2 CREATE: 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.
2 CREATE
Largest movements
- Receivables within one year -€35,200
down €35,200 (-75.4%), from €46,673 to €11,473
of which Other amounts receivable: -€24,073
- Deferred charges and accrued income +€10,094
up €10,094 (+604.5%), from €1,670 to €11,764
- Cash -€7,121
down €7,121 (-9.7%), from €73,666 to €66,545
mainly Net result for the year (-€37,030) and Deferred charges and accrued income (-€10,094)
- Tangible fixed assets -€3,873
down €3,873 (-30.0%), from €12,890 to €9,017
of which Plant, machinery and equipment: -€2,802
- Reserves -€37,526
down €37,526 (-32.9%), from €114,210 to €76,683
- Profit (loss) carried forward -€4,504
new in 2025: -€4,504
- Other debts +€4,313
up €4,313 (+71.8%), from €6,004 to €10,316
- Trade debts +€1,466
up €1,466, from €0 to €1,466
- Gross operating margin -€52,579
down €52,579, from €21,217 to -€31,362
- Taxes -€5,547
down €5,547 (-100.0%), from €5,547 to €0
- Depreciation -€594
down €594 (-12.3%), from €4,848 to €4,254
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 | €134,899 | €98,799 | -€36,100 | -26.8% |
| Fixed assets | 21/28 | €12,890 | €9,017 | -€3,873 | -30.0% |
| Tangible fixed assets | 22/27 | €12,890 | €9,017 | -€3,873 | -30.0% |
| Land and buildings | 22 | €4,340 | €3,674 | -€667 | -15.4% |
| Plant, machinery and equipment | 23 | €7,624 | €4,822 | -€2,802 | -36.8% |
| Furniture and vehicles | 24 | €925 | €521 | -€404 | -43.7% |
| Current assets | 29/58 | €122,009 | €89,782 | -€32,227 | -26.4% |
| Amounts receivable within one year | 40/41 | €46,673 | €11,473 | -€35,200 | -75.4% |
| Trade receivables | 40 | €20,100 | €8,973 | -€11,127 | -55.4% |
| Other amounts receivable | 41 | €26,573 | €2,500 | -€24,073 | -90.6% |
| Cash at bank and in hand | 54/58 | €73,666 | €66,545 | -€7,121 | -9.7% |
| Deferred charges and accrued income | 490/1 | €1,670 | €11,764 | +€10,094 | +604.5% |
| Total equity and liabilities | 10/49 | €134,899 | €98,799 | -€36,100 | -26.8% |
| Equity | 10/15 | €126,560 | €84,530 | -€42,030 | -33.2% |
| Contributions | 10/11 | €12,350 | €12,350 | = | 0.0% |
| Reserves | 13 | €114,210 | €76,683 | -€37,526 | -32.9% |
| Distributable reserves | 133 | €114,210 | €76,683 | -€37,526 | -32.9% |
| Profit (loss) carried forward | 14 | - | -€4,504 | -€4,504 | |
| Amounts payable | 17/49 | €8,339 | €14,269 | +€5,930 | +71.1% |
| Amounts payable within one year | 42/48 | €7,517 | €14,269 | +€6,752 | +89.8% |
| Trade debts | 44 | €0 | €1,466 | +€1,466 | |
| Suppliers | 440/4 | €0 | €1,466 | +€1,466 | |
| Taxes, remuneration and social security | 45 | €1,513 | €2,486 | +€973 | +64.3% |
| Taxes | 450/3 | €1,513 | €2,486 | +€973 | +64.3% |
| Other amounts payable | 47/48 | €6,004 | €10,316 | +€4,313 | +71.8% |
| Accrued charges and deferred income | 492/3 | €823 | - | -€823 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,848 | €4,254 | -€594 | -12.3% |
| Other operating charges | 640/8 | €1,082 | €1,116 | +€34 | +3.1% |
| Gross operating margin | 9900 | €21,217 | -€31,362 | -€52,579 | |
| Operating profit (loss) | 9901 | €15,287 | -€36,731 | -€52,018 | |
| Financial income | 75/76B | €1 | €306 | +€305 | +28472.0% |
| Recurring financial income | 75 | €1 | €306 | +€305 | +28472.0% |
| Financial charges | 65/66B | €334 | €605 | +€271 | +81.2% |
| Recurring financial charges | 65 | €334 | €605 | +€271 | +81.2% |
| Profit (loss) for the period before taxes | 9903 | €14,954 | -€37,030 | -€51,985 | |
| Income taxes | 67/77 | €5,547 | €0 | -€5,547 | -100.0% |
| Profit (loss) for the period | 9904 | €9,408 | -€37,030 | -€46,438 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,408 | -€37,030 | -€46,438 |
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 4 October 2026 via checked.be.