Objectivum: what changed
Objectivum
Largest movements
- Receivables within one year +€22,405
up €22,405 (+333%), from €6,730 to €29,135
of which Trade receivables: +€26,365
- Cash +€10,116
up €10,116 (+23.9%), from €42,346 to €52,462
mainly Net result for the year (+€30,334) and Tax, wage and social debts (+€2,558)
- Tangible fixed assets +€1,766
up €1,766 (+48.9%), from €3,614 to €5,380
of which Other tangible fixed assets: +€2,617
- Reserves +€30,334
up €30,334 (+73.7%), from €41,159 to €71,492
- Tax, wage and social debts +€2,558
up €2,558 (+22.5%), from €11,350 to €13,908
- Trade debts +€1,120
up €1,120 (+620%), from €181 to €1,301
- Taxes +€3,560
up €3,560 (+75.2%), from €4,733 to €8,293
- Gross operating margin -€1,629
down €1,629 (-3.8%), from €42,521 to €40,892
- Financial income -€1,545
no longer reported in 2025 (was €1,545)
- Depreciation -€1,074
down €1,074 (-36.7%), from €2,926 to €1,851
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €52,690 | €87,432 | +€34,742 | +65.9% |
| Fixed assets | 21/28 | €3,614 | €5,380 | +€1,766 | +48.9% |
| Tangible fixed assets | 22/27 | €3,614 | €5,380 | +€1,766 | +48.9% |
| Plant, machinery and equipment | 23 | €3,614 | €2,763 | -€852 | -23.6% |
| Other tangible fixed assets | 26 | - | €2,617 | +€2,617 | |
| Current assets | 29/58 | €49,076 | €82,052 | +€32,976 | +67.2% |
| Amounts receivable within one year | 40/41 | €6,730 | €29,135 | +€22,405 | +333% |
| Trade receivables | 40 | - | €26,365 | +€26,365 | |
| Other amounts receivable | 41 | €6,730 | €2,769 | -€3,961 | -58.9% |
| Cash at bank and in hand | 54/58 | €42,346 | €52,462 | +€10,116 | +23.9% |
| Deferred charges and accrued income | 490/1 | - | €456 | +€456 | |
| Total equity and liabilities | 10/49 | €52,690 | €87,432 | +€34,742 | +65.9% |
| Equity | 10/15 | €41,160 | €71,493 | +€30,334 | +73.7% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €41,159 | €71,492 | +€30,334 | +73.7% |
| Distributable reserves | 133 | €41,159 | €71,492 | +€30,334 | +73.7% |
| Amounts payable | 17/49 | €11,531 | €15,939 | +€4,408 | +38.2% |
| Amounts payable within one year | 42/48 | €11,531 | €15,939 | +€4,408 | +38.2% |
| Trade debts | 44 | €181 | €1,301 | +€1,120 | +620% |
| Suppliers | 440/4 | €181 | €1,301 | +€1,120 | +620% |
| Taxes, remuneration and social security | 45 | €11,350 | €13,908 | +€2,558 | +22.5% |
| Taxes | 450/3 | €11,350 | €13,908 | +€2,558 | +22.5% |
| Other amounts payable | 47/48 | - | €730 | +€730 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,926 | €1,851 | -€1,074 | -36.7% |
| Other operating charges | 640/8 | - | €7 | +€7 | |
| Gross operating margin | 9900 | €42,521 | €40,892 | -€1,629 | -3.8% |
| Operating profit (loss) | 9901 | €39,596 | €39,034 | -€562 | -1.4% |
| Financial income | 75/76B | €1,545 | - | -€1,545 | |
| Recurring financial income | 75 | €1,545 | - | -€1,545 | |
| Financial charges | 65/66B | €532 | €407 | -€125 | -23.5% |
| Recurring financial charges | 65 | €532 | €407 | -€125 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €40,610 | €38,627 | -€1,983 | -4.9% |
| Income taxes | 67/77 | €4,733 | €8,293 | +€3,560 | +75.2% |
| Profit (loss) for the period | 9904 | €35,877 | €30,334 | -€5,543 | -15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,877 | €30,334 | -€5,543 | -15.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.