WHISPER NOT: 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.
WHISPER NOT
Largest movements
- Cash +€61,083
up €61,083 (+28.4%), from €215,042 to €276,125
mainly Net result for the year (+€115,633) and Other debts (+€43,565)
- Stocks and contracts +€10,348
up €10,348 (+3.2%), from €324,140 to €334,488
- Receivables within one year +€8,104
up €8,104 (+49.7%), from €16,297 to €24,401
- Profit (loss) carried forward +€115,633
up €115,633 (+64.8%), from -€178,441 to -€62,808
- Current portion of long-term debt -€75,000
down €75,000 (-37.5%), from €200,000 to €125,000
- Other debts +€43,565
up €43,565 (+37.4%), from €116,480 to €160,044
- Trade debts -€8,727
down €8,727 (-25.3%), from €34,495 to €25,768
- Gross operating margin +€103,047
up €103,047 (+36.9%), from €279,278 to €382,325
- Staff costs +€25,876
up €25,876 (+13.3%), from €195,035 to €220,910
- Taxes +€9,344
up €9,344 (+1,918%), from €487 to €9,831
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 | €568,748 | €644,593 | +€75,844 | +13.3% |
| Fixed assets | 21/28 | €13,270 | €9,579 | -€3,691 | -27.8% |
| Tangible fixed assets | 22/27 | €13,270 | €9,579 | -€3,691 | -27.8% |
| Furniture and vehicles | 24 | €13,270 | €9,579 | -€3,691 | -27.8% |
| Current assets | 29/58 | €555,479 | €635,014 | +€79,535 | +14.3% |
| Stocks and contracts in progress | 3 | €324,140 | €334,488 | +€10,348 | +3.2% |
| Stocks | 30/36 | €324,140 | €334,488 | +€10,348 | +3.2% |
| Amounts receivable within one year | 40/41 | €16,297 | €24,401 | +€8,104 | +49.7% |
| Trade receivables | 40 | €16,297 | €24,401 | +€8,104 | +49.7% |
| Cash at bank and in hand | 54/58 | €215,042 | €276,125 | +€61,083 | +28.4% |
| Total equity and liabilities | 10/49 | €568,748 | €644,593 | +€75,844 | +13.3% |
| Equity | 10/15 | €132,257 | €247,890 | +€115,633 | +87.4% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €290,294 | €290,294 | = | 0.0% |
| Tax-exempt reserves | 132 | €38,750 | €38,750 | = | 0.0% |
| Distributable reserves | 133 | €251,544 | €251,544 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€178,441 | -€62,808 | +€115,633 | +64.8% |
| Amounts payable | 17/49 | €436,491 | €396,702 | -€39,789 | -9.1% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 170/4 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €386,231 | €345,957 | -€40,274 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €200,000 | €125,000 | -€75,000 | -37.5% |
| Trade debts | 44 | €34,495 | €25,768 | -€8,727 | -25.3% |
| Suppliers | 440/4 | €34,495 | €25,768 | -€8,727 | -25.3% |
| Advances received on contracts in progress | 46 | - | €254 | +€254 | |
| Taxes, remuneration and social security | 45 | €35,256 | €34,890 | -€366 | -1.0% |
| Taxes | 450/3 | €13,194 | €21,087 | +€7,893 | +59.8% |
| Remuneration and social security | 454/9 | €22,062 | €13,803 | -€8,259 | -37.4% |
| Other amounts payable | 47/48 | €116,480 | €160,044 | +€43,565 | +37.4% |
| Accrued charges and deferred income | 492/3 | €261 | €746 | +€485 | +186% |
| Remuneration, social security and pensions | 62 | €195,035 | €220,910 | +€25,876 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,850 | €3,691 | +€1,841 | +99.6% |
| Other operating charges | 640/8 | €12,437 | €12,992 | +€555 | +4.5% |
| Gross operating margin | 9900 | €279,278 | €382,325 | +€103,047 | +36.9% |
| Operating profit (loss) | 9901 | €69,956 | €144,732 | +€74,775 | +107% |
| Financial income | 75/76B | €802 | €1,124 | +€323 | +40.3% |
| Recurring financial income | 75 | €471 | €688 | +€217 | +46.2% |
| Non-recurring financial income | 76B | €331 | €436 | +€106 | +31.9% |
| Financial charges | 65/66B | €19,240 | €20,392 | +€1,152 | +6.0% |
| Recurring financial charges | 65 | €19,240 | €20,392 | +€1,152 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €51,518 | €125,464 | +€73,946 | +144% |
| Income taxes | 67/77 | €487 | €9,831 | +€9,344 | +1,918% |
| Profit (loss) for the period | 9904 | €51,031 | €115,633 | +€64,603 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | €51,031 | €115,633 | +€64,603 | +127% |
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 23 October 2026 via checked.be.