18 - 20: 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.
18 - 20
Largest movements
- Cash +€15,961
up €15,961 (+407.2%), from €3,920 to €19,881
mainly Other debts (+€27,378) and Depreciation (+€13,742)
- Tangible fixed assets -€13,742
down €13,742 (-13.0%), from €105,398 to €91,657
of which Furniture and vehicles: -€9,198
- Other debts +€27,378
up €27,378 (+18.8%), from €145,875 to €173,252
- Profit (loss) carried forward -€25,110
down €25,110 (-11.2%), from -€225,205 to -€250,315
- Trade debts -€2,314
no longer reported in 2025 (was €2,314)
- Tax, wage and social debts +€2,267
up €2,267 (+73.2%), from €3,097 to €5,364
- Gross operating margin +€20,015
up €20,015 (+81.1%), from -€24,687 to -€4,672
- Depreciation +€381
up €381 (+2.8%), from €13,361 to €13,742
- Financial charges -€335
down €335 (-65.1%), from €515 to €180
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 | €109,538 | €111,759 | +€2,220 | +2.0% |
| Fixed assets | 21/28 | €105,398 | €91,657 | -€13,742 | -13.0% |
| Tangible fixed assets | 22/27 | €105,398 | €91,657 | -€13,742 | -13.0% |
| Land and buildings | 22 | €49,579 | €49,579 | = | 0.0% |
| Plant, machinery and equipment | 23 | €38,574 | €34,030 | -€4,544 | -11.8% |
| Furniture and vehicles | 24 | €17,246 | €8,048 | -€9,198 | -53.3% |
| Current assets | 29/58 | €4,140 | €20,102 | +€15,962 | +385.6% |
| Amounts receivable within one year | 40/41 | €220 | €221 | +€1 | +0.5% |
| Other amounts receivable | 41 | €220 | €221 | +€1 | +0.5% |
| Cash at bank and in hand | 54/58 | €3,920 | €19,881 | +€15,961 | +407.2% |
| Total equity and liabilities | 10/49 | €109,538 | €111,759 | +€2,220 | +2.0% |
| Equity | 10/15 | -€41,748 | -€66,858 | -€25,110 | -60.1% |
| Contributions | 10/11 | €183,457 | €183,457 | = | 0.0% |
| Capital | 10 | €183,441 | €183,441 | = | 0.0% |
| Issued capital | 100 | €183,441 | €183,441 | = | 0.0% |
| Contributions outside capital | 11 | €16 | €16 | = | 0.0% |
| Share premium | 1100/10 | €16 | €16 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€225,205 | -€250,315 | -€25,110 | -11.2% |
| Amounts payable | 17/49 | €151,286 | €178,617 | +€27,331 | +18.1% |
| Amounts payable within one year | 42/48 | €151,286 | €178,617 | +€27,331 | +18.1% |
| Trade debts | 44 | €2,314 | - | -€2,314 | |
| Suppliers | 440/4 | €2,314 | - | -€2,314 | |
| Taxes, remuneration and social security | 45 | €3,097 | €5,364 | +€2,267 | +73.2% |
| Taxes | 450/3 | €3,097 | €5,364 | +€2,267 | +73.2% |
| Other amounts payable | 47/48 | €145,875 | €173,252 | +€27,378 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,361 | €13,742 | +€381 | +2.8% |
| Other operating charges | 640/8 | €6,074 | €6,224 | +€149 | +2.5% |
| Gross operating margin | 9900 | -€24,687 | -€4,672 | +€20,015 | +81.1% |
| Operating profit (loss) | 9901 | -€44,123 | -€24,637 | +€19,485 | +44.2% |
| Financial charges | 65/66B | €515 | €180 | -€335 | -65.1% |
| Recurring financial charges | 65 | €515 | €180 | -€335 | -65.1% |
| Profit (loss) for the period before taxes | 9903 | -€44,638 | -€24,817 | +€19,820 | +44.4% |
| Income taxes | 67/77 | €285 | €293 | +€8 | +2.8% |
| Profit (loss) for the period | 9904 | -€44,923 | -€25,110 | +€19,812 | +44.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,923 | -€25,110 | +€19,812 | +44.1% |
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 9 October 2026 via checked.be.