TO THE MAX: 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.
TO THE MAX
Largest movements
- Tangible fixed assets +€61,720
new in 2025: €61,720
of which Leasing and similar rights: +€54,053
- Cash +€55,238
up €55,238 (+398.7%), from €13,856 to €69,094
mainly Net result for the year (+€50,791) and Debts after one year (+€31,447)
- Reserves +€50,791
up €50,791 (+368.8%), from €13,771 to €64,562
- Debts after one year +€31,447
new in 2025: €31,447
- Tax, wage and social debts +€16,895
up €16,895 (+188.3%), from €8,973 to €25,867
- Current portion of long-term debt +€15,191
new in 2025: €15,191
- Gross operating margin +€62,795
up €62,795 (+351.0%), from €17,890 to €80,685
- Depreciation +€10,849
up €10,849 (+4258.4%), from €255 to €11,104
- Taxes +€10,774
up €10,774 (+282.8%), from €3,810 to €14,584
- Financial charges +€3,152
up €3,152 (+63034.6%), from €5 to €3,157
- Other operating charges +€999
up €999 (+1997.8%), from €50 to €1,049
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 | €27,855 | €143,109 | +€115,253 | +413.8% |
| Formation expenses | 20 | €714 | €0 | -€714 | -100.0% |
| Fixed assets | 21/28 | €1,000 | €61,720 | +€60,720 | +6072.0% |
| Tangible fixed assets | 22/27 | - | €61,720 | +€61,720 | |
| Leasing and similar rights | 25 | - | €54,053 | +€54,053 | |
| Other tangible fixed assets | 26 | - | €7,667 | +€7,667 | |
| Financial fixed assets | 28 | €1,000 | €0 | -€1,000 | -100.0% |
| Current assets | 29/58 | €26,142 | €81,389 | +€55,248 | +211.3% |
| Amounts receivable within one year | 40/41 | €12,285 | €11,979 | -€306 | -2.5% |
| Trade receivables | 40 | €12,285 | €11,979 | -€306 | -2.5% |
| Cash at bank and in hand | 54/58 | €13,856 | €69,094 | +€55,238 | +398.7% |
| Deferred charges and accrued income | 490/1 | - | €316 | +€316 | |
| Total equity and liabilities | 10/49 | €27,855 | €143,109 | +€115,253 | +413.8% |
| Equity | 10/15 | €16,771 | €67,562 | +€50,791 | +302.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €13,771 | €64,562 | +€50,791 | +368.8% |
| Distributable reserves | 133 | €13,771 | €64,562 | +€50,791 | +368.8% |
| Amounts payable | 17/49 | €11,085 | €75,547 | +€64,462 | +581.5% |
| Amounts payable after more than one year | 17 | - | €31,447 | +€31,447 | |
| Financial debts | 170/4 | - | €31,447 | +€31,447 | |
| Amounts payable within one year | 42/48 | €11,085 | €44,100 | +€33,015 | +297.8% |
| Current portion of amounts payable after more than one year | 42 | - | €15,191 | +€15,191 | |
| Trade debts | 44 | €2,109 | €2,431 | +€322 | +15.3% |
| Suppliers | 440/4 | €2,109 | €2,431 | +€322 | +15.3% |
| Taxes, remuneration and social security | 45 | €8,973 | €25,867 | +€16,895 | +188.3% |
| Taxes | 450/3 | €8,973 | €25,867 | +€16,895 | +188.3% |
| Other amounts payable | 47/48 | €3 | €611 | +€607 | +18352.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €255 | €11,104 | +€10,849 | +4258.4% |
| Other operating charges | 640/8 | €50 | €1,049 | +€999 | +1997.8% |
| Gross operating margin | 9900 | €17,890 | €80,685 | +€62,795 | +351.0% |
| Operating profit (loss) | 9901 | €17,586 | €68,532 | +€50,946 | +289.7% |
| Financial charges | 65/66B | €5 | €3,157 | +€3,152 | +63034.6% |
| Recurring financial charges | 65 | €5 | €3,157 | +€3,152 | +63034.6% |
| Profit (loss) for the period before taxes | 9903 | €17,581 | €65,375 | +€47,795 | +271.9% |
| Income taxes | 67/77 | €3,810 | €14,584 | +€10,774 | +282.8% |
| Profit (loss) for the period | 9904 | €13,771 | €50,791 | +€37,021 | +268.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,771 | €50,791 | +€37,021 | +268.8% |
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 10 October 2026 via checked.be.