THE FUTURE IS BRIGHT: 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 IS BRIGHT
Largest movements
- Cash +€83,176
up €83,176 (+72.8%), from €114,257 to €197,433
mainly Net result for the year (+€54,176) and Receivables within one year (+€22,433)
- Receivables within one year -€22,433
down €22,433 (-59.6%), from €37,632 to €15,199
of which Trade receivables: -€23,266
- Profit (loss) carried forward +€54,176
up €54,176 (+44.0%), from €123,137 to €177,313
- Tax, wage and social debts +€6,943
up €6,943 (+120%), from €5,808 to €12,751
- Gross operating margin +€12,801
up €12,801 (+21.2%), from €60,338 to €73,139
- Taxes +€2,351
up €2,351 (+19.9%), from €11,823 to €14,174
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 | €154,183 | €214,686 | +€60,502 | +39.2% |
| Fixed assets | 21/28 | €1,360 | €812 | -€548 | -40.3% |
| Tangible fixed assets | 22/27 | €1,360 | €812 | -€548 | -40.3% |
| Plant, machinery and equipment | 23 | €1,360 | €812 | -€548 | -40.3% |
| Current assets | 29/58 | €152,823 | €213,874 | +€61,050 | +39.9% |
| Amounts receivable within one year | 40/41 | €37,632 | €15,199 | -€22,433 | -59.6% |
| Trade receivables | 40 | €36,455 | €13,189 | -€23,266 | -63.8% |
| Other amounts receivable | 41 | €1,177 | €2,010 | +€833 | +70.7% |
| Cash at bank and in hand | 54/58 | €114,257 | €197,433 | +€83,176 | +72.8% |
| Deferred charges and accrued income | 490/1 | €934 | €1,241 | +€307 | +32.9% |
| Total equity and liabilities | 10/49 | €154,183 | €214,686 | +€60,502 | +39.2% |
| Equity | 10/15 | €128,137 | €182,313 | +€54,176 | +42.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €123,137 | €177,313 | +€54,176 | +44.0% |
| Amounts payable | 17/49 | €26,046 | €32,373 | +€6,326 | +24.3% |
| Amounts payable after more than one year | 17 | €5,000 | €5,000 | = | 0.0% |
| Financial debts | 170/4 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €19,271 | €25,129 | +€5,858 | +30.4% |
| Trade debts | 44 | €1,881 | €1,399 | -€483 | -25.7% |
| Suppliers | 440/4 | €1,881 | €1,399 | -€483 | -25.7% |
| Taxes, remuneration and social security | 45 | €5,808 | €12,751 | +€6,943 | +120% |
| Taxes | 450/3 | €5,808 | €12,751 | +€6,943 | +120% |
| Other amounts payable | 47/48 | €11,581 | €10,979 | -€602 | -5.2% |
| Accrued charges and deferred income | 492/3 | €1,776 | €2,244 | +€468 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €285 | €548 | +€264 | +92.6% |
| Other operating charges | 640/8 | €252 | €463 | +€210 | +83.4% |
| Gross operating margin | 9900 | €60,338 | €73,139 | +€12,801 | +21.2% |
| Operating profit (loss) | 9901 | €59,801 | €72,128 | +€12,327 | +20.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,832 | €3,779 | -€53 | -1.4% |
| Recurring financial charges | 65 | €3,832 | €3,779 | -€53 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €55,969 | €68,349 | +€12,380 | +22.1% |
| Income taxes | 67/77 | €11,823 | €14,174 | +€2,351 | +19.9% |
| Profit (loss) for the period | 9904 | €44,147 | €54,176 | +€10,029 | +22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €44,147 | €54,176 | +€10,029 | +22.7% |
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.