2-execute: 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-execute
Largest movements
- Cash +€19,797
up €19,797 (+174.3%), from €11,356 to €31,153
mainly Depreciation (+€12,852) and Receivables within one year (+€11,425)
- Tangible fixed assets -€12,852
down €12,852 (-36.2%), from €35,520 to €22,668
of which Land and buildings: -€6,590
- Receivables within one year -€11,425
down €11,425 (-94.0%), from €12,151 to €727
of which Trade receivables: -€6,438
- Other debts -€3,359
down €3,359 (-10.4%), from €32,187 to €28,828
- Profit (loss) carried forward -€2,068
down €2,068 (-20.2%), from -€10,247 to -€12,315
- Trade debts -€2,054
down €2,054 (-60.9%), from €3,371 to €1,316
- Short-term financial debts +€1,868
up €1,868 (+328.6%), from €569 to €2,437
- Gross operating margin -€2,771
down €2,771 (-19.8%), from €14,023 to €11,252
- Depreciation -€1,098
down €1,098 (-7.9%), from €13,950 to €12,852
- Financial income +€374
new in 2025: €374
- Financial charges -€354
down €354 (-83.1%), from €426 to €72
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 | €59,777 | €55,297 | -€4,480 | -7.5% |
| Fixed assets | 21/28 | €36,270 | €23,418 | -€12,852 | -35.4% |
| Tangible fixed assets | 22/27 | €35,520 | €22,668 | -€12,852 | -36.2% |
| Land and buildings | 22 | €19,771 | €13,180 | -€6,590 | -33.3% |
| Plant, machinery and equipment | 23 | €2,396 | €1,981 | -€415 | -17.3% |
| Furniture and vehicles | 24 | €13,353 | €7,506 | -€5,847 | -43.8% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €23,507 | €31,880 | +€8,373 | +35.6% |
| Amounts receivable within one year | 40/41 | €12,151 | €727 | -€11,425 | -94.0% |
| Trade receivables | 40 | €7,082 | €644 | -€6,438 | -90.9% |
| Other amounts receivable | 41 | €5,070 | €83 | -€4,987 | -98.4% |
| Cash at bank and in hand | 54/58 | €11,356 | €31,153 | +€19,797 | +174.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €59,777 | €55,297 | -€4,480 | -7.5% |
| Equity | 10/15 | €23,535 | €21,467 | -€2,068 | -8.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €27,582 | €27,582 | = | 0.0% |
| Distributable reserves | 133 | €27,582 | €27,582 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,247 | -€12,315 | -€2,068 | -20.2% |
| Amounts payable | 17/49 | €36,242 | €33,831 | -€2,411 | -6.7% |
| Amounts payable within one year | 42/48 | €36,242 | €33,831 | -€2,411 | -6.7% |
| Financial debts | 43 | €569 | €2,437 | +€1,868 | +328.6% |
| Credit institutions | 430/8 | €569 | €2,437 | +€1,868 | +328.6% |
| Trade debts | 44 | €3,371 | €1,316 | -€2,054 | -60.9% |
| Suppliers | 440/4 | €3,371 | €1,316 | -€2,054 | -60.9% |
| Advances received on contracts in progress | 46 | - | €564 | +€564 | |
| Taxes, remuneration and social security | 45 | €116 | €685 | +€570 | +491.9% |
| Taxes | 450/3 | €116 | €685 | +€570 | +491.9% |
| Other amounts payable | 47/48 | €32,187 | €28,828 | -€3,359 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,950 | €12,852 | -€1,098 | -7.9% |
| Other operating charges | 640/8 | €605 | €656 | +€51 | +8.4% |
| Gross operating margin | 9900 | €14,023 | €11,252 | -€2,771 | -19.8% |
| Operating profit (loss) | 9901 | -€532 | -€2,256 | -€1,724 | -324.2% |
| Financial income | 75/76B | - | €374 | +€374 | |
| Recurring financial income | 75 | - | €374 | +€374 | |
| Financial charges | 65/66B | €426 | €72 | -€354 | -83.1% |
| Recurring financial charges | 65 | €426 | €72 | -€354 | -83.1% |
| Profit (loss) for the period before taxes | 9903 | -€958 | -€1,955 | -€997 | -104.0% |
| Income taxes | 67/77 | €116 | €113 | -€2 | -2.1% |
| Profit (loss) for the period | 9904 | -€1,074 | -€2,068 | -€994 | -92.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,074 | -€2,068 | -€994 | -92.6% |
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.