THE FUTURE CODE: 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 FUTURE CODE
Largest movements
- Tangible fixed assets +€385,857
up €385,857 (+1,038%), from €37,160 to €423,017
of which Land and buildings: +€387,314
- Receivables within one year -€24,359
down €24,359 (-39.7%), from €61,331 to €36,972
of which Trade receivables: -€29,963
- Debts after one year +€337,322
up €337,322 (+1,503%), from €22,438 to €359,760
- Profit (loss) carried forward +€14,290
up €14,290 (+22.1%), from €64,642 to €78,932
- Current portion of long-term debt +€13,353
up €13,353 (+172%), from €7,751 to €21,103
- Tax, wage and social debts -€6,262
down €6,262 (-29.6%), from €21,129 to €14,867
of which Taxes: -€4,284
- Depreciation +€14,867
up €14,867 (+142%), from €10,437 to €25,305
- Financial charges +€11,754
up €11,754 (+623%), from €1,886 to €13,640
- Gross operating margin +€9,939
up €9,939 (+19.8%), from €50,276 to €60,215
- Taxes -€2,033
down €2,033 (-27.3%), from €7,439 to €5,406
- Other operating charges +€1,044
up €1,044 (+138%), from €757 to €1,801
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 | €118,368 | €478,695 | +€360,327 | +304% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €37,160 | €423,017 | +€385,857 | +1,038% |
| Tangible fixed assets | 22/27 | €37,160 | €423,017 | +€385,857 | +1,038% |
| Land and buildings | 22 | - | €387,314 | +€387,314 | |
| Plant, machinery and equipment | 23 | €346 | €9,179 | +€8,832 | +2,551% |
| Furniture and vehicles | 24 | €36,814 | €26,525 | -€10,289 | -27.9% |
| Current assets | 29/58 | €81,208 | €55,677 | -€25,531 | -31.4% |
| Amounts receivable within one year | 40/41 | €61,331 | €36,972 | -€24,359 | -39.7% |
| Trade receivables | 40 | €60,455 | €30,492 | -€29,963 | -49.6% |
| Other amounts receivable | 41 | €876 | €6,480 | +€5,604 | +639% |
| Cash at bank and in hand | 54/58 | €17,214 | €15,639 | -€1,574 | -9.1% |
| Deferred charges and accrued income | 490/1 | €2,663 | €3,066 | +€403 | +15.1% |
| Total equity and liabilities | 10/49 | €118,368 | €478,695 | +€360,327 | +304% |
| Equity | 10/15 | €66,642 | €80,932 | +€14,290 | +21.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,642 | €78,932 | +€14,290 | +22.1% |
| Amounts payable | 17/49 | €51,726 | €397,762 | +€346,036 | +669% |
| Amounts payable after more than one year | 17 | €22,438 | €359,760 | +€337,322 | +1,503% |
| Financial debts | 170/4 | €22,438 | €359,760 | +€337,322 | +1,503% |
| Amounts payable within one year | 42/48 | €29,288 | €36,715 | +€7,427 | +25.4% |
| Current portion of amounts payable after more than one year | 42 | €7,751 | €21,103 | +€13,353 | +172% |
| Trade debts | 44 | €333 | €745 | +€412 | +124% |
| Suppliers | 440/4 | €333 | €745 | +€412 | +124% |
| Taxes, remuneration and social security | 45 | €21,129 | €14,867 | -€6,262 | -29.6% |
| Taxes | 450/3 | €17,129 | €12,845 | -€4,284 | -25.0% |
| Remuneration and social security | 454/9 | €4,000 | €2,022 | -€1,978 | -49.5% |
| Other amounts payable | 47/48 | €76 | - | -€76 | |
| Accrued charges and deferred income | 492/3 | - | €1,287 | +€1,287 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,437 | €25,305 | +€14,867 | +142% |
| Other operating charges | 640/8 | €757 | €1,801 | +€1,044 | +138% |
| Gross operating margin | 9900 | €50,276 | €60,215 | +€9,939 | +19.8% |
| Operating profit (loss) | 9901 | €39,081 | €33,110 | -€5,972 | -15.3% |
| Financial income | 75/76B | - | €227 | +€227 | |
| Recurring financial income | 75 | - | €227 | +€227 | |
| Financial charges | 65/66B | €1,886 | €13,640 | +€11,754 | +623% |
| Recurring financial charges | 65 | €1,886 | €13,640 | +€11,754 | +623% |
| Profit (loss) for the period before taxes | 9903 | €37,195 | €19,696 | -€17,499 | -47.0% |
| Income taxes | 67/77 | €7,439 | €5,406 | -€2,033 | -27.3% |
| Profit (loss) for the period | 9904 | €29,756 | €14,290 | -€15,466 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,756 | €14,290 | -€15,466 | -52.0% |
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 13 October 2026 via checked.be.