TWO FOR ONE: 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.
TWO FOR ONE
Largest movements
- Receivables within one year +€16,912
up €16,912 (+69.1%), from €24,488 to €41,401
of which Trade receivables: +€16,999
- Cash +€4,823
up €4,823 (+135%), from €3,562 to €8,385
mainly Advances received (+€24,172) and Tax, wage and social debts (+€7,818)
- Tangible fixed assets -€2,258
down €2,258 (-24.5%), from €9,234 to €6,976
of which Leasing and similar rights: -€2,011
- Receivables after one year -€1,200
down €1,200 (-16.7%), from €7,200 to €6,000
- Advances received +€24,172
up €24,172 (+290%), from €8,328 to €32,500
- Trade debts -€11,357
down €11,357 (-48.7%), from €23,334 to €11,977
- Tax, wage and social debts +€7,818
up €7,818 (+162%), from €4,817 to €12,635
of which Taxes: +€10,148
- Profit (loss) carried forward -€1,919
new in 2025: -€1,919
- Gross operating margin +€12,120
up €12,120, from -€5,154 to €6,966
- Taxes +€6,166
up €6,166 (+1,270%), from €485 to €6,652
- Depreciation +€781
up €781 (+52.9%), from €1,477 to €2,258
- Other operating charges -€321
down €321 (-74.1%), from €433 to €112
- Financial charges -€234
down €234 (-62.8%), from €372 to €138
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.
Derived cash bridge
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 | €46,726 | €65,896 | +€19,170 | +41.0% |
| Fixed assets | 21/28 | €9,794 | €8,186 | -€1,608 | -16.4% |
| Tangible fixed assets | 22/27 | €9,234 | €6,976 | -€2,258 | -24.5% |
| Furniture and vehicles | 24 | €247 | - | -€247 | |
| Leasing and similar rights | 25 | €8,987 | €6,976 | -€2,011 | -22.4% |
| Financial fixed assets | 28 | €560 | €1,210 | +€650 | +116% |
| Current assets | 29/58 | €36,932 | €57,711 | +€20,778 | +56.3% |
| Amounts receivable after more than one year | 29 | €7,200 | €6,000 | -€1,200 | -16.7% |
| Trade receivables | 290 | €7,200 | €6,000 | -€1,200 | -16.7% |
| Stocks and contracts in progress | 3 | €1,484 | €1,727 | +€243 | +16.4% |
| Stocks | 30/36 | €1,484 | €1,727 | +€243 | +16.4% |
| Amounts receivable within one year | 40/41 | €24,488 | €41,401 | +€16,912 | +69.1% |
| Trade receivables | 40 | €24,128 | €41,128 | +€16,999 | +70.5% |
| Other amounts receivable | 41 | €360 | €273 | -€87 | -24.2% |
| Cash at bank and in hand | 54/58 | €3,562 | €8,385 | +€4,823 | +135% |
| Deferred charges and accrued income | 490/1 | €198 | €198 | = | 0.0% |
| Total equity and liabilities | 10/49 | €46,726 | €65,896 | +€19,170 | +41.0% |
| Equity | 10/15 | €10,247 | €8,329 | -€1,919 | -18.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €5,247 | €5,247 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,247 | €5,247 | = | 0.0% |
| Other | 1319 | €5,247 | €5,247 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,919 | -€1,919 | |
| Amounts payable | 17/49 | €36,479 | €57,568 | +€21,089 | +57.8% |
| Amounts payable within one year | 42/48 | €36,479 | €57,568 | +€21,089 | +57.8% |
| Trade debts | 44 | €23,334 | €11,977 | -€11,357 | -48.7% |
| Suppliers | 440/4 | €23,334 | €11,977 | -€11,357 | -48.7% |
| Advances received on contracts in progress | 46 | €8,328 | €32,500 | +€24,172 | +290% |
| Taxes, remuneration and social security | 45 | €4,817 | €12,635 | +€7,818 | +162% |
| Taxes | 450/3 | €2,487 | €12,635 | +€10,148 | +408% |
| Remuneration and social security | 454/9 | €2,330 | - | -€2,330 | |
| Other amounts payable | 47/48 | - | €456 | +€456 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,477 | €2,258 | +€781 | +52.9% |
| Other operating charges | 640/8 | €433 | €112 | -€321 | -74.1% |
| Gross operating margin | 9900 | -€5,154 | €6,966 | +€12,120 | |
| Operating profit (loss) | 9901 | -€7,064 | €4,596 | +€11,660 | |
| Financial income | 75/76B | €357 | €275 | -€82 | -22.9% |
| Recurring financial income | 75 | €357 | €275 | -€82 | -22.9% |
| Financial charges | 65/66B | €372 | €138 | -€234 | -62.8% |
| Recurring financial charges | 65 | €372 | €138 | -€234 | -62.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,079 | €4,733 | +€11,812 | |
| Income taxes | 67/77 | €485 | €6,652 | +€6,166 | +1,270% |
| Profit (loss) for the period | 9904 | -€7,564 | -€1,919 | +€5,646 | +74.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,564 | -€1,919 | +€5,646 | +74.6% |
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 14 October 2026 via checked.be.