The Product: 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 Product
Largest movements
- Cash +€31,889
up €31,889 (+513%), from €6,214 to €38,103
mainly Net result for the year (+€27,266) and Depreciation (+€21,818)
- Tangible fixed assets +€31,745
up €31,745 (+549%), from €5,784 to €37,529
of which Leasing and similar rights: +€26,870
- Receivables within one year +€7,721
up €7,721 (+28.7%), from €26,875 to €34,596
of which Trade receivables: +€6,721
- Intangible fixed assets -€6,300
down €6,300 (-12.6%), from €49,977 to €43,677
- Current investments +€2,971
new in 2025: €2,971
- Profit (loss) carried forward +€27,266
up €27,266 (+42.7%), from €63,865 to €91,131
- Debts after one year +€17,534
new in 2025: €17,534
- Current portion of long-term debt +€9,919
new in 2025: €9,919
- Contributions +€7,000
up €7,000 (+233%), from €3,000 to €10,000
- Tax, wage and social debts +€6,960
up €6,960 (+57.7%), from €12,068 to €19,028
of which Taxes: +€6,425
- Depreciation +€14,770
up €14,770 (+210%), from €7,048 to €21,818
- Gross operating margin +€8,165
up €8,165 (+16.2%), from €50,288 to €58,453
- Taxes -€1,740
down €1,740 (-17.9%), from €9,717 to €7,977
- Financial charges +€761
up €761 (+343%), from €222 to €983
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 | €88,850 | €156,876 | +€68,026 | +76.6% |
| Fixed assets | 21/28 | €55,761 | €81,206 | +€25,445 | +45.6% |
| Intangible fixed assets | 21 | €49,977 | €43,677 | -€6,300 | -12.6% |
| Tangible fixed assets | 22/27 | €5,784 | €37,529 | +€31,745 | +549% |
| Plant, machinery and equipment | 23 | €4,294 | €9,580 | +€5,286 | +123% |
| Furniture and vehicles | 24 | €1,490 | €1,079 | -€411 | -27.6% |
| Leasing and similar rights | 25 | - | €26,870 | +€26,870 | |
| Current assets | 29/58 | €33,089 | €75,670 | +€42,581 | +129% |
| Amounts receivable within one year | 40/41 | €26,875 | €34,596 | +€7,721 | +28.7% |
| Trade receivables | 40 | €16,875 | €23,596 | +€6,721 | +39.8% |
| Other amounts receivable | 41 | €10,000 | €11,000 | +€1,000 | +10.0% |
| Current investments | 50/53 | - | €2,971 | +€2,971 | |
| Cash at bank and in hand | 54/58 | €6,214 | €38,103 | +€31,889 | +513% |
| Total equity and liabilities | 10/49 | €88,850 | €156,876 | +€68,026 | +76.6% |
| Equity | 10/15 | €66,865 | €101,131 | +€34,266 | +51.2% |
| Contributions | 10/11 | €3,000 | €10,000 | +€7,000 | +233% |
| Profit (loss) carried forward | 14 | €63,865 | €91,131 | +€27,266 | +42.7% |
| Amounts payable | 17/49 | €21,985 | €55,745 | +€33,760 | +154% |
| Amounts payable after more than one year | 17 | - | €17,534 | +€17,534 | |
| Financial debts | 170/4 | - | €17,534 | +€17,534 | |
| Amounts payable within one year | 42/48 | €21,985 | €38,211 | +€16,226 | +73.8% |
| Current portion of amounts payable after more than one year | 42 | - | €9,919 | +€9,919 | |
| Trade debts | 44 | €976 | €431 | -€545 | -55.8% |
| Suppliers | 440/4 | €976 | €431 | -€545 | -55.8% |
| Taxes, remuneration and social security | 45 | €12,068 | €19,028 | +€6,960 | +57.7% |
| Taxes | 450/3 | €12,068 | €18,493 | +€6,425 | +53.2% |
| Remuneration and social security | 454/9 | - | €535 | +€535 | |
| Other amounts payable | 47/48 | €8,941 | €8,833 | -€108 | -1.2% |
| Non-recurring operating income | 76A | - | €3,298 | +€3,298 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,048 | €21,818 | +€14,770 | +210% |
| Other operating charges | 640/8 | €481 | €400 | -€81 | -16.8% |
| Non-recurring operating charges | 66A | - | €29 | +€29 | |
| Gross operating margin | 9900 | €50,288 | €58,453 | +€8,165 | +16.2% |
| Operating profit (loss) | 9901 | €42,759 | €36,206 | -€6,553 | -15.3% |
| Financial income | 75/76B | - | €20 | +€20 | |
| Recurring financial income | 75 | - | €20 | +€20 | |
| Financial charges | 65/66B | €222 | €983 | +€761 | +343% |
| Recurring financial charges | 65 | €222 | €983 | +€761 | +343% |
| Profit (loss) for the period before taxes | 9903 | €42,537 | €35,243 | -€7,294 | -17.1% |
| Income taxes | 67/77 | €9,717 | €7,977 | -€1,740 | -17.9% |
| Profit (loss) for the period | 9904 | €32,820 | €27,266 | -€5,554 | -16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,820 | €27,266 | -€5,554 | -16.9% |
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 17 October 2026 via checked.be.