Words Matter: 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.
Words Matter
Largest movements
- Receivables within one year +€6,350
up €6,350 (+383%), from €1,659 to €8,010
of which Trade receivables: +€6,350
- Cash -€701
down €701 (-3.6%), from €19,700 to €18,999
mainly Receivables within one year (-€6,350) and Investment in fixed assets (net) (-€1,346)
- Tangible fixed assets +€393
up €393 (+29.3%), from €1,341 to €1,734
- Profit (loss) carried forward +€6,328
up €6,328 (+65.9%), from €9,605 to €15,933
- Other debts -€903
down €903 (-57.4%), from €1,573 to €670
- Tax, wage and social debts +€423
up €423 (+21.2%), from €1,996 to €2,419
of which Taxes: +€423
- Turnover +€13,694
up €13,694 (+25.2%), from €54,390 to €68,084
- Purchases and services +€8,967
up €8,967 (+18.2%), from €49,223 to €58,190
- Gross operating margin +€4,727
up €4,727 (+91.5%), from €5,167 to €9,894
- Taxes +€1,317
up €1,317 (+161%), from €820 to €2,137
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 | €22,700 | €28,743 | +€6,043 | +26.6% |
| Fixed assets | 21/28 | €1,341 | €1,734 | +€393 | +29.3% |
| Tangible fixed assets | 22/27 | €1,341 | €1,734 | +€393 | +29.3% |
| Furniture and vehicles | 24 | €1,341 | €1,734 | +€393 | +29.3% |
| Current assets | 29/58 | €21,359 | €27,009 | +€5,650 | +26.5% |
| Amounts receivable within one year | 40/41 | €1,659 | €8,010 | +€6,350 | +383% |
| Trade receivables | 40 | €1,659 | €8,010 | +€6,350 | +383% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €19,700 | €18,999 | -€701 | -3.6% |
| Total equity and liabilities | 10/49 | €22,700 | €28,743 | +€6,043 | +26.6% |
| Equity | 10/15 | €17,665 | €23,993 | +€6,328 | +35.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,605 | €15,933 | +€6,328 | +65.9% |
| Amounts payable | 17/49 | €5,036 | €4,750 | -€285 | -5.7% |
| Amounts payable within one year | 42/48 | €5,036 | €4,750 | -€285 | -5.7% |
| Trade debts | 44 | €1,467 | €1,661 | +€194 | +13.2% |
| Suppliers | 440/4 | €1,467 | €1,661 | +€194 | +13.2% |
| Taxes, remuneration and social security | 45 | €1,996 | €2,419 | +€423 | +21.2% |
| Taxes | 450/3 | €1,996 | €2,419 | +€423 | +21.2% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €1,573 | €670 | -€903 | -57.4% |
| Turnover | 70 | €54,390 | €68,084 | +€13,694 | +25.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €49,223 | €58,190 | +€8,967 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,003 | €953 | -€50 | -5.0% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €5,167 | €9,894 | +€4,727 | +91.5% |
| Operating profit (loss) | 9901 | €4,164 | €8,541 | +€4,377 | +105% |
| Financial charges | 65/66B | €206 | €76 | -€130 | -63.3% |
| Recurring financial charges | 65 | €206 | €76 | -€130 | -63.3% |
| Profit (loss) for the period before taxes | 9903 | €3,958 | €8,466 | +€4,507 | +114% |
| Income taxes | 67/77 | €820 | €2,137 | +€1,317 | +161% |
| Profit (loss) for the period | 9904 | €3,138 | €6,328 | +€3,190 | +102% |
| Profit (loss) for the period to be appropriated | 9905 | €3,138 | €6,328 | +€3,190 | +102% |
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 30 October 2026 via checked.be.