 | €7,542 | +€2,520 | +50.2% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €115,091 | €130,349 | +€15,258 | +13.3% |
| Amounts receivable after more than one year | 29 | €40,300 | €40,300 | = | 0.0% |
| Other amounts receivable | 291 | €40,300 | €40,300 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €58,115 | €86,268 | +€28,154 | +48.4% |
| Trade receivables | 40 | €794 | €28,759 | +€27,965 | +3522.0% |
| Other amounts receivable | 41 | €57,321 | €57,509 | +€189 | +0.3% |
| Cash at bank and in hand | 54/58 | €14,258 | - | -€14,258 | |
| Deferred charges and accrued income | 490/1 | €2,418 | €3,780 | +€1,362 | +56.3% |
| Total equity and liabilities | 10/49 | €126,206 | €141,456 | +€15,250 | +12.1% |
| Equity | 10/15 | €72,198 | €98,555 | +€26,357 | +36.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €65,998 | €92,355 | +€26,357 | +39.9% |
| Non-distributable reserves | 130/1 | €574 | €574 | = | 0.0% |
| Reserves not available under the articles | 1311 | €574 | €574 | = | 0.0% |
| Distributable reserves | 133 | €65,424 | €91,781 | +€26,357 | +40.3% |
| Amounts payable | 17/49 | €54,008 | €42,901 | -€11,107 | -20.6% |
| Amounts payable after more than one year | 17 | €2,273 | - | -€2,273 | |
| Financial debts | 170/4 | €2,273 | - | -€2,273 | |
| Amounts payable within one year | 42/48 | €51,735 | €42,901 | -€8,834 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €9,883 | €2,273 | -€7,610 | -77.0% |
| Financial debts | 43 | - | €1,131 | +€1,131 | |
| Credit institutions | 430/8 | - | €1,131 | +€1,131 | |
| Trade debts | 44 | €9,844 | €6,545 | -€3,299 | -33.5% |
| Suppliers | 440/4 | €9,844 | €6,545 | -€3,299 | -33.5% |
| Taxes, remuneration and social security | 45 | €27,540 | €28,090 | +€550 | +2.0% |
| Taxes | 450/3 | €27,540 | €28,090 | +€550 | +2.0% |
| Other amounts payable | 47/48 | €4,468 | €4,861 | +€393 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,153 | €4,973 | -€1,180 | -19.2% |
| Other operating charges | 640/8 | €713 | €907 | +€194 | +27.1% |
| Gross operating margin | 9900 | €26,351 | €47,940 | +€21,590 | +81.9% |
| Operating profit (loss) | 9901 | €19,484 | €42,061 | +€22,576 | +115.9% |
| Financial income | 75/76B | €1,236 | €1,226 | -€10 | -0.8% |
| Recurring financial income | 75 | €1,236 | €1,226 | -€10 | -0.8% |
| Financial charges | 65/66B | €7,207 | €5,692 | -€1,515 | -21.0% |
| Recurring financial charges | 65 | €7,207 | €5,692 | -€1,515 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €13,514 | €37,594 | +€24,081 | +178.2% |
| Income taxes | 67/77 | €5,780 | €11,238 | +€5,458 | +94.4% |
| Profit (loss) for the period | 9904 | €7,734 | €26,357 | +€18,623 | +240.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,734 | €26,357 | +€18,623 | +240.8% |
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.