Together We Manage: 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.
Together We Manage
Largest movements
- Receivables within one year +€90,306
up €90,306 (+119%), from €75,863 to €166,169
of which Trade receivables: +€63,300
- Cash -€13,935
down €13,935 (-88.1%), from €15,809 to €1,874
mainly Receivables within one year (-€90,306) and Investment in fixed assets (net) (-€18,262)
- Tangible fixed assets +€6,183
up €6,183 (+7.4%), from €83,052 to €89,235
- Reserves +€67,010
up €67,010 (+47.0%), from €142,681 to €209,691
- Short-term financial debts +€14,696
new in 2025: €14,696
- Gross operating margin -€91,522
down €91,522 (-46.5%), from €196,781 to €105,259
- Taxes -€21,333
down €21,333 (-50.4%), from €42,364 to €21,031
- Depreciation +€6,077
up €6,077 (+101%), from €6,002 to €12,079
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 | €199,162 | €282,308 | +€83,146 | +41.7% |
| Fixed assets | 21/28 | €83,052 | €89,235 | +€6,183 | +7.4% |
| Tangible fixed assets | 22/27 | €83,052 | €89,235 | +€6,183 | +7.4% |
| Other tangible fixed assets | 26 | €83,052 | €89,235 | +€6,183 | +7.4% |
| Current assets | 29/58 | €116,110 | €193,073 | +€76,963 | +66.3% |
| Amounts receivable within one year | 40/41 | €75,863 | €166,169 | +€90,306 | +119% |
| Trade receivables | 40 | €55,433 | €118,733 | +€63,300 | +114% |
| Other amounts receivable | 41 | €20,430 | €47,435 | +€27,006 | +132% |
| Current investments | 50/53 | €19,500 | €19,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,809 | €1,874 | -€13,935 | -88.1% |
| Deferred charges and accrued income | 490/1 | €4,938 | €5,531 | +€593 | +12.0% |
| Total equity and liabilities | 10/49 | €199,162 | €282,308 | +€83,146 | +41.7% |
| Equity | 10/15 | €142,681 | €209,691 | +€67,010 | +47.0% |
| Reserves | 13 | €142,681 | €209,691 | +€67,010 | +47.0% |
| Distributable reserves | 133 | €142,681 | €209,691 | +€67,010 | +47.0% |
| Amounts payable | 17/49 | €56,481 | €72,617 | +€16,136 | +28.6% |
| Amounts payable within one year | 42/48 | €56,481 | €72,617 | +€16,136 | +28.6% |
| Financial debts | 43 | - | €14,696 | +€14,696 | |
| Credit institutions | 430/8 | - | €14,696 | +€14,696 | |
| Trade debts | 44 | €1,049 | €812 | -€237 | -22.6% |
| Suppliers | 440/4 | €1,049 | €812 | -€237 | -22.6% |
| Taxes, remuneration and social security | 45 | €55,432 | €57,109 | +€1,677 | +3.0% |
| Taxes | 450/3 | €55,432 | €57,109 | +€1,677 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,002 | €12,079 | +€6,077 | +101% |
| Other operating charges | 640/8 | €1,096 | €1,067 | -€29 | -2.7% |
| Gross operating margin | 9900 | €196,781 | €105,259 | -€91,522 | -46.5% |
| Operating profit (loss) | 9901 | €189,683 | €92,113 | -€97,570 | -51.4% |
| Financial income | 75/76B | €943 | €1,424 | +€481 | +51.0% |
| Recurring financial income | 75 | €943 | €1,424 | +€481 | +51.0% |
| Financial charges | 65/66B | €5,581 | €5,496 | -€85 | -1.5% |
| Recurring financial charges | 65 | €5,581 | €5,496 | -€85 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €185,045 | €88,041 | -€97,004 | -52.4% |
| Income taxes | 67/77 | €42,364 | €21,031 | -€21,333 | -50.4% |
| Profit (loss) for the period | 9904 | €142,681 | €67,010 | -€75,671 | -53.0% |
| Profit (loss) for the period to be appropriated | 9905 | €142,681 | €67,010 | -€75,671 | -53.0% |
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 27 October 2026 via checked.be.