THINK +: 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.
THINK +
Largest movements
- Receivables after one year +€175,000
new in 2025: €175,000
- Cash -€88,036
down €88,036 (-35.8%), from €245,702 to €157,665
mainly Receivables after one year (-€175,000) and Other debts (-€26,493)
- Receivables within one year -€9,487
down €9,487 (-14.9%), from €63,630 to €54,143
of which Trade receivables: -€5,644
- Profit (loss) carried forward +€93,451
up €93,451 (+30.1%), from €310,440 to €403,891
- Other debts -€26,493
down €26,493 (-87.7%), from €30,200 to €3,707
- Gross operating margin -€34,933
down €34,933 (-21.4%), from €163,341 to €128,408
- Financial income +€5,117
up €5,117 (+2,289%), from €224 to €5,341
- Taxes +€4,700
up €4,700 (+15.9%), from €29,488 to €34,189
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 | €352,906 | €424,523 | +€71,617 | +20.3% |
| Fixed assets | 21/28 | €32,701 | €30,354 | -€2,347 | -7.2% |
| Tangible fixed assets | 22/27 | €32,701 | €30,354 | -€2,347 | -7.2% |
| Plant, machinery and equipment | 23 | €3,265 | €2,597 | -€668 | -20.5% |
| Furniture and vehicles | 24 | €5,320 | €3,490 | -€1,830 | -34.4% |
| Other tangible fixed assets | 26 | €24,116 | €24,268 | +€151 | +0.6% |
| Current assets | 29/58 | €320,205 | €394,168 | +€73,964 | +23.1% |
| Amounts receivable after more than one year | 29 | - | €175,000 | +€175,000 | |
| Other amounts receivable | 291 | - | €175,000 | +€175,000 | |
| Amounts receivable within one year | 40/41 | €63,630 | €54,143 | -€9,487 | -14.9% |
| Trade receivables | 40 | €56,464 | €50,820 | -€5,644 | -10.0% |
| Other amounts receivable | 41 | €7,166 | €3,323 | -€3,843 | -53.6% |
| Cash at bank and in hand | 54/58 | €245,702 | €157,665 | -€88,036 | -35.8% |
| Deferred charges and accrued income | 490/1 | €10,873 | €7,360 | -€3,513 | -32.3% |
| Total equity and liabilities | 10/49 | €352,906 | €424,523 | +€71,617 | +20.3% |
| Equity | 10/15 | €318,500 | €411,951 | +€93,451 | +29.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €310,440 | €403,891 | +€93,451 | +30.1% |
| Amounts payable | 17/49 | €34,406 | €12,572 | -€21,834 | -63.5% |
| Amounts payable within one year | 42/48 | €34,406 | €11,088 | -€23,318 | -67.8% |
| Trade debts | 44 | €312 | €1,432 | +€1,120 | +359% |
| Suppliers | 440/4 | €312 | €1,432 | +€1,120 | +359% |
| Taxes, remuneration and social security | 45 | €3,894 | €5,950 | +€2,055 | +52.8% |
| Taxes | 450/3 | €3,894 | €5,950 | +€2,055 | +52.8% |
| Other amounts payable | 47/48 | €30,200 | €3,707 | -€26,493 | -87.7% |
| Accrued charges and deferred income | 492/3 | - | €1,484 | +€1,484 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,776 | €5,411 | -€365 | -6.3% |
| Other operating charges | 640/8 | €366 | €380 | +€14 | +3.8% |
| Gross operating margin | 9900 | €163,341 | €128,408 | -€34,933 | -21.4% |
| Operating profit (loss) | 9901 | €157,199 | €122,617 | -€34,581 | -22.0% |
| Financial income | 75/76B | €224 | €5,341 | +€5,117 | +2,289% |
| Recurring financial income | 75 | €224 | €5,341 | +€5,117 | +2,289% |
| Financial charges | 65/66B | €331 | €319 | -€13 | -3.8% |
| Recurring financial charges | 65 | €331 | €319 | -€13 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €157,091 | €127,640 | -€29,451 | -18.7% |
| Income taxes | 67/77 | €29,488 | €34,189 | +€4,700 | +15.9% |
| Profit (loss) for the period | 9904 | €127,602 | €93,451 | -€34,151 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €127,602 | €93,451 | -€34,151 | -26.8% |
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 14 October 2026 via checked.be.