UP UP: 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.
UP UP
Largest movements
- Cash +€165,396
up €165,396 (+95.0%), from €174,062 to €339,458
mainly Trade debts (+€194,468) and Net result for the year (+€124,593)
- Stocks and contracts +€95,561
new in 2025: €95,561
- Receivables within one year +€11,020
up €11,020 (+32.6%), from €33,766 to €44,786
of which Other amounts receivable: +€13,020
- Trade debts +€194,468
up €194,468 (+12435.5%), from €1,564 to €196,032
- Profit (loss) carried forward +€124,593
up €124,593 (+89.2%), from €139,726 to €264,319
- Other debts -€43,979
down €43,979 (-99.9%), from €44,031 to €53
- Gross operating margin +€139,573
up €139,573 (+204.5%), from €68,255 to €207,827
- Financial charges +€42,926
up €42,926 (+532.5%), from €8,061 to €50,987
- Taxes +€19,813
up €19,813 (+131.2%), from €15,107 to €34,920
- Financial income -€10,847
down €10,847 (-63.1%), from €17,179 to €6,332
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 | €223,290 | €498,324 | +€275,034 | +123.2% |
| Fixed assets | 21/28 | €9,344 | €12,380 | +€3,036 | +32.5% |
| Tangible fixed assets | 22/27 | €4,575 | €7,611 | +€3,036 | +66.4% |
| Furniture and vehicles | 24 | €4,575 | €7,611 | +€3,036 | +66.4% |
| Financial fixed assets | 28 | €4,769 | €4,769 | = | 0.0% |
| Current assets | 29/58 | €213,946 | €485,944 | +€271,999 | +127.1% |
| Stocks and contracts in progress | 3 | - | €95,561 | +€95,561 | |
| Contracts in progress | 37 | - | €95,561 | +€95,561 | |
| Amounts receivable within one year | 40/41 | €33,766 | €44,786 | +€11,020 | +32.6% |
| Trade receivables | 40 | €10,305 | €8,305 | -€2,000 | -19.4% |
| Other amounts receivable | 41 | €23,461 | €36,481 | +€13,020 | +55.5% |
| Cash at bank and in hand | 54/58 | €174,062 | €339,458 | +€165,396 | +95.0% |
| Deferred charges and accrued income | 490/1 | €6,117 | €6,140 | +€22 | +0.4% |
| Total equity and liabilities | 10/49 | €223,290 | €498,324 | +€275,034 | +123.2% |
| Equity | 10/15 | €142,726 | €267,319 | +€124,593 | +87.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €139,726 | €264,319 | +€124,593 | +89.2% |
| Amounts payable | 17/49 | €80,563 | €231,005 | +€150,442 | +186.7% |
| Amounts payable within one year | 42/48 | €80,563 | €231,005 | +€150,442 | +186.7% |
| Trade debts | 44 | €1,564 | €196,032 | +€194,468 | +12435.5% |
| Suppliers | 440/4 | €1,564 | €196,032 | +€194,468 | +12435.5% |
| Taxes, remuneration and social security | 45 | €34,968 | €34,920 | -€48 | -0.1% |
| Taxes | 450/3 | €34,968 | €34,920 | -€48 | -0.1% |
| Other amounts payable | 47/48 | €44,031 | €53 | -€43,979 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,833 | €3,660 | +€1,827 | +99.7% |
| Gross operating margin | 9900 | €68,255 | €207,827 | +€139,573 | +204.5% |
| Operating profit (loss) | 9901 | €66,422 | €204,168 | +€137,745 | +207.4% |
| Financial income | 75/76B | €17,179 | €6,332 | -€10,847 | -63.1% |
| Recurring financial income | 75 | €17,179 | €6,332 | -€10,847 | -63.1% |
| Financial charges | 65/66B | €8,061 | €50,987 | +€42,926 | +532.5% |
| Recurring financial charges | 65 | €8,061 | €50,987 | +€42,926 | +532.5% |
| Profit (loss) for the period before taxes | 9903 | €75,540 | €159,513 | +€83,973 | +111.2% |
| Income taxes | 67/77 | €15,107 | €34,920 | +€19,813 | +131.2% |
| Profit (loss) for the period | 9904 | €60,433 | €124,593 | +€64,160 | +106.2% |
| Profit (loss) for the period to be appropriated | 9905 | €60,433 | €124,593 | +€64,160 | +106.2% |
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.