26 & US: what changed
Two financial 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.
26 & US
Largest movements
- Receivables within one year +€83,763
up €83,763 (+22.0%), from €380,445 to €464,208
of which Other amounts receivable: +€96,528
- Cash -€6,311
down €6,311 (-99.2%), from €6,360 to €50
mainly Receivables within one year (-€83,763) and Trade debts (-€35,820)
- Deferred charges and accrued income +€5,000
new in 2025: €5,000
- Other debts +€132,228
up €132,228 (+53.9%), from €245,204 to €377,432
- Trade debts -€35,820
down €35,820 (-27.4%), from €130,822 to €95,002
- Profit (loss) carried forward -€10,728
down €10,728 (-13.0%), from -€82,780 to -€93,508
- Accrued charges and deferred income -€7,085
no longer reported in 2025 (was €7,085)
- Advances received +€6,050
new in 2025: €6,050
- Staff costs -€22,817
down €22,817 (-94.0%), from €24,266 to €1,448
- Financial income -€7,344
down €7,344 (-93.0%), from €7,901 to €557
- Gross operating margin -€6,362
down €6,362 (-245%), from -€2,592 to -€8,954
- Other operating charges -€5,051
down €5,051 (-96.1%), from €5,259 to €208
- Taxes -€1,933
no longer reported in 2025 (was €1,933)
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.
Derived cash bridge
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 | €393,249 | €475,258 | +€82,010 | +20.9% |
| Fixed assets | 21/28 | €6,443 | €6,000 | -€443 | -6.9% |
| Tangible fixed assets | 22/27 | €443 | - | -€443 | |
| Furniture and vehicles | 24 | €443 | - | -€443 | |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €386,805 | €469,258 | +€82,453 | +21.3% |
| Amounts receivable within one year | 40/41 | €380,445 | €464,208 | +€83,763 | +22.0% |
| Trade receivables | 40 | €12,765 | - | -€12,765 | |
| Other amounts receivable | 41 | €367,680 | €464,208 | +€96,528 | +26.3% |
| Cash at bank and in hand | 54/58 | €6,360 | €50 | -€6,311 | -99.2% |
| Deferred charges and accrued income | 490/1 | - | €5,000 | +€5,000 | |
| Total equity and liabilities | 10/49 | €393,249 | €475,258 | +€82,010 | +20.9% |
| Equity | 10/15 | -€48,780 | -€59,508 | -€10,728 | -22.0% |
| Contributions | 10/11 | €34,000 | €34,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,780 | -€93,508 | -€10,728 | -13.0% |
| Amounts payable | 17/49 | €442,028 | €534,766 | +€92,737 | +21.0% |
| Amounts payable within one year | 42/48 | €434,943 | €534,766 | +€99,822 | +23.0% |
| Trade debts | 44 | €130,822 | €95,002 | -€35,820 | -27.4% |
| Suppliers | 440/4 | €130,822 | €95,002 | -€35,820 | -27.4% |
| Advances received on contracts in progress | 46 | - | €6,050 | +€6,050 | |
| Taxes, remuneration and social security | 45 | €58,918 | €56,282 | -€2,636 | -4.5% |
| Taxes | 450/3 | €1,764 | €1,589 | -€174 | -9.9% |
| Remuneration and social security | 454/9 | €57,154 | €54,693 | -€2,461 | -4.3% |
| Other amounts payable | 47/48 | €245,204 | €377,432 | +€132,228 | +53.9% |
| Accrued charges and deferred income | 492/3 | €7,085 | - | -€7,085 | |
| Remuneration, social security and pensions | 62 | €24,266 | €1,448 | -€22,817 | -94.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €749 | €443 | -€306 | -40.8% |
| Other operating charges | 640/8 | €5,259 | €208 | -€5,051 | -96.1% |
| Gross operating margin | 9900 | -€2,592 | -€8,954 | -€6,362 | -245% |
| Operating profit (loss) | 9901 | -€32,865 | -€11,053 | +€21,811 | +66.4% |
| Financial income | 75/76B | €7,901 | €557 | -€7,344 | -93.0% |
| Recurring financial income | 75 | €7,901 | €557 | -€7,344 | -93.0% |
| Financial charges | 65/66B | €197 | €231 | +€35 | +17.6% |
| Recurring financial charges | 65 | €197 | €231 | +€35 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | -€25,161 | -€10,728 | +€14,433 | +57.4% |
| Income taxes | 67/77 | €1,933 | - | -€1,933 | |
| Profit (loss) for the period | 9904 | -€27,094 | -€10,728 | +€16,366 | +60.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,094 | -€10,728 | +€16,366 | +60.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.