Unfolding: 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.
Unfolding
Largest movements
- Cash +€15,717
up €15,717 (+32.3%), from €48,649 to €64,365
mainly Other debts (+€29,560) and Net result for the year (+€25,189)
- Tangible fixed assets +€15,295
up €15,295 (+99.9%), from €15,307 to €30,602
of which Other tangible fixed assets: +€13,122
- Receivables within one year +€4,793
up €4,793 (+501%), from €957 to €5,750
of which Trade receivables: +€3,495
- Other debts +€29,560
up €29,560 (+229%), from €12,913 to €42,474
- Tax, wage and social debts +€3,961
up €3,961 (+134%), from €2,955 to €6,916
- Accrued charges and deferred income +€2,600
up €2,600 (+173%), from €1,500 to €4,100
- Advances received -€1,072
down €1,072 (-74.8%), from €1,433 to €361
- Trade debts +€1,047
up €1,047 (+1,855%), from €56 to €1,103
- Gross operating margin +€41,374
up €41,374 (+751%), from €5,512 to €46,886
- Taxes +€8,781
up €8,781 (+964%), from €911 to €9,692
- Depreciation +€2,244
up €2,244 (+94.3%), from €2,379 to €4,623
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 | €66,355 | €102,451 | +€36,096 | +54.4% |
| Fixed assets | 21/28 | €15,307 | €30,752 | +€15,445 | +101% |
| Tangible fixed assets | 22/27 | €15,307 | €30,602 | +€15,295 | +99.9% |
| Land and buildings | 22 | €6,713 | €7,000 | +€287 | +4.3% |
| Plant, machinery and equipment | 23 | €2,537 | €3,123 | +€587 | +23.1% |
| Furniture and vehicles | 24 | €6,057 | €7,356 | +€1,299 | +21.4% |
| Other tangible fixed assets | 26 | - | €13,122 | +€13,122 | |
| Financial fixed assets | 28 | - | €150 | +€150 | |
| Current assets | 29/58 | €51,047 | €71,699 | +€20,652 | +40.5% |
| Amounts receivable within one year | 40/41 | €957 | €5,750 | +€4,793 | +501% |
| Trade receivables | 40 | €957 | €4,452 | +€3,495 | +365% |
| Other amounts receivable | 41 | - | €1,298 | +€1,298 | |
| Cash at bank and in hand | 54/58 | €48,649 | €64,365 | +€15,717 | +32.3% |
| Deferred charges and accrued income | 490/1 | €1,442 | €1,584 | +€142 | +9.9% |
| Total equity and liabilities | 10/49 | €66,355 | €102,451 | +€36,096 | +54.4% |
| Equity | 10/15 | €47,496 | €47,496 | = | 0.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €32,496 | €32,496 | = | 0.0% |
| Distributable reserves | 133 | €32,496 | €32,496 | = | 0.0% |
| Amounts payable | 17/49 | €18,858 | €54,955 | +€36,096 | +191% |
| Amounts payable within one year | 42/48 | €17,358 | €50,855 | +€33,496 | +193% |
| Trade debts | 44 | €56 | €1,103 | +€1,047 | +1,855% |
| Suppliers | 440/4 | €56 | €1,103 | +€1,047 | +1,855% |
| Advances received on contracts in progress | 46 | €1,433 | €361 | -€1,072 | -74.8% |
| Taxes, remuneration and social security | 45 | €2,955 | €6,916 | +€3,961 | +134% |
| Taxes | 450/3 | €2,955 | €6,916 | +€3,961 | +134% |
| Other amounts payable | 47/48 | €12,913 | €42,474 | +€29,560 | +229% |
| Accrued charges and deferred income | 492/3 | €1,500 | €4,100 | +€2,600 | +173% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,379 | €4,623 | +€2,244 | +94.3% |
| Other operating charges | 640/8 | €1,442 | €1,188 | -€254 | -17.6% |
| Non-recurring operating charges | 66A | - | €6,193 | +€6,193 | |
| Gross operating margin | 9900 | €5,512 | €46,886 | +€41,374 | +751% |
| Operating profit (loss) | 9901 | €1,691 | €34,882 | +€33,191 | +1,963% |
| Financial income | 75/76B | €0 | €57 | +€57 | +95,033% |
| Recurring financial income | 75 | €0 | €57 | +€57 | +95,033% |
| Financial charges | 65/66B | €255 | €59 | -€196 | -77.0% |
| Recurring financial charges | 65 | €255 | €59 | -€196 | -77.0% |
| Profit (loss) for the period before taxes | 9903 | €1,436 | €34,880 | +€33,445 | +2,329% |
| Income taxes | 67/77 | €911 | €9,692 | +€8,781 | +964% |
| Profit (loss) for the period | 9904 | €525 | €25,189 | +€24,664 | +4,700% |
| Profit (loss) for the period to be appropriated | 9905 | €525 | €25,189 | +€24,664 | +4,700% |
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 16 October 2026 via checked.be.