203: 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.
203
Largest movements
- Tangible fixed assets -€770
no longer reported in 2025 (was €770)
- Cash +€331
up €331 (+179.2%), from €185 to €516
mainly Other debts (+€6,871) and Depreciation (+€770)
- Receivables within one year +€223
new in 2025: €223
- Deferred charges and accrued income +€31
up €31 (+4.2%), from €732 to €763
- Other debts +€6,871
up €6,871 (+14.6%), from €47,210 to €54,081
- Profit (loss) carried forward -€5,488
down €5,488 (-6.5%), from -€84,705 to -€90,193
- Tax, wage and social debts -€1,024
down €1,024 (-26.5%), from €3,867 to €2,843
- Advances received -€855
no longer reported in 2025 (was €855)
- Trade debts +€312
up €312 (+2.2%), from €14,460 to €14,772
- Gross operating margin +€9,258
up €9,258 (+72.8%), from -€12,717 to -€3,459
- Financial charges +€563
up €563 (+86.2%), from €653 to €1,216
- Depreciation -€302
down €302 (-28.2%), from €1,072 to €770
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 | €1,687 | €1,503 | -€184 | -10.9% |
| Fixed assets | 21/28 | €770 | - | -€770 | |
| Tangible fixed assets | 22/27 | €770 | - | -€770 | |
| Other tangible fixed assets | 26 | €770 | - | -€770 | |
| Current assets | 29/58 | €917 | €1,503 | +€585 | +63.8% |
| Amounts receivable within one year | 40/41 | - | €223 | +€223 | |
| Trade receivables | 40 | - | €223 | +€223 | |
| Cash at bank and in hand | 54/58 | €185 | €516 | +€331 | +179.2% |
| Deferred charges and accrued income | 490/1 | €732 | €763 | +€31 | +4.2% |
| Total equity and liabilities | 10/49 | €1,687 | €1,503 | -€184 | -10.9% |
| Equity | 10/15 | -€64,705 | -€70,193 | -€5,488 | -8.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,705 | -€90,193 | -€5,488 | -6.5% |
| Amounts payable | 17/49 | €66,392 | €71,695 | +€5,304 | +8.0% |
| Amounts payable within one year | 42/48 | €66,392 | €71,695 | +€5,304 | +8.0% |
| Trade debts | 44 | €14,460 | €14,772 | +€312 | +2.2% |
| Suppliers | 440/4 | €14,460 | €14,772 | +€312 | +2.2% |
| Advances received on contracts in progress | 46 | €855 | - | -€855 | |
| Taxes, remuneration and social security | 45 | €3,867 | €2,843 | -€1,024 | -26.5% |
| Taxes | 450/3 | €3,867 | €2,843 | -€1,024 | -26.5% |
| Other amounts payable | 47/48 | €47,210 | €54,081 | +€6,871 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,072 | €770 | -€302 | -28.2% |
| Other operating charges | 640/8 | - | €43 | +€43 | |
| Non-recurring operating charges | 66A | €1,962 | - | -€1,962 | |
| Gross operating margin | 9900 | -€12,717 | -€3,459 | +€9,258 | +72.8% |
| Operating profit (loss) | 9901 | -€15,752 | -€4,272 | +€11,479 | +72.9% |
| Financial charges | 65/66B | €653 | €1,216 | +€563 | +86.2% |
| Recurring financial charges | 65 | €653 | €1,216 | +€563 | +86.2% |
| Profit (loss) for the period before taxes | 9903 | -€16,405 | -€5,488 | +€10,916 | +66.5% |
| Profit (loss) for the period | 9904 | -€16,405 | -€5,488 | +€10,916 | +66.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,405 | -€5,488 | +€10,916 | +66.5% |
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 3 October 2026 via checked.be.