ThinkForward: 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.
ThinkForward
Largest movements
- Cash +€39,826
up €39,826 (+63.6%), from €62,614 to €102,440
mainly Net result for the year (+€94,258) and Other debts (+€71,841)
- Receivables within one year +€8,906
up €8,906 (+45.8%), from €19,433 to €28,339
of which Trade receivables: +€8,906
- Other debts +€71,841
up €71,841 (+75.6%), from €95,011 to €166,852
- Debts after one year -€11,023
down €11,023 (-4.8%), from €228,168 to €217,146
of which Financial debts: -€13,723
- Tax, wage and social debts -€10,441
down €10,441 (-53.0%), from €19,704 to €9,263
- Depreciation -€63,385
down €63,385 (-87.1%), from €72,814 to €9,429
- Taxes +€15,552
up €15,552 (+93.6%), from €16,615 to €32,166
- Financial charges +€7,784
up €7,784 (+104.7%), from €7,434 to €15,219
- Financial income -€5,455
down €5,455 (-98.1%), from €5,560 to €105
- Gross operating margin -€4,223
down €4,223 (-2.7%), from €156,344 to €152,121
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 | €366,673 | €417,924 | +€51,251 | +14.0% |
| Fixed assets | 21/28 | €282,386 | €286,004 | +€3,618 | +1.3% |
| Tangible fixed assets | 22/27 | €280,136 | €283,754 | +€3,618 | +1.3% |
| Land and buildings | 22 | €276,940 | €270,976 | -€5,964 | -2.2% |
| Furniture and vehicles | 24 | €19 | €6,469 | +€6,450 | +33697.5% |
| Other tangible fixed assets | 26 | €3,177 | €6,309 | +€3,132 | +98.6% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €84,287 | €131,920 | +€47,633 | +56.5% |
| Amounts receivable within one year | 40/41 | €19,433 | €28,339 | +€8,906 | +45.8% |
| Trade receivables | 40 | €4,937 | €13,842 | +€8,906 | +180.4% |
| Other amounts receivable | 41 | €14,496 | €14,496 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €62,614 | €102,440 | +€39,826 | +63.6% |
| Deferred charges and accrued income | 490/1 | €2,241 | €1,142 | -€1,099 | -49.0% |
| Total equity and liabilities | 10/49 | €366,673 | €417,924 | +€51,251 | +14.0% |
| Equity | 10/15 | €3,060 | €2,318 | -€742 | -24.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,060 | €318 | -€742 | -70.0% |
| Amounts payable | 17/49 | €363,613 | €415,606 | +€51,993 | +14.3% |
| Amounts payable after more than one year | 17 | €228,168 | €217,146 | -€11,023 | -4.8% |
| Financial debts | 170/4 | €228,168 | €214,446 | -€13,723 | -6.0% |
| Other amounts payable | 178/9 | - | €2,700 | +€2,700 | |
| Amounts payable within one year | 42/48 | €132,534 | €191,491 | +€58,957 | +44.5% |
| Current portion of amounts payable after more than one year | 42 | €13,258 | €13,723 | +€464 | +3.5% |
| Trade debts | 44 | €4,560 | €1,654 | -€2,907 | -63.7% |
| Suppliers | 440/4 | €4,560 | €1,654 | -€2,907 | -63.7% |
| Taxes, remuneration and social security | 45 | €19,704 | €9,263 | -€10,441 | -53.0% |
| Taxes | 450/3 | €19,704 | €9,263 | -€10,441 | -53.0% |
| Other amounts payable | 47/48 | €95,011 | €166,852 | +€71,841 | +75.6% |
| Accrued charges and deferred income | 492/3 | €2,910 | €6,969 | +€4,059 | +139.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,814 | €9,429 | -€63,385 | -87.1% |
| Other operating charges | 640/8 | €796 | €1,154 | +€358 | +45.0% |
| Gross operating margin | 9900 | €156,344 | €152,121 | -€4,223 | -2.7% |
| Operating profit (loss) | 9901 | €82,734 | €141,538 | +€58,803 | +71.1% |
| Financial income | 75/76B | €5,560 | €105 | -€5,455 | -98.1% |
| Recurring financial income | 75 | €5,560 | €105 | -€5,455 | -98.1% |
| Financial charges | 65/66B | €7,434 | €15,219 | +€7,784 | +104.7% |
| Recurring financial charges | 65 | €7,434 | €15,219 | +€7,784 | +104.7% |
| Profit (loss) for the period before taxes | 9903 | €80,860 | €126,424 | +€45,564 | +56.3% |
| Income taxes | 67/77 | €16,615 | €32,166 | +€15,552 | +93.6% |
| Profit (loss) for the period | 9904 | €64,246 | €94,258 | +€30,012 | +46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €64,246 | €94,258 | +€30,012 | +46.7% |
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 11 October 2026 via checked.be.