valuethrough: 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.
valuethrough
Largest movements
- Receivables within one year +€11,761
up €11,761 (+47.5%), from €24,738 to €36,500
- Intangible fixed assets +€3,293
up €3,293 (+41.6%), from €7,911 to €11,204
- Reserves +€60,000
up €60,000 (+150.0%), from €40,000 to €100,000
- Profit (loss) carried forward -€40,009
down €40,009, from €17,801 to -€22,208
- Other debts -€10,143
down €10,143 (-29.0%), from €35,000 to €24,857
- Tax, wage and social debts +€9,682
up €9,682 (+33.5%), from €28,882 to €38,565
- Trade debts -€4,104
down €4,104 (-21.8%), from €18,829 to €14,726
- Gross operating margin +€32,227
up €32,227 (+40.4%), from €79,816 to €112,043
- Taxes +€20,045
up €20,045 (+156.2%), from €12,837 to €32,882
- Depreciation -€4,756
down €4,756 (-30.8%), from €15,458 to €10,702
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 | €142,513 | €157,939 | +€15,426 | +10.8% |
| Fixed assets | 21/28 | €7,911 | €11,204 | +€3,293 | +41.6% |
| Intangible fixed assets | 21 | €7,911 | €11,204 | +€3,293 | +41.6% |
| Current assets | 29/58 | €134,602 | €146,735 | +€12,133 | +9.0% |
| Amounts receivable within one year | 40/41 | €24,738 | €36,500 | +€11,761 | +47.5% |
| Trade receivables | 40 | €24,738 | €36,500 | +€11,761 | +47.5% |
| Cash at bank and in hand | 54/58 | €109,864 | €110,236 | +€372 | +0.3% |
| Total equity and liabilities | 10/49 | €142,513 | €157,939 | +€15,426 | +10.8% |
| Equity | 10/15 | €59,801 | €79,792 | +€19,991 | +33.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €40,000 | €100,000 | +€60,000 | +150.0% |
| Distributable reserves | 133 | €40,000 | €100,000 | +€60,000 | +150.0% |
| Profit (loss) carried forward | 14 | €17,801 | -€22,208 | -€40,009 | |
| Amounts payable | 17/49 | €82,712 | €78,147 | -€4,564 | -5.5% |
| Amounts payable within one year | 42/48 | €82,712 | €78,147 | -€4,564 | -5.5% |
| Trade debts | 44 | €18,829 | €14,726 | -€4,104 | -21.8% |
| Suppliers | 440/4 | €18,829 | €14,726 | -€4,104 | -21.8% |
| Taxes, remuneration and social security | 45 | €28,882 | €38,565 | +€9,682 | +33.5% |
| Taxes | 450/3 | €28,882 | €38,565 | +€9,682 | +33.5% |
| Other amounts payable | 47/48 | €35,000 | €24,857 | -€10,143 | -29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,458 | €10,702 | -€4,756 | -30.8% |
| Other operating charges | 640/8 | - | €557 | +€557 | |
| Gross operating margin | 9900 | €79,816 | €112,043 | +€32,227 | +40.4% |
| Operating profit (loss) | 9901 | €64,358 | €100,784 | +€36,426 | +56.6% |
| Financial income | 75/76B | €2 | €1 | -€0 | -22.6% |
| Recurring financial income | 75 | €2 | €1 | -€0 | -22.6% |
| Financial charges | 65/66B | €174 | €55 | -€119 | -68.2% |
| Recurring financial charges | 65 | €174 | €55 | -€119 | -68.2% |
| Profit (loss) for the period before taxes | 9903 | €64,186 | €100,730 | +€36,545 | +56.9% |
| Income taxes | 67/77 | €12,837 | €32,882 | +€20,045 | +156.2% |
| Profit (loss) for the period | 9904 | €51,349 | €67,848 | +€16,499 | +32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €51,349 | €67,848 | +€16,499 | +32.1% |
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 11 October 2026 via checked.be.