the-Environment: 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-Environment
Largest movements
- Receivables within one year +€45,124
up €45,124 (+24.3%), from €185,662 to €230,786
of which Other amounts receivable: +€47,374
- Cash -€5,432
down €5,432 (-44.4%), from €12,221 to €6,789
mainly Receivables within one year (-€45,124) and Tax, wage and social debts (-€9,940)
- Tangible fixed assets -€2,553
down €2,553 (-20.1%), from €12,718 to €10,165
of which Furniture and vehicles: -€1,461
- Reserves +€144,974
up €144,974 (+363.8%), from €39,846 to €184,820
- Profit (loss) carried forward -€98,510
down €98,510 (-100.0%), from €98,510 to €0
- Tax, wage and social debts -€9,940
down €9,940 (-23.0%), from €43,195 to €33,255
- Other debts +€4,000
new in 2025: €4,000
- Trade debts -€3,186
down €3,186 (-30.5%), from €10,451 to €7,265
- Gross operating margin +€48,886
up €48,886 (+232.7%), from €21,010 to €69,896
- Taxes +€10,436
up €10,436 (+147.2%), from €7,088 to €17,524
- Financial charges -€1,662
down €1,662 (-52.0%), from €3,196 to €1,534
- Other operating charges +€1,530
up €1,530 (+166.5%), from €918 to €2,448
- Depreciation +€844
up €844 (+11.1%), from €7,608 to €8,452
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 | €210,601 | €247,940 | +€37,339 | +17.7% |
| Fixed assets | 21/28 | €12,718 | €10,165 | -€2,553 | -20.1% |
| Tangible fixed assets | 22/27 | €12,718 | €10,165 | -€2,553 | -20.1% |
| Plant, machinery and equipment | 23 | €2,107 | €1,015 | -€1,092 | -51.8% |
| Furniture and vehicles | 24 | €10,611 | €9,150 | -€1,461 | -13.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €197,883 | €237,775 | +€39,892 | +20.2% |
| Amounts receivable within one year | 40/41 | €185,662 | €230,786 | +€45,124 | +24.3% |
| Trade receivables | 40 | €12,240 | €9,990 | -€2,250 | -18.4% |
| Other amounts receivable | 41 | €173,422 | €220,796 | +€47,374 | +27.3% |
| Cash at bank and in hand | 54/58 | €12,221 | €6,789 | -€5,432 | -44.4% |
| Deferred charges and accrued income | 490/1 | €0 | €200 | +€200 | |
| Total equity and liabilities | 10/49 | €210,601 | €247,940 | +€37,339 | +17.7% |
| Equity | 10/15 | €156,956 | €203,420 | +€46,465 | +29.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,846 | €184,820 | +€144,974 | +363.8% |
| Distributable reserves | 133 | €39,846 | €184,820 | +€144,974 | +363.8% |
| Profit (loss) carried forward | 14 | €98,510 | €0 | -€98,510 | -100.0% |
| Amounts payable | 17/49 | €53,646 | €44,520 | -€9,126 | -17.0% |
| Amounts payable within one year | 42/48 | €53,646 | €44,520 | -€9,126 | -17.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €10,451 | €7,265 | -€3,186 | -30.5% |
| Suppliers | 440/4 | €10,451 | €7,265 | -€3,186 | -30.5% |
| Taxes, remuneration and social security | 45 | €43,195 | €33,255 | -€9,940 | -23.0% |
| Taxes | 450/3 | €43,195 | €33,255 | -€9,940 | -23.0% |
| Other amounts payable | 47/48 | - | €4,000 | +€4,000 | |
| Non-recurring operating income | 76A | - | €3,952 | +€3,952 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,608 | €8,452 | +€844 | +11.1% |
| Other operating charges | 640/8 | €918 | €2,448 | +€1,530 | +166.5% |
| Gross operating margin | 9900 | €21,010 | €69,896 | +€48,886 | +232.7% |
| Operating profit (loss) | 9901 | €12,483 | €58,995 | +€46,512 | +372.6% |
| Financial income | 75/76B | €10,263 | €10,527 | +€264 | +2.6% |
| Recurring financial income | 75 | €10,263 | €10,527 | +€264 | +2.6% |
| Financial charges | 65/66B | €3,196 | €1,534 | -€1,662 | -52.0% |
| Recurring financial charges | 65 | €3,196 | €1,534 | -€1,662 | -52.0% |
| Profit (loss) for the period before taxes | 9903 | €19,549 | €67,989 | +€48,439 | +247.8% |
| Income taxes | 67/77 | €7,088 | €17,524 | +€10,436 | +147.2% |
| Profit (loss) for the period | 9904 | €12,461 | €50,465 | +€38,003 | +305.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,461 | €50,465 | +€38,003 | +305.0% |
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 11 October 2026 via checked.be.