51DEALS: 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.
51DEALS
Largest movements
- Receivables within one year +€91,775
up €91,775 (+8.9%), from €1.0m to €1.1m
of which Other amounts receivable: +€83,316
- Cash +€64,386
up €64,386 (+937%), from €6,872 to €71,258
mainly Debts after one year (+€200,000) and Trade debts (+€19,062)
- Stocks and contracts +€48,872
up €48,872 (+13.2%), from €370,000 to €418,872
- Debts after one year +€200,000
up €200,000 (+10.8%), from €1.9m to €2.1m
- Trade debts +€19,062
up €19,062 (+700%), from €2,723 to €21,785
- Profit (loss) carried forward -€18,316
down €18,316 (-4.1%), from -€450,225 to -€468,542
- Write-downs -€437,342
no longer reported in 2025 (was €437,342)
- Gross operating margin -€87,710
down €87,710, from €61,390 to -€26,320
- Financial charges -€3,151
down €3,151 (-97.7%), from €3,225 to €74
- Financial income -€1,070
down €1,070 (-11.1%), from €9,615 to €8,545
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 | €1,416,348 | €1,622,569 | +€206,221 | +14.6% |
| Fixed assets | 21/28 | €2,880 | €2,660 | -€220 | -7.6% |
| Tangible fixed assets | 22/27 | €1,880 | €1,660 | -€220 | -11.7% |
| Furniture and vehicles | 24 | €1,880 | €1,660 | -€220 | -11.7% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €1,413,468 | €1,619,909 | +€206,441 | +14.6% |
| Stocks and contracts in progress | 3 | €370,000 | €418,872 | +€48,872 | +13.2% |
| Stocks | 30/36 | €370,000 | €418,872 | +€48,872 | +13.2% |
| Amounts receivable within one year | 40/41 | €1,036,004 | €1,127,779 | +€91,775 | +8.9% |
| Trade receivables | 40 | €1,104 | €9,563 | +€8,459 | +766% |
| Other amounts receivable | 41 | €1,034,900 | €1,118,216 | +€83,316 | +8.1% |
| Cash at bank and in hand | 54/58 | €6,872 | €71,258 | +€64,386 | +937% |
| Deferred charges and accrued income | 490/1 | €592 | €2,000 | +€1,408 | +238% |
| Total equity and liabilities | 10/49 | €1,416,348 | €1,622,569 | +€206,221 | +14.6% |
| Equity | 10/15 | -€447,225 | -€465,542 | -€18,316 | -4.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€450,225 | -€468,542 | -€18,316 | -4.1% |
| Amounts payable | 17/49 | €1,863,574 | €2,088,111 | +€224,537 | +12.0% |
| Amounts payable after more than one year | 17 | €1,860,000 | €2,060,000 | +€200,000 | +10.8% |
| Financial debts | 170/4 | €1,860,000 | €2,060,000 | +€200,000 | +10.8% |
| Amounts payable within one year | 42/48 | €3,574 | €27,858 | +€24,284 | +680% |
| Trade debts | 44 | €2,723 | €21,785 | +€19,062 | +700% |
| Suppliers | 440/4 | €2,723 | €21,785 | +€19,062 | +700% |
| Taxes, remuneration and social security | 45 | - | €38 | +€38 | |
| Taxes | 450/3 | - | €38 | +€38 | |
| Other amounts payable | 47/48 | €851 | €6,035 | +€5,185 | +609% |
| Accrued charges and deferred income | 492/3 | - | €253 | +€253 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €220 | €220 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €437,342 | - | -€437,342 | |
| Other operating charges | 640/8 | €500 | €248 | -€253 | -50.5% |
| Gross operating margin | 9900 | €61,390 | -€26,320 | -€87,710 | |
| Operating profit (loss) | 9901 | -€376,672 | -€26,788 | +€349,884 | +92.9% |
| Financial income | 75/76B | €9,615 | €8,545 | -€1,070 | -11.1% |
| Recurring financial income | 75 | €9,615 | €8,545 | -€1,070 | -11.1% |
| Financial charges | 65/66B | €3,225 | €74 | -€3,151 | -97.7% |
| Recurring financial charges | 65 | €3,225 | €74 | -€3,151 | -97.7% |
| Profit (loss) for the period before taxes | 9903 | -€370,282 | -€18,316 | +€351,966 | +95.1% |
| Profit (loss) for the period | 9904 | -€370,282 | -€18,316 | +€351,966 | +95.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€370,282 | -€18,316 | +€351,966 | +95.1% |
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.