Vertical 3: what changed
Vertical 3
Largest movements
- Cash +€17,025
up €17,025 (+11,989%), from €142 to €17,167
mainly Net result for the year (+€12,444) and Investment in fixed assets (net) (+€4,145)
- Tangible fixed assets -€4,872
down €4,872 (-83.2%), from €5,859 to €987
of which Furniture and vehicles: -€4,214
- Receivables within one year +€1,023
up €1,023 (+63.3%), from €1,616 to €2,639
of which Trade receivables: +€887
- Deferred charges and accrued income -€875
down €875 (-79.5%), from €1,101 to €226
- Profit (loss) carried forward +€12,443
up €12,443 (+31.0%), from -€40,107 to -€27,664
- Debts after one year -€937
down €937 (-3.3%), from €28,362 to €27,425
- Trade debts +€856
up €856 (+50.9%), from €1,682 to €2,538
- Gross operating margin +€14,572
up €14,572, from -€568 to €14,004
- Depreciation -€6,050
down €6,050 (-89.3%), from €6,777 to €727
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,718 | €21,019 | +€12,301 | +141% |
| Fixed assets | 21/28 | €5,859 | €987 | -€4,872 | -83.2% |
| Tangible fixed assets | 22/27 | €5,859 | €987 | -€4,872 | -83.2% |
| Plant, machinery and equipment | 23 | €1,019 | €361 | -€658 | -64.6% |
| Furniture and vehicles | 24 | €4,840 | €626 | -€4,214 | -87.1% |
| Current assets | 29/58 | €2,859 | €20,032 | +€17,173 | +601% |
| Amounts receivable within one year | 40/41 | €1,616 | €2,639 | +€1,023 | +63.3% |
| Trade receivables | 40 | €1,549 | €2,436 | +€887 | +57.3% |
| Other amounts receivable | 41 | €67 | €203 | +€136 | +203% |
| Cash at bank and in hand | 54/58 | €142 | €17,167 | +€17,025 | +11,989% |
| Deferred charges and accrued income | 490/1 | €1,101 | €226 | -€875 | -79.5% |
| Total equity and liabilities | 10/49 | €8,718 | €21,019 | +€12,301 | +141% |
| Equity | 10/15 | -€21,507 | -€9,064 | +€12,443 | +57.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,107 | -€27,664 | +€12,443 | +31.0% |
| Amounts payable | 17/49 | €30,225 | €30,083 | -€142 | -0.5% |
| Amounts payable after more than one year | 17 | €28,362 | €27,425 | -€937 | -3.3% |
| Other amounts payable | 178/9 | €28,362 | €27,425 | -€937 | -3.3% |
| Amounts payable within one year | 42/48 | €1,857 | €2,658 | +€801 | +43.1% |
| Trade debts | 44 | €1,682 | €2,538 | +€856 | +50.9% |
| Suppliers | 440/4 | €1,682 | €2,538 | +€856 | +50.9% |
| Taxes, remuneration and social security | 45 | €175 | €120 | -€55 | -31.4% |
| Taxes | 450/3 | €175 | €120 | -€55 | -31.4% |
| Accrued charges and deferred income | 492/3 | €6 | - | -€6 | |
| Non-recurring operating income | 76A | - | €14,929 | +€14,929 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,777 | €727 | -€6,050 | -89.3% |
| Other operating charges | 640/8 | €677 | €582 | -€95 | -14.0% |
| Gross operating margin | 9900 | -€568 | €14,004 | +€14,572 | |
| Operating profit (loss) | 9901 | -€8,022 | €12,695 | +€20,717 | |
| Financial charges | 65/66B | €73 | €131 | +€58 | +79.5% |
| Recurring financial charges | 65 | €73 | €131 | +€58 | +79.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,095 | €12,564 | +€20,659 | |
| Income taxes | 67/77 | €175 | €120 | -€55 | -31.4% |
| Profit (loss) for the period | 9904 | -€8,270 | €12,444 | +€20,714 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,270 | €12,444 | +€20,714 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.