THE SIDES: what changed
THE SIDES
Largest movements
- Cash +€86,057
up €86,057 (+97.3%), from €88,460 to €174,516
mainly Other debts (+€63,090) and Net result for the year (+€46,719)
- Receivables within one year -€9,526
down €9,526 (-76.6%), from €12,431 to €2,905
- Tangible fixed assets -€3,015
down €3,015 (-39.4%), from €7,655 to €4,640
- Other debts +€63,090
up €63,090 (+1,946%), from €3,243 to €66,333
- Reserves -€30,000
down €30,000 (-37.1%), from €80,860 to €50,860
of which Distributable reserves: -€30,000
- Profit (loss) carried forward +€16,719
up €16,719 (+506%), from €3,301 to €20,020
- Trade debts +€14,120
up €14,120 (+555%), from €2,542 to €16,662
- Advances received +€7,708
new in 2025: €7,708
- Gross operating margin +€88,889
up €88,889, from -€29,928 to €58,961
- Taxes +€8,047
new in 2025: €8,047
- Depreciation -€3,275
down €3,275 (-52.1%), from €6,290 to €3,015
- Financial charges +€936
up €936 (+326%), from €287 to €1,223
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €108,546 | €182,061 | +€73,516 | +67.7% |
| Fixed assets | 21/28 | €7,655 | €4,640 | -€3,015 | -39.4% |
| Tangible fixed assets | 22/27 | €7,655 | €4,640 | -€3,015 | -39.4% |
| Plant, machinery and equipment | 23 | €7,655 | €4,640 | -€3,015 | -39.4% |
| Current assets | 29/58 | €100,891 | €177,421 | +€76,531 | +75.9% |
| Amounts receivable within one year | 40/41 | €12,431 | €2,905 | -€9,526 | -76.6% |
| Other amounts receivable | 41 | €12,431 | €2,905 | -€9,526 | -76.6% |
| Cash at bank and in hand | 54/58 | €88,460 | €174,516 | +€86,057 | +97.3% |
| Total equity and liabilities | 10/49 | €108,546 | €182,061 | +€73,516 | +67.7% |
| Equity | 10/15 | €102,761 | €89,480 | -€13,281 | -12.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €80,860 | €50,860 | -€30,000 | -37.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €79,000 | €49,000 | -€30,000 | -38.0% |
| Profit (loss) carried forward | 14 | €3,301 | €20,020 | +€16,719 | +506% |
| Amounts payable | 17/49 | €5,785 | €92,581 | +€86,796 | +1,500% |
| Amounts payable within one year | 42/48 | €5,785 | €92,581 | +€86,796 | +1,500% |
| Trade debts | 44 | €2,542 | €16,662 | +€14,120 | +555% |
| Suppliers | 440/4 | €2,542 | €16,662 | +€14,120 | +555% |
| Advances received on contracts in progress | 46 | - | €7,708 | +€7,708 | |
| Taxes, remuneration and social security | 45 | - | €1,878 | +€1,878 | |
| Taxes | 450/3 | - | €1,878 | +€1,878 | |
| Other amounts payable | 47/48 | €3,243 | €66,333 | +€63,090 | +1,946% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,290 | €3,015 | -€3,275 | -52.1% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€29,928 | €58,961 | +€88,889 | |
| Operating profit (loss) | 9901 | -€36,723 | €55,427 | +€92,149 | |
| Financial income | 75/76B | €1,037 | €563 | -€474 | -45.7% |
| Recurring financial income | 75 | €1,037 | €563 | -€474 | -45.7% |
| Financial charges | 65/66B | €287 | €1,223 | +€936 | +326% |
| Recurring financial charges | 65 | €287 | €1,223 | +€936 | +326% |
| Profit (loss) for the period before taxes | 9903 | -€35,972 | €54,766 | +€90,739 | |
| Income taxes | 67/77 | - | €8,047 | +€8,047 | |
| Profit (loss) for the period | 9904 | -€35,972 | €46,719 | +€82,692 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,972 | €46,719 | +€82,692 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.