2020: 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.
2020
Largest movements
- Receivables within one year -€9,370
down €9,370 (-46.9%), from €19,994 to €10,624
of which Trade receivables: -€7,199
- Tangible fixed assets -€4,451
down €4,451 (-27.1%), from €16,396 to €11,945
- Cash +€3,987
up €3,987 (+110.6%), from €3,606 to €7,593
mainly Receivables within one year (+€9,370) and Net result for the year (+€6,878)
- Profit (loss) carried forward +€6,741
up €6,741, from -€6,741 to €0
- Debts after one year -€5,372
down €5,372 (-66.2%), from €8,117 to €2,746
- Other debts -€5,316
down €5,316 (-67.9%), from €7,830 to €2,514
- Trade debts -€5,129
down €5,129 (-23.8%), from €21,588 to €16,460
- Current portion of long-term debt -€1,689
down €1,689 (-23.9%), from €7,061 to €5,372
- Gross operating margin +€5,049
up €5,049 (+30.9%), from €16,351 to €21,400
- Taxes +€1,161
up €1,161 (+50.3%), from €2,307 to €3,467
- Other operating charges +€610
up €610 (+31.8%), from €1,917 to €2,528
- Staff costs -€348
down €348 (-100.0%), from €348 to €0
- Depreciation -€274
down €274 (-5.6%), from €4,938 to €4,663
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 | €85,884 | €75,636 | -€10,248 | -11.9% |
| Fixed assets | 21/28 | €16,896 | €12,445 | -€4,451 | -26.3% |
| Tangible fixed assets | 22/27 | €16,396 | €11,945 | -€4,451 | -27.1% |
| Plant, machinery and equipment | 23 | €11,816 | €9,644 | -€2,171 | -18.4% |
| Furniture and vehicles | 24 | €4,028 | €2,300 | -€1,728 | -42.9% |
| Leasing and similar rights | 25 | €552 | €0 | -€552 | -100.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €68,988 | €63,191 | -€5,797 | -8.4% |
| Stocks and contracts in progress | 3 | €44,974 | €44,974 | = | 0.0% |
| Stocks | 30/36 | €44,974 | €44,974 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €19,994 | €10,624 | -€9,370 | -46.9% |
| Trade receivables | 40 | €9,604 | €2,405 | -€7,199 | -75.0% |
| Other amounts receivable | 41 | €10,390 | €8,219 | -€2,171 | -20.9% |
| Cash at bank and in hand | 54/58 | €3,606 | €7,593 | +€3,987 | +110.6% |
| Deferred charges and accrued income | 490/1 | €414 | €0 | -€414 | -100.0% |
| Total equity and liabilities | 10/49 | €85,884 | €75,636 | -€10,248 | -11.9% |
| Equity | 10/15 | €32,058 | €38,936 | +€6,878 | +21.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €18,799 | €18,936 | +€137 | +0.7% |
| Distributable reserves | 133 | €18,799 | €18,936 | +€137 | +0.7% |
| Profit (loss) carried forward | 14 | -€6,741 | €0 | +€6,741 | |
| Amounts payable | 17/49 | €53,826 | €36,700 | -€17,126 | -31.8% |
| Amounts payable after more than one year | 17 | €8,117 | €2,746 | -€5,372 | -66.2% |
| Financial debts | 170/4 | €8,117 | €2,746 | -€5,372 | -66.2% |
| Amounts payable within one year | 42/48 | €45,709 | €33,955 | -€11,754 | -25.7% |
| Current portion of amounts payable after more than one year | 42 | €7,061 | €5,372 | -€1,689 | -23.9% |
| Financial debts | 43 | €4,029 | €5,265 | +€1,236 | +30.7% |
| Credit institutions | 430/8 | €29 | €29 | = | 0.0% |
| Other loans | 439 | €4,000 | €5,236 | +€1,236 | +30.9% |
| Trade debts | 44 | €21,588 | €16,460 | -€5,129 | -23.8% |
| Suppliers | 440/4 | €21,588 | €16,460 | -€5,129 | -23.8% |
| Taxes, remuneration and social security | 45 | €5,201 | €4,345 | -€856 | -16.5% |
| Taxes | 450/3 | €1,951 | €1,095 | -€856 | -43.9% |
| Remuneration and social security | 454/9 | €3,250 | €3,250 | = | 0.0% |
| Other amounts payable | 47/48 | €7,830 | €2,514 | -€5,316 | -67.9% |
| Remuneration, social security and pensions | 62 | €348 | €0 | -€348 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,938 | €4,663 | -€274 | -5.6% |
| Other operating charges | 640/8 | €1,917 | €2,528 | +€610 | +31.8% |
| Gross operating margin | 9900 | €16,351 | €21,400 | +€5,049 | +30.9% |
| Operating profit (loss) | 9901 | €9,148 | €14,209 | +€5,061 | +55.3% |
| Financial income | 75/76B | €0 | €1 | +€0 | +114.8% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +114.8% |
| Financial charges | 65/66B | €3,957 | €3,865 | -€92 | -2.3% |
| Recurring financial charges | 65 | €3,957 | €3,865 | -€92 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €5,191 | €10,345 | +€5,154 | +99.3% |
| Income taxes | 67/77 | €2,307 | €3,467 | +€1,161 | +50.3% |
| Profit (loss) for the period | 9904 | €2,884 | €6,878 | +€3,994 | +138.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,884 | €6,878 | +€3,994 | +138.5% |
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 6 October 2026 via checked.be.