THINK PROCESS: 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 PROCESS
Largest movements
- Cash +€7,528
up €7,528 (+3.7%), from €202,591 to €210,119
mainly Net result for the year (+€46,582) and Tax, wage and social debts (+€3,262)
- Reserves +€46,582
up €46,582 (+33.8%), from €137,852 to €184,434
- Other debts -€31,921
down €31,921 (-96.7%), from €33,011 to €1,090
- Trade debts -€10,098
down €10,098 (-68.2%), from €14,804 to €4,705
- Tax, wage and social debts +€3,262
up €3,262 (+40.9%), from €7,978 to €11,241
- Gross operating margin +€7,076
up €7,076 (+11.7%), from €60,319 to €67,395
- Taxes +€2,058
up €2,058 (+12.5%), from €16,468 to €18,526
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 | €270,770 | €278,660 | +€7,890 | +2.9% |
| Fixed assets | 21/28 | €2,755 | €4,732 | +€1,977 | +71.8% |
| Tangible fixed assets | 22/27 | €2,755 | €4,732 | +€1,977 | +71.8% |
| Plant, machinery and equipment | 23 | €1,900 | €1,900 | = | 0.0% |
| Furniture and vehicles | 24 | €855 | €2,832 | +€1,977 | +231% |
| Current assets | 29/58 | €268,015 | €273,928 | +€5,913 | +2.2% |
| Amounts receivable within one year | 40/41 | €56,613 | €57,153 | +€540 | +1.0% |
| Trade receivables | 40 | €50,602 | €51,142 | +€540 | +1.1% |
| Other amounts receivable | 41 | €6,011 | €6,011 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €202,591 | €210,119 | +€7,528 | +3.7% |
| Deferred charges and accrued income | 490/1 | €8,811 | €6,656 | -€2,155 | -24.5% |
| Total equity and liabilities | 10/49 | €270,770 | €278,660 | +€7,890 | +2.9% |
| Equity | 10/15 | €212,214 | €258,796 | +€46,582 | +22.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €137,852 | €184,434 | +€46,582 | +33.8% |
| Distributable reserves | 133 | €137,852 | €184,434 | +€46,582 | +33.8% |
| Profit (loss) carried forward | 14 | €68,162 | €68,162 | = | 0.0% |
| Amounts payable | 17/49 | €58,557 | €19,864 | -€38,692 | -66.1% |
| Amounts payable within one year | 42/48 | €55,793 | €17,036 | -€38,757 | -69.5% |
| Trade debts | 44 | €14,804 | €4,705 | -€10,098 | -68.2% |
| Suppliers | 440/4 | €14,804 | €4,705 | -€10,098 | -68.2% |
| Taxes, remuneration and social security | 45 | €7,978 | €11,241 | +€3,262 | +40.9% |
| Taxes | 450/3 | €7,978 | €11,241 | +€3,262 | +40.9% |
| Other amounts payable | 47/48 | €33,011 | €1,090 | -€31,921 | -96.7% |
| Accrued charges and deferred income | 492/3 | €2,764 | €2,828 | +€64 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,063 | €1,145 | +€82 | +7.7% |
| Other operating charges | 640/8 | €908 | €1,009 | +€101 | +11.1% |
| Gross operating margin | 9900 | €60,319 | €67,395 | +€7,076 | +11.7% |
| Operating profit (loss) | 9901 | €58,348 | €65,241 | +€6,893 | +11.8% |
| Financial income | 75/76B | €1,587 | €1,754 | +€166 | +10.5% |
| Recurring financial income | 75 | €1,587 | €1,754 | +€166 | +10.5% |
| Financial charges | 65/66B | €2,093 | €1,886 | -€207 | -9.9% |
| Recurring financial charges | 65 | €2,093 | €1,886 | -€207 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €57,843 | €65,108 | +€7,266 | +12.6% |
| Income taxes | 67/77 | €16,468 | €18,526 | +€2,058 | +12.5% |
| Profit (loss) for the period | 9904 | €41,375 | €46,582 | +€5,208 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,375 | €46,582 | +€5,208 | +12.6% |
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 18 October 2026 via checked.be.