5E: 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.
5E
Largest movements
- Receivables within one year -€91,090
down €91,090 (-87.9%), from €103,666 to €12,576
of which Trade receivables: -€89,973
- Cash +€47,362
up €47,362 (+3423.4%), from €1,384 to €48,746
mainly Receivables within one year (+€91,090) and Trade debts (+€12,216)
- Tangible fixed assets -€1,927
down €1,927 (-48.4%), from €3,979 to €2,052
- Profit (loss) carried forward -€60,622
down €60,622 (-539.2%), from -€11,243 to -€71,865
- Trade debts +€12,216
up €12,216 (+815.7%), from €1,497 to €13,713
- Other debts +€5,979
up €5,979 (+5.3%), from €112,436 to €118,415
- Tax, wage and social debts -€3,724
down €3,724 (-95.0%), from €3,920 to €196
- Gross operating margin -€47,718
down €47,718 (-333.1%), from -€14,326 to -€62,044
- Financial income +€4,080
new in 2025: €4,080
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 | €109,610 | €63,459 | -€46,151 | -42.1% |
| Fixed assets | 21/28 | €3,979 | €2,052 | -€1,927 | -48.4% |
| Tangible fixed assets | 22/27 | €3,979 | €2,052 | -€1,927 | -48.4% |
| Furniture and vehicles | 24 | €3,979 | €2,052 | -€1,927 | -48.4% |
| Current assets | 29/58 | €105,631 | €61,407 | -€44,224 | -41.9% |
| Amounts receivable within one year | 40/41 | €103,666 | €12,576 | -€91,090 | -87.9% |
| Trade receivables | 40 | €101,507 | €11,534 | -€89,973 | -88.6% |
| Other amounts receivable | 41 | €2,159 | €1,042 | -€1,118 | -51.8% |
| Cash at bank and in hand | 54/58 | €1,384 | €48,746 | +€47,362 | +3423.4% |
| Deferred charges and accrued income | 490/1 | €581 | €85 | -€496 | -85.3% |
| Total equity and liabilities | 10/49 | €109,610 | €63,459 | -€46,151 | -42.1% |
| Equity | 10/15 | -€8,243 | -€68,865 | -€60,622 | -735.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,243 | -€71,865 | -€60,622 | -539.2% |
| Amounts payable | 17/49 | €117,853 | €132,324 | +€14,471 | +12.3% |
| Amounts payable within one year | 42/48 | €117,853 | €132,324 | +€14,471 | +12.3% |
| Trade debts | 44 | €1,497 | €13,713 | +€12,216 | +815.7% |
| Suppliers | 440/4 | €1,497 | €13,713 | +€12,216 | +815.7% |
| Taxes, remuneration and social security | 45 | €3,920 | €196 | -€3,724 | -95.0% |
| Taxes | 450/3 | €3,920 | €196 | -€3,724 | -95.0% |
| Other amounts payable | 47/48 | €112,436 | €118,415 | +€5,979 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,466 | €1,927 | +€461 | +31.4% |
| Other operating charges | 640/8 | €510 | €526 | +€16 | +3.1% |
| Gross operating margin | 9900 | -€14,326 | -€62,044 | -€47,718 | -333.1% |
| Operating profit (loss) | 9901 | -€16,302 | -€64,497 | -€48,195 | -295.6% |
| Financial income | 75/76B | - | €4,080 | +€4,080 | |
| Recurring financial income | 75 | - | €4,080 | +€4,080 | |
| Financial charges | 65/66B | €225 | €91 | -€134 | -59.6% |
| Recurring financial charges | 65 | €225 | €91 | -€134 | -59.6% |
| Profit (loss) for the period before taxes | 9903 | -€16,526 | -€60,508 | -€43,981 | -266.1% |
| Income taxes | 67/77 | €81 | €114 | +€33 | +40.4% |
| Profit (loss) for the period | 9904 | -€16,608 | -€60,622 | -€44,014 | -265.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,608 | -€60,622 | -€44,014 | -265.0% |
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 4 October 2026 via checked.be.