UPPERCASE: 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.
UPPERCASE
Largest movements
- Cash +€32,559
up €32,559 (+19.5%), from €166,600 to €199,160
mainly Net result for the year (+€46,198) and Depreciation (+€2,464)
- Receivables within one year +€18,708
up €18,708 (+362%), from €5,173 to €23,881
of which Trade receivables: +€18,150
- Tangible fixed assets -€2,464
down €2,464 (-66.6%), from €3,702 to €1,238
- Profit (loss) carried forward +€46,198
up €46,198 (+97.9%), from -€47,187 to -€989
- Gross operating margin +€95,386
up €95,386, from -€43,736 to €51,649
- Depreciation -€2,434
down €2,434 (-49.7%), from €4,898 to €2,464
- Financial income -€695
down €695 (-44.5%), from €1,563 to €868
- Taxes +€657
up €657 (+91.5%), from €718 to €1,375
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 | €176,775 | €224,800 | +€48,025 | +27.2% |
| Fixed assets | 21/28 | €3,702 | €1,238 | -€2,464 | -66.6% |
| Tangible fixed assets | 22/27 | €3,702 | €1,238 | -€2,464 | -66.6% |
| Furniture and vehicles | 24 | €3,702 | €1,238 | -€2,464 | -66.6% |
| Current assets | 29/58 | €173,073 | €223,562 | +€50,489 | +29.2% |
| Amounts receivable within one year | 40/41 | €5,173 | €23,881 | +€18,708 | +362% |
| Trade receivables | 40 | €0 | €18,150 | +€18,150 | |
| Other amounts receivable | 41 | €5,173 | €5,731 | +€558 | +10.8% |
| Cash at bank and in hand | 54/58 | €166,600 | €199,160 | +€32,559 | +19.5% |
| Deferred charges and accrued income | 490/1 | €1,300 | €521 | -€779 | -59.9% |
| Total equity and liabilities | 10/49 | €176,775 | €224,800 | +€48,025 | +27.2% |
| Equity | 10/15 | €168,407 | €214,605 | +€46,198 | +27.4% |
| Contributions | 10/11 | €12,408 | €12,408 | = | 0.0% |
| Reserves | 13 | €203,186 | €203,186 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €203,186 | €203,186 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,187 | -€989 | +€46,198 | +97.9% |
| Amounts payable | 17/49 | €8,368 | €10,195 | +€1,827 | +21.8% |
| Amounts payable within one year | 42/48 | €8,368 | €10,195 | +€1,827 | +21.8% |
| Trade debts | 44 | €501 | €360 | -€141 | -28.1% |
| Suppliers | 440/4 | €501 | €360 | -€141 | -28.1% |
| Taxes, remuneration and social security | 45 | €7,867 | €9,835 | +€1,968 | +25.0% |
| Taxes | 450/3 | €7,867 | €9,835 | +€1,968 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,898 | €2,464 | -€2,434 | -49.7% |
| Other operating charges | 640/8 | €2,164 | €2,329 | +€165 | +7.6% |
| Gross operating margin | 9900 | -€43,736 | €51,649 | +€95,386 | |
| Operating profit (loss) | 9901 | -€50,799 | €46,856 | +€97,654 | |
| Financial income | 75/76B | €1,563 | €868 | -€695 | -44.5% |
| Recurring financial income | 75 | €1,563 | €868 | -€695 | -44.5% |
| Financial charges | 65/66B | €175 | €151 | -€24 | -13.6% |
| Recurring financial charges | 65 | €175 | €151 | -€24 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | -€49,411 | €47,572 | +€96,983 | |
| Income taxes | 67/77 | €718 | €1,375 | +€657 | +91.5% |
| Profit (loss) for the period | 9904 | -€50,129 | €46,198 | +€96,326 | |
| Profit (loss) for the period to be appropriated | 9905 | -€50,129 | €46,198 | +€96,326 |
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 18 October 2026 via checked.be.