TAKING WAVES: 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.
TAKING WAVES
Largest movements
- Cash -€13,241
down €13,241 (-41.2%), from €32,161 to €18,920
mainly Contributions, distributions and other (-€43,186) and Debts after one year (-€13,228)
- Receivables within one year +€8,322
up €8,322 (+26.5%), from €31,424 to €39,746
of which Trade receivables: +€26,562
- Debts after one year -€13,228
down €13,228 (-100%), from €13,228 to €0
- Reserves +€8,280
up €8,280 (+11.6%), from €71,656 to €79,935
- Gross operating margin +€23,698
up €23,698 (+47.0%), from €50,467 to €74,165
- Taxes +€6,043
up €6,043 (+45.0%), from €13,428 to €19,470
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 | €144,938 | €139,417 | -€5,521 | -3.8% |
| Fixed assets | 21/28 | €81,353 | €80,751 | -€602 | -0.7% |
| Tangible fixed assets | 22/27 | €1,353 | €751 | -€602 | -44.5% |
| Furniture and vehicles | 24 | €1,353 | €751 | -€602 | -44.5% |
| Financial fixed assets | 28 | €80,000 | €80,000 | = | 0.0% |
| Current assets | 29/58 | €63,586 | €58,666 | -€4,919 | -7.7% |
| Amounts receivable within one year | 40/41 | €31,424 | €39,746 | +€8,322 | +26.5% |
| Trade receivables | 40 | €12,604 | €39,166 | +€26,562 | +211% |
| Other amounts receivable | 41 | €18,820 | €580 | -€18,240 | -96.9% |
| Cash at bank and in hand | 54/58 | €32,161 | €18,920 | -€13,241 | -41.2% |
| Total equity and liabilities | 10/49 | €144,938 | €139,417 | -€5,521 | -3.8% |
| Equity | 10/15 | €74,656 | €82,935 | +€8,280 | +11.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €71,656 | €79,935 | +€8,280 | +11.6% |
| Distributable reserves | 133 | €71,656 | €79,935 | +€8,280 | +11.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €70,283 | €56,482 | -€13,801 | -19.6% |
| Amounts payable after more than one year | 17 | €13,228 | €0 | -€13,228 | -100% |
| Financial debts | 170/4 | €13,228 | €0 | -€13,228 | -100% |
| Amounts payable within one year | 42/48 | €56,735 | €56,082 | -€653 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €12,730 | €13,228 | +€497 | +3.9% |
| Trade debts | 44 | €950 | €1,108 | +€159 | +16.7% |
| Suppliers | 440/4 | €950 | €1,108 | +€159 | +16.7% |
| Taxes, remuneration and social security | 45 | €22,055 | €21,444 | -€611 | -2.8% |
| Taxes | 450/3 | €22,055 | €21,444 | -€611 | -2.8% |
| Other amounts payable | 47/48 | €21,000 | €20,302 | -€698 | -3.3% |
| Accrued charges and deferred income | 492/3 | €320 | €400 | +€80 | +24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €735 | €602 | -€132 | -18.0% |
| Other operating charges | 640/8 | €1,382 | €1,193 | -€190 | -13.7% |
| Gross operating margin | 9900 | €50,467 | €74,165 | +€23,698 | +47.0% |
| Operating profit (loss) | 9901 | €48,350 | €72,370 | +€24,020 | +49.7% |
| Financial income | 75/76B | €569 | €175 | -€394 | -69.3% |
| Recurring financial income | 75 | €569 | €175 | -€394 | -69.3% |
| Financial charges | 65/66B | €1,741 | €1,609 | -€132 | -7.6% |
| Recurring financial charges | 65 | €1,741 | €1,609 | -€132 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €47,178 | €70,936 | +€23,758 | +50.4% |
| Income taxes | 67/77 | €13,428 | €19,470 | +€6,043 | +45.0% |
| Profit (loss) for the period | 9904 | €33,750 | €51,466 | +€17,716 | +52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,750 | €51,466 | +€17,716 | +52.5% |
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 16 October 2026 via checked.be.