VALUE DRIVERS PARTNERS: what changed
Two fiscal 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.
VALUE DRIVERS PARTNERS
Largest movements
- Cash +€21,278
up €21,278 (+375.8%), from €5,662 to €26,940
mainly Net result for the year (+€15,920) and Trade debts (+€9,768)
- Receivables within one year +€8,672
up €8,672 (+855.5%), from €1,014 to €9,685
of which Trade receivables: +€8,671
- Deferred charges and accrued income +€772
up €772 (+93.3%), from €828 to €1,600
- Tangible fixed assets +€470
new in 2025: €470
- Reserves +€15,920
up €15,920 (+603.3%), from €2,639 to €18,559
- Trade debts +€9,768
new in 2025: €9,768
- Tax, wage and social debts +€5,281
up €5,281 (+806.3%), from €655 to €5,936
- Gross operating margin +€15,261
up €15,261 (+269.6%), from €5,661 to €20,922
- Taxes +€3,364
up €3,364 (+559.2%), from €602 to €3,966
- Depreciation -€703
down €703 (-63.3%), from €1,111 to €408
- Other operating charges -€679
down €679 (-53.7%), from €1,265 to €585
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 | €8,658 | €39,549 | +€30,891 | +356.8% |
| Fixed assets | 21/28 | €1,154 | €1,324 | +€170 | +14.7% |
| Intangible fixed assets | 21 | €1,154 | €854 | -€300 | -26.0% |
| Tangible fixed assets | 22/27 | - | €470 | +€470 | |
| Furniture and vehicles | 24 | - | €470 | +€470 | |
| Current assets | 29/58 | €7,504 | €38,225 | +€30,721 | +409.4% |
| Amounts receivable within one year | 40/41 | €1,014 | €9,685 | +€8,672 | +855.5% |
| Trade receivables | 40 | €1,009 | €9,680 | +€8,671 | +859.2% |
| Other amounts receivable | 41 | €4 | €5 | +€1 | +15.1% |
| Cash at bank and in hand | 54/58 | €5,662 | €26,940 | +€21,278 | +375.8% |
| Deferred charges and accrued income | 490/1 | €828 | €1,600 | +€772 | +93.3% |
| Total equity and liabilities | 10/49 | €8,658 | €39,549 | +€30,891 | +356.8% |
| Equity | 10/15 | €7,639 | €23,559 | +€15,920 | +208.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,639 | €18,559 | +€15,920 | +603.3% |
| Distributable reserves | 133 | €2,639 | €18,559 | +€15,920 | +603.3% |
| Amounts payable | 17/49 | €1,019 | €15,990 | +€14,971 | +1469.3% |
| Amounts payable within one year | 42/48 | €655 | €15,703 | +€15,049 | +2297.7% |
| Trade debts | 44 | - | €9,768 | +€9,768 | |
| Suppliers | 440/4 | - | €9,768 | +€9,768 | |
| Taxes, remuneration and social security | 45 | €655 | €5,936 | +€5,281 | +806.3% |
| Taxes | 450/3 | €655 | €5,936 | +€5,281 | +806.3% |
| Accrued charges and deferred income | 492/3 | €364 | €287 | -€78 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,111 | €408 | -€703 | -63.3% |
| Other operating charges | 640/8 | €1,265 | €585 | -€679 | -53.7% |
| Gross operating margin | 9900 | €5,661 | €20,922 | +€15,261 | +269.6% |
| Operating profit (loss) | 9901 | €3,285 | €19,929 | +€16,644 | +506.6% |
| Financial charges | 65/66B | €45 | €43 | -€2 | -4.5% |
| Recurring financial charges | 65 | €45 | €43 | -€2 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €3,240 | €19,886 | +€16,646 | +513.7% |
| Income taxes | 67/77 | €602 | €3,966 | +€3,364 | +559.2% |
| Profit (loss) for the period | 9904 | €2,639 | €15,920 | +€13,282 | +503.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,639 | €15,920 | +€13,282 | +503.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.