The Bear: 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.
The Bear
Largest movements
- Receivables within one year +€11,785
up €11,785 (+108.9%), from €10,824 to €22,609
of which Other amounts receivable: +€11,812
- Cash -€4,944
down €4,944 (-46.7%), from €10,583 to €5,639
mainly Receivables within one year (-€11,785) and Tax, wage and social debts (-€3,302)
- Tangible fixed assets +€455
up €455 (+19.5%), from €2,341 to €2,796
of which Furniture and vehicles: +€1,313
- Profit (loss) carried forward +€13,545
up €13,545 (+101.4%), from €13,353 to €26,898
- Tax, wage and social debts -€3,302
down €3,302 (-63.8%), from €5,173 to €1,871
- Trade debts -€1,769
down €1,769 (-86.5%), from €2,044 to €275
- Other debts -€1,178
no longer reported in 2024 (was €1,178)
- Gross operating margin +€3,162
up €3,162 (+18.1%), from €17,441 to €20,603
- Taxes +€1,357
up €1,357 (+35.5%), from €3,824 to €5,182
- Other operating charges +€999
new in 2024: €999
- Depreciation +€778
up €778 (+336.8%), from €231 to €1,010
- Financial income +€328
up €328 (+1093.2%), from €30 to €358
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,748 | €31,045 | +€7,297 | +30.7% |
| Fixed assets | 21/28 | €2,341 | €2,796 | +€455 | +19.5% |
| Tangible fixed assets | 22/27 | €2,341 | €2,796 | +€455 | +19.5% |
| Plant, machinery and equipment | 23 | €2,341 | €1,484 | -€857 | -36.6% |
| Furniture and vehicles | 24 | - | €1,313 | +€1,313 | |
| Current assets | 29/58 | €21,407 | €28,248 | +€6,841 | +32.0% |
| Amounts receivable within one year | 40/41 | €10,824 | €22,609 | +€11,785 | +108.9% |
| Trade receivables | 40 | €10,824 | €10,797 | -€27 | -0.3% |
| Other amounts receivable | 41 | - | €11,812 | +€11,812 | |
| Cash at bank and in hand | 54/58 | €10,583 | €5,639 | -€4,944 | -46.7% |
| Total equity and liabilities | 10/49 | €23,748 | €31,045 | +€7,297 | +30.7% |
| Equity | 10/15 | €15,353 | €28,898 | +€13,545 | +88.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,353 | €26,898 | +€13,545 | +101.4% |
| Amounts payable | 17/49 | €8,395 | €2,146 | -€6,249 | -74.4% |
| Amounts payable within one year | 42/48 | €8,395 | €2,146 | -€6,249 | -74.4% |
| Trade debts | 44 | €2,044 | €275 | -€1,769 | -86.5% |
| Suppliers | 440/4 | €2,044 | €275 | -€1,769 | -86.5% |
| Taxes, remuneration and social security | 45 | €5,173 | €1,871 | -€3,302 | -63.8% |
| Taxes | 450/3 | €5,173 | €1,871 | -€3,302 | -63.8% |
| Other amounts payable | 47/48 | €1,178 | - | -€1,178 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €231 | €1,010 | +€778 | +336.8% |
| Other operating charges | 640/8 | - | €999 | +€999 | |
| Gross operating margin | 9900 | €17,441 | €20,603 | +€3,162 | +18.1% |
| Operating profit (loss) | 9901 | €17,210 | €18,595 | +€1,385 | +8.0% |
| Financial income | 75/76B | €30 | €358 | +€328 | +1093.2% |
| Recurring financial income | 75 | €30 | €358 | +€328 | +1093.2% |
| Financial charges | 65/66B | €62 | €225 | +€163 | +262.3% |
| Recurring financial charges | 65 | €62 | €225 | +€163 | +262.3% |
| Profit (loss) for the period before taxes | 9903 | €17,178 | €18,727 | +€1,549 | +9.0% |
| Income taxes | 67/77 | €3,824 | €5,182 | +€1,357 | +35.5% |
| Profit (loss) for the period | 9904 | €13,353 | €13,545 | +€192 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,353 | €13,545 | +€192 | +1.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.