WORDS & SCIENCE: 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 & SCIENCE
Largest movements
- Cash +€46,490
up €46,490 (+20.9%), from €222,289 to €268,779
mainly Net result for the year (+€38,493) and Depreciation (+€20,407)
- Tangible fixed assets -€14,301
down €14,301 (-35.3%), from €40,557 to €26,255
of which Furniture and vehicles: -€7,695
- Receivables within one year -€6,123
down €6,123 (-20.8%), from €29,482 to €23,359
of which Trade receivables: -€6,123
- Reserves +€36,364
up €36,364 (+86.3%), from €42,127 to €78,491
of which Distributable reserves: +€36,364
- Other debts -€8,641
down €8,641 (-43.8%), from €19,750 to €11,109
- Tax, wage and social debts -€6,774
down €6,774 (-63.8%), from €10,618 to €3,844
of which Remuneration and social security: -€4,400
- Trade debts +€5,687
new in 2025: €5,687
- Gross operating margin +€35,292
up €35,292 (+117%), from €30,099 to €65,392
- Taxes -€4,914
down €4,914 (-49.1%), from €10,000 to €5,086
- Depreciation -€1,761
down €1,761 (-7.9%), from €22,168 to €20,407
- Financial charges -€1,192
down €1,192 (-71.0%), from €1,678 to €486
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 | €292,643 | €321,408 | +€28,766 | +9.8% |
| Fixed assets | 21/28 | €40,557 | €26,379 | -€14,178 | -35.0% |
| Tangible fixed assets | 22/27 | €40,557 | €26,255 | -€14,301 | -35.3% |
| Land and buildings | 22 | €9,627 | €4,855 | -€4,772 | -49.6% |
| Plant, machinery and equipment | 23 | €3,444 | €1,609 | -€1,834 | -53.3% |
| Furniture and vehicles | 24 | €27,486 | €19,792 | -€7,695 | -28.0% |
| Financial fixed assets | 28 | - | €123 | +€123 | |
| Current assets | 29/58 | €252,086 | €295,030 | +€42,944 | +17.0% |
| Amounts receivable within one year | 40/41 | €29,482 | €23,359 | -€6,123 | -20.8% |
| Trade receivables | 40 | €29,482 | €23,359 | -€6,123 | -20.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €222,289 | €268,779 | +€46,490 | +20.9% |
| Deferred charges and accrued income | 490/1 | €315 | €2,891 | +€2,576 | +817% |
| Total equity and liabilities | 10/49 | €292,643 | €321,408 | +€28,766 | +9.8% |
| Equity | 10/15 | €262,275 | €300,768 | +€38,493 | +14.7% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €42,127 | €78,491 | +€36,364 | +86.3% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €23,377 | €59,741 | +€36,364 | +156% |
| Profit (loss) carried forward | 14 | €212,088 | €214,218 | +€2,130 | +1.0% |
| Amounts payable | 17/49 | €30,368 | €20,640 | -€9,728 | -32.0% |
| Amounts payable within one year | 42/48 | €30,368 | €20,640 | -€9,728 | -32.0% |
| Trade debts | 44 | - | €5,687 | +€5,687 | |
| Suppliers | 440/4 | - | €5,687 | +€5,687 | |
| Taxes, remuneration and social security | 45 | €10,618 | €3,844 | -€6,774 | -63.8% |
| Taxes | 450/3 | €6,218 | €3,844 | -€2,374 | -38.2% |
| Remuneration and social security | 454/9 | €4,400 | - | -€4,400 | |
| Other amounts payable | 47/48 | €19,750 | €11,109 | -€8,641 | -43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,168 | €20,407 | -€1,761 | -7.9% |
| Other operating charges | 640/8 | €923 | €934 | +€10 | +1.1% |
| Gross operating margin | 9900 | €30,099 | €65,392 | +€35,292 | +117% |
| Operating profit (loss) | 9901 | €7,008 | €44,051 | +€37,043 | +529% |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €1,678 | €486 | -€1,192 | -71.0% |
| Recurring financial charges | 65 | €1,678 | €486 | -€1,192 | -71.0% |
| Profit (loss) for the period before taxes | 9903 | €5,330 | €43,579 | +€38,249 | +718% |
| Income taxes | 67/77 | €10,000 | €5,086 | -€4,914 | -49.1% |
| Profit (loss) for the period | 9904 | -€4,670 | €38,493 | +€43,163 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,670 | €38,493 | +€43,163 |
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 15 October 2026 via checked.be.