Wo: 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.
Wo
Largest movements
- Current investments +€17,118
up €17,118 (+263.4%), from €6,500 to €23,618
- Tangible fixed assets +€11,967
up €11,967 (+38.5%), from €31,106 to €43,072
of which Leasing and similar rights: +€27,316
- Receivables within one year -€4,685
down €4,685 (-27.3%), from €17,181 to €12,496
of which Trade receivables: -€3,874
- Cash -€4,030
down €4,030 (-5.7%), from €70,476 to €66,446
mainly Investment in fixed assets (net) (-€32,459) and Current investments (-€17,118)
- Current portion of long-term debt +€8,410
up €8,410 (+64.4%), from €13,062 to €21,472
- Debts after one year +€7,030
up €7,030 (+37.4%), from €18,776 to €25,806
- Other debts +€2,647
up €2,647 (+194.5%), from €1,360 to €4,007
- Depreciation +€3,529
up €3,529 (+20.6%), from €17,156 to €20,685
- Gross operating margin -€2,095
down €2,095 (-8.1%), from €25,865 to €23,769
- Taxes +€1,046
new in 2025: €1,046
- Financial income +€1,023
new in 2025: €1,023
- Financial charges +€617
up €617 (+58.4%), from €1,057 to €1,674
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 | €126,768 | €146,472 | +€19,704 | +15.5% |
| Fixed assets | 21/28 | €31,683 | €43,457 | +€11,774 | +37.2% |
| Intangible fixed assets | 21 | €578 | €385 | -€193 | -33.3% |
| Tangible fixed assets | 22/27 | €31,106 | €43,072 | +€11,967 | +38.5% |
| Plant, machinery and equipment | 23 | €2,669 | €901 | -€1,767 | -66.2% |
| Furniture and vehicles | 24 | €28,437 | €14,855 | -€13,582 | -47.8% |
| Leasing and similar rights | 25 | - | €27,316 | +€27,316 | |
| Current assets | 29/58 | €95,085 | €103,015 | +€7,930 | +8.3% |
| Amounts receivable within one year | 40/41 | €17,181 | €12,496 | -€4,685 | -27.3% |
| Trade receivables | 40 | €9,681 | €5,807 | -€3,874 | -40.0% |
| Other amounts receivable | 41 | €7,500 | €6,690 | -€810 | -10.8% |
| Current investments | 50/53 | €6,500 | €23,618 | +€17,118 | +263.4% |
| Cash at bank and in hand | 54/58 | €70,476 | €66,446 | -€4,030 | -5.7% |
| Deferred charges and accrued income | 490/1 | €928 | €455 | -€474 | -51.0% |
| Total equity and liabilities | 10/49 | €126,768 | €146,472 | +€19,704 | +15.5% |
| Equity | 10/15 | €88,487 | €89,577 | +€1,089 | +1.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €68,716 | €68,716 | = | 0.0% |
| Distributable reserves | 133 | €68,716 | €68,716 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,229 | -€4,140 | +€1,089 | +20.8% |
| Amounts payable | 17/49 | €38,281 | €56,896 | +€18,615 | +48.6% |
| Amounts payable after more than one year | 17 | €18,776 | €25,806 | +€7,030 | +37.4% |
| Financial debts | 170/4 | €18,776 | €25,806 | +€7,030 | +37.4% |
| Amounts payable within one year | 42/48 | €18,859 | €30,234 | +€11,375 | +60.3% |
| Current portion of amounts payable after more than one year | 42 | €13,062 | €21,472 | +€8,410 | +64.4% |
| Trade debts | 44 | €175 | €665 | +€489 | +278.9% |
| Suppliers | 440/4 | €175 | €665 | +€489 | +278.9% |
| Taxes, remuneration and social security | 45 | €4,262 | €4,091 | -€171 | -4.0% |
| Taxes | 450/3 | €4,262 | €4,091 | -€171 | -4.0% |
| Other amounts payable | 47/48 | €1,360 | €4,007 | +€2,647 | +194.5% |
| Accrued charges and deferred income | 492/3 | €646 | €856 | +€209 | +32.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,156 | €20,685 | +€3,529 | +20.6% |
| Other operating charges | 640/8 | €141 | €298 | +€158 | +112.1% |
| Gross operating margin | 9900 | €25,865 | €23,769 | -€2,095 | -8.1% |
| Operating profit (loss) | 9901 | €8,569 | €2,786 | -€5,782 | -67.5% |
| Financial income | 75/76B | - | €1,023 | +€1,023 | |
| Recurring financial income | 75 | - | €1,023 | +€1,023 | |
| Financial charges | 65/66B | €1,057 | €1,674 | +€617 | +58.4% |
| Recurring financial charges | 65 | €1,057 | €1,674 | +€617 | +58.4% |
| Profit (loss) for the period before taxes | 9903 | €7,511 | €2,136 | -€5,376 | -71.6% |
| Income taxes | 67/77 | - | €1,046 | +€1,046 | |
| Profit (loss) for the period | 9904 | €7,511 | €1,089 | -€6,422 | -85.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,511 | €1,089 | -€6,422 | -85.5% |
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 10 October 2026 via checked.be.