WATCH IT: 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.
WATCH IT
Largest movements
- Current investments +€14,000
up €14,000 (+94.8%), from €14,765 to €28,765
- Cash +€4,967
up €4,967 (+61.4%), from €8,087 to €13,054
mainly Net result for the year (+€18,912) and Depreciation (+€5,692)
- Receivables within one year -€4,660
down €4,660 (-28.8%), from €16,162 to €11,502
of which Trade receivables: -€11,866
- Tangible fixed assets -€2,774
down €2,774 (-10.1%), from €27,366 to €24,592
of which Plant, machinery and equipment: -€2,004
- Other debts +€4,061
up €4,061 (+46.7%), from €8,699 to €12,760
- Profit (loss) carried forward +€3,912
up €3,912 (+12.8%), from €30,670 to €34,582
- Tax, wage and social debts +€2,134
up €2,134 (+756.2%), from €282 to €2,416
- Trade debts +€1,414
up €1,414 (+193.6%), from €730 to €2,145
- Gross operating margin -€15,275
down €15,275 (-31.1%), from €49,140 to €33,865
- Other operating charges -€2,056
down €2,056 (-64.8%), from €3,174 to €1,119
- Depreciation -€700
down €700 (-10.9%), from €6,392 to €5,692
- Financial charges -€503
down €503 (-17.2%), from €2,922 to €2,419
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 | €66,935 | €78,427 | +€11,491 | +17.2% |
| Fixed assets | 21/28 | €27,566 | €24,792 | -€2,774 | -10.1% |
| Tangible fixed assets | 22/27 | €27,366 | €24,592 | -€2,774 | -10.1% |
| Plant, machinery and equipment | 23 | €8,869 | €6,865 | -€2,004 | -22.6% |
| Furniture and vehicles | 24 | €13,072 | €12,302 | -€770 | -5.9% |
| Other tangible fixed assets | 26 | €5,425 | €5,425 | = | 0.0% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €39,369 | €53,634 | +€14,265 | +36.2% |
| Amounts receivable within one year | 40/41 | €16,162 | €11,502 | -€4,660 | -28.8% |
| Trade receivables | 40 | €11,866 | - | -€11,866 | |
| Other amounts receivable | 41 | €4,296 | €11,502 | +€7,206 | +167.7% |
| Current investments | 50/53 | €14,765 | €28,765 | +€14,000 | +94.8% |
| Cash at bank and in hand | 54/58 | €8,087 | €13,054 | +€4,967 | +61.4% |
| Deferred charges and accrued income | 490/1 | €355 | €313 | -€43 | -12.0% |
| Total equity and liabilities | 10/49 | €66,935 | €78,427 | +€11,491 | +17.2% |
| Equity | 10/15 | €57,194 | €61,106 | +€3,912 | +6.8% |
| Reserves | 13 | €26,524 | €26,524 | = | 0.0% |
| Distributable reserves | 133 | €26,524 | €26,524 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,670 | €34,582 | +€3,912 | +12.8% |
| Amounts payable | 17/49 | €9,742 | €17,320 | +€7,579 | +77.8% |
| Amounts payable within one year | 42/48 | €9,712 | €17,320 | +€7,609 | +78.3% |
| Trade debts | 44 | €730 | €2,145 | +€1,414 | +193.6% |
| Suppliers | 440/4 | €730 | €2,145 | +€1,414 | +193.6% |
| Taxes, remuneration and social security | 45 | €282 | €2,416 | +€2,134 | +756.2% |
| Taxes | 450/3 | €282 | €2,416 | +€2,134 | +756.2% |
| Other amounts payable | 47/48 | €8,699 | €12,760 | +€4,061 | +46.7% |
| Accrued charges and deferred income | 492/3 | €30 | - | -€30 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,392 | €5,692 | -€700 | -10.9% |
| Other operating charges | 640/8 | €3,174 | €1,119 | -€2,056 | -64.8% |
| Gross operating margin | 9900 | €49,140 | €33,865 | -€15,275 | -31.1% |
| Operating profit (loss) | 9901 | €39,574 | €27,054 | -€12,520 | -31.6% |
| Financial income | 75/76B | €192 | €76 | -€116 | -60.6% |
| Recurring financial income | 75 | €192 | €76 | -€116 | -60.6% |
| Financial charges | 65/66B | €2,922 | €2,419 | -€503 | -17.2% |
| Recurring financial charges | 65 | €2,922 | €2,419 | -€503 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €36,844 | €24,711 | -€12,133 | -32.9% |
| Income taxes | 67/77 | €5,937 | €5,798 | -€139 | -2.3% |
| Profit (loss) for the period | 9904 | €30,907 | €18,912 | -€11,995 | -38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €30,907 | €18,912 | -€11,995 | -38.8% |
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.