2UPGRADE: 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.
2UPGRADE
Largest movements
- Financial fixed assets -€3,850
down €3,850 (-97.2%), from €3,960 to €110
- Receivables within one year -€2,739
down €2,739 (-16.2%), from €16,950 to €14,211
of which Trade receivables: -€3,870
- Stocks and contracts -€1,939
down €1,939 (-28.5%), from €6,796 to €4,857
- Tangible fixed assets -€1,446
down €1,446 (-80.3%), from €1,800 to €354
of which Furniture and vehicles: -€890
- Deferred charges and accrued income -€784
down €784 (-27.3%), from €2,873 to €2,089
- Trade debts -€24,493
down €24,493 (-66.7%), from €36,720 to €12,227
- Profit (loss) carried forward +€12,479
up €12,479, from -€11,211 to €1,269
- Other debts +€9,474
up €9,474 (+1,698%), from €558 to €10,031
- Tax, wage and social debts -€4,076
down €4,076 (-63.2%), from €6,452 to €2,376
of which Taxes: -€3,528
- Current portion of long-term debt -€3,510
no longer reported in 2025 (was €3,510)
- Gross operating margin +€38,006
up €38,006, from -€4,183 to €33,823
- Other operating charges -€6,911
down €6,911 (-45.4%), from €15,205 to €8,295
- Financial charges +€2,910
up €2,910 (+133%), from €2,187 to €5,098
of which Non-recurring financial charges: +€3,850
- Taxes +€1,591
up €1,591 (+74.1%), from €2,147 to €3,738
- Depreciation -€619
down €619 (-30.0%), from €2,065 to €1,446
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 | €38,029 | €27,902 | -€10,127 | -26.6% |
| Fixed assets | 21/28 | €5,760 | €464 | -€5,296 | -91.9% |
| Tangible fixed assets | 22/27 | €1,800 | €354 | -€1,446 | -80.3% |
| Plant, machinery and equipment | 23 | €593 | €194 | -€399 | -67.2% |
| Furniture and vehicles | 24 | €947 | €57 | -€890 | -94.0% |
| Leasing and similar rights | 25 | €260 | €103 | -€158 | -60.5% |
| Financial fixed assets | 28 | €3,960 | €110 | -€3,850 | -97.2% |
| Current assets | 29/58 | €32,269 | €27,438 | -€4,830 | -15.0% |
| Stocks and contracts in progress | 3 | €6,796 | €4,857 | -€1,939 | -28.5% |
| Stocks | 30/36 | €6,796 | €4,857 | -€1,939 | -28.5% |
| Amounts receivable within one year | 40/41 | €16,950 | €14,211 | -€2,739 | -16.2% |
| Trade receivables | 40 | €16,616 | €12,746 | -€3,870 | -23.3% |
| Other amounts receivable | 41 | €333 | €1,464 | +€1,131 | +339% |
| Cash at bank and in hand | 54/58 | €5,650 | €6,282 | +€632 | +11.2% |
| Deferred charges and accrued income | 490/1 | €2,873 | €2,089 | -€784 | -27.3% |
| Total equity and liabilities | 10/49 | €38,029 | €27,902 | -€10,127 | -26.6% |
| Equity | 10/15 | -€9,211 | €3,269 | +€12,479 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,211 | €1,269 | +€12,479 | |
| Amounts payable | 17/49 | €47,240 | €24,634 | -€22,606 | -47.9% |
| Amounts payable within one year | 42/48 | €47,240 | €24,634 | -€22,606 | -47.9% |
| Current portion of amounts payable after more than one year | 42 | €3,510 | - | -€3,510 | |
| Trade debts | 44 | €36,720 | €12,227 | -€24,493 | -66.7% |
| Suppliers | 440/4 | €36,720 | €12,227 | -€24,493 | -66.7% |
| Taxes, remuneration and social security | 45 | €6,452 | €2,376 | -€4,076 | -63.2% |
| Taxes | 450/3 | €4,704 | €1,176 | -€3,528 | -75.0% |
| Remuneration and social security | 454/9 | €1,748 | €1,200 | -€548 | -31.4% |
| Other amounts payable | 47/48 | €558 | €10,031 | +€9,474 | +1,698% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,065 | €1,446 | -€619 | -30.0% |
| Other operating charges | 640/8 | €15,205 | €8,295 | -€6,911 | -45.4% |
| Non-recurring operating charges | 66A | - | €3,372 | +€3,372 | |
| Gross operating margin | 9900 | -€4,183 | €33,823 | +€38,006 | |
| Operating profit (loss) | 9901 | -€21,454 | €20,710 | +€42,164 | |
| Financial income | 75/76B | €174 | €605 | +€431 | +247% |
| Recurring financial income | 75 | €174 | €605 | +€431 | +247% |
| Financial charges | 65/66B | €2,187 | €5,098 | +€2,910 | +133% |
| Recurring financial charges | 65 | €2,187 | €1,248 | -€940 | -43.0% |
| Non-recurring financial charges | 66B | - | €3,850 | +€3,850 | |
| Profit (loss) for the period before taxes | 9903 | -€23,467 | €16,218 | +€39,684 | |
| Income taxes | 67/77 | €2,147 | €3,738 | +€1,591 | +74.1% |
| Profit (loss) for the period | 9904 | -€25,614 | €12,479 | +€38,093 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,614 | €12,479 | +€38,093 |
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 29 October 2026 via checked.be.