18FIVE: 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.
18FIVE
Largest movements
- Cash -€9,301
down €9,301 (-24.5%), from €38,025 to €28,724
mainly Net result for the year (-€7,466) and Investment in fixed assets (net) (-€6,153)
- Tangible fixed assets +€5,121
new in 2025: €5,121
- Receivables within one year -€1,401
down €1,401 (-55.7%), from €2,515 to €1,115
of which Other amounts receivable: -€2,327
- Profit (loss) carried forward -€7,466
down €7,466 (-91.2%), from -€8,184 to -€15,650
- Debts after one year +€1,666
up €1,666 (+4.0%), from €41,650 to €43,316
- Trade debts +€610
new in 2025: €610
- Gross operating margin +€1,041
up €1,041 (+18.7%), from -€5,580 to -€4,539
- Depreciation +€1,032
new in 2025: €1,032
- Other operating charges -€370
down €370 (-41.6%), from €890 to €520
- Financial charges -€339
down €339 (-19.8%), from €1,715 to €1,376
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 | €40,540 | €34,960 | -€5,581 | -13.8% |
| Fixed assets | 21/28 | - | €5,121 | +€5,121 | |
| Tangible fixed assets | 22/27 | - | €5,121 | +€5,121 | |
| Furniture and vehicles | 24 | - | €5,121 | +€5,121 | |
| Current assets | 29/58 | €40,540 | €29,839 | -€10,701 | -26.4% |
| Amounts receivable within one year | 40/41 | €2,515 | €1,115 | -€1,401 | -55.7% |
| Trade receivables | 40 | - | €926 | +€926 | |
| Other amounts receivable | 41 | €2,515 | €189 | -€2,327 | -92.5% |
| Cash at bank and in hand | 54/58 | €38,025 | €28,724 | -€9,301 | -24.5% |
| Total equity and liabilities | 10/49 | €40,540 | €34,960 | -€5,581 | -13.8% |
| Equity | 10/15 | -€3,184 | -€10,650 | -€7,466 | -234.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,184 | -€15,650 | -€7,466 | -91.2% |
| Amounts payable | 17/49 | €43,724 | €45,610 | +€1,886 | +4.3% |
| Amounts payable after more than one year | 17 | €41,650 | €43,316 | +€1,666 | +4.0% |
| Financial debts | 170/4 | €41,650 | €43,316 | +€1,666 | +4.0% |
| Amounts payable within one year | 42/48 | €408 | €1,018 | +€610 | +149.3% |
| Trade debts | 44 | - | €610 | +€610 | |
| Suppliers | 440/4 | - | €610 | +€610 | |
| Other amounts payable | 47/48 | €408 | €408 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,666 | €1,276 | -€390 | -23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,032 | +€1,032 | |
| Other operating charges | 640/8 | €890 | €520 | -€370 | -41.6% |
| Gross operating margin | 9900 | -€5,580 | -€4,539 | +€1,041 | +18.7% |
| Operating profit (loss) | 9901 | -€6,470 | -€6,090 | +€379 | +5.9% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €1,715 | €1,376 | -€339 | -19.8% |
| Recurring financial charges | 65 | €1,715 | €1,376 | -€339 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | -€8,184 | -€7,466 | +€718 | +8.8% |
| Profit (loss) for the period | 9904 | -€8,184 | -€7,466 | +€718 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,184 | -€7,466 | +€718 | +8.8% |
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 12 October 2026 via checked.be.