TARGETIVE.X: 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.
TARGETIVE.X
Largest movements
- Cash +€90,270
up €90,270 (+160%), from €56,410 to €146,680
mainly Net result for the year (+€58,856) and Receivables within one year (+€16,824)
- Receivables within one year -€16,824
down €16,824 (-42.9%), from €39,224 to €22,400
of which Trade receivables: -€14,654
- Financial fixed assets +€3,270
new in 2025: €3,270
- Tangible fixed assets -€1,866
down €1,866 (-26.8%), from €6,968 to €5,101
of which Furniture and vehicles: -€1,107
- Profit (loss) carried forward +€57,997
up €57,997 (+77.4%), from €74,967 to €132,964
- Tax, wage and social debts +€16,509
up €16,509 (+79.4%), from €20,780 to €37,289
- Gross operating margin -€20,440
down €20,440 (-20.6%), from €99,020 to €78,580
- Taxes -€4,270
down €4,270 (-20.6%), from €20,780 to €16,509
- Depreciation +€1,020
up €1,020 (+121%), from €846 to €1,866
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 | €103,068 | €179,388 | +€76,320 | +74.0% |
| Fixed assets | 21/28 | €6,968 | €8,371 | +€1,404 | +20.1% |
| Tangible fixed assets | 22/27 | €6,968 | €5,101 | -€1,866 | -26.8% |
| Plant, machinery and equipment | 23 | €1,993 | €1,234 | -€759 | -38.1% |
| Furniture and vehicles | 24 | €4,974 | €3,867 | -€1,107 | -22.3% |
| Financial fixed assets | 28 | - | €3,270 | +€3,270 | |
| Current assets | 29/58 | €96,100 | €171,017 | +€74,917 | +78.0% |
| Amounts receivable within one year | 40/41 | €39,224 | €22,400 | -€16,824 | -42.9% |
| Trade receivables | 40 | €34,819 | €20,165 | -€14,654 | -42.1% |
| Other amounts receivable | 41 | €4,405 | €2,235 | -€2,170 | -49.3% |
| Cash at bank and in hand | 54/58 | €56,410 | €146,680 | +€90,270 | +160% |
| Deferred charges and accrued income | 490/1 | €466 | €1,937 | +€1,471 | +315% |
| Total equity and liabilities | 10/49 | €103,068 | €179,388 | +€76,320 | +74.0% |
| Equity | 10/15 | €79,967 | €137,964 | +€57,997 | +72.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,967 | €132,964 | +€57,997 | +77.4% |
| Amounts payable | 17/49 | €23,101 | €41,424 | +€18,323 | +79.3% |
| Amounts payable within one year | 42/48 | €23,101 | €41,424 | +€18,323 | +79.3% |
| Trade debts | 44 | €1,586 | €3,276 | +€1,690 | +107% |
| Suppliers | 440/4 | €1,586 | €3,276 | +€1,690 | +107% |
| Taxes, remuneration and social security | 45 | €20,780 | €37,289 | +€16,509 | +79.4% |
| Taxes | 450/3 | €20,780 | €37,289 | +€16,509 | +79.4% |
| Other amounts payable | 47/48 | €735 | €859 | +€124 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €846 | €1,866 | +€1,020 | +121% |
| Other operating charges | 640/8 | €118 | €500 | +€382 | +323% |
| Gross operating margin | 9900 | €99,020 | €78,580 | -€20,440 | -20.6% |
| Operating profit (loss) | 9901 | €98,055 | €76,214 | -€21,841 | -22.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,450 | €850 | -€600 | -41.4% |
| Recurring financial charges | 65 | €1,450 | €850 | -€600 | -41.4% |
| Profit (loss) for the period before taxes | 9903 | €96,605 | €75,366 | -€21,240 | -22.0% |
| Income taxes | 67/77 | €20,780 | €16,509 | -€4,270 | -20.6% |
| Profit (loss) for the period | 9904 | €75,826 | €58,856 | -€16,969 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €75,826 | €58,856 | -€16,969 | -22.4% |
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.