42 Reasons: 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.
42 Reasons
Largest movements
- Cash -€19,963
down €19,963 (-61.9%), from €32,254 to €12,292
mainly Current investments (-€14,715) and Debts after one year (-€12,428)
- Tangible fixed assets -€15,459
down €15,459 (-38.1%), from €40,575 to €25,116
- Current investments +€14,715
up €14,715 (+20.0%), from €73,513 to €88,228
- Profit (loss) carried forward +€13,584
up €13,584 (+37.4%), from €36,321 to €49,905
- Debts after one year -€12,428
down €12,428 (-62.4%), from €19,918 to €7,489
- Accrued charges and deferred income -€9,588
down €9,588 (-15.5%), from €62,037 to €52,449
- Tax, wage and social debts -€6,535
down €6,535 (-43.7%), from €14,944 to €8,409
- Trade debts -€4,611
down €4,611 (-78.6%), from €5,868 to €1,256
- Gross operating margin +€13,858
up €13,858 (+65.8%), from €21,073 to €34,932
- Taxes +€3,217
up €3,217 (+233%), from €1,378 to €4,595
- Financial income +€1,245
up €1,245 (+121%), from €1,025 to €2,269
- Financial charges -€750
down €750 (-30.2%), from €2,482 to €1,731
- Depreciation -€646
down €646 (-4.0%), from €16,105 to €15,459
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 | €161,113 | €140,385 | -€20,729 | -12.9% |
| Fixed assets | 21/28 | €40,575 | €25,116 | -€15,459 | -38.1% |
| Tangible fixed assets | 22/27 | €40,575 | €25,116 | -€15,459 | -38.1% |
| Leasing and similar rights | 25 | €40,575 | €25,116 | -€15,459 | -38.1% |
| Current assets | 29/58 | €120,538 | €115,269 | -€5,269 | -4.4% |
| Amounts receivable within one year | 40/41 | €6,879 | €7,172 | +€292 | +4.2% |
| Trade receivables | 40 | €1,753 | €2,614 | +€861 | +49.1% |
| Other amounts receivable | 41 | €5,126 | €4,558 | -€568 | -11.1% |
| Current investments | 50/53 | €73,513 | €88,228 | +€14,715 | +20.0% |
| Cash at bank and in hand | 54/58 | €32,254 | €12,292 | -€19,963 | -61.9% |
| Deferred charges and accrued income | 490/1 | €7,892 | €7,578 | -€314 | -4.0% |
| Total equity and liabilities | 10/49 | €161,113 | €140,385 | -€20,729 | -12.9% |
| Equity | 10/15 | €41,321 | €54,905 | +€13,584 | +32.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,321 | €49,905 | +€13,584 | +37.4% |
| Amounts payable | 17/49 | €119,793 | €85,480 | -€34,313 | -28.6% |
| Amounts payable after more than one year | 17 | €19,918 | €7,489 | -€12,428 | -62.4% |
| Financial debts | 170/4 | €19,918 | €7,489 | -€12,428 | -62.4% |
| Amounts payable within one year | 42/48 | €37,838 | €25,542 | -€12,297 | -32.5% |
| Current portion of amounts payable after more than one year | 42 | €11,927 | €12,428 | +€501 | +4.2% |
| Financial debts | 43 | - | €1,685 | +€1,685 | |
| Credit institutions | 430/8 | - | €1,685 | +€1,685 | |
| Trade debts | 44 | €5,868 | €1,256 | -€4,611 | -78.6% |
| Suppliers | 440/4 | €5,868 | €1,256 | -€4,611 | -78.6% |
| Taxes, remuneration and social security | 45 | €14,944 | €8,409 | -€6,535 | -43.7% |
| Taxes | 450/3 | €14,944 | €8,409 | -€6,535 | -43.7% |
| Other amounts payable | 47/48 | €5,100 | €1,763 | -€3,337 | -65.4% |
| Accrued charges and deferred income | 492/3 | €62,037 | €52,449 | -€9,588 | -15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,105 | €15,459 | -€646 | -4.0% |
| Other operating charges | 640/8 | €2,246 | €1,831 | -€415 | -18.5% |
| Gross operating margin | 9900 | €21,073 | €34,932 | +€13,858 | +65.8% |
| Operating profit (loss) | 9901 | €2,722 | €17,641 | +€14,920 | +548% |
| Financial income | 75/76B | €1,025 | €2,269 | +€1,245 | +121% |
| Recurring financial income | 75 | €1,025 | €2,269 | +€1,245 | +121% |
| Financial charges | 65/66B | €2,482 | €1,731 | -€750 | -30.2% |
| Recurring financial charges | 65 | €2,482 | €1,731 | -€750 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €1,265 | €18,179 | +€16,915 | +1,337% |
| Income taxes | 67/77 | €1,378 | €4,595 | +€3,217 | +233% |
| Profit (loss) for the period | 9904 | -€114 | €13,584 | +€13,698 | |
| Profit (loss) for the period to be appropriated | 9905 | -€114 | €13,584 | +€13,698 |
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 31 October 2026 via checked.be.