The Nines: 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 Nines
Largest movements
- Cash +€57,774
up €57,774 (+679%), from €8,511 to €66,285
mainly Net result for the year (+€79,243) and Tax, wage and social debts (+€23,154)
- Receivables within one year +€25,410
up €25,410 (+166%), from €15,337 to €40,747
of which Trade receivables: +€25,410
- Tangible fixed assets +€12,709
up €12,709 (+468%), from €2,713 to €15,423
of which Furniture and vehicles: +€13,355
- Stocks and contracts +€3,004
new in 2025: €3,004
- Reserves +€71,591
new in 2025: €71,591
- Tax, wage and social debts +€23,154
up €23,154 (+1,004%), from €2,306 to €25,460
- Profit (loss) carried forward +€7,652
no longer reported in 2025 (was -€7,652)
- Other debts -€6,113
down €6,113 (-29.2%), from €20,937 to €14,823
- Current portion of long-term debt +€3,375
new in 2025: €3,375
- Gross operating margin +€112,869
up €112,869, from -€4,982 to €107,887
- Taxes +€21,658
new in 2025: €21,658
- Depreciation +€4,076
up €4,076 (+303%), from €1,344 to €5,421
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 | €28,436 | €126,490 | +€98,054 | +345% |
| Fixed assets | 21/28 | €2,713 | €15,423 | +€12,709 | +468% |
| Tangible fixed assets | 22/27 | €2,713 | €15,423 | +€12,709 | +468% |
| Plant, machinery and equipment | 23 | €2,081 | €1,436 | -€645 | -31.0% |
| Furniture and vehicles | 24 | €632 | €13,987 | +€13,355 | +2,113% |
| Current assets | 29/58 | €25,723 | €111,068 | +€85,345 | +332% |
| Stocks and contracts in progress | 3 | - | €3,004 | +€3,004 | |
| Stocks | 30/36 | - | €3,004 | +€3,004 | |
| Amounts receivable within one year | 40/41 | €15,337 | €40,747 | +€25,410 | +166% |
| Trade receivables | 40 | €14,937 | €40,347 | +€25,410 | +170% |
| Other amounts receivable | 41 | €400 | €400 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,511 | €66,285 | +€57,774 | +679% |
| Deferred charges and accrued income | 490/1 | €1,874 | €1,032 | -€842 | -45.0% |
| Total equity and liabilities | 10/49 | €28,436 | €126,490 | +€98,054 | +345% |
| Equity | 10/15 | €2,348 | €81,591 | +€79,243 | +3,375% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €71,591 | +€71,591 | |
| Distributable reserves | 133 | - | €71,591 | +€71,591 | |
| Profit (loss) carried forward | 14 | -€7,652 | - | +€7,652 | |
| Amounts payable | 17/49 | €26,088 | €44,899 | +€18,811 | +72.1% |
| Amounts payable within one year | 42/48 | €26,061 | €44,735 | +€18,675 | +71.7% |
| Current portion of amounts payable after more than one year | 42 | - | €3,375 | +€3,375 | |
| Trade debts | 44 | €2,818 | €1,078 | -€1,741 | -61.8% |
| Suppliers | 440/4 | €2,818 | €1,078 | -€1,741 | -61.8% |
| Taxes, remuneration and social security | 45 | €2,306 | €25,460 | +€23,154 | +1,004% |
| Taxes | 450/3 | €2,306 | €25,460 | +€23,154 | +1,004% |
| Other amounts payable | 47/48 | €20,937 | €14,823 | -€6,113 | -29.2% |
| Accrued charges and deferred income | 492/3 | €27 | €163 | +€136 | +506% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,344 | €5,421 | +€4,076 | +303% |
| Other operating charges | 640/8 | €856 | €1,013 | +€157 | +18.3% |
| Gross operating margin | 9900 | -€4,982 | €107,887 | +€112,869 | |
| Operating profit (loss) | 9901 | -€7,182 | €101,453 | +€108,636 | |
| Financial income | 75/76B | €31 | €1 | -€30 | -97.7% |
| Recurring financial income | 75 | €31 | €1 | -€30 | -97.7% |
| Financial charges | 65/66B | €500 | €553 | +€53 | +10.6% |
| Recurring financial charges | 65 | €500 | €553 | +€53 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,652 | €100,901 | +€108,552 | |
| Income taxes | 67/77 | - | €21,658 | +€21,658 | |
| Profit (loss) for the period | 9904 | -€7,652 | €79,243 | +€86,895 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,652 | €79,243 | +€86,895 |
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 14 October 2026 via checked.be.