THE INPUT: 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 INPUT
Largest movements
- Cash +€111,458
up €111,458 (+16.4%), from €680,983 to €792,441
mainly Other debts (+€218,441) and Net result for the year (+€191,414)
- Receivables within one year -€15,070
down €15,070 (-40.2%), from €37,517 to €22,447
of which Trade receivables: -€15,070
- Other debts +€218,441
up €218,441 (+349.2%), from €62,561 to €281,002
- Reserves -€97,780
down €97,780 (-16.8%), from €580,562 to €482,782
of which Distributable reserves: -€97,780
- Trade debts -€53,918
down €53,918 (-57.1%), from €94,379 to €40,462
- Tax, wage and social debts +€33,408
up €33,408 (+67.1%), from €49,763 to €83,171
of which Taxes: +€39,093
- Gross operating margin +€57,167
up €57,167 (+13.9%), from €410,399 to €467,566
- Taxes +€11,762
up €11,762 (+16.6%), from €70,819 to €82,582
- Staff costs +€9,582
up €9,582 (+5.2%), from €184,225 to €193,806
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 | €789,874 | €893,836 | +€103,963 | +13.2% |
| Fixed assets | 21/28 | €4,656 | €3,360 | -€1,296 | -27.8% |
| Tangible fixed assets | 22/27 | €4,016 | €2,721 | -€1,296 | -32.3% |
| Furniture and vehicles | 24 | €1,896 | €601 | -€1,296 | -68.3% |
| Other tangible fixed assets | 26 | €2,120 | €2,120 | = | 0.0% |
| Financial fixed assets | 28 | €640 | €640 | = | 0.0% |
| Current assets | 29/58 | €785,218 | €890,476 | +€105,259 | +13.4% |
| Stocks and contracts in progress | 3 | €65,501 | €74,402 | +€8,901 | +13.6% |
| Stocks | 30/36 | €65,501 | €74,402 | +€8,901 | +13.6% |
| Amounts receivable within one year | 40/41 | €37,517 | €22,447 | -€15,070 | -40.2% |
| Trade receivables | 40 | €37,428 | €22,358 | -€15,070 | -40.3% |
| Other amounts receivable | 41 | €89 | €89 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €680,983 | €792,441 | +€111,458 | +16.4% |
| Deferred charges and accrued income | 490/1 | €1,217 | €1,187 | -€31 | -2.5% |
| Total equity and liabilities | 10/49 | €789,874 | €893,836 | +€103,963 | +13.2% |
| Equity | 10/15 | €583,062 | €485,282 | -€97,780 | -16.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €580,562 | €482,782 | -€97,780 | -16.8% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €570,562 | €472,782 | -€97,780 | -17.1% |
| Amounts payable | 17/49 | €206,812 | €408,555 | +€201,743 | +97.5% |
| Amounts payable within one year | 42/48 | €206,704 | €408,555 | +€201,851 | +97.7% |
| Trade debts | 44 | €94,379 | €40,462 | -€53,918 | -57.1% |
| Suppliers | 440/4 | €94,379 | €40,462 | -€53,918 | -57.1% |
| Advances received on contracts in progress | 46 | - | €3,920 | +€3,920 | |
| Taxes, remuneration and social security | 45 | €49,763 | €83,171 | +€33,408 | +67.1% |
| Taxes | 450/3 | €16,559 | €55,652 | +€39,093 | +236.1% |
| Remuneration and social security | 454/9 | €33,204 | €27,519 | -€5,685 | -17.1% |
| Other amounts payable | 47/48 | €62,561 | €281,002 | +€218,441 | +349.2% |
| Accrued charges and deferred income | 492/3 | €108 | - | -€108 | |
| Remuneration, social security and pensions | 62 | €184,225 | €193,806 | +€9,582 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,512 | €1,296 | -€216 | -14.3% |
| Other operating charges | 640/8 | €2,388 | €645 | -€1,743 | -73.0% |
| Gross operating margin | 9900 | €410,399 | €467,566 | +€57,167 | +13.9% |
| Operating profit (loss) | 9901 | €222,274 | €271,819 | +€49,545 | +22.3% |
| Financial income | 75/76B | €7,450 | €4,484 | -€2,967 | -39.8% |
| Recurring financial income | 75 | €7,450 | €4,484 | -€2,967 | -39.8% |
| Financial charges | 65/66B | €1,602 | €2,306 | +€704 | +43.9% |
| Recurring financial charges | 65 | €1,602 | €2,306 | +€704 | +43.9% |
| Profit (loss) for the period before taxes | 9903 | €228,122 | €273,996 | +€45,874 | +20.1% |
| Income taxes | 67/77 | €70,819 | €82,582 | +€11,762 | +16.6% |
| Profit (loss) for the period | 9904 | €157,302 | €191,414 | +€34,112 | +21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €157,302 | €191,414 | +€34,112 | +21.7% |
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 10 October 2026 via checked.be.