w.improve: 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.
w.improve
Largest movements
- Cash +€64,800
up €64,800 (+30.2%), from €214,240 to €279,040
mainly Net result for the year (+€62,215) and Receivables after one year (+€40,500)
- Receivables after one year -€40,500
no longer reported in 2025 (was €40,500)
- Deferred charges and accrued income +€8,976
new in 2025: €8,976
- Reserves +€13,967
up €13,967 (+6.7%), from €207,577 to €221,543
- Tax, wage and social debts +€8,243
up €8,243 (+48.5%), from €16,983 to €25,226
- Trade debts +€5,549
up €5,549 (+1508.5%), from €368 to €5,917
- Other debts +€4,877
up €4,877 (+9.9%), from €49,329 to €54,206
- Gross operating margin +€38,276
up €38,276 (+68.6%), from €55,757 to €94,033
- Taxes +€9,679
up €9,679 (+63.9%), from €15,143 to €24,822
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 | €280,457 | €313,093 | +€32,636 | +11.6% |
| Fixed assets | 21/28 | €10,400 | €11,565 | +€1,165 | +11.2% |
| Tangible fixed assets | 22/27 | €10,400 | €11,565 | +€1,165 | +11.2% |
| Plant, machinery and equipment | 23 | €75 | - | -€75 | |
| Furniture and vehicles | 24 | €5,446 | €5,581 | +€135 | +2.5% |
| Other tangible fixed assets | 26 | €4,878 | €5,983 | +€1,105 | +22.7% |
| Current assets | 29/58 | €270,057 | €301,528 | +€31,471 | +11.7% |
| Amounts receivable after more than one year | 29 | €40,500 | - | -€40,500 | |
| Other amounts receivable | 291 | €40,500 | - | -€40,500 | |
| Amounts receivable within one year | 40/41 | €15,317 | €13,512 | -€1,805 | -11.8% |
| Trade receivables | 40 | €15,317 | €13,512 | -€1,805 | -11.8% |
| Cash at bank and in hand | 54/58 | €214,240 | €279,040 | +€64,800 | +30.2% |
| Deferred charges and accrued income | 490/1 | - | €8,976 | +€8,976 | |
| Total equity and liabilities | 10/49 | €280,457 | €313,093 | +€32,636 | +11.6% |
| Equity | 10/15 | €213,777 | €227,743 | +€13,967 | +6.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €207,577 | €221,543 | +€13,967 | +6.7% |
| Distributable reserves | 133 | €207,577 | €221,543 | +€13,967 | +6.7% |
| Amounts payable | 17/49 | €66,680 | €85,349 | +€18,669 | +28.0% |
| Amounts payable within one year | 42/48 | €66,680 | €85,349 | +€18,669 | +28.0% |
| Trade debts | 44 | €368 | €5,917 | +€5,549 | +1508.5% |
| Suppliers | 440/4 | €368 | €5,917 | +€5,549 | +1508.5% |
| Taxes, remuneration and social security | 45 | €16,983 | €25,226 | +€8,243 | +48.5% |
| Taxes | 450/3 | €16,983 | €25,226 | +€8,243 | +48.5% |
| Other amounts payable | 47/48 | €49,329 | €54,206 | +€4,877 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,460 | €1,390 | -€70 | -4.8% |
| Other operating charges | 640/8 | €1,452 | €2,283 | +€831 | +57.3% |
| Gross operating margin | 9900 | €55,757 | €94,033 | +€38,276 | +68.6% |
| Operating profit (loss) | 9901 | €52,845 | €90,360 | +€37,515 | +71.0% |
| Financial income | 75/76B | €608 | - | -€608 | |
| Recurring financial income | 75 | €608 | - | -€608 | |
| Financial charges | 65/66B | €3,607 | €3,323 | -€284 | -7.9% |
| Recurring financial charges | 65 | €3,607 | €3,323 | -€284 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €49,846 | €87,037 | +€37,191 | +74.6% |
| Income taxes | 67/77 | €15,143 | €24,822 | +€9,679 | +63.9% |
| Profit (loss) for the period | 9904 | €34,703 | €62,215 | +€27,512 | +79.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,703 | €62,215 | +€27,512 | +79.3% |
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 6 October 2026 via checked.be.