Th(is)²Modeling: 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.
Th(is)²Modeling
Largest movements
- Cash +€240,280
up €240,280 (+307.4%), from €78,172 to €318,453
mainly Net result for the year (+€192,830) and Tax, wage and social debts (+€60,870)
- Receivables within one year -€5,190
down €5,190 (-4.4%), from €119,035 to €113,845
of which Trade receivables: -€7,029
- Profit (loss) carried forward +€135,687
up €135,687 (+93.7%), from €144,849 to €280,536
- Tax, wage and social debts +€60,870
up €60,870 (+126.8%), from €47,990 to €108,860
- Trade debts +€39,374
up €39,374 (+1737.5%), from €2,266 to €41,640
- Gross operating margin +€81,790
up €81,790 (+25.0%), from €326,708 to €408,498
- Taxes +€17,584
up €17,584 (+41.7%), from €42,159 to €59,743
- Staff costs +€16,511
up €16,511 (+11.8%), from €139,507 to €156,018
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 | €199,993 | €435,515 | +€235,522 | +117.8% |
| Current assets | 29/58 | €199,993 | €435,515 | +€235,522 | +117.8% |
| Amounts receivable within one year | 40/41 | €119,035 | €113,845 | -€5,190 | -4.4% |
| Trade receivables | 40 | €118,375 | €111,346 | -€7,029 | -5.9% |
| Other amounts receivable | 41 | €660 | €2,499 | +€1,839 | +278.6% |
| Cash at bank and in hand | 54/58 | €78,172 | €318,453 | +€240,280 | +307.4% |
| Deferred charges and accrued income | 490/1 | €2,786 | €3,217 | +€431 | +15.5% |
| Total equity and liabilities | 10/49 | €199,993 | €435,515 | +€235,522 | +117.8% |
| Equity | 10/15 | €147,849 | €283,536 | +€135,687 | +91.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €144,849 | €280,536 | +€135,687 | +93.7% |
| Amounts payable | 17/49 | €52,144 | €151,978 | +€99,834 | +191.5% |
| Amounts payable within one year | 42/48 | €52,144 | €151,978 | +€99,834 | +191.5% |
| Financial debts | 43 | €141 | €746 | +€604 | +427.0% |
| Credit institutions | 430/8 | €141 | €746 | +€604 | +427.0% |
| Trade debts | 44 | €2,266 | €41,640 | +€39,374 | +1737.5% |
| Suppliers | 440/4 | €2,266 | €41,640 | +€39,374 | +1737.5% |
| Taxes, remuneration and social security | 45 | €47,990 | €108,860 | +€60,870 | +126.8% |
| Taxes | 450/3 | €47,990 | €108,860 | +€60,870 | +126.8% |
| Other amounts payable | 47/48 | €1,746 | €733 | -€1,013 | -58.0% |
| Remuneration, social security and pensions | 62 | €139,507 | €156,018 | +€16,511 | +11.8% |
| Other operating charges | 640/8 | €55 | €55 | = | 0.0% |
| Gross operating margin | 9900 | €326,708 | €408,498 | +€81,790 | +25.0% |
| Operating profit (loss) | 9901 | €187,145 | €252,425 | +€65,279 | +34.9% |
| Financial income | 75/76B | €2 | €346 | +€344 | +13806.8% |
| Recurring financial income | 75 | €2 | €346 | +€344 | +13806.8% |
| Financial charges | 65/66B | €140 | €198 | +€59 | +42.1% |
| Recurring financial charges | 65 | €140 | €198 | +€59 | +42.1% |
| Profit (loss) for the period before taxes | 9903 | €187,008 | €252,573 | +€65,564 | +35.1% |
| Income taxes | 67/77 | €42,159 | €59,743 | +€17,584 | +41.7% |
| Profit (loss) for the period | 9904 | €144,849 | €192,830 | +€47,981 | +33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €144,849 | €192,830 | +€47,981 | +33.1% |
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 29 September 2026 via checked.be.