D.EFFECTS: what changed
D.EFFECTS
Largest movements
- Receivables within one year +€41,266
up €41,266 (+495%), from €8,330 to €49,596
of which Trade receivables: +€37,802
- Cash +€5,788
up €5,788 (+27.0%), from €21,426 to €27,214
mainly Net result for the year (+€36,113) and Other debts (+€35,000)
- Tangible fixed assets -€2,041
down €2,041 (-16.1%), from €12,703 to €10,662
of which Other tangible fixed assets: -€3,128
- Other debts +€35,000
new in 2025: €35,000
- Tax, wage and social debts +€8,668
up €8,668, from €0 to €8,668
- Profit (loss) carried forward +€1,113
up €1,113, from -€771 to €342
- Gross operating margin +€60,217
up €60,217 (+979%), from €6,153 to €66,370
- Other operating charges +€14,086
up €14,086 (+1,848%), from €762 to €14,848
- Taxes +€9,163
up €9,163, from €0 to €9,163
- Depreciation +€865
up €865 (+16.2%), from €5,327 to €6,192
- Financial charges -€742
down €742 (-88.8%), from €835 to €94
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 | €42,491 | €87,504 | +€45,013 | +106% |
| Fixed assets | 21/28 | €12,703 | €10,662 | -€2,041 | -16.1% |
| Tangible fixed assets | 22/27 | €12,703 | €10,662 | -€2,041 | -16.1% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €1,262 | €0 | -€1,262 | -100% |
| Furniture and vehicles | 24 | €1,952 | €4,301 | +€2,349 | +120% |
| Other tangible fixed assets | 26 | €9,488 | €6,361 | -€3,128 | -33.0% |
| Current assets | 29/58 | €29,788 | €76,842 | +€47,054 | +158% |
| Amounts receivable within one year | 40/41 | €8,330 | €49,596 | +€41,266 | +495% |
| Trade receivables | 40 | €7,500 | €45,302 | +€37,802 | +504% |
| Other amounts receivable | 41 | €830 | €4,293 | +€3,463 | +417% |
| Cash at bank and in hand | 54/58 | €21,426 | €27,214 | +€5,788 | +27.0% |
| Deferred charges and accrued income | 490/1 | €32 | €32 | = | 0.0% |
| Total equity and liabilities | 10/49 | €42,491 | €87,504 | +€45,013 | +106% |
| Equity | 10/15 | €34,535 | €35,648 | +€1,113 | +3.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €30,306 | €30,306 | = | 0.0% |
| Distributable reserves | 133 | €30,306 | €30,306 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€771 | €342 | +€1,113 | |
| Amounts payable | 17/49 | €7,956 | €51,856 | +€43,901 | +552% |
| Amounts payable within one year | 42/48 | €664 | €44,387 | +€43,724 | +6,588% |
| Trade debts | 44 | €664 | €719 | +€55 | +8.3% |
| Suppliers | 440/4 | €664 | €719 | +€55 | +8.3% |
| Taxes, remuneration and social security | 45 | €0 | €8,668 | +€8,668 | |
| Taxes | 450/3 | €0 | €8,668 | +€8,668 | |
| Other amounts payable | 47/48 | - | €35,000 | +€35,000 | |
| Accrued charges and deferred income | 492/3 | €7,292 | €7,469 | +€177 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,327 | €6,192 | +€865 | +16.2% |
| Other operating charges | 640/8 | €762 | €14,848 | +€14,086 | +1,848% |
| Gross operating margin | 9900 | €6,153 | €66,370 | +€60,217 | +979% |
| Operating profit (loss) | 9901 | €64 | €45,330 | +€45,266 | +70,540% |
| Financial income | 75/76B | €0 | €39 | +€39 | +19,620% |
| Recurring financial income | 75 | €0 | €39 | +€39 | +19,620% |
| Financial charges | 65/66B | €835 | €94 | -€742 | -88.8% |
| Recurring financial charges | 65 | €835 | €94 | -€742 | -88.8% |
| Profit (loss) for the period before taxes | 9903 | -€771 | €45,276 | +€46,047 | |
| Income taxes | 67/77 | €0 | €9,163 | +€9,163 | |
| Profit (loss) for the period | 9904 | -€771 | €36,113 | +€36,884 | |
| Profit (loss) for the period to be appropriated | 9905 | -€771 | €36,113 | +€36,884 |
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 4 November 2026 via checked.be.