2Forward: 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.
2Forward
Largest movements
- Cash +€31,662
up €31,662 (+24.4%), from €129,841 to €161,503
mainly Other debts (+€75,302) and Receivables within one year (+€21,087)
- Receivables within one year -€21,087
down €21,087 (-65.7%), from €32,083 to €10,996
of which Other amounts receivable: -€11,480
- Deferred charges and accrued income +€2,694
up €2,694 (+86.7%), from €3,107 to €5,801
- Other debts +€75,302
up €75,302 (+3749.5%), from €2,008 to €77,311
- Reserves -€54,521
down €54,521 (-38.5%), from €141,457 to €86,936
- Tax, wage and social debts -€5,667
down €5,667 (-60.3%), from €9,394 to €3,726
- Trade debts -€2,089
down €2,089 (-78.2%), from €2,671 to €582
- Gross operating margin -€32,322
down €32,322 (-63.2%), from €51,133 to €18,810
- Taxes -€8,023
down €8,023 (-61.8%), from €12,988 to €4,965
- Depreciation -€1,638
down €1,638 (-87.0%), from €1,883 to €245
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 | €165,530 | €178,555 | +€13,025 | +7.9% |
| Fixed assets | 21/28 | €500 | €255 | -€245 | -49.0% |
| Tangible fixed assets | 22/27 | €300 | €55 | -€245 | -81.7% |
| Plant, machinery and equipment | 23 | €300 | €55 | -€245 | -81.7% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €165,031 | €178,300 | +€13,269 | +8.0% |
| Amounts receivable within one year | 40/41 | €32,083 | €10,996 | -€21,087 | -65.7% |
| Trade receivables | 40 | €20,568 | €10,961 | -€9,607 | -46.7% |
| Other amounts receivable | 41 | €11,515 | €35 | -€11,480 | -99.7% |
| Cash at bank and in hand | 54/58 | €129,841 | €161,503 | +€31,662 | +24.4% |
| Deferred charges and accrued income | 490/1 | €3,107 | €5,801 | +€2,694 | +86.7% |
| Total equity and liabilities | 10/49 | €165,530 | €178,555 | +€13,025 | +7.9% |
| Equity | 10/15 | €151,457 | €96,936 | -€54,521 | -36.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €141,457 | €86,936 | -€54,521 | -38.5% |
| Distributable reserves | 133 | €141,457 | €86,936 | -€54,521 | -38.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €14,073 | €81,619 | +€67,545 | +480.0% |
| Amounts payable within one year | 42/48 | €14,073 | €81,619 | +€67,545 | +480.0% |
| Trade debts | 44 | €2,671 | €582 | -€2,089 | -78.2% |
| Suppliers | 440/4 | €2,671 | €582 | -€2,089 | -78.2% |
| Taxes, remuneration and social security | 45 | €9,394 | €3,726 | -€5,667 | -60.3% |
| Taxes | 450/3 | €9,394 | €3,726 | -€5,667 | -60.3% |
| Other amounts payable | 47/48 | €2,008 | €77,311 | +€75,302 | +3749.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,883 | €245 | -€1,638 | -87.0% |
| Other operating charges | 640/8 | €659 | €747 | +€88 | +13.4% |
| Gross operating margin | 9900 | €51,133 | €18,810 | -€32,322 | -63.2% |
| Operating profit (loss) | 9901 | €48,591 | €17,819 | -€30,772 | -63.3% |
| Financial income | 75/76B | €22 | €0 | -€22 | -100.0% |
| Recurring financial income | 75 | €22 | €0 | -€22 | -100.0% |
| Financial charges | 65/66B | €1,524 | €1,875 | +€351 | +23.0% |
| Recurring financial charges | 65 | €1,524 | €1,875 | +€351 | +23.0% |
| Profit (loss) for the period before taxes | 9903 | €47,088 | €15,944 | -€31,144 | -66.1% |
| Income taxes | 67/77 | €12,988 | €4,965 | -€8,023 | -61.8% |
| Profit (loss) for the period | 9904 | €34,100 | €10,979 | -€23,121 | -67.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,100 | €10,979 | -€23,121 | -67.8% |
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 8 October 2026 via checked.be.