THEOREME: 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.
THEOREME
Largest movements
- Receivables within one year +€31,263
up €31,263 (+67.2%), from €46,533 to €77,796
of which Trade receivables: +€37,075
- Tangible fixed assets -€6,891
down €6,891 (-47.0%), from €14,653 to €7,762
of which Furniture and vehicles: -€5,983
- Cash +€6,622
up €6,622 (+32.9%), from €20,146 to €26,768
mainly Net result for the year (+€40,463) and Depreciation (+€6,891)
- Deferred charges and accrued income +€1,283
up €1,283 (+60.0%), from €2,139 to €3,422
- Profit (loss) carried forward +€25,463
up €25,463, from -€22,714 to €2,750
- Reserves +€15,000
up €15,000 (+23.3%), from €64,422 to €79,422
of which Distributable reserves: +€15,000
- Trade debts -€5,707
down €5,707 (-76.1%), from €7,495 to €1,788
- Tax, wage and social debts -€2,000
down €2,000 (-100.0%), from €2,000 to €0
- Gross operating margin +€77,457
up €77,457, from -€26,888 to €50,570
- Depreciation +€2,195
up €2,195 (+46.8%), from €4,696 to €6,891
- Taxes +€1,916
up €1,916, from €0 to €1,916
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 | €83,719 | €115,995 | +€32,276 | +38.6% |
| Fixed assets | 21/28 | €14,901 | €8,010 | -€6,891 | -46.2% |
| Tangible fixed assets | 22/27 | €14,653 | €7,762 | -€6,891 | -47.0% |
| Plant, machinery and equipment | 23 | €2,573 | €1,666 | -€908 | -35.3% |
| Furniture and vehicles | 24 | €12,080 | €6,097 | -€5,983 | -49.5% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €68,818 | €107,985 | +€39,167 | +56.9% |
| Amounts receivable within one year | 40/41 | €46,533 | €77,796 | +€31,263 | +67.2% |
| Trade receivables | 40 | €38,185 | €75,260 | +€37,075 | +97.1% |
| Other amounts receivable | 41 | €8,348 | €2,535 | -€5,812 | -69.6% |
| Cash at bank and in hand | 54/58 | €20,146 | €26,768 | +€6,622 | +32.9% |
| Deferred charges and accrued income | 490/1 | €2,139 | €3,422 | +€1,283 | +60.0% |
| Total equity and liabilities | 10/49 | €83,719 | €115,995 | +€32,276 | +38.6% |
| Equity | 10/15 | €60,301 | €100,764 | +€40,463 | +67.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €64,422 | €79,422 | +€15,000 | +23.3% |
| Tax-exempt reserves | 132 | €4,422 | €4,422 | = | 0.0% |
| Distributable reserves | 133 | €60,000 | €75,000 | +€15,000 | +25.0% |
| Profit (loss) carried forward | 14 | -€22,714 | €2,750 | +€25,463 | |
| Amounts payable | 17/49 | €23,418 | €15,231 | -€8,187 | -35.0% |
| Amounts payable after more than one year | 17 | €8,000 | €8,000 | = | 0.0% |
| Financial debts | 170/4 | €8,000 | €8,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €15,418 | €7,231 | -€8,187 | -53.1% |
| Current portion of amounts payable after more than one year | 42 | €1,998 | €1,998 | = | 0.0% |
| Trade debts | 44 | €7,495 | €1,788 | -€5,707 | -76.1% |
| Suppliers | 440/4 | €7,495 | €1,788 | -€5,707 | -76.1% |
| Taxes, remuneration and social security | 45 | €2,000 | €0 | -€2,000 | -100.0% |
| Taxes | 450/3 | €2,000 | €0 | -€2,000 | -100.0% |
| Other amounts payable | 47/48 | €3,926 | €3,445 | -€481 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,696 | €6,891 | +€2,195 | +46.8% |
| Other operating charges | 640/8 | €1,304 | €927 | -€378 | -29.0% |
| Gross operating margin | 9900 | -€26,888 | €50,570 | +€77,457 | |
| Operating profit (loss) | 9901 | -€32,888 | €42,752 | +€75,640 | |
| Financial income | 75/76B | €19 | €87 | +€67 | +351.3% |
| Recurring financial income | 75 | €19 | €87 | +€67 | +351.3% |
| Financial charges | 65/66B | €347 | €459 | +€112 | +32.3% |
| Recurring financial charges | 65 | €347 | €459 | +€112 | +32.3% |
| Profit (loss) for the period before taxes | 9903 | -€33,216 | €42,380 | +€75,595 | |
| Income taxes | 67/77 | €0 | €1,916 | +€1,916 | |
| Profit (loss) for the period | 9904 | -€33,216 | €40,463 | +€73,679 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,216 | €40,463 | +€73,679 |
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 6 October 2026 via checked.be.