TRANSPARENT: 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.
TRANSPARENT
Largest movements
- Cash +€59,408
up €59,408 (+19.6%), from €302,641 to €362,049
mainly Net result for the year (+€45,938) and Other debts (+€41,606)
- Receivables within one year +€13,275
up €13,275 (+53.1%), from €24,980 to €38,255
of which Trade receivables: +€10,147
- Tangible fixed assets -€4,793
down €4,793 (-50.2%), from €9,553 to €4,760
of which Furniture and vehicles: -€3,882
- Other debts +€41,606
up €41,606 (+28.9%), from €144,125 to €185,731
- Reserves +€19,520
up €19,520 (+14.0%), from €139,375 to €158,895
- Tax, wage and social debts +€4,092
up €4,092 (+17.3%), from €23,702 to €27,793
- Gross operating margin +€10,559
up €10,559 (+15.7%), from €67,146 to €77,705
- Taxes +€3,313
up €3,313 (+22.8%), from €14,559 to €17,872
- Financial charges +€2,126
up €2,126 (+35.6%), from €5,973 to €8,100
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 | €338,012 | €405,852 | +€67,840 | +20.1% |
| Fixed assets | 21/28 | €9,553 | €4,760 | -€4,793 | -50.2% |
| Tangible fixed assets | 22/27 | €9,553 | €4,760 | -€4,793 | -50.2% |
| Plant, machinery and equipment | 23 | €1,703 | €792 | -€911 | -53.5% |
| Furniture and vehicles | 24 | €7,850 | €3,968 | -€3,882 | -49.5% |
| Current assets | 29/58 | €328,459 | €401,092 | +€72,633 | +22.1% |
| Amounts receivable within one year | 40/41 | €24,980 | €38,255 | +€13,275 | +53.1% |
| Trade receivables | 40 | €24,980 | €35,127 | +€10,147 | +40.6% |
| Other amounts receivable | 41 | €0 | €3,128 | +€3,128 | |
| Cash at bank and in hand | 54/58 | €302,641 | €362,049 | +€59,408 | +19.6% |
| Deferred charges and accrued income | 490/1 | €838 | €788 | -€50 | -5.9% |
| Total equity and liabilities | 10/49 | €338,012 | €405,852 | +€67,840 | +20.1% |
| Equity | 10/15 | €142,375 | €161,895 | +€19,520 | +13.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €139,375 | €158,895 | +€19,520 | +14.0% |
| Distributable reserves | 133 | €139,375 | €158,895 | +€19,520 | +14.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €195,638 | €243,957 | +€48,320 | +24.7% |
| Amounts payable after more than one year | 17 | €18,000 | €18,000 | = | 0.0% |
| Financial debts | 170/4 | €18,000 | €18,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €172,911 | €219,983 | +€47,072 | +27.2% |
| Trade debts | 44 | €5,085 | €6,458 | +€1,374 | +27.0% |
| Suppliers | 440/4 | €5,085 | €6,458 | +€1,374 | +27.0% |
| Taxes, remuneration and social security | 45 | €23,702 | €27,793 | +€4,092 | +17.3% |
| Taxes | 450/3 | €23,702 | €27,793 | +€4,092 | +17.3% |
| Other amounts payable | 47/48 | €144,125 | €185,731 | +€41,606 | +28.9% |
| Accrued charges and deferred income | 492/3 | €4,726 | €5,974 | +€1,248 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,244 | €4,793 | -€451 | -8.6% |
| Other operating charges | 640/8 | €1,415 | €1,426 | +€11 | +0.8% |
| Gross operating margin | 9900 | €67,146 | €77,705 | +€10,559 | +15.7% |
| Operating profit (loss) | 9901 | €60,487 | €71,487 | +€10,999 | +18.2% |
| Financial income | 75/76B | €74 | €422 | +€349 | +473.7% |
| Recurring financial income | 75 | €74 | €422 | +€349 | +473.7% |
| Financial charges | 65/66B | €5,973 | €8,100 | +€2,126 | +35.6% |
| Recurring financial charges | 65 | €5,973 | €8,100 | +€2,126 | +35.6% |
| Profit (loss) for the period before taxes | 9903 | €54,588 | €63,810 | +€9,222 | +16.9% |
| Income taxes | 67/77 | €14,559 | €17,872 | +€3,313 | +22.8% |
| Profit (loss) for the period | 9904 | €40,029 | €45,938 | +€5,909 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,029 | €45,938 | +€5,909 | +14.8% |
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 11 October 2026 via checked.be.