16M: 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.
16M
Largest movements
- Cash -€6,389
down €6,389 (-97.7%), from €6,540 to €151
mainly Net result for the year (-€24,849) and Tax, wage and social debts (-€1,816)
- Profit (loss) carried forward -€24,849
down €24,849 (-14.5%), from -€170,862 to -€195,711
- Other debts +€15,550
up €15,550 (+3.8%), from €404,751 to €420,301
- Gross operating margin -€26,691
down €26,691, from €6,475 to -€20,216
- Depreciation -€3,250
down €3,250 (-54.1%), from €6,010 to €2,760
- Financial charges +€702
up €702 (+453.1%), from €155 to €857
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 | €269,103 | €259,842 | -€9,261 | -3.4% |
| Fixed assets | 21/28 | €4,358 | €1,598 | -€2,760 | -63.3% |
| Intangible fixed assets | 21 | €2,364 | €1,329 | -€1,035 | -43.8% |
| Tangible fixed assets | 22/27 | €1,994 | €268 | -€1,725 | -86.5% |
| Furniture and vehicles | 24 | €1,994 | €268 | -€1,725 | -86.5% |
| Current assets | 29/58 | €264,746 | €258,244 | -€6,502 | -2.5% |
| Amounts receivable after more than one year | 29 | €12,500 | €12,500 | = | 0.0% |
| Other amounts receivable | 291 | €12,500 | €12,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €245,608 | €245,593 | -€15 | 0.0% |
| Trade receivables | 40 | €245,485 | €243,879 | -€1,606 | -0.7% |
| Other amounts receivable | 41 | €123 | €1,713 | +€1,590 | +1294.8% |
| Cash at bank and in hand | 54/58 | €6,540 | €151 | -€6,389 | -97.7% |
| Deferred charges and accrued income | 490/1 | €98 | €0 | -€98 | -100.0% |
| Total equity and liabilities | 10/49 | €269,103 | €259,842 | -€9,261 | -3.4% |
| Equity | 10/15 | -€141,619 | -€166,467 | -€24,849 | -17.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,643 | €10,643 | = | 0.0% |
| Distributable reserves | 133 | €10,643 | €10,643 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€170,862 | -€195,711 | -€24,849 | -14.5% |
| Amounts payable | 17/49 | €410,722 | €426,309 | +€15,587 | +3.8% |
| Amounts payable within one year | 42/48 | €410,722 | €425,909 | +€15,188 | +3.7% |
| Financial debts | 43 | - | €1,476 | +€1,476 | |
| Credit institutions | 430/8 | - | €1,476 | +€1,476 | |
| Trade debts | 44 | €2,701 | €2,679 | -€22 | -0.8% |
| Suppliers | 440/4 | €2,701 | €2,679 | -€22 | -0.8% |
| Taxes, remuneration and social security | 45 | €3,269 | €1,453 | -€1,816 | -55.5% |
| Taxes | 450/3 | €3,269 | €1,453 | -€1,816 | -55.5% |
| Other amounts payable | 47/48 | €404,751 | €420,301 | +€15,550 | +3.8% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,010 | €2,760 | -€3,250 | -54.1% |
| Other operating charges | 640/8 | €1,986 | €2,153 | +€168 | +8.4% |
| Gross operating margin | 9900 | €6,475 | -€20,216 | -€26,691 | |
| Operating profit (loss) | 9901 | -€1,521 | -€25,129 | -€23,608 | -1552.5% |
| Financial income | 75/76B | €1,868 | €1,791 | -€76 | -4.1% |
| Recurring financial income | 75 | €1,868 | €1,791 | -€76 | -4.1% |
| Financial charges | 65/66B | €155 | €857 | +€702 | +453.1% |
| Recurring financial charges | 65 | €155 | €857 | +€702 | +453.1% |
| Profit (loss) for the period before taxes | 9903 | €192 | -€24,194 | -€24,386 | |
| Income taxes | 67/77 | €799 | €655 | -€144 | -18.1% |
| Profit (loss) for the period | 9904 | -€607 | -€24,849 | -€24,242 | -3995.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€607 | -€24,849 | -€24,242 | -3995.0% |
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 30 September 2026 via checked.be.