VALUE INSIGHT: 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 INSIGHT
Largest movements
- Cash +€14,796
up €14,796 (+48.6%), from €30,476 to €45,273
mainly Other debts (+€71,321) and Net result for the year (+€28,098)
- Receivables within one year -€4,580
down €4,580 (-8.7%), from €52,726 to €48,147
of which Other amounts receivable: -€3,690
- Tangible fixed assets +€3,912
up €3,912 (+17.6%), from €22,172 to €26,084
of which Furniture and vehicles: +€4,001
- Other debts +€71,321
new in 2025: €71,321
- Profit (loss) carried forward -€51,457
down €51,457 (-94.3%), from €54,555 to €3,098
- Trade debts -€7,320
down €7,320 (-30.3%), from €24,145 to €16,826
- Tax, wage and social debts +€3,140
up €3,140 (+25.9%), from €12,127 to €15,266
- Gross operating margin +€46,342
up €46,342 (+7635.1%), from €607 to €46,949
- Taxes +€9,015
up €9,015 (+298.0%), from €3,026 to €12,041
- Financial charges +€2,053
up €2,053 (+711.8%), from €288 to €2,342
- Depreciation +€829
up €829 (+30.9%), from €2,680 to €3,510
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 | €112,308 | €126,971 | +€14,662 | +13.1% |
| Fixed assets | 21/28 | €24,521 | €29,183 | +€4,662 | +19.0% |
| Tangible fixed assets | 22/27 | €22,172 | €26,084 | +€3,912 | +17.6% |
| Plant, machinery and equipment | 23 | €870 | €781 | -€89 | -10.2% |
| Furniture and vehicles | 24 | €21,302 | €25,304 | +€4,001 | +18.8% |
| Financial fixed assets | 28 | €2,349 | €3,099 | +€750 | +31.9% |
| Current assets | 29/58 | €87,787 | €97,787 | +€10,000 | +11.4% |
| Amounts receivable within one year | 40/41 | €52,726 | €48,147 | -€4,580 | -8.7% |
| Trade receivables | 40 | €39,226 | €38,336 | -€890 | -2.3% |
| Other amounts receivable | 41 | €13,501 | €9,811 | -€3,690 | -27.3% |
| Current investments | 50/53 | €3,454 | €3,469 | +€15 | +0.4% |
| Cash at bank and in hand | 54/58 | €30,476 | €45,273 | +€14,796 | +48.6% |
| Deferred charges and accrued income | 490/1 | €1,131 | €899 | -€232 | -20.5% |
| Total equity and liabilities | 10/49 | €112,308 | €126,971 | +€14,662 | +13.1% |
| Equity | 10/15 | €75,015 | €23,558 | -€51,457 | -68.6% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,555 | €3,098 | -€51,457 | -94.3% |
| Amounts payable | 17/49 | €37,294 | €103,413 | +€66,119 | +177.3% |
| Amounts payable within one year | 42/48 | €36,272 | €103,413 | +€67,141 | +185.1% |
| Trade debts | 44 | €24,145 | €16,826 | -€7,320 | -30.3% |
| Suppliers | 440/4 | €24,145 | €16,826 | -€7,320 | -30.3% |
| Taxes, remuneration and social security | 45 | €12,127 | €15,266 | +€3,140 | +25.9% |
| Taxes | 450/3 | €12,127 | €15,266 | +€3,140 | +25.9% |
| Other amounts payable | 47/48 | - | €71,321 | +€71,321 | |
| Accrued charges and deferred income | 492/3 | €1,022 | - | -€1,022 | |
| Non-recurring operating income | 76A | - | €7,000 | +€7,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,680 | €3,510 | +€829 | +30.9% |
| Other operating charges | 640/8 | €1,074 | €1,185 | +€112 | +10.4% |
| Gross operating margin | 9900 | €607 | €46,949 | +€46,342 | +7635.1% |
| Operating profit (loss) | 9901 | -€3,147 | €42,254 | +€45,401 | |
| Financial income | 75/76B | €81 | €226 | +€145 | +178.1% |
| Recurring financial income | 75 | €81 | €226 | +€145 | +178.1% |
| Financial charges | 65/66B | €288 | €2,342 | +€2,053 | +711.8% |
| Recurring financial charges | 65 | €288 | €2,342 | +€2,053 | +711.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,354 | €40,139 | +€43,493 | |
| Income taxes | 67/77 | €3,026 | €12,041 | +€9,015 | +298.0% |
| Profit (loss) for the period | 9904 | -€6,380 | €28,098 | +€34,478 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,380 | €28,098 | +€34,478 |
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 3 October 2026 via checked.be.