THE AMERICAN: 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.
THE AMERICAN
Largest movements
- Receivables within one year +€93,188
up €93,188 (+408%), from €22,820 to €116,008
- Cash +€70,347
up €70,347 (+183%), from €38,416 to €108,764
mainly Net result for the year (+€626,629) and Advances received (+€116,008)
- Advances received +€116,008
new in 2025: €116,008
- Trade debts +€43,986
up €43,986 (+33,355%), from €132 to €44,118
- Other debts -€7,160
down €7,160 (-15.2%), from €47,100 to €39,940
- Short-term financial debts +€5,826
up €5,826 (+4,929%), from €118 to €5,944
- Tax, wage and social debts +€2,447
up €2,447 (+43.1%), from €5,681 to €8,128
- Gross operating margin +€725,364
up €725,364 (+549%), from €132,095 to €857,459
- Taxes +€188,074
up €188,074 (+1,140%), from €16,500 to €204,574
- Financial charges +€19,246
up €19,246 (+308%), from €6,256 to €25,502
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 | €61,236 | €224,771 | +€163,535 | +267% |
| Current assets | 29/58 | €61,236 | €224,771 | +€163,535 | +267% |
| Amounts receivable within one year | 40/41 | €22,820 | €116,008 | +€93,188 | +408% |
| Trade receivables | 40 | €22,820 | €116,008 | +€93,188 | +408% |
| Cash at bank and in hand | 54/58 | €38,416 | €108,764 | +€70,347 | +183% |
| Total equity and liabilities | 10/49 | €61,236 | €224,771 | +€163,535 | +267% |
| Equity | 10/15 | €6,405 | €7,034 | +€629 | +9.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €4,000 | +€4,000 | |
| Other | 1109/19 | - | €4,000 | +€4,000 | |
| Reserves | 13 | €2,405 | €3,034 | +€629 | +26.2% |
| Distributable reserves | 133 | €2,405 | €3,034 | +€629 | +26.2% |
| Amounts payable | 17/49 | €54,831 | €217,738 | +€162,906 | +297% |
| Amounts payable within one year | 42/48 | €53,031 | €214,138 | +€161,106 | +304% |
| Financial debts | 43 | €118 | €5,944 | +€5,826 | +4,929% |
| Credit institutions | 430/8 | €118 | €5,944 | +€5,826 | +4,929% |
| Trade debts | 44 | €132 | €44,118 | +€43,986 | +33,355% |
| Suppliers | 440/4 | €132 | €44,118 | +€43,986 | +33,355% |
| Advances received on contracts in progress | 46 | - | €116,008 | +€116,008 | |
| Taxes, remuneration and social security | 45 | €5,681 | €8,128 | +€2,447 | +43.1% |
| Taxes | 450/3 | €5,681 | €8,128 | +€2,447 | +43.1% |
| Other amounts payable | 47/48 | €47,100 | €39,940 | -€7,160 | -15.2% |
| Accrued charges and deferred income | 492/3 | €1,800 | €3,600 | +€1,800 | +100% |
| Other operating charges | 640/8 | €449 | €1,664 | +€1,214 | +270% |
| Gross operating margin | 9900 | €132,095 | €857,459 | +€725,364 | +549% |
| Operating profit (loss) | 9901 | €131,645 | €855,795 | +€724,150 | +550% |
| Financial income | 75/76B | - | €910 | +€910 | |
| Recurring financial income | 75 | - | €910 | +€910 | |
| Financial charges | 65/66B | €6,256 | €25,502 | +€19,246 | +308% |
| Recurring financial charges | 65 | €6,256 | €25,502 | +€19,246 | +308% |
| Profit (loss) for the period before taxes | 9903 | €125,389 | €831,203 | +€705,814 | +563% |
| Income taxes | 67/77 | €16,500 | €204,574 | +€188,074 | +1,140% |
| Profit (loss) for the period | 9904 | €108,889 | €626,629 | +€517,740 | +475% |
| Profit (loss) for the period to be appropriated | 9905 | €108,889 | €626,629 | +€517,740 | +475% |
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 21 October 2026 via checked.be.