Times X: 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.
Times X
Largest movements
- Cash +€43,761
up €43,761 (+78.6%), from €55,696 to €99,457
mainly Net result for the year (+€33,220) and Short-term financial debts (+€30,000)
- Stocks and contracts +€8,546
up €8,546 (+1,796%), from €476 to €9,021
- Receivables within one year +€2,842
up €2,842 (+24.3%), from €11,682 to €14,525
of which Trade receivables: +€2,430
- Short-term financial debts +€30,000
new in 2025: €30,000
- Other debts +€27,712
up €27,712, from €0 to €27,712
- Tax, wage and social debts -€2,733
down €2,733 (-15.7%), from €17,400 to €14,666
- Gross operating margin -€12,525
down €12,525 (-24.2%), from €51,792 to €39,267
- Taxes -€7,517
down €7,517 (-51.3%), from €14,666 to €7,149
- Financial income +€1,793
up €1,793 (+779,743%), from €0 to €1,794
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 | €68,289 | €123,268 | +€54,979 | +80.5% |
| Current assets | 29/58 | €68,289 | €123,268 | +€54,979 | +80.5% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €476 | €9,021 | +€8,546 | +1,796% |
| Stocks | 30/36 | €476 | €9,021 | +€8,546 | +1,796% |
| Amounts receivable within one year | 40/41 | €11,682 | €14,525 | +€2,842 | +24.3% |
| Trade receivables | 40 | €8,009 | €10,440 | +€2,430 | +30.3% |
| Other amounts receivable | 41 | €3,673 | €4,085 | +€412 | +11.2% |
| Cash at bank and in hand | 54/58 | €55,696 | €99,457 | +€43,761 | +78.6% |
| Deferred charges and accrued income | 490/1 | €435 | €265 | -€170 | -39.1% |
| Total equity and liabilities | 10/49 | €68,289 | €123,268 | +€54,979 | +80.5% |
| Equity | 10/15 | €50,890 | €50,890 | = | 0.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €50,790 | €50,790 | = | 0.0% |
| Distributable reserves | 133 | €50,790 | €50,790 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €17,400 | €72,378 | +€54,979 | +316% |
| Amounts payable within one year | 42/48 | €17,400 | €72,378 | +€54,979 | +316% |
| Financial debts | 43 | - | €30,000 | +€30,000 | |
| Credit institutions | 430/8 | - | €30,000 | +€30,000 | |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €17,400 | €14,666 | -€2,733 | -15.7% |
| Taxes | 450/3 | €17,400 | €14,666 | -€2,733 | -15.7% |
| Other amounts payable | 47/48 | €0 | €27,712 | +€27,712 | |
| Other operating charges | 640/8 | €554 | €381 | -€173 | -31.3% |
| Gross operating margin | 9900 | €51,792 | €39,267 | -€12,525 | -24.2% |
| Operating profit (loss) | 9901 | €51,238 | €38,886 | -€12,352 | -24.1% |
| Financial income | 75/76B | €0 | €1,794 | +€1,793 | +779,743% |
| Recurring financial income | 75 | €0 | €1,794 | +€1,793 | +779,743% |
| Financial charges | 65/66B | €75 | €311 | +€236 | +315% |
| Recurring financial charges | 65 | €75 | €311 | +€236 | +315% |
| Profit (loss) for the period before taxes | 9903 | €51,164 | €40,368 | -€10,795 | -21.1% |
| Income taxes | 67/77 | €14,666 | €7,149 | -€7,517 | -51.3% |
| Profit (loss) for the period | 9904 | €36,497 | €33,220 | -€3,278 | -9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,497 | €33,220 | -€3,278 | -9.0% |
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 22 October 2026 via checked.be.