ANALYSE +: 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.
ANALYSE +
Largest movements
- Cash +€90,010
up €90,010 (+82.8%), from €108,761 to €198,771
mainly Net result for the year (+€69,256) and Other debts (+€44,300)
- Receivables within one year +€19,847
up €19,847 (+282%), from €7,040 to €26,887
of which Other amounts receivable: +€20,090
- Tangible fixed assets -€8,420
down €8,420 (-27.3%), from €30,805 to €22,385
of which Leasing and similar rights: -€9,214
- Other debts +€44,300
up €44,300 (+301%), from €14,700 to €59,000
- Tax, wage and social debts +€23,375
up €23,375 (+80.3%), from €29,124 to €52,498
- Short-term financial debts +€20,000
new in 2025: €20,000
- Reserves +€10,256
up €10,256 (+17.2%), from €59,763 to €70,020
- Accrued charges and deferred income +€10,031
up €10,031 (+2,391%), from €420 to €10,450
- Gross operating margin +€14,149
up €14,149 (+15.5%), from €91,106 to €105,255
- Taxes +€3,432
up €3,432 (+17.0%), from €20,238 to €23,670
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 | €147,474 | €249,927 | +€102,453 | +69.5% |
| Fixed assets | 21/28 | €30,805 | €22,385 | -€8,420 | -27.3% |
| Tangible fixed assets | 22/27 | €30,805 | €22,385 | -€8,420 | -27.3% |
| Furniture and vehicles | 24 | €916 | €1,710 | +€794 | +86.7% |
| Leasing and similar rights | 25 | €29,889 | €20,675 | -€9,214 | -30.8% |
| Current assets | 29/58 | €116,669 | €227,543 | +€110,873 | +95.0% |
| Amounts receivable within one year | 40/41 | €7,040 | €26,887 | +€19,847 | +282% |
| Trade receivables | 40 | €6,358 | €6,115 | -€243 | -3.8% |
| Other amounts receivable | 41 | €682 | €20,772 | +€20,090 | +2,946% |
| Cash at bank and in hand | 54/58 | €108,761 | €198,771 | +€90,010 | +82.8% |
| Deferred charges and accrued income | 490/1 | €869 | €1,885 | +€1,017 | +117% |
| Total equity and liabilities | 10/49 | €147,474 | €249,927 | +€102,453 | +69.5% |
| Equity | 10/15 | €64,763 | €75,020 | +€10,256 | +15.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €59,763 | €70,020 | +€10,256 | +17.2% |
| Distributable reserves | 133 | €59,763 | €70,020 | +€10,256 | +17.2% |
| Amounts payable | 17/49 | €82,711 | €174,908 | +€92,197 | +111% |
| Amounts payable after more than one year | 17 | €21,398 | €11,813 | -€9,586 | -44.8% |
| Financial debts | 170/4 | €21,398 | €11,813 | -€9,586 | -44.8% |
| Amounts payable within one year | 42/48 | €60,893 | €152,645 | +€91,752 | +151% |
| Current portion of amounts payable after more than one year | 42 | €9,114 | €9,586 | +€472 | +5.2% |
| Financial debts | 43 | - | €20,000 | +€20,000 | |
| Credit institutions | 430/8 | - | €20,000 | +€20,000 | |
| Trade debts | 44 | €7,456 | €11,561 | +€4,106 | +55.1% |
| Suppliers | 440/4 | €7,456 | €11,561 | +€4,106 | +55.1% |
| Advances received on contracts in progress | 46 | €500 | - | -€500 | |
| Taxes, remuneration and social security | 45 | €29,124 | €52,498 | +€23,375 | +80.3% |
| Taxes | 450/3 | €29,124 | €52,498 | +€23,375 | +80.3% |
| Other amounts payable | 47/48 | €14,700 | €59,000 | +€44,300 | +301% |
| Accrued charges and deferred income | 492/3 | €420 | €10,450 | +€10,031 | +2,391% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,582 | €9,766 | +€184 | +1.9% |
| Other operating charges | 640/8 | €212 | €845 | +€632 | +298% |
| Gross operating margin | 9900 | €91,106 | €105,255 | +€14,149 | +15.5% |
| Operating profit (loss) | 9901 | €81,311 | €94,644 | +€13,333 | +16.4% |
| Financial income | 75/76B | €9 | €0 | -€9 | -95.1% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -95.1% |
| Financial charges | 65/66B | €1,955 | €1,719 | -€236 | -12.1% |
| Recurring financial charges | 65 | €1,955 | €1,719 | -€236 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €79,366 | €92,926 | +€13,560 | +17.1% |
| Income taxes | 67/77 | €20,238 | €23,670 | +€3,432 | +17.0% |
| Profit (loss) for the period | 9904 | €59,128 | €69,256 | +€10,128 | +17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €59,128 | €69,256 | +€10,128 | +17.1% |
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 30 October 2026 via checked.be.