X Y Z: 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 Y Z
Largest movements
- Receivables within one year -€12,488
down €12,488 (-40.0%), from €31,211 to €18,723
of which Other amounts receivable: -€11,212
- Cash +€11,636
up €11,636 (+14.7%), from €79,206 to €90,842
mainly Receivables within one year (+€12,488) and Depreciation (+€12,001)
- Tangible fixed assets +€8,761
up €8,761 (+17.0%), from €51,482 to €60,243
of which Other tangible fixed assets: +€4,722
- Stocks and contracts +€2,516
up €2,516 (+7.7%), from €32,495 to €35,011
- Reserves +€10,500
up €10,500 (+10.8%), from €97,282 to €107,782
of which Distributable reserves: +€10,500
- Trade debts -€7,222
down €7,222 (-32.0%), from €22,548 to €15,325
- Tax, wage and social debts +€6,505
up €6,505 (+12.0%), from €53,995 to €60,500
of which Remuneration and social security: +€3,811
- Staff costs +€55,231
up €55,231 (+15.7%), from €351,854 to €407,085
- Gross operating margin +€40,123
up €40,123 (+9.9%), from €404,198 to €444,321
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 | €204,358 | €214,115 | +€9,758 | +4.8% |
| Formation expenses | 20 | €3,000 | €2,750 | -€250 | -8.3% |
| Fixed assets | 21/28 | €55,666 | €64,427 | +€8,761 | +15.7% |
| Intangible fixed assets | 21 | €868 | €868 | = | 0.0% |
| Tangible fixed assets | 22/27 | €51,482 | €60,243 | +€8,761 | +17.0% |
| Plant, machinery and equipment | 23 | €2,006 | €1,436 | -€570 | -28.4% |
| Furniture and vehicles | 24 | €3,370 | €7,979 | +€4,609 | +137% |
| Other tangible fixed assets | 26 | €46,106 | €50,828 | +€4,722 | +10.2% |
| Financial fixed assets | 28 | €3,317 | €3,317 | = | 0.0% |
| Current assets | 29/58 | €145,692 | €146,938 | +€1,246 | +0.9% |
| Stocks and contracts in progress | 3 | €32,495 | €35,011 | +€2,516 | +7.7% |
| Stocks | 30/36 | €32,495 | €35,011 | +€2,516 | +7.7% |
| Amounts receivable within one year | 40/41 | €31,211 | €18,723 | -€12,488 | -40.0% |
| Trade receivables | 40 | €18,827 | €17,550 | -€1,276 | -6.8% |
| Other amounts receivable | 41 | €12,385 | €1,173 | -€11,212 | -90.5% |
| Cash at bank and in hand | 54/58 | €79,206 | €90,842 | +€11,636 | +14.7% |
| Deferred charges and accrued income | 490/1 | €2,780 | €2,362 | -€418 | -15.0% |
| Total equity and liabilities | 10/49 | €204,358 | €214,115 | +€9,758 | +4.8% |
| Equity | 10/15 | €117,036 | €127,542 | +€10,506 | +9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €97,282 | €107,782 | +€10,500 | +10.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,600 | €3,600 | = | 0.0% |
| Distributable reserves | 133 | €91,822 | €102,322 | +€10,500 | +11.4% |
| Profit (loss) carried forward | 14 | €1,154 | €1,160 | +€6 | +0.6% |
| Amounts payable | 17/49 | €87,322 | €86,573 | -€749 | -0.9% |
| Amounts payable after more than one year | 17 | €8,722 | €6,840 | -€1,883 | -21.6% |
| Other amounts payable | 178/9 | €8,722 | €6,840 | -€1,883 | -21.6% |
| Amounts payable within one year | 42/48 | €78,600 | €79,734 | +€1,134 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €2,057 | €2,045 | -€12 | -0.6% |
| Trade debts | 44 | €22,548 | €15,325 | -€7,222 | -32.0% |
| Suppliers | 440/4 | €22,548 | €15,325 | -€7,222 | -32.0% |
| Taxes, remuneration and social security | 45 | €53,995 | €60,500 | +€6,505 | +12.0% |
| Taxes | 450/3 | €10,098 | €12,792 | +€2,694 | +26.7% |
| Remuneration and social security | 454/9 | €43,897 | €47,708 | +€3,811 | +8.7% |
| Other amounts payable | 47/48 | - | €1,863 | +€1,863 | |
| Remuneration, social security and pensions | 62 | €351,854 | €407,085 | +€55,231 | +15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,994 | €12,001 | +€1,008 | +9.2% |
| Other operating charges | 640/8 | €3,329 | €3,283 | -€46 | -1.4% |
| Gross operating margin | 9900 | €404,198 | €444,321 | +€40,123 | +9.9% |
| Operating profit (loss) | 9901 | €38,022 | €21,952 | -€16,069 | -42.3% |
| Financial income | 75/76B | €212 | €57 | -€155 | -73.2% |
| Recurring financial income | 75 | €212 | €57 | -€155 | -73.2% |
| Financial charges | 65/66B | €7,978 | €6,670 | -€1,308 | -16.4% |
| Recurring financial charges | 65 | €7,978 | €6,670 | -€1,308 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | €30,255 | €15,339 | -€14,916 | -49.3% |
| Income taxes | 67/77 | €7,169 | €4,833 | -€2,336 | -32.6% |
| Profit (loss) for the period | 9904 | €23,086 | €10,506 | -€12,579 | -54.5% |
| Profit (loss) for the period to be appropriated | 9905 | €23,086 | €10,506 | -€12,579 | -54.5% |
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 27 October 2026 via checked.be.