Sub One: 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.
Sub One
Largest movements
- Cash +€52,100
up €52,100 (+71.3%), from €73,042 to €125,141
mainly Net result for the year (+€65,534) and Tax, wage and social debts (+€12,980)
- Reserves +€23,225
up €23,225 (+19.5%), from €119,403 to €142,628
- Tax, wage and social debts +€12,980
up €12,980 (+52.9%), from €24,530 to €37,510
- Current portion of long-term debt +€12,527
new in 2025: €12,527
- Other debts +€3,365
up €3,365 (+27.1%), from €12,402 to €15,767
- Gross operating margin +€42,804
up €42,804 (+82.0%), from €52,187 to €94,992
- Taxes +€13,641
up €13,641 (+88.2%), from €15,464 to €29,105
- Financial income +€4,204
up €4,204 (+13,068%), from €32 to €4,236
- Depreciation -€2,181
down €2,181 (-51.3%), from €4,249 to €2,069
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 | €175,237 | €225,125 | +€49,888 | +28.5% |
| Fixed assets | 21/28 | €6,972 | €6,902 | -€70 | -1.0% |
| Tangible fixed assets | 22/27 | €6,972 | €6,902 | -€70 | -1.0% |
| Land and buildings | 22 | €3,657 | €3,116 | -€541 | -14.8% |
| Plant, machinery and equipment | 23 | €2,737 | €1,769 | -€968 | -35.4% |
| Furniture and vehicles | 24 | €578 | €2,016 | +€1,439 | +249% |
| Current assets | 29/58 | €168,265 | €218,223 | +€49,958 | +29.7% |
| Amounts receivable within one year | 40/41 | €86,999 | €86,386 | -€612 | -0.7% |
| Trade receivables | 40 | €44,938 | €50,188 | +€5,251 | +11.7% |
| Other amounts receivable | 41 | €42,061 | €36,198 | -€5,863 | -13.9% |
| Cash at bank and in hand | 54/58 | €73,042 | €125,141 | +€52,100 | +71.3% |
| Deferred charges and accrued income | 490/1 | €8,224 | €6,695 | -€1,529 | -18.6% |
| Total equity and liabilities | 10/49 | €175,237 | €225,125 | +€49,888 | +28.5% |
| Equity | 10/15 | €125,603 | €148,828 | +€23,225 | +18.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €119,403 | €142,628 | +€23,225 | +19.5% |
| Distributable reserves | 133 | €119,403 | €142,628 | +€23,225 | +19.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €49,634 | €76,297 | +€26,663 | +53.7% |
| Amounts payable within one year | 42/48 | €49,634 | €76,297 | +€26,663 | +53.7% |
| Current portion of amounts payable after more than one year | 42 | - | €12,527 | +€12,527 | |
| Trade debts | 44 | €12,702 | €10,494 | -€2,208 | -17.4% |
| Suppliers | 440/4 | €12,702 | €10,494 | -€2,208 | -17.4% |
| Taxes, remuneration and social security | 45 | €24,530 | €37,510 | +€12,980 | +52.9% |
| Taxes | 450/3 | €24,530 | €37,510 | +€12,980 | +52.9% |
| Other amounts payable | 47/48 | €12,402 | €15,767 | +€3,365 | +27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,249 | €2,069 | -€2,181 | -51.3% |
| Other operating charges | 640/8 | €1,369 | €1,281 | -€88 | -6.5% |
| Gross operating margin | 9900 | €52,187 | €94,992 | +€42,804 | +82.0% |
| Operating profit (loss) | 9901 | €46,569 | €91,642 | +€45,073 | +96.8% |
| Financial income | 75/76B | €32 | €4,236 | +€4,204 | +13,068% |
| Recurring financial income | 75 | €32 | €4,236 | +€4,204 | +13,068% |
| Financial charges | 65/66B | €2,101 | €1,239 | -€861 | -41.0% |
| Recurring financial charges | 65 | €2,101 | €1,239 | -€861 | -41.0% |
| Profit (loss) for the period before taxes | 9903 | €44,501 | €94,639 | +€50,139 | +113% |
| Income taxes | 67/77 | €15,464 | €29,105 | +€13,641 | +88.2% |
| Profit (loss) for the period | 9904 | €29,037 | €65,534 | +€36,497 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €29,037 | €65,534 | +€36,497 | +126% |
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 17 October 2026 via checked.be.