Work On: 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.
Work On
Largest movements
- Receivables within one year -€14,661
down €14,661 (-45.4%), from €32,312 to €17,651
- Tangible fixed assets +€12,107
up €12,107 (+17.0%), from €71,321 to €83,428
of which Plant, machinery and equipment: +€23,269
- Cash +€7,859
up €7,859 (+146.5%), from €5,364 to €13,223
mainly Net result for the year (+€38,602) and Depreciation (+€14,994)
- Reserves +€48,461
new in 2025: €48,461
- Trade debts -€19,043
down €19,043 (-89.5%), from €21,284 to €2,241
- Other debts -€12,433
down €12,433 (-75.2%), from €16,534 to €4,101
- Debts after one year -€10,649
down €10,649 (-27.0%), from €39,458 to €28,809
- Profit (loss) carried forward -€9,859
no longer reported in 2025 (was €9,859)
- Gross operating margin +€32,125
up €32,125 (+92.6%), from €34,684 to €66,809
- Taxes +€7,909
up €7,909 (+264.9%), from €2,985 to €10,894
- Depreciation +€7,513
up €7,513 (+100.4%), from €7,481 to €14,994
- Staff costs -€1,008
no longer reported in 2025 (was €1,008)
- Financial charges +€913
up €913 (+72.2%), from €1,264 to €2,177
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 | €108,997 | €115,165 | +€6,168 | +5.7% |
| Fixed assets | 21/28 | €71,321 | €83,528 | +€12,207 | +17.1% |
| Tangible fixed assets | 22/27 | €71,321 | €83,428 | +€12,107 | +17.0% |
| Land and buildings | 22 | €21,093 | €18,900 | -€2,193 | -10.4% |
| Plant, machinery and equipment | 23 | €1,337 | €24,606 | +€23,269 | +1740.7% |
| Furniture and vehicles | 24 | €48,892 | €39,923 | -€8,968 | -18.3% |
| Financial fixed assets | 28 | - | €100 | +€100 | |
| Current assets | 29/58 | €37,676 | €31,636 | -€6,039 | -16.0% |
| Amounts receivable within one year | 40/41 | €32,312 | €17,651 | -€14,661 | -45.4% |
| Trade receivables | 40 | €32,312 | €17,651 | -€14,661 | -45.4% |
| Cash at bank and in hand | 54/58 | €5,364 | €13,223 | +€7,859 | +146.5% |
| Deferred charges and accrued income | 490/1 | - | €763 | +€763 | |
| Total equity and liabilities | 10/49 | €108,997 | €115,165 | +€6,168 | +5.7% |
| Equity | 10/15 | €12,359 | €50,961 | +€38,602 | +312.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €48,461 | +€48,461 | |
| Distributable reserves | 133 | - | €48,461 | +€48,461 | |
| Profit (loss) carried forward | 14 | €9,859 | - | -€9,859 | |
| Amounts payable | 17/49 | €96,638 | €64,204 | -€32,433 | -33.6% |
| Amounts payable after more than one year | 17 | €39,458 | €28,809 | -€10,649 | -27.0% |
| Financial debts | 170/4 | €39,458 | €28,809 | -€10,649 | -27.0% |
| Amounts payable within one year | 42/48 | €57,055 | €35,395 | -€21,660 | -38.0% |
| Current portion of amounts payable after more than one year | 42 | €10,181 | €10,649 | +€467 | +4.6% |
| Trade debts | 44 | €21,284 | €2,241 | -€19,043 | -89.5% |
| Suppliers | 440/4 | €21,284 | €2,241 | -€19,043 | -89.5% |
| Taxes, remuneration and social security | 45 | €9,055 | €18,404 | +€9,349 | +103.2% |
| Taxes | 450/3 | €7,555 | €18,404 | +€10,849 | +143.6% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €16,534 | €4,101 | -€12,433 | -75.2% |
| Accrued charges and deferred income | 492/3 | €125 | - | -€125 | |
| Remuneration, social security and pensions | 62 | €1,008 | - | -€1,008 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,481 | €14,994 | +€7,513 | +100.4% |
| Other operating charges | 640/8 | €118 | €142 | +€24 | +20.7% |
| Gross operating margin | 9900 | €34,684 | €66,809 | +€32,125 | +92.6% |
| Operating profit (loss) | 9901 | €26,077 | €51,672 | +€25,595 | +98.2% |
| Financial charges | 65/66B | €1,264 | €2,177 | +€913 | +72.2% |
| Recurring financial charges | 65 | €1,264 | €2,177 | +€913 | +72.2% |
| Profit (loss) for the period before taxes | 9903 | €24,814 | €49,496 | +€24,682 | +99.5% |
| Income taxes | 67/77 | €2,985 | €10,894 | +€7,909 | +264.9% |
| Profit (loss) for the period | 9904 | €21,829 | €38,602 | +€16,773 | +76.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,829 | €38,602 | +€16,773 | +76.8% |
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 12 October 2026 via checked.be.