TREND FACTOR ONE: 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.
TREND FACTOR ONE
Largest movements
- Receivables within one year +€6,085
up €6,085 (+6.5%), from €93,552 to €99,637
of which Trade receivables: +€9,316
- Tangible fixed assets -€2,754
down €2,754 (-10.9%), from €25,335 to €22,580
of which Plant, machinery and equipment: -€2,884
- Debts after one year -€19,102
down €19,102 (-92.3%), from €20,705 to €1,603
of which Trade debts: -€15,942
- Accrued charges and deferred income +€18,392
new in 2025: €18,392
- Profit (loss) carried forward +€14,774
up €14,774 (+95.7%), from €15,445 to €30,219
- Trade debts -€10,047
no longer reported in 2025 (was €10,047)
- Tax, wage and social debts -€1,383
down €1,383 (-18.0%), from €7,683 to €6,300
- Gross operating margin +€10,246
up €10,246 (+56.9%), from €18,018 to €28,264
- Taxes +€4,014
new in 2025: €4,014
- Other operating charges -€419
down €419 (-49.4%), from €849 to €429
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 | €123,880 | €126,514 | +€2,634 | +2.1% |
| Fixed assets | 21/28 | €26,750 | €23,996 | -€2,754 | -10.3% |
| Tangible fixed assets | 22/27 | €25,335 | €22,580 | -€2,754 | -10.9% |
| Land and buildings | 22 | - | €1,932 | +€1,932 | |
| Plant, machinery and equipment | 23 | €18,134 | €15,250 | -€2,884 | -15.9% |
| Furniture and vehicles | 24 | €2,253 | €451 | -€1,802 | -80.0% |
| Other tangible fixed assets | 26 | €4,948 | €4,948 | = | 0.0% |
| Financial fixed assets | 28 | €1,416 | €1,416 | = | 0.0% |
| Current assets | 29/58 | €97,130 | €102,518 | +€5,388 | +5.5% |
| Amounts receivable within one year | 40/41 | €93,552 | €99,637 | +€6,085 | +6.5% |
| Trade receivables | 40 | €78,562 | €87,878 | +€9,316 | +11.9% |
| Other amounts receivable | 41 | €14,990 | €11,759 | -€3,230 | -21.6% |
| Cash at bank and in hand | 54/58 | €3,578 | €2,881 | -€697 | -19.5% |
| Total equity and liabilities | 10/49 | €123,880 | €126,514 | +€2,634 | +2.1% |
| Equity | 10/15 | €85,445 | €100,219 | +€14,774 | +17.3% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,445 | €30,219 | +€14,774 | +95.7% |
| Amounts payable | 17/49 | €38,436 | €26,295 | -€12,140 | -31.6% |
| Amounts payable after more than one year | 17 | €20,705 | €1,603 | -€19,102 | -92.3% |
| Trade debts | 175 | €17,545 | €1,603 | -€15,942 | -90.9% |
| Other amounts payable | 178/9 | €3,160 | - | -€3,160 | |
| Amounts payable within one year | 42/48 | €17,731 | €6,300 | -€11,431 | -64.5% |
| Trade debts | 44 | €10,047 | - | -€10,047 | |
| Suppliers | 440/4 | €10,047 | - | -€10,047 | |
| Taxes, remuneration and social security | 45 | €7,683 | €6,300 | -€1,383 | -18.0% |
| Taxes | 450/3 | €7,683 | €6,300 | -€1,383 | -18.0% |
| Accrued charges and deferred income | 492/3 | - | €18,392 | +€18,392 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,937 | €8,855 | -€82 | -0.9% |
| Other operating charges | 640/8 | €849 | €429 | -€419 | -49.4% |
| Gross operating margin | 9900 | €18,018 | €28,264 | +€10,246 | +56.9% |
| Operating profit (loss) | 9901 | €8,233 | €18,980 | +€10,747 | +130.5% |
| Financial charges | 65/66B | €180 | €192 | +€12 | +6.4% |
| Recurring financial charges | 65 | €180 | €192 | +€12 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €8,053 | €18,788 | +€10,735 | +133.3% |
| Income taxes | 67/77 | - | €4,014 | +€4,014 | |
| Profit (loss) for the period | 9904 | €8,053 | €14,774 | +€6,722 | +83.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,053 | €14,774 | +€6,722 | +83.5% |
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 8 October 2026 via checked.be.