Systemic Strategies: 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.
Systemic Strategies
Largest movements
- Cash +€29,491
up €29,491 (+28.1%), from €104,969 to €134,459
mainly Net result for the year (+€62,804) and Tax, wage and social debts (+€14,536)
- Receivables within one year +€25,129
up €25,129 (+41.5%), from €60,587 to €85,716
of which Other amounts receivable: +€27,033
- Tangible fixed assets +€23,340
new in 2025: €23,340
of which Plant, machinery and equipment: +€22,138
- Profit (loss) carried forward +€62,804
up €62,804 (+46.6%), from €134,761 to €197,565
- Tax, wage and social debts +€14,536
up €14,536 (+51.3%), from €28,360 to €42,896
of which Taxes: +€16,864
- Gross operating margin -€23,272
down €23,272 (-22.4%), from €103,814 to €80,542
- Taxes -€6,948
down €6,948 (-29.1%), from €23,871 to €16,924
- Financial income +€3,888
up €3,888 (+180814.9%), from €2 to €3,890
- Write-downs +€2,904
new in 2025: €2,904
- Depreciation +€1,244
new in 2025: €1,244
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 | €165,556 | €243,515 | +€77,959 | +47.1% |
| Fixed assets | 21/28 | - | €23,340 | +€23,340 | |
| Tangible fixed assets | 22/27 | - | €23,340 | +€23,340 | |
| Plant, machinery and equipment | 23 | - | €22,138 | +€22,138 | |
| Furniture and vehicles | 24 | - | €1,201 | +€1,201 | |
| Current assets | 29/58 | €165,556 | €220,175 | +€54,619 | +33.0% |
| Amounts receivable within one year | 40/41 | €60,587 | €85,716 | +€25,129 | +41.5% |
| Trade receivables | 40 | €1,904 | - | -€1,904 | |
| Other amounts receivable | 41 | €58,683 | €85,716 | +€27,033 | +46.1% |
| Cash at bank and in hand | 54/58 | €104,969 | €134,459 | +€29,491 | +28.1% |
| Total equity and liabilities | 10/49 | €165,556 | €243,515 | +€77,959 | +47.1% |
| Equity | 10/15 | €136,761 | €199,565 | +€62,804 | +45.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,761 | €197,565 | +€62,804 | +46.6% |
| Amounts payable | 17/49 | €28,794 | €43,949 | +€15,155 | +52.6% |
| Amounts payable within one year | 42/48 | €28,794 | €43,949 | +€15,155 | +52.6% |
| Trade debts | 44 | €434 | €1,053 | +€619 | +142.5% |
| Suppliers | 440/4 | €434 | €1,053 | +€619 | +142.5% |
| Taxes, remuneration and social security | 45 | €28,360 | €42,896 | +€14,536 | +51.3% |
| Taxes | 450/3 | €26,032 | €42,896 | +€16,864 | +64.8% |
| Remuneration and social security | 454/9 | €2,328 | - | -€2,328 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,244 | +€1,244 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,904 | +€2,904 | |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €103,814 | €80,542 | -€23,272 | -22.4% |
| Operating profit (loss) | 9901 | €103,814 | €75,995 | -€27,820 | -26.8% |
| Financial income | 75/76B | €2 | €3,890 | +€3,888 | +180814.9% |
| Recurring financial income | 75 | €2 | €3,890 | +€3,888 | +180814.9% |
| Financial charges | 65/66B | €182 | €156 | -€26 | -14.1% |
| Recurring financial charges | 65 | €182 | €156 | -€26 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €103,634 | €79,728 | -€23,907 | -23.1% |
| Income taxes | 67/77 | €23,871 | €16,924 | -€6,948 | -29.1% |
| Profit (loss) for the period | 9904 | €79,763 | €62,804 | -€16,959 | -21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €79,763 | €62,804 | -€16,959 | -21.3% |
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.