WS: 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.
WS
Largest movements
- Cash +€21,706
up €21,706 (+57.1%), from €37,998 to €59,703
mainly Net result for the year (+€25,711) and Depreciation (+€6,275)
- Tangible fixed assets -€6,275
down €6,275 (-34.3%), from €18,288 to €12,013
- Receivables within one year +€2,491
up €2,491 (+35.3%), from €7,057 to €9,548
of which Trade receivables: +€2,462
- Reserves +€25,711
up €25,711 (+76.2%), from €33,720 to €59,430
- Other debts -€5,449
down €5,449 (-99.4%), from €5,481 to €32
- Tax, wage and social debts -€3,196
down €3,196 (-13.3%), from €24,099 to €20,903
- Trade debts +€859
up €859 (+1,284%), from €67 to €926
- Depreciation +€5,737
up €5,737 (+1,067%), from €538 to €6,275
- Gross operating margin -€3,276
down €3,276 (-7.5%), from €43,446 to €40,170
- Taxes -€1,055
down €1,055 (-12.4%), from €8,526 to €7,471
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 | €64,367 | €82,291 | +€17,924 | +27.8% |
| Fixed assets | 21/28 | €18,288 | €12,013 | -€6,275 | -34.3% |
| Tangible fixed assets | 22/27 | €18,288 | €12,013 | -€6,275 | -34.3% |
| Furniture and vehicles | 24 | €18,288 | €12,013 | -€6,275 | -34.3% |
| Current assets | 29/58 | €46,079 | €70,278 | +€24,199 | +52.5% |
| Amounts receivable within one year | 40/41 | €7,057 | €9,548 | +€2,491 | +35.3% |
| Trade receivables | 40 | €7,057 | €9,519 | +€2,462 | +34.9% |
| Other amounts receivable | 41 | - | €29 | +€29 | |
| Cash at bank and in hand | 54/58 | €37,998 | €59,703 | +€21,706 | +57.1% |
| Deferred charges and accrued income | 490/1 | €1,024 | €1,026 | +€2 | +0.2% |
| Total equity and liabilities | 10/49 | €64,367 | €82,291 | +€17,924 | +27.8% |
| Equity | 10/15 | €34,720 | €60,430 | +€25,711 | +74.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €33,720 | €59,430 | +€25,711 | +76.2% |
| Distributable reserves | 133 | €33,720 | €59,430 | +€25,711 | +76.2% |
| Amounts payable | 17/49 | €29,647 | €21,860 | -€7,787 | -26.3% |
| Amounts payable within one year | 42/48 | €29,647 | €21,860 | -€7,787 | -26.3% |
| Trade debts | 44 | €67 | €926 | +€859 | +1,284% |
| Suppliers | 440/4 | €67 | €926 | +€859 | +1,284% |
| Taxes, remuneration and social security | 45 | €24,099 | €20,903 | -€3,196 | -13.3% |
| Taxes | 450/3 | €24,099 | €20,903 | -€3,196 | -13.3% |
| Other amounts payable | 47/48 | €5,481 | €32 | -€5,449 | -99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €538 | €6,275 | +€5,737 | +1,067% |
| Other operating charges | 640/8 | €659 | €527 | -€132 | -20.0% |
| Gross operating margin | 9900 | €43,446 | €40,170 | -€3,276 | -7.5% |
| Operating profit (loss) | 9901 | €42,249 | €33,367 | -€8,882 | -21.0% |
| Financial charges | 65/66B | €4 | €186 | +€182 | +4,855% |
| Recurring financial charges | 65 | €4 | €186 | +€182 | +4,855% |
| Profit (loss) for the period before taxes | 9903 | €42,245 | €33,181 | -€9,064 | -21.5% |
| Income taxes | 67/77 | €8,526 | €7,471 | -€1,055 | -12.4% |
| Profit (loss) for the period | 9904 | €33,720 | €25,711 | -€8,009 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €33,720 | €25,711 | -€8,009 | -23.8% |
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 19 October 2026 via checked.be.