Written by: 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.
Written by
Largest movements
- Tangible fixed assets +€112,637
up €112,637 (+22,722%), from €496 to €113,133
of which Other tangible fixed assets: +€113,133
- Receivables within one year +€19,306
up €19,306 (+208%), from €9,294 to €28,600
of which Trade receivables: +€19,306
- Cash -€16,390
down €16,390 (-91.7%), from €17,873 to €1,483
mainly Investment in fixed assets (net) (-€113,600) and Receivables within one year (-€19,306)
- Other debts +€106,822
up €106,822 (+811%), from €13,172 to €119,994
- Reserves +€3,789
up €3,789 (+66.1%), from €5,729 to €9,518
- Trade debts +€3,425
up €3,425 (+416%), from €823 to €4,249
- Tax, wage and social debts +€1,726
up €1,726 (+134%), from €1,284 to €3,010
- Gross operating margin +€14,981
up €14,981 (+337%), from €4,444 to €19,425
- Other operating charges +€13,749
up €13,749 (+2,844%), from €484 to €14,233
- Depreciation -€4,347
down €4,347 (-81.9%), from €5,310 to €963
- Taxes +€379
up €379, from €0 to €379
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 | €27,663 | €143,216 | +€115,553 | +418% |
| Fixed assets | 21/28 | €496 | €113,133 | +€112,637 | +22,722% |
| Tangible fixed assets | 22/27 | €496 | €113,133 | +€112,637 | +22,722% |
| Furniture and vehicles | 24 | €496 | €0 | -€496 | -100% |
| Other tangible fixed assets | 26 | - | €113,133 | +€113,133 | |
| Current assets | 29/58 | €27,167 | €30,083 | +€2,915 | +10.7% |
| Amounts receivable within one year | 40/41 | €9,294 | €28,600 | +€19,306 | +208% |
| Trade receivables | 40 | €9,294 | €28,600 | +€19,306 | +208% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €17,873 | €1,483 | -€16,390 | -91.7% |
| Total equity and liabilities | 10/49 | €27,663 | €143,216 | +€115,553 | +418% |
| Equity | 10/15 | €12,174 | €15,963 | +€3,789 | +31.1% |
| Contributions | 10/11 | €6,445 | €6,445 | = | 0.0% |
| Reserves | 13 | €5,729 | €9,518 | +€3,789 | +66.1% |
| Distributable reserves | 133 | €5,729 | €9,518 | +€3,789 | +66.1% |
| Amounts payable | 17/49 | €15,489 | €127,253 | +€111,764 | +722% |
| Amounts payable within one year | 42/48 | €15,280 | €127,253 | +€111,973 | +733% |
| Trade debts | 44 | €823 | €4,249 | +€3,425 | +416% |
| Suppliers | 440/4 | €823 | €4,249 | +€3,425 | +416% |
| Taxes, remuneration and social security | 45 | €1,284 | €3,010 | +€1,726 | +134% |
| Taxes | 450/3 | €1,284 | €3,010 | +€1,726 | +134% |
| Other amounts payable | 47/48 | €13,172 | €119,994 | +€106,822 | +811% |
| Accrued charges and deferred income | 492/3 | €209 | €0 | -€209 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,310 | €963 | -€4,347 | -81.9% |
| Other operating charges | 640/8 | €484 | €14,233 | +€13,749 | +2,844% |
| Gross operating margin | 9900 | €4,444 | €19,425 | +€14,981 | +337% |
| Operating profit (loss) | 9901 | -€1,350 | €4,229 | +€5,579 | |
| Financial income | 75/76B | - | €19 | +€19 | |
| Recurring financial income | 75 | - | €19 | +€19 | |
| Financial charges | 65/66B | €61 | €81 | +€20 | +32.4% |
| Recurring financial charges | 65 | €61 | €81 | +€20 | +32.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,411 | €4,168 | +€5,579 | |
| Income taxes | 67/77 | €0 | €379 | +€379 | |
| Profit (loss) for the period | 9904 | -€1,411 | €3,789 | +€5,200 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,411 | €3,789 | +€5,200 |
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 14 October 2026 via checked.be.