TOPICS: 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.
TOPICS
Largest movements
- Tangible fixed assets +€54,093
up €54,093 (+582.6%), from €9,284 to €63,377
of which Furniture and vehicles: +€56,717
- Receivables within one year -€7,918
down €7,918 (-67.5%), from €11,734 to €3,815
of which Other amounts receivable: -€10,524
- Cash -€2,033
down €2,033 (-13.2%), from €15,424 to €13,391
mainly Investment in fixed assets (net) (-€65,430) and Tax, wage and social debts (-€3,902)
- Debts after one year +€27,339
new in 2025: €27,339
- Other debts +€10,219
new in 2025: €10,219
- Current portion of long-term debt +€7,674
new in 2025: €7,674
- Tax, wage and social debts -€3,902
down €3,902 (-43.6%), from €8,959 to €5,057
- Trade debts +€3,430
up €3,430 (+451.5%), from €760 to €4,190
- Depreciation +€4,649
up €4,649 (+69.5%), from €6,688 to €11,337
- Other operating charges -€3,461
down €3,461 (-95.8%), from €3,611 to €150
- Taxes -€1,966
down €1,966 (-78.5%), from €2,505 to €540
- Gross operating margin +€1,266
up €1,266 (+11.1%), from €11,385 to €12,650
- Financial charges +€817
up €817 (+476.5%), from €171 to €988
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 | €36,442 | €80,847 | +€44,405 | +121.9% |
| Fixed assets | 21/28 | €9,284 | €63,377 | +€54,093 | +582.6% |
| Tangible fixed assets | 22/27 | €9,284 | €63,377 | +€54,093 | +582.6% |
| Plant, machinery and equipment | 23 | €9,284 | €6,660 | -€2,625 | -28.3% |
| Furniture and vehicles | 24 | - | €56,717 | +€56,717 | |
| Current assets | 29/58 | €27,158 | €17,470 | -€9,687 | -35.7% |
| Amounts receivable within one year | 40/41 | €11,734 | €3,815 | -€7,918 | -67.5% |
| Trade receivables | 40 | €1,210 | €3,815 | +€2,605 | +215.3% |
| Other amounts receivable | 41 | €10,524 | - | -€10,524 | |
| Cash at bank and in hand | 54/58 | €15,424 | €13,391 | -€2,033 | -13.2% |
| Deferred charges and accrued income | 490/1 | - | €264 | +€264 | |
| Total equity and liabilities | 10/49 | €36,442 | €80,847 | +€44,405 | +121.9% |
| Equity | 10/15 | €26,723 | €26,368 | -€354 | -1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,860 | €8,860 | = | 0.0% |
| Distributable reserves | 133 | €8,860 | €8,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€737 | -€1,092 | -€354 | -48.1% |
| Amounts payable | 17/49 | €9,719 | €54,479 | +€44,760 | +460.5% |
| Amounts payable after more than one year | 17 | - | €27,339 | +€27,339 | |
| Financial debts | 170/4 | - | €27,339 | +€27,339 | |
| Amounts payable within one year | 42/48 | €9,719 | €27,140 | +€17,421 | +179.2% |
| Current portion of amounts payable after more than one year | 42 | - | €7,674 | +€7,674 | |
| Trade debts | 44 | €760 | €4,190 | +€3,430 | +451.5% |
| Suppliers | 440/4 | €760 | €4,190 | +€3,430 | +451.5% |
| Taxes, remuneration and social security | 45 | €8,959 | €5,057 | -€3,902 | -43.6% |
| Taxes | 450/3 | €8,959 | €5,057 | -€3,902 | -43.6% |
| Other amounts payable | 47/48 | - | €10,219 | +€10,219 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,688 | €11,337 | +€4,649 | +69.5% |
| Other operating charges | 640/8 | €3,611 | €150 | -€3,461 | -95.8% |
| Gross operating margin | 9900 | €11,385 | €12,650 | +€1,266 | +11.1% |
| Operating profit (loss) | 9901 | €1,087 | €1,164 | +€77 | +7.1% |
| Financial income | 75/76B | €346 | €10 | -€336 | -97.1% |
| Recurring financial income | 75 | €346 | €10 | -€336 | -97.1% |
| Financial charges | 65/66B | €171 | €988 | +€817 | +476.5% |
| Recurring financial charges | 65 | €171 | €988 | +€817 | +476.5% |
| Profit (loss) for the period before taxes | 9903 | €1,261 | €185 | -€1,076 | -85.3% |
| Income taxes | 67/77 | €2,505 | €540 | -€1,966 | -78.5% |
| Profit (loss) for the period | 9904 | -€1,244 | -€354 | +€890 | +71.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,244 | -€354 | +€890 | +71.5% |
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 5 October 2026 via checked.be.