THINK IT: 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.
THINK IT
Largest movements
- Cash +€56,724
up €56,724 (+27.6%), from €205,685 to €262,409
mainly Net result for the year (+€91,811) and Receivables within one year (+€20,529)
- Deferred charges and accrued income +€20,729
up €20,729 (+1425.2%), from €1,455 to €22,184
- Receivables within one year -€20,529
down €20,529 (-52.6%), from €39,012 to €18,483
of which Trade receivables: -€20,513
- Reserves +€52,906
up €52,906 (+20.1%), from €262,890 to €315,796
- Debts after one year -€12,667
down €12,667 (-34.3%), from €36,944 to €24,277
- Tax, wage and social debts +€8,288
up €8,288 (+44.6%), from €18,598 to €26,886
- Trade debts +€4,988
up €4,988 (+845.4%), from €590 to €5,578
- Gross operating margin +€20,599
up €20,599 (+16.4%), from €125,528 to €146,127
- Taxes +€5,490
up €5,490 (+17.5%), from €31,394 to €36,884
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 | €400,934 | €455,988 | +€55,054 | +13.7% |
| Fixed assets | 21/28 | €154,782 | €152,912 | -€1,870 | -1.2% |
| Tangible fixed assets | 22/27 | €154,782 | €152,912 | -€1,870 | -1.2% |
| Land and buildings | 22 | €148,074 | €143,803 | -€4,271 | -2.9% |
| Plant, machinery and equipment | 23 | - | €2,092 | +€2,092 | |
| Furniture and vehicles | 24 | €4,274 | €5,487 | +€1,213 | +28.4% |
| Other tangible fixed assets | 26 | €2,434 | €1,530 | -€904 | -37.2% |
| Current assets | 29/58 | €246,151 | €303,076 | +€56,925 | +23.1% |
| Amounts receivable within one year | 40/41 | €39,012 | €18,483 | -€20,529 | -52.6% |
| Trade receivables | 40 | €38,996 | €18,483 | -€20,513 | -52.6% |
| Other amounts receivable | 41 | €16 | €0 | -€16 | -100.0% |
| Cash at bank and in hand | 54/58 | €205,685 | €262,409 | +€56,724 | +27.6% |
| Deferred charges and accrued income | 490/1 | €1,455 | €22,184 | +€20,729 | +1425.2% |
| Total equity and liabilities | 10/49 | €400,934 | €455,988 | +€55,054 | +13.7% |
| Equity | 10/15 | €275,290 | €328,196 | +€52,906 | +19.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €262,890 | €315,796 | +€52,906 | +20.1% |
| Distributable reserves | 133 | €262,890 | €315,796 | +€52,906 | +20.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €125,644 | €127,792 | +€2,148 | +1.7% |
| Amounts payable after more than one year | 17 | €36,944 | €24,277 | -€12,667 | -34.3% |
| Financial debts | 170/4 | €36,944 | €24,277 | -€12,667 | -34.3% |
| Amounts payable within one year | 42/48 | €86,421 | €101,883 | +€15,462 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €12,667 | €12,667 | = | 0.0% |
| Trade debts | 44 | €590 | €5,578 | +€4,988 | +845.4% |
| Suppliers | 440/4 | €590 | €5,578 | +€4,988 | +845.4% |
| Taxes, remuneration and social security | 45 | €18,598 | €26,886 | +€8,288 | +44.6% |
| Taxes | 450/3 | €18,598 | €26,886 | +€8,288 | +44.6% |
| Other amounts payable | 47/48 | €54,566 | €56,753 | +€2,187 | +4.0% |
| Accrued charges and deferred income | 492/3 | €2,279 | €1,632 | -€647 | -28.4% |
| Non-recurring operating income | 76A | - | €1,977 | +€1,977 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,548 | €8,551 | +€3 | 0.0% |
| Other operating charges | 640/8 | €2,193 | €1,843 | -€351 | -16.0% |
| Non-recurring operating charges | 66A | €199 | €634 | +€435 | +218.7% |
| Gross operating margin | 9900 | €125,528 | €146,127 | +€20,599 | +16.4% |
| Operating profit (loss) | 9901 | €114,588 | €135,100 | +€20,512 | +17.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €5,897 | €6,404 | +€507 | +8.6% |
| Recurring financial charges | 65 | €5,897 | €6,404 | +€507 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €108,691 | €128,695 | +€20,005 | +18.4% |
| Income taxes | 67/77 | €31,394 | €36,884 | +€5,490 | +17.5% |
| Profit (loss) for the period | 9904 | €77,296 | €91,811 | +€14,515 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €77,296 | €91,811 | +€14,515 | +18.8% |
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.