THE OTHER HALF: 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 OTHER HALF
Largest movements
- Cash +€73,552
up €73,552 (+185%), from €39,784 to €113,336
mainly Net result for the year (+€74,593) and Depreciation (+€5,954)
- Tangible fixed assets -€5,954
down €5,954 (-22.4%), from €26,628 to €20,673
- Reserves +€73,760
up €73,760 (+257%), from €28,694 to €102,455
- Debts after one year -€8,250
down €8,250 (-40.0%), from €20,625 to €12,375
- Tax, wage and social debts +€1,504
up €1,504 (+31.8%), from €4,724 to €6,227
of which Remuneration and social security: +€1,010
- Gross operating margin +€54,303
up €54,303 (+114%), from €47,569 to €101,872
- Taxes +€8,359
up €8,359 (+70.5%), from €11,851 to €20,210
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 | €67,229 | €134,682 | +€67,454 | +100% |
| Fixed assets | 21/28 | €26,628 | €20,673 | -€5,954 | -22.4% |
| Tangible fixed assets | 22/27 | €26,628 | €20,673 | -€5,954 | -22.4% |
| Furniture and vehicles | 24 | €26,628 | €20,673 | -€5,954 | -22.4% |
| Current assets | 29/58 | €40,601 | €114,009 | +€73,408 | +181% |
| Amounts receivable within one year | 40/41 | €149 | - | -€149 | |
| Other amounts receivable | 41 | €149 | - | -€149 | |
| Cash at bank and in hand | 54/58 | €39,784 | €113,336 | +€73,552 | +185% |
| Deferred charges and accrued income | 490/1 | €668 | €673 | +€5 | +0.7% |
| Total equity and liabilities | 10/49 | €67,229 | €134,682 | +€67,454 | +100% |
| Equity | 10/15 | €30,694 | €104,455 | +€73,760 | +240% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €28,694 | €102,455 | +€73,760 | +257% |
| Distributable reserves | 133 | €28,694 | €102,455 | +€73,760 | +257% |
| Amounts payable | 17/49 | €36,534 | €30,228 | -€6,306 | -17.3% |
| Amounts payable after more than one year | 17 | €20,625 | €12,375 | -€8,250 | -40.0% |
| Other amounts payable | 178/9 | €20,625 | €12,375 | -€8,250 | -40.0% |
| Amounts payable within one year | 42/48 | €15,909 | €17,853 | +€1,944 | +12.2% |
| Current portion of amounts payable after more than one year | 42 | €8,250 | €8,250 | = | 0.0% |
| Trade debts | 44 | €55 | €99 | +€45 | +81.9% |
| Suppliers | 440/4 | €55 | €99 | +€45 | +81.9% |
| Taxes, remuneration and social security | 45 | €4,724 | €6,227 | +€1,504 | +31.8% |
| Taxes | 450/3 | €4,599 | €5,092 | +€494 | +10.7% |
| Remuneration and social security | 454/9 | €125 | €1,135 | +€1,010 | +808% |
| Other amounts payable | 47/48 | €2,881 | €3,276 | +€395 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,544 | €5,954 | +€411 | +7.4% |
| Other operating charges | 640/8 | €562 | €631 | +€69 | +12.3% |
| Gross operating margin | 9900 | €47,569 | €101,872 | +€54,303 | +114% |
| Operating profit (loss) | 9901 | €41,464 | €95,287 | +€53,823 | +130% |
| Financial income | 75/76B | - | €27 | +€27 | |
| Recurring financial income | 75 | - | €27 | +€27 | |
| Financial charges | 65/66B | €59 | €511 | +€451 | +762% |
| Recurring financial charges | 65 | €59 | €511 | +€451 | +762% |
| Profit (loss) for the period before taxes | 9903 | €41,404 | €94,804 | +€53,399 | +129% |
| Income taxes | 67/77 | €11,851 | €20,210 | +€8,359 | +70.5% |
| Profit (loss) for the period | 9904 | €29,553 | €74,593 | +€45,040 | +152% |
| Profit (loss) for the period to be appropriated | 9905 | €29,553 | €74,593 | +€45,040 | +152% |
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 23 October 2026 via checked.be.