WHOUT: 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.
WHOUT
Largest movements
- Receivables within one year +€32,801
up €32,801 (+454.7%), from €7,213 to €40,014
of which Trade receivables: +€26,326
- Tangible fixed assets +€6,001
up €6,001 (+3.0%), from €200,583 to €206,583
of which Plant, machinery and equipment: +€22,176
- Other debts +€13,280
up €13,280 (+771.8%), from €1,720 to €15,000
- Trade debts +€11,238
up €11,238 (+260.8%), from €4,310 to €15,548
- Accrued charges and deferred income +€10,800
up €10,800 (+60.8%), from €17,767 to €28,567
- Debts after one year +€5,742
up €5,742 (+4.1%), from €139,725 to €145,467
- Gross operating margin +€5,886
up €5,886 (+13.2%), from €44,438 to €50,324
- Depreciation -€3,558
down €3,558 (-14.3%), from €24,892 to €21,334
- Taxes +€2,694
up €2,694 (+72.0%), from €3,743 to €6,437
- Other operating charges +€600
up €600 (+49.4%), from €1,215 to €1,815
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 | €232,981 | €273,379 | +€40,397 | +17.3% |
| Fixed assets | 21/28 | €200,583 | €206,583 | +€6,001 | +3.0% |
| Tangible fixed assets | 22/27 | €200,583 | €206,583 | +€6,001 | +3.0% |
| Land and buildings | 22 | €182,830 | €174,810 | -€8,020 | -4.4% |
| Plant, machinery and equipment | 23 | €7,111 | €29,287 | +€22,176 | +311.9% |
| Furniture and vehicles | 24 | €7,146 | €990 | -€6,155 | -86.1% |
| Other tangible fixed assets | 26 | €3,496 | €1,496 | -€2,000 | -57.2% |
| Current assets | 29/58 | €32,399 | €66,795 | +€34,397 | +106.2% |
| Stocks and contracts in progress | 3 | €2,305 | €2,185 | -€120 | -5.2% |
| Stocks | 30/36 | €2,305 | €2,185 | -€120 | -5.2% |
| Amounts receivable within one year | 40/41 | €7,213 | €40,014 | +€32,801 | +454.7% |
| Trade receivables | 40 | €7,213 | €33,539 | +€26,326 | +365.0% |
| Other amounts receivable | 41 | - | €6,475 | +€6,475 | |
| Cash at bank and in hand | 54/58 | €20,780 | €22,220 | +€1,440 | +6.9% |
| Deferred charges and accrued income | 490/1 | €2,101 | €2,376 | +€276 | +13.1% |
| Total equity and liabilities | 10/49 | €232,981 | €273,379 | +€40,397 | +17.3% |
| Equity | 10/15 | €44,481 | €44,460 | -€21 | 0.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €42,000 | €42,000 | = | 0.0% |
| Distributable reserves | 133 | €42,000 | €42,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €481 | €460 | -€21 | -4.4% |
| Amounts payable | 17/49 | €188,500 | €228,919 | +€40,419 | +21.4% |
| Amounts payable after more than one year | 17 | €139,725 | €145,467 | +€5,742 | +4.1% |
| Financial debts | 170/4 | €139,725 | €145,467 | +€5,742 | +4.1% |
| Amounts payable within one year | 42/48 | €31,009 | €54,886 | +€23,877 | +77.0% |
| Current portion of amounts payable after more than one year | 42 | €17,427 | €18,158 | +€731 | +4.2% |
| Trade debts | 44 | €4,310 | €15,548 | +€11,238 | +260.8% |
| Suppliers | 440/4 | €4,310 | €15,548 | +€11,238 | +260.8% |
| Taxes, remuneration and social security | 45 | €7,551 | €6,179 | -€1,372 | -18.2% |
| Taxes | 450/3 | €7,551 | €6,179 | -€1,372 | -18.2% |
| Other amounts payable | 47/48 | €1,720 | €15,000 | +€13,280 | +771.8% |
| Accrued charges and deferred income | 492/3 | €17,767 | €28,567 | +€10,800 | +60.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,892 | €21,334 | -€3,558 | -14.3% |
| Other operating charges | 640/8 | €1,215 | €1,815 | +€600 | +49.4% |
| Gross operating margin | 9900 | €44,438 | €50,324 | +€5,886 | +13.2% |
| Operating profit (loss) | 9901 | €18,331 | €27,175 | +€8,844 | +48.2% |
| Financial income | 75/76B | €72 | €233 | +€160 | +222.2% |
| Recurring financial income | 75 | €72 | €233 | +€160 | +222.2% |
| Financial charges | 65/66B | €6,186 | €5,992 | -€193 | -3.1% |
| Recurring financial charges | 65 | €6,186 | €5,992 | -€193 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €12,217 | €21,416 | +€9,198 | +75.3% |
| Income taxes | 67/77 | €3,743 | €6,437 | +€2,694 | +72.0% |
| Profit (loss) for the period | 9904 | €8,475 | €14,979 | +€6,504 | +76.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,475 | €14,979 | +€6,504 | +76.7% |
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 2 October 2026 via checked.be.