TP: 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.
TP
Largest movements
- Cash +€32,891
up €32,891 (+13.9%), from €237,066 to €269,957
mainly Other debts (+€94,316) and Net result for the year (+€76,182)
- Stocks and contracts +€13,878
up €13,878 (+455.8%), from €3,045 to €16,923
- Deferred charges and accrued income -€12,822
down €12,822 (-83.1%), from €15,438 to €2,616
- Receivables within one year +€11,517
up €11,517 (+49.4%), from €23,324 to €34,841
of which Trade receivables: +€11,596
- Other debts +€94,316
up €94,316 (+96.6%), from €97,684 to €192,000
- Reserves -€24,173
down €24,173 (-20.6%), from €117,473 to €93,300
of which Tax-exempt reserves: -€22,313
- Tax, wage and social debts -€20,348
down €20,348 (-54.5%), from €37,320 to €16,972
- Trade debts -€6,385
down €6,385 (-81.2%), from €7,868 to €1,482
- Gross operating margin +€8,002
up €8,002 (+7.5%), from €106,676 to €114,678
- Financial charges +€5,568
up €5,568 (+208.1%), from €2,675 to €8,243
- Taxes +€5,478
up €5,478 (+26.4%), from €20,717 to €26,195
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 | €284,210 | €329,582 | +€45,371 | +16.0% |
| Fixed assets | 21/28 | €5,337 | €5,245 | -€92 | -1.7% |
| Tangible fixed assets | 22/27 | €5,337 | €5,245 | -€92 | -1.7% |
| Plant, machinery and equipment | 23 | €1,546 | €1,810 | +€264 | +17.1% |
| Furniture and vehicles | 24 | €3,791 | €3,435 | -€356 | -9.4% |
| Current assets | 29/58 | €278,873 | €324,337 | +€45,464 | +16.3% |
| Stocks and contracts in progress | 3 | €3,045 | €16,923 | +€13,878 | +455.8% |
| Stocks | 30/36 | €3,045 | €16,923 | +€13,878 | +455.8% |
| Amounts receivable within one year | 40/41 | €23,324 | €34,841 | +€11,517 | +49.4% |
| Trade receivables | 40 | €23,034 | €34,630 | +€11,596 | +50.3% |
| Other amounts receivable | 41 | €291 | €211 | -€80 | -27.3% |
| Cash at bank and in hand | 54/58 | €237,066 | €269,957 | +€32,891 | +13.9% |
| Deferred charges and accrued income | 490/1 | €15,438 | €2,616 | -€12,822 | -83.1% |
| Total equity and liabilities | 10/49 | €284,210 | €329,582 | +€45,371 | +16.0% |
| Equity | 10/15 | €136,556 | €111,938 | -€24,618 | -18.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €117,473 | €93,300 | -€24,173 | -20.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €22,313 | €0 | -€22,313 | -100.0% |
| Distributable reserves | 133 | €95,160 | €93,300 | -€1,860 | -2.0% |
| Profit (loss) carried forward | 14 | €483 | €38 | -€445 | -92.1% |
| Amounts payable | 17/49 | €147,654 | €217,643 | +€69,990 | +47.4% |
| Amounts payable within one year | 42/48 | €144,816 | €214,688 | +€69,872 | +48.2% |
| Financial debts | 43 | €1,944 | €4,233 | +€2,289 | +117.7% |
| Credit institutions | 430/8 | €1,944 | €4,233 | +€2,289 | +117.7% |
| Trade debts | 44 | €7,868 | €1,482 | -€6,385 | -81.2% |
| Suppliers | 440/4 | €7,868 | €1,482 | -€6,385 | -81.2% |
| Taxes, remuneration and social security | 45 | €37,320 | €16,972 | -€20,348 | -54.5% |
| Taxes | 450/3 | €37,320 | €16,972 | -€20,348 | -54.5% |
| Other amounts payable | 47/48 | €97,684 | €192,000 | +€94,316 | +96.6% |
| Accrued charges and deferred income | 492/3 | €2,838 | €2,956 | +€118 | +4.2% |
| Non-recurring operating income | 76A | €6,198 | €0 | -€6,198 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,200 | €2,780 | -€420 | -13.1% |
| Other operating charges | 640/8 | €1,340 | €686 | -€655 | -48.8% |
| Non-recurring operating charges | 66A | €18,193 | €1,055 | -€17,138 | -94.2% |
| Gross operating margin | 9900 | €106,676 | €114,678 | +€8,002 | +7.5% |
| Operating profit (loss) | 9901 | €83,943 | €110,157 | +€26,215 | +31.2% |
| Financial income | 75/76B | €26 | €463 | +€437 | +1713.7% |
| Recurring financial income | 75 | €26 | €463 | +€437 | +1713.7% |
| Financial charges | 65/66B | €2,675 | €8,243 | +€5,568 | +208.1% |
| Recurring financial charges | 65 | €2,675 | €8,243 | +€5,568 | +208.1% |
| Profit (loss) for the period before taxes | 9903 | €81,293 | €102,377 | +€21,084 | +25.9% |
| Income taxes | 67/77 | €20,717 | €26,195 | +€5,478 | +26.4% |
| Profit (loss) for the period | 9904 | €60,576 | €76,182 | +€15,606 | +25.8% |
| Transfer from tax-exempt reserves | 789 | - | €22,313 | +€22,313 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €60,576 | €98,495 | +€37,919 | +62.6% |
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 12 October 2026 via checked.be.