2ND TRACK: what changed
2ND TRACK
Largest movements
- Receivables within one year -€12,763
down €12,763 (-66.0%), from €19,332 to €6,568
of which Other amounts receivable: -€7,778
- Tangible fixed assets -€5,890
down €5,890 (-25.2%), from €23,405 to €17,515
of which Furniture and vehicles: -€5,010
- Deferred charges and accrued income +€1,243
up €1,243 (+141%), from €884 to €2,127
- Debts after one year -€13,994
down €13,994 (-73.4%), from €19,064 to €5,070
- Tax, wage and social debts -€7,774
down €7,774 (-68.0%), from €11,432 to €3,658
of which Remuneration and social security: -€9,846
- Other debts +€4,456
up €4,456 (+19.6%), from €22,716 to €27,172
- Trade debts -€1,944
down €1,944 (-14.6%), from €13,304 to €11,360
- Profit (loss) carried forward +€1,905
up €1,905 (+4.3%), from -€44,126 to -€42,221
- Gross operating margin -€4,323
down €4,323 (-25.3%), from €17,100 to €12,778
- Depreciation +€3,047
up €3,047 (+76.5%), from €3,981 to €7,028
- Financial income -€1,386
down €1,386 (-100.0%), from €1,386 to €0
- Financial charges -€810
down €810 (-22.5%), from €3,591 to €2,782
of which Non-recurring financial charges: -€690
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,818 | €27,120 | -€17,697 | -39.5% |
| Fixed assets | 21/28 | €23,705 | €17,815 | -€5,890 | -24.8% |
| Tangible fixed assets | 22/27 | €23,405 | €17,515 | -€5,890 | -25.2% |
| Furniture and vehicles | 24 | €21,804 | €16,794 | -€5,010 | -23.0% |
| Other tangible fixed assets | 26 | €1,601 | €721 | -€880 | -55.0% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €21,113 | €9,306 | -€11,807 | -55.9% |
| Amounts receivable within one year | 40/41 | €19,332 | €6,568 | -€12,763 | -66.0% |
| Trade receivables | 40 | €11,554 | €6,568 | -€4,986 | -43.2% |
| Other amounts receivable | 41 | €7,778 | - | -€7,778 | |
| Cash at bank and in hand | 54/58 | €897 | €610 | -€287 | -32.0% |
| Deferred charges and accrued income | 490/1 | €884 | €2,127 | +€1,243 | +141% |
| Total equity and liabilities | 10/49 | €44,818 | €27,120 | -€17,697 | -39.5% |
| Equity | 10/15 | -€37,926 | -€36,021 | +€1,905 | +5.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,126 | -€42,221 | +€1,905 | +4.3% |
| Amounts payable | 17/49 | €82,743 | €63,141 | -€19,602 | -23.7% |
| Amounts payable after more than one year | 17 | €19,064 | €5,070 | -€13,994 | -73.4% |
| Financial debts | 170/4 | €19,064 | €5,070 | -€13,994 | -73.4% |
| Amounts payable within one year | 42/48 | €61,390 | €56,184 | -€5,206 | -8.5% |
| Current portion of amounts payable after more than one year | 42 | €13,939 | €13,994 | +€55 | +0.4% |
| Trade debts | 44 | €13,304 | €11,360 | -€1,944 | -14.6% |
| Suppliers | 440/4 | €13,304 | €11,360 | -€1,944 | -14.6% |
| Taxes, remuneration and social security | 45 | €11,432 | €3,658 | -€7,774 | -68.0% |
| Taxes | 450/3 | €1,586 | €3,658 | +€2,072 | +131% |
| Remuneration and social security | 454/9 | €9,846 | - | -€9,846 | |
| Other amounts payable | 47/48 | €22,716 | €27,172 | +€4,456 | +19.6% |
| Accrued charges and deferred income | 492/3 | €2,289 | €1,887 | -€402 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,981 | €7,028 | +€3,047 | +76.5% |
| Other operating charges | 640/8 | €846 | €685 | -€161 | -19.0% |
| Non-recurring operating charges | 66A | €656 | €238 | -€418 | -63.7% |
| Gross operating margin | 9900 | €17,100 | €12,778 | -€4,323 | -25.3% |
| Operating profit (loss) | 9901 | €11,618 | €4,827 | -€6,790 | -58.4% |
| Financial income | 75/76B | €1,386 | €0 | -€1,386 | -100.0% |
| Recurring financial income | 75 | €1,386 | €0 | -€1,386 | -100.0% |
| Financial charges | 65/66B | €3,591 | €2,782 | -€810 | -22.5% |
| Recurring financial charges | 65 | €2,901 | €2,782 | -€120 | -4.1% |
| Non-recurring financial charges | 66B | €690 | - | -€690 | |
| Profit (loss) for the period before taxes | 9903 | €9,412 | €2,046 | -€7,366 | -78.3% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | €9,272 | €1,905 | -€7,367 | -79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,272 | €1,905 | -€7,367 | -79.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.