WORK IN PROGRESS: 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.
WORK IN PROGRESS
Largest movements
- Cash -€34,386
down €34,386 (-49.4%), from €69,657 to €35,271
mainly Debts after one year (-€62,000) and Investment in fixed assets (net) (-€38,100)
- Tangible fixed assets +€26,708
up €26,708 (+31.4%), from €85,072 to €111,780
of which Furniture and vehicles: +€32,505
- Receivables within one year +€12,038
up €12,038 (+96.8%), from €12,436 to €24,474
of which Trade receivables: +€12,038
- Debts after one year -€62,000
no longer reported in 2025 (was €62,000)
- Other debts +€36,679
up €36,679 (+1959.8%), from €1,872 to €38,551
- Reserves +€19,638
up €19,638 (+58.7%), from €33,428 to €53,066
of which Distributable reserves: +€19,638
- Tax, wage and social debts +€7,358
up €7,358 (+69.2%), from €10,639 to €17,998
- Gross operating margin +€7,808
up €7,808 (+21.9%), from €35,669 to €43,478
- Depreciation +€5,377
up €5,377 (+89.4%), from €6,015 to €11,392
- Financial charges -€3,051
down €3,051 (-98.5%), from €3,097 to €46
- Taxes +€1,722
up €1,722 (+24.0%), from €7,169 to €8,892
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 | €170,028 | €172,973 | +€2,946 | +1.7% |
| Fixed assets | 21/28 | €85,072 | €111,780 | +€26,708 | +31.4% |
| Tangible fixed assets | 22/27 | €85,072 | €111,780 | +€26,708 | +31.4% |
| Land and buildings | 22 | €83,967 | €78,487 | -€5,480 | -6.5% |
| Plant, machinery and equipment | 23 | €1,106 | €789 | -€317 | -28.7% |
| Furniture and vehicles | 24 | - | €32,505 | +€32,505 | |
| Current assets | 29/58 | €84,955 | €61,193 | -€23,762 | -28.0% |
| Amounts receivable within one year | 40/41 | €12,436 | €24,474 | +€12,038 | +96.8% |
| Trade receivables | 40 | €12,084 | €24,122 | +€12,038 | +99.6% |
| Other amounts receivable | 41 | €352 | €352 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €69,657 | €35,271 | -€34,386 | -49.4% |
| Deferred charges and accrued income | 490/1 | €2,862 | €1,448 | -€1,414 | -49.4% |
| Total equity and liabilities | 10/49 | €170,028 | €172,973 | +€2,946 | +1.7% |
| Equity | 10/15 | €95,428 | €115,066 | +€19,638 | +20.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €33,428 | €53,066 | +€19,638 | +58.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €27,228 | €46,866 | +€19,638 | +72.1% |
| Amounts payable | 17/49 | €74,599 | €57,907 | -€16,692 | -22.4% |
| Amounts payable after more than one year | 17 | €62,000 | - | -€62,000 | |
| Financial debts | 170/4 | €62,000 | - | -€62,000 | |
| Amounts payable within one year | 42/48 | €12,599 | €57,907 | +€45,308 | +359.6% |
| Trade debts | 44 | €88 | €1,359 | +€1,270 | +1437.8% |
| Suppliers | 440/4 | €88 | €1,359 | +€1,270 | +1437.8% |
| Taxes, remuneration and social security | 45 | €10,639 | €17,998 | +€7,358 | +69.2% |
| Taxes | 450/3 | €10,639 | €17,998 | +€7,358 | +69.2% |
| Other amounts payable | 47/48 | €1,872 | €38,551 | +€36,679 | +1959.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,015 | €11,392 | +€5,377 | +89.4% |
| Other operating charges | 640/8 | €3,565 | €3,570 | +€5 | +0.1% |
| Gross operating margin | 9900 | €35,669 | €43,478 | +€7,808 | +21.9% |
| Operating profit (loss) | 9901 | €26,089 | €28,516 | +€2,427 | +9.3% |
| Financial income | 75/76B | €73 | €60 | -€12 | -16.8% |
| Recurring financial income | 75 | €73 | €60 | -€12 | -16.8% |
| Financial charges | 65/66B | €3,097 | €46 | -€3,051 | -98.5% |
| Recurring financial charges | 65 | €3,097 | €46 | -€3,051 | -98.5% |
| Profit (loss) for the period before taxes | 9903 | €23,065 | €28,530 | +€5,465 | +23.7% |
| Income taxes | 67/77 | €7,169 | €8,892 | +€1,722 | +24.0% |
| Profit (loss) for the period | 9904 | €15,895 | €19,638 | +€3,743 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,895 | €19,638 | +€3,743 | +23.5% |
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 3 October 2026 via checked.be.