VORTEX: 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.
VORTEX
Largest movements
- Cash +€234,555
up €234,555 (+37.2%), from €630,056 to €864,611
mainly Net result for the year (+€216,486) and Current investments (+€200,002)
- Current investments -€200,002
down €200,002 (-100.0%), from €200,069 to €67
- Receivables within one year +€26,327
up €26,327 (+4.9%), from €538,998 to €565,325
- Deferred charges and accrued income -€22,306
down €22,306 (-75.0%), from €29,730 to €7,424
- Profit (loss) carried forward +€91,486
up €91,486 (+9.3%), from €986,363 to €1.1m
- Trade debts -€45,755
down €45,755 (-21.1%), from €216,882 to €171,127
- Tax, wage and social debts -€15,945
down €15,945 (-15.1%), from €105,600 to €89,654
of which Taxes: -€12,609
- Gross operating margin +€97,458
up €97,458 (+16.8%), from €581,542 to €679,000
- Financial income -€88,380
down €88,380 (-83.6%), from €105,694 to €17,314
of which Non-recurring financial income: -€88,380
- Turnover +€76,099
up €76,099 (+6.7%), from €1.1m to €1.2m
- Staff costs +€52,817
up €52,817 (+15.3%), from €346,120 to €398,937
- Purchases and services -€20,242
down €20,242 (-3.6%), from €563,712 to €543,470
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 | €1,455,846 | €1,485,631 | +€29,785 | +2.0% |
| Fixed assets | 21/28 | €56,993 | €48,204 | -€8,789 | -15.4% |
| Tangible fixed assets | 22/27 | €36,957 | €28,168 | -€8,789 | -23.8% |
| Land and buildings | 22 | €25,875 | €23,783 | -€2,092 | -8.1% |
| Plant, machinery and equipment | 23 | €9,237 | €3,001 | -€6,236 | -67.5% |
| Furniture and vehicles | 24 | €1,845 | €1,384 | -€461 | -25.0% |
| Financial fixed assets | 28 | €20,036 | €20,036 | = | 0.0% |
| Current assets | 29/58 | €1,398,853 | €1,437,427 | +€38,574 | +2.8% |
| Amounts receivable within one year | 40/41 | €538,998 | €565,325 | +€26,327 | +4.9% |
| Trade receivables | 40 | €538,998 | €565,325 | +€26,327 | +4.9% |
| Current investments | 50/53 | €200,069 | €67 | -€200,002 | -100.0% |
| Cash at bank and in hand | 54/58 | €630,056 | €864,611 | +€234,555 | +37.2% |
| Deferred charges and accrued income | 490/1 | €29,730 | €7,424 | -€22,306 | -75.0% |
| Total equity and liabilities | 10/49 | €1,455,846 | €1,485,631 | +€29,785 | +2.0% |
| Equity | 10/15 | €1,008,363 | €1,099,849 | +€91,486 | +9.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €986,363 | €1,077,849 | +€91,486 | +9.3% |
| Amounts payable | 17/49 | €447,482 | €385,782 | -€61,700 | -13.8% |
| Amounts payable within one year | 42/48 | €447,482 | €385,782 | -€61,700 | -13.8% |
| Trade debts | 44 | €216,882 | €171,127 | -€45,755 | -21.1% |
| Suppliers | 440/4 | €216,882 | €171,127 | -€45,755 | -21.1% |
| Taxes, remuneration and social security | 45 | €105,600 | €89,654 | -€15,945 | -15.1% |
| Taxes | 450/3 | €58,382 | €45,773 | -€12,609 | -21.6% |
| Remuneration and social security | 454/9 | €47,217 | €43,881 | -€3,336 | -7.1% |
| Other amounts payable | 47/48 | €125,000 | €125,000 | = | 0.0% |
| Turnover | 70 | €1,139,224 | €1,215,324 | +€76,099 | +6.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €563,712 | €543,470 | -€20,242 | -3.6% |
| Remuneration, social security and pensions | 62 | €346,120 | €398,937 | +€52,817 | +15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,394 | €8,789 | -€1,605 | -15.4% |
| Other operating charges | 640/8 | €1,704 | €1,592 | -€113 | -6.6% |
| Gross operating margin | 9900 | €581,542 | €679,000 | +€97,458 | +16.8% |
| Operating profit (loss) | 9901 | €223,325 | €269,683 | +€46,358 | +20.8% |
| Financial income | 75/76B | €105,694 | €17,314 | -€88,380 | -83.6% |
| Recurring financial income | 75 | €4,000 | €4,001 | +€0 | 0.0% |
| Non-recurring financial income | 76B | €101,694 | €13,313 | -€88,380 | -86.9% |
| Financial charges | 65/66B | €802 | €860 | +€58 | +7.2% |
| Recurring financial charges | 65 | €802 | €860 | +€58 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €328,216 | €286,137 | -€42,080 | -12.8% |
| Income taxes | 67/77 | €74,439 | €69,651 | -€4,788 | -6.4% |
| Profit (loss) for the period | 9904 | €253,777 | €216,486 | -€37,292 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €253,777 | €216,486 | -€37,292 | -14.7% |
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 15 October 2026 via checked.be.