TOP COPY: what changed
Two fiscal 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.
TOP COPY
Largest movements
- Cash +€24,164
up €24,164 (+32.6%), from €74,172 to €98,336
mainly Other debts (+€49,369) and Net result for the year (+€35,959)
- Tangible fixed assets +€13,312
up €13,312 (+354.7%), from €3,754 to €17,066
- Receivables within one year -€11,126
down €11,126 (-20.7%), from €53,793 to €42,667
of which Trade receivables: -€7,719
- Financial fixed assets -€4,594
down €4,594 (-62.0%), from €7,404 to €2,810
- Deferred charges and accrued income +€3,008
up €3,008 (+25.1%), from €11,992 to €15,000
- Other debts +€49,369
up €49,369 (+7829.6%), from €631 to €50,000
- Reserves -€21,295
down €21,295 (-77.5%), from €27,495 to €6,200
of which Distributable reserves: -€21,295
- Tax, wage and social debts -€20,874
down €20,874 (-60.0%), from €34,783 to €13,909
of which Remuneration and social security: -€12,344
- Trade debts +€12,288
up €12,288 (+31.7%), from €38,767 to €51,055
- Profit (loss) carried forward +€7,254
new in 2025: €7,254
- Staff costs -€41,436
down €41,436 (-16.2%), from €255,414 to €213,978
- Gross operating margin +€19,566
up €19,566 (+7.8%), from €250,298 to €269,864
- Taxes +€4,744
up €4,744 (+3605.2%), from €132 to €4,876
- Financial charges +€4,156
up €4,156 (+440.3%), from €944 to €5,100
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 | €168,146 | €192,911 | +€24,765 | +14.7% |
| Fixed assets | 21/28 | €11,157 | €19,876 | +€8,719 | +78.1% |
| Tangible fixed assets | 22/27 | €3,754 | €17,066 | +€13,312 | +354.7% |
| Plant, machinery and equipment | 23 | €1,446 | €4,096 | +€2,650 | +183.2% |
| Furniture and vehicles | 24 | €2,307 | €8,570 | +€6,263 | +271.5% |
| Other tangible fixed assets | 26 | - | €4,400 | +€4,400 | |
| Financial fixed assets | 28 | €7,404 | €2,810 | -€4,594 | -62.0% |
| Current assets | 29/58 | €156,989 | €173,035 | +€16,046 | +10.2% |
| Stocks and contracts in progress | 3 | €17,032 | €17,032 | +€0 | 0.0% |
| Stocks | 30/36 | €17,032 | €17,032 | +€0 | 0.0% |
| Amounts receivable within one year | 40/41 | €53,793 | €42,667 | -€11,126 | -20.7% |
| Trade receivables | 40 | €35,492 | €27,773 | -€7,719 | -21.7% |
| Other amounts receivable | 41 | €18,300 | €14,894 | -€3,406 | -18.6% |
| Cash at bank and in hand | 54/58 | €74,172 | €98,336 | +€24,164 | +32.6% |
| Deferred charges and accrued income | 490/1 | €11,992 | €15,000 | +€3,008 | +25.1% |
| Total equity and liabilities | 10/49 | €168,146 | €192,911 | +€24,765 | +14.7% |
| Equity | 10/15 | €89,495 | €75,454 | -€14,041 | -15.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €27,495 | €6,200 | -€21,295 | -77.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €21,295 | - | -€21,295 | |
| Profit (loss) carried forward | 14 | - | €7,254 | +€7,254 | |
| Amounts payable | 17/49 | €78,651 | €117,457 | +€38,806 | +49.3% |
| Amounts payable within one year | 42/48 | €74,967 | €114,964 | +€39,997 | +53.4% |
| Current portion of amounts payable after more than one year | 42 | €787 | - | -€787 | |
| Trade debts | 44 | €38,767 | €51,055 | +€12,288 | +31.7% |
| Suppliers | 440/4 | €38,767 | €51,055 | +€12,288 | +31.7% |
| Taxes, remuneration and social security | 45 | €34,783 | €13,909 | -€20,874 | -60.0% |
| Taxes | 450/3 | €8,530 | - | -€8,530 | |
| Remuneration and social security | 454/9 | €26,253 | €13,909 | -€12,344 | -47.0% |
| Other amounts payable | 47/48 | €631 | €50,000 | +€49,369 | +7829.6% |
| Accrued charges and deferred income | 492/3 | €3,684 | €2,493 | -€1,191 | -32.3% |
| Non-recurring operating income | 76A | €7,200 | - | -€7,200 | |
| Remuneration, social security and pensions | 62 | €255,414 | €213,978 | -€41,436 | -16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,110 | €3,092 | -€2,018 | -39.5% |
| Other operating charges | 640/8 | €9,581 | €7,252 | -€2,329 | -24.3% |
| Non-recurring operating charges | 66A | €19,537 | - | -€19,537 | |
| Gross operating margin | 9900 | €250,298 | €269,864 | +€19,566 | +7.8% |
| Operating profit (loss) | 9901 | -€39,344 | €45,542 | +€84,886 | |
| Financial income | 75/76B | €624 | €393 | -€231 | -37.0% |
| Recurring financial income | 75 | €624 | €393 | -€231 | -37.0% |
| Financial charges | 65/66B | €944 | €5,100 | +€4,156 | +440.3% |
| Recurring financial charges | 65 | €944 | €5,100 | +€4,156 | +440.3% |
| Profit (loss) for the period before taxes | 9903 | -€39,664 | €40,835 | +€80,499 | |
| Income taxes | 67/77 | €132 | €4,876 | +€4,744 | +3605.2% |
| Profit (loss) for the period | 9904 | -€39,795 | €35,959 | +€75,754 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,795 | €35,959 | +€75,754 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.