Two Steps Ahead: 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 Steps Ahead
Largest movements
- Current investments +€1.5m
up €1.5m (+609.7%), from €250,000 to €1.8m
- Cash +€460,251
up €460,251 (+453.4%), from €101,505 to €561,755
mainly Net result for the year (+€1.7m) and Tax, wage and social debts (+€625,556)
- Receivables within one year +€364,980
up €364,980 (+127.5%), from €286,247 to €651,227
of which Other amounts receivable: +€197,107
- Reserves +€1.7m
up €1.7m (+432.1%), from €391,036 to €2.1m
- Tax, wage and social debts +€625,556
up €625,556 (+285.8%), from €218,866 to €844,422
of which Taxes: +€628,903
- Accrued charges and deferred income +€34,455
up €34,455 (+133.4%), from €25,834 to €60,289
- Gross operating margin +€1.9m
up €1.9m (+334.1%), from €567,751 to €2.5m
- Taxes +€613,137
up €613,137 (+347.3%), from €176,541 to €789,678
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 | €637,751 | €2,989,787 | +€2.4m | +368.8% |
| Fixed assets | 21/28 | - | €1,762 | +€1,762 | |
| Tangible fixed assets | 22/27 | - | €1,762 | +€1,762 | |
| Furniture and vehicles | 24 | - | €1,762 | +€1,762 | |
| Current assets | 29/58 | €637,751 | €2,988,025 | +€2.4m | +368.5% |
| Amounts receivable within one year | 40/41 | €286,247 | €651,227 | +€364,980 | +127.5% |
| Trade receivables | 40 | €286,247 | €454,120 | +€167,873 | +58.6% |
| Other amounts receivable | 41 | - | €197,107 | +€197,107 | |
| Current investments | 50/53 | €250,000 | €1,774,253 | +€1.5m | +609.7% |
| Cash at bank and in hand | 54/58 | €101,505 | €561,755 | +€460,251 | +453.4% |
| Deferred charges and accrued income | 490/1 | - | €790 | +€790 | |
| Total equity and liabilities | 10/49 | €637,751 | €2,989,787 | +€2.4m | +368.8% |
| Equity | 10/15 | €392,036 | €2,081,879 | +€1.7m | +431.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €391,036 | €2,080,879 | +€1.7m | +432.1% |
| Distributable reserves | 133 | €391,036 | €2,080,879 | +€1.7m | +432.1% |
| Amounts payable | 17/49 | €245,716 | €907,908 | +€662,193 | +269.5% |
| Amounts payable within one year | 42/48 | €219,882 | €847,619 | +€627,737 | +285.5% |
| Trade debts | 44 | €1,016 | €3,197 | +€2,181 | +214.6% |
| Suppliers | 440/4 | €1,016 | €3,197 | +€2,181 | +214.6% |
| Taxes, remuneration and social security | 45 | €218,866 | €844,422 | +€625,556 | +285.8% |
| Taxes | 450/3 | €215,499 | €844,402 | +€628,903 | +291.8% |
| Remuneration and social security | 454/9 | €3,367 | €20 | -€3,347 | -99.4% |
| Accrued charges and deferred income | 492/3 | €25,834 | €60,289 | +€34,455 | +133.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €178 | +€178 | |
| Other operating charges | 640/8 | - | €387 | +€387 | |
| Gross operating margin | 9900 | €567,751 | €2,464,743 | +€1.9m | +334.1% |
| Operating profit (loss) | 9901 | €567,751 | €2,464,177 | +€1.9m | +334.0% |
| Financial income | 75/76B | - | €15,622 | +€15,622 | |
| Recurring financial income | 75 | - | €15,622 | +€15,622 | |
| Financial charges | 65/66B | €174 | €278 | +€104 | +60.1% |
| Recurring financial charges | 65 | €174 | €278 | +€104 | +60.1% |
| Profit (loss) for the period before taxes | 9903 | €567,577 | €2,479,521 | +€1.9m | +336.9% |
| Income taxes | 67/77 | €176,541 | €789,678 | +€613,137 | +347.3% |
| Profit (loss) for the period | 9904 | €391,036 | €1,689,843 | +€1.3m | +332.1% |
| Profit (loss) for the period to be appropriated | 9905 | €391,036 | €1,689,843 | +€1.3m | +332.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.