SUBTILIS: 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.
SUBTILIS
Largest movements
- Tangible fixed assets +€4,939
up €4,939 (+149.9%), from €3,295 to €8,233
of which Furniture and vehicles: +€5,608
- Cash +€1,979
up €1,979 (+3.2%), from €62,693 to €64,671
mainly Net result for the year (+€32,941) and Current portion of long-term debt (+€4,029)
- Tax, wage and social debts -€4,261
down €4,261 (-34.2%), from €12,442 to €8,181
of which Remuneration and social security: -€3,050
- Current portion of long-term debt +€4,029
new in 2025: €4,029
- Other debts +€2,738
up €2,738 (+11.5%), from €23,718 to €26,456
- Trade debts +€2,185
up €2,185 (+133.9%), from €1,631 to €3,816
- Debts after one year +€1,026
new in 2025: €1,026
- Gross operating margin -€3,868
down €3,868 (-7.4%), from €52,568 to €48,699
- Depreciation +€1,245
up €1,245 (+102.3%), from €1,217 to €2,461
- Taxes -€912
down €912 (-8.6%), from €10,597 to €9,685
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 | €76,497 | €83,156 | +€6,658 | +8.7% |
| Fixed assets | 21/28 | €3,295 | €8,233 | +€4,939 | +149.9% |
| Tangible fixed assets | 22/27 | €3,295 | €8,233 | +€4,939 | +149.9% |
| Furniture and vehicles | 24 | €1,168 | €6,776 | +€5,608 | +480.1% |
| Other tangible fixed assets | 26 | €2,126 | €1,457 | -€669 | -31.5% |
| Current assets | 29/58 | €73,203 | €74,922 | +€1,720 | +2.3% |
| Amounts receivable within one year | 40/41 | €10,510 | €10,251 | -€259 | -2.5% |
| Trade receivables | 40 | - | €363 | +€363 | |
| Other amounts receivable | 41 | €10,510 | €9,888 | -€622 | -5.9% |
| Cash at bank and in hand | 54/58 | €62,693 | €64,671 | +€1,979 | +3.2% |
| Total equity and liabilities | 10/49 | €76,497 | €83,156 | +€6,658 | +8.7% |
| Equity | 10/15 | €38,706 | €39,647 | +€941 | +2.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | €10,000 | = | 0.0% |
| Issued capital | 100 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,706 | €29,647 | +€941 | +3.3% |
| Amounts payable | 17/49 | €37,792 | €43,509 | +€5,717 | +15.1% |
| Amounts payable after more than one year | 17 | - | €1,026 | +€1,026 | |
| Financial debts | 170/4 | - | €1,026 | +€1,026 | |
| Amounts payable within one year | 42/48 | €37,792 | €42,483 | +€4,691 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | - | €4,029 | +€4,029 | |
| Trade debts | 44 | €1,631 | €3,816 | +€2,185 | +133.9% |
| Suppliers | 440/4 | €1,631 | €3,816 | +€2,185 | +133.9% |
| Taxes, remuneration and social security | 45 | €12,442 | €8,181 | -€4,261 | -34.2% |
| Taxes | 450/3 | €8,946 | €7,735 | -€1,211 | -13.5% |
| Remuneration and social security | 454/9 | €3,496 | €446 | -€3,050 | -87.3% |
| Other amounts payable | 47/48 | €23,718 | €26,456 | +€2,738 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,217 | €2,461 | +€1,245 | +102.3% |
| Other operating charges | 640/8 | €3,116 | €3,523 | +€407 | +13.0% |
| Gross operating margin | 9900 | €52,568 | €48,699 | -€3,868 | -7.4% |
| Operating profit (loss) | 9901 | €48,235 | €42,715 | -€5,520 | -11.4% |
| Financial income | 75/76B | - | €506 | +€506 | |
| Recurring financial income | 75 | - | €506 | +€506 | |
| Financial charges | 65/66B | €116 | €595 | +€480 | +415.1% |
| Recurring financial charges | 65 | €116 | €595 | +€480 | +415.1% |
| Profit (loss) for the period before taxes | 9903 | €48,120 | €42,626 | -€5,494 | -11.4% |
| Income taxes | 67/77 | €10,597 | €9,685 | -€912 | -8.6% |
| Profit (loss) for the period | 9904 | €37,523 | €32,941 | -€4,582 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €37,523 | €32,941 | -€4,582 | -12.2% |
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 10 October 2026 via checked.be.