TB21: 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.
TB21
Largest movements
- Current investments +€194,919
new in 2025: €194,919
- Receivables within one year +€121,916
up €121,916 (+203.2%), from €60,000 to €181,916
of which Trade receivables: +€121,500
- Cash +€27,282
up €27,282 (+24.2%), from €112,891 to €140,173
mainly Net result for the year (+€276,025) and Tax, wage and social debts (+€73,895)
- Tangible fixed assets +€5,508
up €5,508 (+500.5%), from €1,101 to €6,609
of which Furniture and vehicles: +€5,897
- Reserves +€276,025
up €276,025 (+211.8%), from €130,351 to €406,375
- Tax, wage and social debts +€73,895
up €73,895 (+195.4%), from €37,811 to €111,706
of which Taxes: +€73,895
- Gross operating margin +€196,271
up €196,271 (+116.6%), from €168,312 to €364,583
- Taxes +€49,240
up €49,240 (+130.2%), from €37,805 to €87,045
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 | €173,991 | €523,617 | +€349,625 | +200.9% |
| Fixed assets | 21/28 | €1,101 | €6,609 | +€5,508 | +500.5% |
| Tangible fixed assets | 22/27 | €1,101 | €6,609 | +€5,508 | +500.5% |
| Plant, machinery and equipment | 23 | €1,101 | €712 | -€389 | -35.3% |
| Furniture and vehicles | 24 | - | €5,897 | +€5,897 | |
| Current assets | 29/58 | €172,891 | €517,008 | +€344,117 | +199.0% |
| Amounts receivable within one year | 40/41 | €60,000 | €181,916 | +€121,916 | +203.2% |
| Trade receivables | 40 | €60,000 | €181,500 | +€121,500 | +202.5% |
| Other amounts receivable | 41 | - | €416 | +€416 | |
| Current investments | 50/53 | - | €194,919 | +€194,919 | |
| Cash at bank and in hand | 54/58 | €112,891 | €140,173 | +€27,282 | +24.2% |
| Total equity and liabilities | 10/49 | €173,991 | €523,617 | +€349,625 | +200.9% |
| Equity | 10/15 | €135,351 | €411,375 | +€276,025 | +203.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €130,351 | €406,375 | +€276,025 | +211.8% |
| Distributable reserves | 133 | €130,351 | €406,375 | +€276,025 | +211.8% |
| Amounts payable | 17/49 | €38,641 | €112,241 | +€73,600 | +190.5% |
| Amounts payable within one year | 42/48 | €38,641 | €112,241 | +€73,600 | +190.5% |
| Trade debts | 44 | €830 | €535 | -€295 | -35.5% |
| Suppliers | 440/4 | €830 | €535 | -€295 | -35.5% |
| Taxes, remuneration and social security | 45 | €37,811 | €111,706 | +€73,895 | +195.4% |
| Taxes | 450/3 | €33,561 | €107,456 | +€73,895 | +220.2% |
| Remuneration and social security | 454/9 | €4,250 | €4,250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66 | €903 | +€836 | +1260.5% |
| Other operating charges | 640/8 | - | €528 | +€528 | |
| Gross operating margin | 9900 | €168,312 | €364,583 | +€196,271 | +116.6% |
| Operating profit (loss) | 9901 | €168,246 | €363,152 | +€194,907 | +115.8% |
| Financial income | 75/76B | - | €595 | +€595 | |
| Recurring financial income | 75 | - | €595 | +€595 | |
| Financial charges | 65/66B | €90 | €677 | +€587 | +652.3% |
| Recurring financial charges | 65 | €90 | €677 | +€587 | +652.3% |
| Profit (loss) for the period before taxes | 9903 | €168,156 | €363,070 | +€194,914 | +115.9% |
| Income taxes | 67/77 | €37,805 | €87,045 | +€49,240 | +130.2% |
| Profit (loss) for the period | 9904 | €130,351 | €276,025 | +€145,674 | +111.8% |
| Profit (loss) for the period to be appropriated | 9905 | €130,351 | €276,025 | +€145,674 | +111.8% |
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.