14: what changed
Two fiscal 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.
14
Largest movements
- Cash -€27,333
down €27,333 (-55.1%), from €49,575 to €22,242
mainly Tax, wage and social debts (-€23,300) and Other debts (-€16,978)
- Receivables within one year +€15,896
up €15,896 (+50.9%), from €31,236 to €47,132
of which Other amounts receivable: +€19,708
- Tangible fixed assets -€1,387
down €1,387 (-50.6%), from €2,745 to €1,357
of which Furniture and vehicles: -€1,387
- Deferred charges and accrued income -€1,274
down €1,274 (-76.1%), from €1,674 to €400
- Tax, wage and social debts -€23,300
down €23,300 (-64.1%), from €36,329 to €13,029
- Reserves +€22,347
up €22,347 (+316.2%), from €7,068 to €29,415
- Other debts -€16,978
down €16,978 (-100.0%), from €16,978 to €0
- Short-term financial debts +€8,669
up €8,669 (+519.0%), from €1,670 to €10,339
- Trade debts -€4,837
down €4,837 (-90.7%), from €5,336 to €499
- Taxes -€4,834
down €4,834 (-29.9%), from €16,141 to €11,307
- Financial charges +€1,668
up €1,668 (+253.6%), from €658 to €2,326
- Financial income -€1,183
down €1,183 (-78.5%), from €1,508 to €325
- Gross operating margin +€1,015
up €1,015 (+2.4%), from €42,485 to €43,500
- Other operating charges -€940
down €940 (-29.9%), from €3,140 to €2,199
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.
Cash bridge derived
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 | €85,980 | €71,882 | -€14,098 | -16.4% |
| Fixed assets | 21/28 | €3,495 | €2,107 | -€1,387 | -39.7% |
| Tangible fixed assets | 22/27 | €2,745 | €1,357 | -€1,387 | -50.6% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €2,745 | €1,357 | -€1,387 | -50.6% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €82,486 | €69,775 | -€12,711 | -15.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €31,236 | €47,132 | +€15,896 | +50.9% |
| Trade receivables | 40 | €30,418 | €26,606 | -€3,812 | -12.5% |
| Other amounts receivable | 41 | €818 | €20,527 | +€19,708 | +2407.9% |
| Cash at bank and in hand | 54/58 | €49,575 | €22,242 | -€27,333 | -55.1% |
| Deferred charges and accrued income | 490/1 | €1,674 | €400 | -€1,274 | -76.1% |
| Total equity and liabilities | 10/49 | €85,980 | €71,882 | -€14,098 | -16.4% |
| Equity | 10/15 | €25,668 | €48,015 | +€22,347 | +87.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,068 | €29,415 | +€22,347 | +316.2% |
| Distributable reserves | 133 | €7,068 | €29,415 | +€22,347 | +316.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €60,312 | €23,867 | -€36,446 | -60.4% |
| Amounts payable within one year | 42/48 | €60,312 | €23,867 | -€36,446 | -60.4% |
| Financial debts | 43 | €1,670 | €10,339 | +€8,669 | +519.0% |
| Credit institutions | 430/8 | €1,670 | €10,339 | +€8,669 | +519.0% |
| Trade debts | 44 | €5,336 | €499 | -€4,837 | -90.7% |
| Suppliers | 440/4 | €5,336 | €499 | -€4,837 | -90.7% |
| Taxes, remuneration and social security | 45 | €36,329 | €13,029 | -€23,300 | -64.1% |
| Taxes | 450/3 | €36,329 | €13,029 | -€23,300 | -64.1% |
| Other amounts payable | 47/48 | €16,978 | €0 | -€16,978 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,781 | €1,387 | -€393 | -22.1% |
| Other operating charges | 640/8 | €3,140 | €2,199 | -€940 | -29.9% |
| Gross operating margin | 9900 | €42,485 | €43,500 | +€1,015 | +2.4% |
| Operating profit (loss) | 9901 | €37,565 | €39,913 | +€2,349 | +6.3% |
| Financial income | 75/76B | €1,508 | €325 | -€1,183 | -78.5% |
| Recurring financial income | 75 | €1,508 | €325 | -€1,183 | -78.5% |
| Financial charges | 65/66B | €658 | €2,326 | +€1,668 | +253.6% |
| Recurring financial charges | 65 | €658 | €2,326 | +€1,668 | +253.6% |
| Profit (loss) for the period before taxes | 9903 | €38,415 | €37,912 | -€503 | -1.3% |
| Income taxes | 67/77 | €16,141 | €11,307 | -€4,834 | -29.9% |
| Profit (loss) for the period | 9904 | €22,274 | €26,605 | +€4,331 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,274 | €26,605 | +€4,331 | +19.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.