TRUE FORM: 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.
TRUE FORM
Largest movements
- Tangible fixed assets +€9,099
up €9,099 (+38.5%), from €23,627 to €32,727
of which Other tangible fixed assets: +€8,867
- Cash -€7,738
down €7,738 (-8.1%), from €95,572 to €87,834
mainly Debts after one year (-€32,000) and Investment in fixed assets (net) (-€13,733)
- Receivables within one year +€5,469
up €5,469 (+84.1%), from €6,500 to €11,969
- Intangible fixed assets -€1,877
down €1,877 (-100.0%), from €1,877 to €0
- Debts after one year -€32,000
down €32,000 (-100.0%), from €32,000 to €0
- Reserves +€24,759
up €24,759 (+66.2%), from €37,423 to €62,183
- Other debts +€12,344
up €12,344 (+33.9%), from €36,416 to €48,760
- Depreciation -€9,488
down €9,488 (-59.3%), from €15,998 to €6,510
- Taxes +€6,303
up €6,303 (+76.2%), from €8,270 to €14,573
- Gross operating margin +€3,257
up €3,257 (+6.8%), from €48,020 to €51,277
- Financial charges -€760
down €760 (-19.3%), from €3,925 to €3,166
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 | €131,403 | €136,395 | +€4,992 | +3.8% |
| Fixed assets | 21/28 | €25,505 | €32,727 | +€7,222 | +28.3% |
| Intangible fixed assets | 21 | €1,877 | €0 | -€1,877 | -100.0% |
| Tangible fixed assets | 22/27 | €23,627 | €32,727 | +€9,099 | +38.5% |
| Plant, machinery and equipment | 23 | €1,561 | €1,204 | -€357 | -22.9% |
| Furniture and vehicles | 24 | €0 | €590 | +€590 | |
| Other tangible fixed assets | 26 | €22,067 | €30,934 | +€8,867 | +40.2% |
| Current assets | 29/58 | €105,898 | €103,668 | -€2,230 | -2.1% |
| Amounts receivable within one year | 40/41 | €6,500 | €11,969 | +€5,469 | +84.1% |
| Trade receivables | 40 | €6,500 | €11,969 | +€5,469 | +84.1% |
| Cash at bank and in hand | 54/58 | €95,572 | €87,834 | -€7,738 | -8.1% |
| Deferred charges and accrued income | 490/1 | €3,827 | €3,865 | +€39 | +1.0% |
| Total equity and liabilities | 10/49 | €131,403 | €136,395 | +€4,992 | +3.8% |
| Equity | 10/15 | €56,015 | €80,775 | +€24,759 | +44.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €37,423 | €62,183 | +€24,759 | +66.2% |
| Distributable reserves | 133 | €37,423 | €62,183 | +€24,759 | +66.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €75,387 | €55,620 | -€19,767 | -26.2% |
| Amounts payable after more than one year | 17 | €32,000 | €0 | -€32,000 | -100.0% |
| Other amounts payable | 178/9 | €32,000 | €0 | -€32,000 | -100.0% |
| Amounts payable within one year | 42/48 | €39,989 | €53,377 | +€13,388 | +33.5% |
| Financial debts | 43 | - | €39 | +€39 | |
| Credit institutions | 430/8 | - | €39 | +€39 | |
| Trade debts | 44 | €2 | €504 | +€502 | +25095.5% |
| Suppliers | 440/4 | €2 | €504 | +€502 | +25095.5% |
| Taxes, remuneration and social security | 45 | €3,570 | €4,073 | +€503 | +14.1% |
| Taxes | 450/3 | €3,570 | €4,073 | +€503 | +14.1% |
| Other amounts payable | 47/48 | €36,416 | €48,760 | +€12,344 | +33.9% |
| Accrued charges and deferred income | 492/3 | €3,399 | €2,243 | -€1,156 | -34.0% |
| Non-recurring operating income | 76A | €4,079 | €0 | -€4,079 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,998 | €6,510 | -€9,488 | -59.3% |
| Other operating charges | 640/8 | €509 | €603 | +€93 | +18.3% |
| Gross operating margin | 9900 | €48,020 | €51,277 | +€3,257 | +6.8% |
| Operating profit (loss) | 9901 | €31,513 | €44,164 | +€12,652 | +40.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,925 | €3,166 | -€760 | -19.3% |
| Recurring financial charges | 65 | €3,925 | €3,166 | -€760 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €27,587 | €40,998 | +€13,411 | +48.6% |
| Income taxes | 67/77 | €8,270 | €14,573 | +€6,303 | +76.2% |
| Profit (loss) for the period | 9904 | €19,317 | €26,425 | +€7,108 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €19,317 | €26,425 | +€7,108 | +36.8% |
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 10 October 2026 via checked.be.