2 SPECIAL: 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 SPECIAL
Largest movements
- Cash -€4,310
down €4,310 (-75.8%), from €5,690 to €1,379
mainly Net result for the year (-€10,089) and Trade debts (-€3,481)
- Intangible fixed assets -€719
down €719 (-37.2%), from €1,931 to €1,212
- Formation expenses -€190
down €190 (-38.6%), from €493 to €303
- Profit (loss) carried forward -€10,089
down €10,089 (-59.0%), from -€17,097 to -€27,186
- Other debts +€8,300
up €8,300 (+55.8%), from €14,882 to €23,182
- Trade debts -€3,481
down €3,481 (-53.3%), from €6,527 to €3,046
- Financial charges +€3,002
up €3,002 (+1949.5%), from €154 to €3,156
- Other operating charges +€537
up €537 (+103.5%), from €519 to €1,057
- Gross operating margin -€273
down €273 (-5.8%), from -€4,694 to -€4,967
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 | €8,312 | €3,059 | -€5,253 | -63.2% |
| Formation expenses | 20 | €493 | €303 | -€190 | -38.6% |
| Fixed assets | 21/28 | €1,931 | €1,212 | -€719 | -37.2% |
| Intangible fixed assets | 21 | €1,931 | €1,212 | -€719 | -37.2% |
| Current assets | 29/58 | €5,888 | €1,544 | -€4,344 | -73.8% |
| Amounts receivable within one year | 40/41 | €198 | €164 | -€34 | -17.2% |
| Other amounts receivable | 41 | €198 | €164 | -€34 | -17.2% |
| Cash at bank and in hand | 54/58 | €5,690 | €1,379 | -€4,310 | -75.8% |
| Total equity and liabilities | 10/49 | €8,312 | €3,059 | -€5,253 | -63.2% |
| Equity | 10/15 | -€13,097 | -€23,186 | -€10,089 | -77.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,097 | -€27,186 | -€10,089 | -59.0% |
| Amounts payable | 17/49 | €21,409 | €26,245 | +€4,835 | +22.6% |
| Amounts payable within one year | 42/48 | €21,409 | €26,245 | +€4,835 | +22.6% |
| Financial debts | 43 | - | €16 | +€16 | |
| Credit institutions | 430/8 | - | €16 | +€16 | |
| Trade debts | 44 | €6,527 | €3,046 | -€3,481 | -53.3% |
| Suppliers | 440/4 | €6,527 | €3,046 | -€3,481 | -53.3% |
| Other amounts payable | 47/48 | €14,882 | €23,182 | +€8,300 | +55.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €909 | €909 | = | 0.0% |
| Other operating charges | 640/8 | €519 | €1,057 | +€537 | +103.5% |
| Gross operating margin | 9900 | -€4,694 | -€4,967 | -€273 | -5.8% |
| Operating profit (loss) | 9901 | -€6,122 | -€6,933 | -€811 | -13.2% |
| Financial charges | 65/66B | €154 | €3,156 | +€3,002 | +1949.5% |
| Recurring financial charges | 65 | €154 | €3,156 | +€3,002 | +1949.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,276 | -€10,089 | -€3,813 | -60.8% |
| Profit (loss) for the period | 9904 | -€6,276 | -€10,089 | -€3,813 | -60.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,276 | -€10,089 | -€3,813 | -60.8% |
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.