2X: 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.
2X
Largest movements
- Tangible fixed assets -€23,086
down €23,086 (-34.3%), from €67,300 to €44,214
- Cash -€2,382
down €2,382 (-26.0%), from €9,155 to €6,773
mainly Debts after one year (-€15,421) and Net result for the year (-€11,346)
- Receivables within one year -€1,861
down €1,861 (-3.2%), from €58,991 to €57,130
of which Trade receivables: -€1,361
- Debts after one year -€15,421
down €15,421 (-61.4%), from €25,106 to €9,685
- Profit (loss) carried forward -€11,346
down €11,346 (-36.7%), from -€30,920 to -€42,266
- Current portion of long-term debt -€2,648
down €2,648 (-14.7%), from €18,069 to €15,421
- Trade debts +€2,086
up €2,086 (+79.3%), from €2,632 to €4,718
- Depreciation -€7,529
down €7,529 (-24.6%), from €30,616 to €23,086
- Gross operating margin +€6,888
up €6,888 (+99.7%), from €6,910 to €13,798
- Financial charges -€425
down €425 (-22.8%), from €1,866 to €1,441
- Other operating charges -€298
down €298 (-32.6%), from €915 to €617
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 | €135,446 | €108,117 | -€27,330 | -20.2% |
| Fixed assets | 21/28 | €67,300 | €44,214 | -€23,086 | -34.3% |
| Tangible fixed assets | 22/27 | €67,300 | €44,214 | -€23,086 | -34.3% |
| Plant, machinery and equipment | 23 | €67,300 | €44,214 | -€23,086 | -34.3% |
| Current assets | 29/58 | €68,146 | €63,903 | -€4,243 | -6.2% |
| Amounts receivable within one year | 40/41 | €58,991 | €57,130 | -€1,861 | -3.2% |
| Trade receivables | 40 | €3,783 | €2,422 | -€1,361 | -36.0% |
| Other amounts receivable | 41 | €55,209 | €54,708 | -€501 | -0.9% |
| Cash at bank and in hand | 54/58 | €9,155 | €6,773 | -€2,382 | -26.0% |
| Total equity and liabilities | 10/49 | €135,446 | €108,117 | -€27,330 | -20.2% |
| Equity | 10/15 | €89,639 | €78,293 | -€11,346 | -12.7% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €559 | €559 | = | 0.0% |
| Distributable reserves | 133 | €559 | €559 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,920 | -€42,266 | -€11,346 | -36.7% |
| Amounts payable | 17/49 | €45,807 | €29,824 | -€15,983 | -34.9% |
| Amounts payable after more than one year | 17 | €25,106 | €9,685 | -€15,421 | -61.4% |
| Financial debts | 170/4 | €25,106 | €9,685 | -€15,421 | -61.4% |
| Amounts payable within one year | 42/48 | €20,701 | €20,139 | -€562 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €18,069 | €15,421 | -€2,648 | -14.7% |
| Trade debts | 44 | €2,632 | €4,718 | +€2,086 | +79.3% |
| Suppliers | 440/4 | €2,632 | €4,718 | +€2,086 | +79.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,616 | €23,086 | -€7,529 | -24.6% |
| Other operating charges | 640/8 | €915 | €617 | -€298 | -32.6% |
| Gross operating margin | 9900 | €6,910 | €13,798 | +€6,888 | +99.7% |
| Operating profit (loss) | 9901 | -€24,621 | -€9,905 | +€14,715 | +59.8% |
| Financial charges | 65/66B | €1,866 | €1,441 | -€425 | -22.8% |
| Recurring financial charges | 65 | €1,866 | €1,441 | -€425 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | -€26,486 | -€11,346 | +€15,140 | +57.2% |
| Profit (loss) for the period | 9904 | -€26,486 | -€11,346 | +€15,140 | +57.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,486 | -€11,346 | +€15,140 | +57.2% |
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 30 September 2026 via checked.be.