WHITE BOX CREATIONS: 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.
WHITE BOX CREATIONS
Largest movements
- Receivables within one year +€63,062
up €63,062 (+269%), from €23,434 to €86,496
of which Trade receivables: +€54,926
- Cash +€20,990
up €20,990 (+1,667%), from €1,259 to €22,249
mainly Trade debts (+€41,486) and Net result for the year (+€30,097)
- Trade debts +€41,486
up €41,486 (+282%), from €14,699 to €56,185
- Tax, wage and social debts +€17,653
up €17,653 (+982%), from €1,798 to €19,451
- Reserves +€10,000
up €10,000 (+538%), from €1,860 to €11,860
of which Distributable reserves: +€10,000
- Other debts +€9,168
up €9,168 (+688%), from €1,332 to €10,500
- Profit (loss) carried forward +€5,097
up €5,097 (+30.5%), from €16,705 to €21,802
- Gross operating margin +€34,574
up €34,574 (+189%), from €18,252 to €52,826
- Taxes +€11,421
up €11,421 (+649%), from €1,761 to €13,182
- Depreciation +€4,480
up €4,480 (+155%), from €2,887 to €7,367
- Write-downs +€1,951
new in 2025: €1,951
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 | €49,044 | €132,256 | +€83,212 | +170% |
| Fixed assets | 21/28 | €23,909 | €22,821 | -€1,088 | -4.6% |
| Tangible fixed assets | 22/27 | €23,389 | €22,301 | -€1,088 | -4.7% |
| Plant, machinery and equipment | 23 | €336 | €1,448 | +€1,112 | +331% |
| Furniture and vehicles | 24 | €23,053 | €20,853 | -€2,200 | -9.5% |
| Financial fixed assets | 28 | €520 | €520 | = | 0.0% |
| Current assets | 29/58 | €25,135 | €109,435 | +€84,300 | +335% |
| Amounts receivable within one year | 40/41 | €23,434 | €86,496 | +€63,062 | +269% |
| Trade receivables | 40 | €21,476 | €76,402 | +€54,926 | +256% |
| Other amounts receivable | 41 | €1,958 | €10,094 | +€8,136 | +416% |
| Cash at bank and in hand | 54/58 | €1,259 | €22,249 | +€20,990 | +1,667% |
| Deferred charges and accrued income | 490/1 | €442 | €690 | +€248 | +56.1% |
| Total equity and liabilities | 10/49 | €49,044 | €132,256 | +€83,212 | +170% |
| Equity | 10/15 | €30,965 | €46,062 | +€15,097 | +48.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €11,860 | +€10,000 | +538% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €10,000 | +€10,000 | |
| Profit (loss) carried forward | 14 | €16,705 | €21,802 | +€5,097 | +30.5% |
| Amounts payable | 17/49 | €18,079 | €86,194 | +€68,115 | +377% |
| Amounts payable within one year | 42/48 | €17,829 | €86,136 | +€68,307 | +383% |
| Trade debts | 44 | €14,699 | €56,185 | +€41,486 | +282% |
| Suppliers | 440/4 | €14,699 | €56,185 | +€41,486 | +282% |
| Taxes, remuneration and social security | 45 | €1,798 | €19,451 | +€17,653 | +982% |
| Taxes | 450/3 | €1,798 | €19,451 | +€17,653 | +982% |
| Other amounts payable | 47/48 | €1,332 | €10,500 | +€9,168 | +688% |
| Accrued charges and deferred income | 492/3 | €250 | €58 | -€192 | -76.8% |
| Non-recurring operating income | 76A | €8,135 | - | -€8,135 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,887 | €7,367 | +€4,480 | +155% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,951 | +€1,951 | |
| Gross operating margin | 9900 | €18,252 | €52,826 | +€34,574 | +189% |
| Operating profit (loss) | 9901 | €15,365 | €43,508 | +€28,143 | +183% |
| Financial income | 75/76B | - | €240 | +€240 | |
| Recurring financial income | 75 | - | €240 | +€240 | |
| Financial charges | 65/66B | €445 | €469 | +€24 | +5.4% |
| Recurring financial charges | 65 | €445 | €469 | +€24 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €14,920 | €43,279 | +€28,359 | +190% |
| Income taxes | 67/77 | €1,761 | €13,182 | +€11,421 | +649% |
| Profit (loss) for the period | 9904 | €13,159 | €30,097 | +€16,938 | +129% |
| Profit (loss) for the period to be appropriated | 9905 | €13,159 | €30,097 | +€16,938 | +129% |
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 22 October 2026 via checked.be.