2 Explore: 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 Explore
Largest movements
- Tangible fixed assets -€17,843
down €17,843 (-19.8%), from €90,075 to €72,232
- Receivables within one year -€9,500
down €9,500 (-90.1%), from €10,548 to €1,048
of which Trade receivables: -€7,844
- Cash +€2,115
new in 2025: €2,115
mainly Depreciation (+€17,843) and Receivables within one year (+€9,500)
- Current investments +€1,200
up €1,200 (+36.4%), from €3,300 to €4,500
- Debts after one year -€16,892
down €16,892 (-39.2%), from €43,056 to €26,164
- Other debts -€5,209
down €5,209 (-63.3%), from €8,232 to €3,022
- Short-term financial debts -€2,807
down €2,807 (-100.0%), from €2,807 to €0
- Depreciation -€9,009
down €9,009 (-33.6%), from €26,852 to €17,843
- Gross operating margin -€2,978
down €2,978 (-11.8%), from €25,229 to €22,251
- Financial charges -€899
down €899 (-22.3%), from €4,031 to €3,132
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 | €104,253 | €80,167 | -€24,086 | -23.1% |
| Fixed assets | 21/28 | €90,075 | €72,232 | -€17,843 | -19.8% |
| Tangible fixed assets | 22/27 | €90,075 | €72,232 | -€17,843 | -19.8% |
| Plant, machinery and equipment | 23 | €52,121 | €43,510 | -€8,611 | -16.5% |
| Furniture and vehicles | 24 | €8,507 | €7,382 | -€1,124 | -13.2% |
| Leasing and similar rights | 25 | €27,252 | €19,942 | -€7,310 | -26.8% |
| Other tangible fixed assets | 26 | €2,195 | €1,398 | -€798 | -36.3% |
| Current assets | 29/58 | €14,178 | €7,935 | -€6,243 | -44.0% |
| Amounts receivable within one year | 40/41 | €10,548 | €1,048 | -€9,500 | -90.1% |
| Trade receivables | 40 | €8,812 | €968 | -€7,844 | -89.0% |
| Other amounts receivable | 41 | €1,736 | €80 | -€1,656 | -95.4% |
| Current investments | 50/53 | €3,300 | €4,500 | +€1,200 | +36.4% |
| Cash at bank and in hand | 54/58 | - | €2,115 | +€2,115 | |
| Deferred charges and accrued income | 490/1 | €330 | €272 | -€58 | -17.5% |
| Total equity and liabilities | 10/49 | €104,253 | €80,167 | -€24,086 | -23.1% |
| Equity | 10/15 | €32,757 | €33,086 | +€329 | +1.0% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €27,760 | €27,760 | = | 0.0% |
| Distributable reserves | 133 | €27,760 | €27,760 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,503 | -€2,174 | +€329 | +13.2% |
| Amounts payable | 17/49 | €71,496 | €47,081 | -€24,415 | -34.1% |
| Amounts payable after more than one year | 17 | €43,056 | €26,164 | -€16,892 | -39.2% |
| Financial debts | 170/4 | €43,056 | €26,164 | -€16,892 | -39.2% |
| Amounts payable within one year | 42/48 | €28,150 | €20,917 | -€7,232 | -25.7% |
| Current portion of amounts payable after more than one year | 42 | €16,095 | €16,892 | +€797 | +5.0% |
| Financial debts | 43 | €2,807 | €0 | -€2,807 | -100.0% |
| Credit institutions | 430/8 | €2,807 | €0 | -€2,807 | -100.0% |
| Trade debts | 44 | €269 | €198 | -€71 | -26.4% |
| Suppliers | 440/4 | €269 | €198 | -€71 | -26.4% |
| Taxes, remuneration and social security | 45 | €747 | €804 | +€57 | +7.7% |
| Taxes | 450/3 | €747 | €804 | +€57 | +7.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €8,232 | €3,022 | -€5,209 | -63.3% |
| Accrued charges and deferred income | 492/3 | €290 | €0 | -€290 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,852 | €17,843 | -€9,009 | -33.6% |
| Other operating charges | 640/8 | €945 | €1,072 | +€126 | +13.4% |
| Gross operating margin | 9900 | €25,229 | €22,251 | -€2,978 | -11.8% |
| Operating profit (loss) | 9901 | -€2,568 | €3,337 | +€5,905 | |
| Financial income | 75/76B | €142 | €125 | -€17 | -11.7% |
| Recurring financial income | 75 | €142 | €125 | -€17 | -11.7% |
| Financial charges | 65/66B | €4,031 | €3,132 | -€899 | -22.3% |
| Recurring financial charges | 65 | €4,031 | €3,132 | -€899 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,458 | €329 | +€6,787 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€6,458 | €329 | +€6,787 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,458 | €329 | +€6,787 |
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.