X. LI: 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.
X. LI
Largest movements
- Receivables within one year +€94,006
up €94,006 (+181%), from €51,923 to €145,929
of which Other amounts receivable: +€103,935
- Cash +€11,770
up €11,770 (+655%), from €1,798 to €13,568
mainly Other debts (+€59,232) and Net result for the year (+€34,882)
- Other debts +€59,232
up €59,232 (+219%), from €26,996 to €86,229
- Reserves +€34,882
up €34,882 (+33.5%), from €104,092 to €138,974
- Tax, wage and social debts +€12,189
up €12,189 (+81.2%), from €15,020 to €27,210
- Gross operating margin +€13,342
up €13,342 (+68.8%), from €19,405 to €32,747
- Financial income -€12,614
down €12,614 (-46.0%), from €27,432 to €14,819
- Taxes +€5,118
up €5,118 (+109%), from €4,714 to €9,832
- Other operating charges +€1,402
up €1,402 (+362%), from €387 to €1,789
- Financial charges +€335
up €335 (+204%), from €164 to €499
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 | €150,897 | €256,317 | +€105,420 | +69.9% |
| Fixed assets | 21/28 | €97,177 | €96,820 | -€356 | -0.4% |
| Tangible fixed assets | 22/27 | €1,677 | €1,320 | -€356 | -21.2% |
| Plant, machinery and equipment | 23 | €1,677 | €1,320 | -€356 | -21.2% |
| Financial fixed assets | 28 | €95,500 | €95,500 | = | 0.0% |
| Current assets | 29/58 | €53,720 | €159,496 | +€105,776 | +197% |
| Amounts receivable within one year | 40/41 | €51,923 | €145,929 | +€94,006 | +181% |
| Trade receivables | 40 | €18,656 | €8,727 | -€9,929 | -53.2% |
| Other amounts receivable | 41 | €33,267 | €137,202 | +€103,935 | +312% |
| Cash at bank and in hand | 54/58 | €1,798 | €13,568 | +€11,770 | +655% |
| Total equity and liabilities | 10/49 | €150,897 | €256,317 | +€105,420 | +69.9% |
| Equity | 10/15 | €106,592 | €141,474 | +€34,882 | +32.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €104,092 | €138,974 | +€34,882 | +33.5% |
| Distributable reserves | 133 | €104,092 | €138,974 | +€34,882 | +33.5% |
| Amounts payable | 17/49 | €44,305 | €114,843 | +€70,538 | +159% |
| Amounts payable within one year | 42/48 | €44,305 | €114,843 | +€70,538 | +159% |
| Trade debts | 44 | €2,289 | €1,405 | -€884 | -38.6% |
| Suppliers | 440/4 | €2,289 | €1,405 | -€884 | -38.6% |
| Taxes, remuneration and social security | 45 | €15,020 | €27,210 | +€12,189 | +81.2% |
| Taxes | 450/3 | €15,020 | €27,210 | +€12,189 | +81.2% |
| Other amounts payable | 47/48 | €26,996 | €86,229 | +€59,232 | +219% |
| Remuneration, social security and pensions | 62 | - | €208 | +€208 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105 | €356 | +€252 | +240% |
| Other operating charges | 640/8 | €387 | €1,789 | +€1,402 | +362% |
| Gross operating margin | 9900 | €19,405 | €32,747 | +€13,342 | +68.8% |
| Operating profit (loss) | 9901 | €18,913 | €30,394 | +€11,481 | +60.7% |
| Financial income | 75/76B | €27,432 | €14,819 | -€12,614 | -46.0% |
| Recurring financial income | 75 | €27,432 | €14,819 | -€12,614 | -46.0% |
| Financial charges | 65/66B | €164 | €499 | +€335 | +204% |
| Recurring financial charges | 65 | €164 | €499 | +€335 | +204% |
| Profit (loss) for the period before taxes | 9903 | €46,181 | €44,714 | -€1,467 | -3.2% |
| Income taxes | 67/77 | €4,714 | €9,832 | +€5,118 | +109% |
| Profit (loss) for the period | 9904 | €41,467 | €34,882 | -€6,585 | -15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €41,467 | €34,882 | -€6,585 | -15.9% |
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 16 October 2026 via checked.be.