The Shift: what changed
Two fiscal 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 Shift
Largest movements
- Current investments +€50,676
up €50,676 (+36.7%), from €137,901 to €188,577
- Intangible fixed assets +€19,564
new in 2025: €19,564
- Receivables within one year +€16,911
up €16,911 (+5.2%), from €324,005 to €340,916
of which Trade receivables: +€179,338
- Accrued charges and deferred income +€66,988
up €66,988 (+32.0%), from €209,016 to €276,004
- Tax, wage and social debts +€46,488
up €46,488 (+60.9%), from €76,387 to €122,875
of which Taxes: +€27,845
- Trade debts -€23,439
down €23,439 (-70.0%), from €33,461 to €10,022
- Gross operating margin +€90,123
up €90,123 (+10.3%), from €876,212 to €966,334
- Staff costs +€64,034
up €64,034 (+7.1%), from €902,835 to €966,869
- Purchases and services -€48,084
down €48,084 (-12.7%), from €377,528 to €329,444
- Turnover +€21,038
up €21,038 (+1.7%), from €1.2m to €1.3m
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 | €1,049,301 | €1,132,975 | +€83,674 | +8.0% |
| Fixed assets | 21/28 | €15,175 | €34,027 | +€18,852 | +124.2% |
| Intangible fixed assets | 21 | - | €19,564 | +€19,564 | |
| Tangible fixed assets | 22/27 | €5,412 | €3,841 | -€1,571 | -29.0% |
| Furniture and vehicles | 24 | €5,412 | €3,841 | -€1,571 | -29.0% |
| Financial fixed assets | 28 | €9,763 | €10,621 | +€858 | +8.8% |
| Current assets | 29/58 | €1,034,126 | €1,098,948 | +€64,822 | +6.3% |
| Amounts receivable within one year | 40/41 | €324,005 | €340,916 | +€16,911 | +5.2% |
| Trade receivables | 40 | €95,180 | €274,518 | +€179,338 | +188.4% |
| Other amounts receivable | 41 | €228,825 | €66,398 | -€162,427 | -71.0% |
| Current investments | 50/53 | €137,901 | €188,577 | +€50,676 | +36.7% |
| Cash at bank and in hand | 54/58 | €556,753 | €559,535 | +€2,782 | +0.5% |
| Deferred charges and accrued income | 490/1 | €15,467 | €9,919 | -€5,548 | -35.9% |
| Total equity and liabilities | 10/49 | €1,049,301 | €1,132,975 | +€83,674 | +8.0% |
| Equity | 10/15 | €730,437 | €724,074 | -€6,363 | -0.9% |
| Contributions | 10/11 | €37,779 | €37,779 | = | 0.0% |
| Capital | 10 | €37,779 | €37,779 | = | 0.0% |
| Reserves | 13 | €385,907 | €385,907 | = | 0.0% |
| Profit (loss) carried forward | 14 | €306,751 | €300,388 | -€6,363 | -2.1% |
| Amounts payable | 17/49 | €318,864 | €408,901 | +€90,037 | +28.2% |
| Amounts payable within one year | 42/48 | €109,848 | €132,897 | +€23,049 | +21.0% |
| Trade debts | 44 | €33,461 | €10,022 | -€23,439 | -70.0% |
| Suppliers | 440/4 | €33,461 | €10,022 | -€23,439 | -70.0% |
| Taxes, remuneration and social security | 45 | €76,387 | €122,875 | +€46,488 | +60.9% |
| Taxes | 450/3 | €263 | €28,108 | +€27,845 | +10584.5% |
| Remuneration and social security | 454/9 | €76,124 | €94,767 | +€18,643 | +24.5% |
| Accrued charges and deferred income | 492/3 | €209,016 | €276,004 | +€66,988 | +32.0% |
| Turnover | 70 | €1,236,716 | €1,257,754 | +€21,038 | +1.7% |
| Non-recurring operating income | 76A | €17,024 | €38,025 | +€21,001 | +123.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €377,528 | €329,444 | -€48,084 | -12.7% |
| Remuneration, social security and pensions | 62 | €902,835 | €966,869 | +€64,034 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,921 | €7,673 | +€5,752 | +299.4% |
| Other operating charges | 640/8 | €484 | €362 | -€122 | -25.2% |
| Gross operating margin | 9900 | €876,212 | €966,334 | +€90,123 | +10.3% |
| Operating profit (loss) | 9901 | -€29,029 | -€8,570 | +€20,459 | +70.5% |
| Financial income | 75/76B | €1,072 | €2,410 | +€1,338 | +124.7% |
| Recurring financial income | 75 | €1,072 | €2,410 | +€1,338 | +124.7% |
| Financial charges | 65/66B | €290 | €203 | -€87 | -30.1% |
| Recurring financial charges | 65 | €290 | €203 | -€87 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | -€28,247 | -€6,363 | +€21,884 | +77.5% |
| Profit (loss) for the period | 9904 | -€28,247 | -€6,363 | +€21,884 | +77.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,247 | -€6,363 | +€21,884 | +77.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.