Q: what changed
Q
Largest movements
- Receivables within one year +€13,780
up €13,780 (+1,085%), from €1,270 to €15,050
of which Trade receivables: +€15,050
- Tangible fixed assets -€3,860
down €3,860 (-40.0%), from €9,660 to €5,801
of which Furniture and vehicles: -€4,260
- Cash +€3,309
up €3,309 (+33.6%), from €9,864 to €13,173
mainly Net result for the year (+€13,996) and Trade debts (+€6,334)
- Profit (loss) carried forward +€13,163
up €13,163 (+302%), from €4,354 to €17,518
- Trade debts +€6,334
up €6,334 (+8,446%), from €75 to €6,409
- Debts after one year -€4,909
no longer reported in 2025 (was €4,909)
- Tax, wage and social debts -€3,034
down €3,034 (-56.2%), from €5,400 to €2,365
of which Remuneration and social security: -€5,097
- Current portion of long-term debt +€1,647
up €1,647 (+50.5%), from €3,263 to €4,909
- Gross operating margin +€15,406
up €15,406 (+107%), from €14,377 to €29,782
- Staff costs +€3,991
new in 2025: €3,991
- Taxes +€1,830
up €1,830 (+55.7%), from €3,286 to €5,116
- Other operating charges +€596
up €596 (+108%), from €550 to €1,146
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 | €21,584 | €34,785 | +€13,201 | +61.2% |
| Fixed assets | 21/28 | €9,660 | €5,801 | -€3,860 | -40.0% |
| Tangible fixed assets | 22/27 | €9,660 | €5,801 | -€3,860 | -40.0% |
| Furniture and vehicles | 24 | €9,660 | €5,401 | -€4,260 | -44.1% |
| Assets under construction and advance payments | 27 | - | €400 | +€400 | |
| Current assets | 29/58 | €11,923 | €28,984 | +€17,060 | +143% |
| Amounts receivable within one year | 40/41 | €1,270 | €15,050 | +€13,780 | +1,085% |
| Trade receivables | 40 | - | €15,050 | +€15,050 | |
| Other amounts receivable | 41 | €1,270 | - | -€1,270 | |
| Cash at bank and in hand | 54/58 | €9,864 | €13,173 | +€3,309 | +33.6% |
| Deferred charges and accrued income | 490/1 | €789 | €760 | -€29 | -3.7% |
| Total equity and liabilities | 10/49 | €21,584 | €34,785 | +€13,201 | +61.2% |
| Equity | 10/15 | €7,354 | €20,518 | +€13,163 | +179% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,354 | €17,518 | +€13,163 | +302% |
| Amounts payable | 17/49 | €14,230 | €14,267 | +€37 | +0.3% |
| Amounts payable after more than one year | 17 | €4,909 | - | -€4,909 | |
| Financial debts | 170/4 | €4,909 | - | -€4,909 | |
| Amounts payable within one year | 42/48 | €9,320 | €14,267 | +€4,947 | +53.1% |
| Current portion of amounts payable after more than one year | 42 | €3,263 | €4,909 | +€1,647 | +50.5% |
| Trade debts | 44 | €75 | €6,409 | +€6,334 | +8,446% |
| Suppliers | 440/4 | €75 | €6,409 | +€6,334 | +8,446% |
| Taxes, remuneration and social security | 45 | €5,400 | €2,365 | -€3,034 | -56.2% |
| Taxes | 450/3 | €302 | €2,365 | +€2,063 | +682% |
| Remuneration and social security | 454/9 | €5,097 | - | -€5,097 | |
| Other amounts payable | 47/48 | €583 | €583 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €3,991 | +€3,991 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,830 | €4,830 | = | 0.0% |
| Other operating charges | 640/8 | €550 | €1,146 | +€596 | +108% |
| Gross operating margin | 9900 | €14,377 | €29,782 | +€15,406 | +107% |
| Operating profit (loss) | 9901 | €8,998 | €19,816 | +€10,818 | +120% |
| Financial income | 75/76B | - | €14 | +€14 | |
| Recurring financial income | 75 | - | €14 | +€14 | |
| Financial charges | 65/66B | €525 | €718 | +€193 | +36.7% |
| Recurring financial charges | 65 | €525 | €718 | +€193 | +36.7% |
| Profit (loss) for the period before taxes | 9903 | €8,473 | €19,112 | +€10,639 | +126% |
| Income taxes | 67/77 | €3,286 | €5,116 | +€1,830 | +55.7% |
| Profit (loss) for the period | 9904 | €5,187 | €13,996 | +€8,809 | +170% |
| Profit (loss) for the period to be appropriated | 9905 | €5,187 | €13,996 | +€8,809 | +170% |
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 7 November 2026 via checked.be.