Chapter 7: 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.
Chapter 7
Largest movements
- Cash +€21,853
up €21,853 (+84.0%), from €26,026 to €47,879
mainly Net result for the year (+€19,417) and Tax, wage and social debts (+€1,946)
- Receivables within one year +€1,023
up €1,023 (+11.7%), from €8,773 to €9,796
of which Other amounts receivable: +€673
- Reserves +€19,417
new in 2025: €19,417
- Tax, wage and social debts +€1,946
up €1,946 (+16.7%), from €11,684 to €13,630
of which Taxes: +€2,048
- Trade debts +€1,289
up €1,289 (+76.5%), from €1,684 to €2,972
- Gross operating margin +€4,216
up €4,216 (+15.2%), from €27,689 to €31,905
- Taxes +€2,667
up €2,667 (+43.3%), from €6,162 to €8,829
- Financial charges +€491
up €491 (+28.7%), from €1,708 to €2,199
- Depreciation +€389
up €389 (+39.2%), from €991 to €1,380
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 | €37,654 | €60,186 | +€22,532 | +59.8% |
| Fixed assets | 21/28 | €1,849 | €1,556 | -€293 | -15.9% |
| Tangible fixed assets | 22/27 | €1,849 | €1,556 | -€293 | -15.9% |
| Furniture and vehicles | 24 | €1,849 | €1,556 | -€293 | -15.9% |
| Current assets | 29/58 | €35,805 | €58,630 | +€22,825 | +63.7% |
| Amounts receivable within one year | 40/41 | €8,773 | €9,796 | +€1,023 | +11.7% |
| Trade receivables | 40 | €8,773 | €9,123 | +€351 | +4.0% |
| Other amounts receivable | 41 | - | €673 | +€673 | |
| Cash at bank and in hand | 54/58 | €26,026 | €47,879 | +€21,853 | +84.0% |
| Deferred charges and accrued income | 490/1 | €1,007 | €956 | -€51 | -5.1% |
| Total equity and liabilities | 10/49 | €37,654 | €60,186 | +€22,532 | +59.8% |
| Equity | 10/15 | €24,167 | €43,584 | +€19,417 | +80.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €19,417 | +€19,417 | |
| Distributable reserves | 133 | - | €19,417 | +€19,417 | |
| Profit (loss) carried forward | 14 | €21,667 | €21,667 | = | 0.0% |
| Amounts payable | 17/49 | €13,487 | €16,602 | +€3,115 | +23.1% |
| Amounts payable within one year | 42/48 | €13,487 | €16,602 | +€3,115 | +23.1% |
| Trade debts | 44 | €1,684 | €2,972 | +€1,289 | +76.5% |
| Suppliers | 440/4 | €1,684 | €2,972 | +€1,289 | +76.5% |
| Taxes, remuneration and social security | 45 | €11,684 | €13,630 | +€1,946 | +16.7% |
| Taxes | 450/3 | €9,457 | €11,505 | +€2,048 | +21.7% |
| Remuneration and social security | 454/9 | €2,226 | €2,124 | -€102 | -4.6% |
| Other amounts payable | 47/48 | €120 | - | -€120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €991 | €1,380 | +€389 | +39.2% |
| Other operating charges | 640/8 | - | €80 | +€80 | |
| Gross operating margin | 9900 | €27,689 | €31,905 | +€4,216 | +15.2% |
| Operating profit (loss) | 9901 | €26,698 | €30,445 | +€3,747 | +14.0% |
| Financial charges | 65/66B | €1,708 | €2,199 | +€491 | +28.7% |
| Recurring financial charges | 65 | €1,708 | €2,199 | +€491 | +28.7% |
| Profit (loss) for the period before taxes | 9903 | €24,990 | €28,246 | +€3,257 | +13.0% |
| Income taxes | 67/77 | €6,162 | €8,829 | +€2,667 | +43.3% |
| Profit (loss) for the period | 9904 | €18,827 | €19,417 | +€590 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,827 | €19,417 | +€590 | +3.1% |
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 14 October 2026 via checked.be.