UNDO.REDO: 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.
UNDO.REDO
Largest movements
- Receivables within one year +€84,481
up €84,481 (+281%), from €30,083 to €114,564
- Tangible fixed assets +€77,286
up €77,286 (+92.8%), from €83,310 to €160,597
of which Furniture and vehicles: +€79,581
- Cash -€39,417
down €39,417 (-21.8%), from €181,084 to €141,667
mainly Investment in fixed assets (net) (-€88,859) and Receivables within one year (-€84,481)
- Reserves +€48,557
up €48,557 (+31.2%), from €155,689 to €204,246
- Accrued charges and deferred income +€29,039
up €29,039 (+369%), from €7,861 to €36,900
- Debts after one year +€26,734
up €26,734 (+34.8%), from €76,761 to €103,495
- Current portion of long-term debt +€11,078
up €11,078 (+240%), from €4,611 to €15,689
- Trade debts +€4,599
up €4,599 (+61.3%), from €7,508 to €12,107
- Gross operating margin +€23,241
up €23,241 (+25.2%), from €92,205 to €115,446
- Financial income +€15,869
up €15,869 (+8,172%), from €194 to €16,063
of which Non-recurring financial income: +€16,000
- Depreciation +€6,592
up €6,592 (+132%), from €4,980 to €11,572
- Taxes +€5,420
up €5,420 (+30.8%), from €17,583 to €23,003
- Staff costs -€2,818
down €2,818 (-8.7%), from €32,523 to €29,705
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 | €301,999 | €425,465 | +€123,466 | +40.9% |
| Fixed assets | 21/28 | €88,110 | €165,397 | +€77,286 | +87.7% |
| Tangible fixed assets | 22/27 | €83,310 | €160,597 | +€77,286 | +92.8% |
| Land and buildings | 22 | €75,273 | €73,225 | -€2,048 | -2.7% |
| Plant, machinery and equipment | 23 | €719 | €472 | -€247 | -34.3% |
| Furniture and vehicles | 24 | €7,318 | €86,900 | +€79,581 | +1,087% |
| Financial fixed assets | 28 | €4,800 | €4,800 | = | 0.0% |
| Current assets | 29/58 | €213,888 | €260,068 | +€46,179 | +21.6% |
| Amounts receivable within one year | 40/41 | €30,083 | €114,564 | +€84,481 | +281% |
| Trade receivables | 40 | €30,083 | €114,564 | +€84,481 | +281% |
| Cash at bank and in hand | 54/58 | €181,084 | €141,667 | -€39,417 | -21.8% |
| Deferred charges and accrued income | 490/1 | €2,721 | €3,837 | +€1,116 | +41.0% |
| Total equity and liabilities | 10/49 | €301,999 | €425,465 | +€123,466 | +40.9% |
| Equity | 10/15 | €156,889 | €205,446 | +€48,557 | +30.9% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Reserves | 13 | €155,689 | €204,246 | +€48,557 | +31.2% |
| Distributable reserves | 133 | €155,689 | €204,246 | +€48,557 | +31.2% |
| Amounts payable | 17/49 | €145,110 | €220,019 | +€74,909 | +51.6% |
| Amounts payable after more than one year | 17 | €76,761 | €103,495 | +€26,734 | +34.8% |
| Financial debts | 170/4 | €76,761 | €103,495 | +€26,734 | +34.8% |
| Amounts payable within one year | 42/48 | €60,488 | €79,623 | +€19,135 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €4,611 | €15,689 | +€11,078 | +240% |
| Trade debts | 44 | €7,508 | €12,107 | +€4,599 | +61.3% |
| Suppliers | 440/4 | €7,508 | €12,107 | +€4,599 | +61.3% |
| Taxes, remuneration and social security | 45 | €48,300 | €48,588 | +€288 | +0.6% |
| Taxes | 450/3 | €44,246 | €43,066 | -€1,180 | -2.7% |
| Remuneration and social security | 454/9 | €4,054 | €5,522 | +€1,468 | +36.2% |
| Other amounts payable | 47/48 | €70 | €3,239 | +€3,170 | +4,554% |
| Accrued charges and deferred income | 492/3 | €7,861 | €36,900 | +€29,039 | +369% |
| Remuneration, social security and pensions | 62 | €32,523 | €29,705 | -€2,818 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,980 | €11,572 | +€6,592 | +132% |
| Other operating charges | 640/8 | €922 | €538 | -€384 | -41.6% |
| Gross operating margin | 9900 | €92,205 | €115,446 | +€23,241 | +25.2% |
| Operating profit (loss) | 9901 | €53,780 | €73,630 | +€19,851 | +36.9% |
| Financial income | 75/76B | €194 | €16,063 | +€15,869 | +8,172% |
| Recurring financial income | 75 | €194 | €63 | -€131 | -67.6% |
| Non-recurring financial income | 76B | - | €16,000 | +€16,000 | |
| Financial charges | 65/66B | €1,607 | €3,134 | +€1,527 | +95.0% |
| Recurring financial charges | 65 | €1,607 | €3,134 | +€1,527 | +95.0% |
| Profit (loss) for the period before taxes | 9903 | €52,367 | €86,560 | +€34,193 | +65.3% |
| Income taxes | 67/77 | €17,583 | €23,003 | +€5,420 | +30.8% |
| Profit (loss) for the period | 9904 | €34,784 | €63,557 | +€28,773 | +82.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,784 | €63,557 | +€28,773 | +82.7% |
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 17 October 2026 via checked.be.