87 SECONDS: 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.
87 SECONDS
Largest movements
- Receivables within one year -€133,821
down €133,821 (-28.2%), from €473,863 to €340,042
of which Other amounts receivable: -€242,090
- Financial fixed assets -€48,557
down €48,557 (-54.3%), from €89,428 to €40,871
- Cash -€12,139
down €12,139 (-25.1%), from €48,373 to €36,234
mainly Net result for the year (-€789,241) and Tax, wage and social debts (-€58,442)
- Deferred charges and accrued income -€11,355
down €11,355 (-29.3%), from €38,786 to €27,432
- Tangible fixed assets +€8,511
up €8,511 (+154%), from €5,543 to €14,053
- Profit (loss) carried forward -€789,241
down €789,241 (-75.7%), from -€1.0m to -€1.8m
- Other debts +€536,032
up €536,032 (+56.1%), from €955,122 to €1.5m
- Trade debts +€144,245
up €144,245 (+29.7%), from €486,482 to €630,727
- Tax, wage and social debts -€58,442
down €58,442 (-36.1%), from €161,970 to €103,528
of which Taxes: -€55,329
- Provisions -€25,000
no longer reported in 2025 (was €25,000)
- Gross operating margin -€235,828
down €235,828, from €113,265 to -€122,564
- Other operating charges +€61,725
up €61,725 (+1,977%), from €3,123 to €64,848
- Staff costs +€52,741
up €52,741 (+10.7%), from €493,700 to €546,441
- Provisions -€40,000
down €40,000, from €15,000 to -€25,000
- Financial income +€15,384
up €15,384 (+9,138%), from €168 to €15,553
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 | €668,648 | €465,919 | -€202,728 | -30.3% |
| Fixed assets | 21/28 | €107,625 | €62,211 | -€45,414 | -42.2% |
| Intangible fixed assets | 21 | €12,655 | €7,287 | -€5,368 | -42.4% |
| Tangible fixed assets | 22/27 | €5,543 | €14,053 | +€8,511 | +154% |
| Furniture and vehicles | 24 | €5,543 | €14,053 | +€8,511 | +154% |
| Financial fixed assets | 28 | €89,428 | €40,871 | -€48,557 | -54.3% |
| Current assets | 29/58 | €561,023 | €403,708 | -€157,315 | -28.0% |
| Amounts receivable within one year | 40/41 | €473,863 | €340,042 | -€133,821 | -28.2% |
| Trade receivables | 40 | €231,662 | €339,931 | +€108,269 | +46.7% |
| Other amounts receivable | 41 | €242,201 | €112 | -€242,090 | -100.0% |
| Cash at bank and in hand | 54/58 | €48,373 | €36,234 | -€12,139 | -25.1% |
| Deferred charges and accrued income | 490/1 | €38,786 | €27,432 | -€11,355 | -29.3% |
| Total equity and liabilities | 10/49 | €668,648 | €465,919 | -€202,728 | -30.3% |
| Equity | 10/15 | -€975,572 | -€1,764,814 | -€789,241 | -80.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,043,222 | -€1,832,464 | -€789,241 | -75.7% |
| Provisions and deferred taxes | 16 | €25,000 | - | -€25,000 | |
| Provisions for liabilities and charges | 160/5 | €25,000 | - | -€25,000 | |
| Pensions and similar obligations | 160 | €25,000 | - | -€25,000 | |
| Amounts payable | 17/49 | €1,619,220 | €2,230,733 | +€611,513 | +37.8% |
| Amounts payable within one year | 42/48 | €1,603,573 | €2,225,409 | +€621,836 | +38.8% |
| Trade debts | 44 | €486,482 | €630,727 | +€144,245 | +29.7% |
| Suppliers | 440/4 | €486,482 | €630,727 | +€144,245 | +29.7% |
| Taxes, remuneration and social security | 45 | €161,970 | €103,528 | -€58,442 | -36.1% |
| Taxes | 450/3 | €85,034 | €29,705 | -€55,329 | -65.1% |
| Remuneration and social security | 454/9 | €76,936 | €73,823 | -€3,113 | -4.0% |
| Other amounts payable | 47/48 | €955,122 | €1,491,154 | +€536,032 | +56.1% |
| Accrued charges and deferred income | 492/3 | €15,647 | €5,324 | -€10,323 | -66.0% |
| Non-recurring operating income | 76A | €242,898 | - | -€242,898 | |
| Remuneration, social security and pensions | 62 | €493,700 | €546,441 | +€52,741 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,411 | €10,185 | -€8,226 | -44.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,185 | - | +€4,185 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €15,000 | -€25,000 | -€40,000 | |
| Other operating charges | 640/8 | €3,123 | €64,848 | +€61,725 | +1,977% |
| Non-recurring operating charges | 66A | €236,714 | - | -€236,714 | |
| Gross operating margin | 9900 | €113,265 | -€122,564 | -€235,828 | |
| Operating profit (loss) | 9901 | -€649,498 | -€719,038 | -€69,539 | -10.7% |
| Financial income | 75/76B | €168 | €15,553 | +€15,384 | +9,138% |
| Recurring financial income | 75 | €168 | €15,553 | +€15,384 | +9,138% |
| Financial charges | 65/66B | €100,748 | €85,631 | -€15,117 | -15.0% |
| Recurring financial charges | 65 | €100,748 | €42,132 | -€58,617 | -58.2% |
| Non-recurring financial charges | 66B | - | €43,500 | +€43,500 | |
| Profit (loss) for the period before taxes | 9903 | -€750,078 | -€789,116 | -€39,038 | -5.2% |
| Income taxes | 67/77 | - | €125 | +€125 | |
| Profit (loss) for the period | 9904 | -€750,078 | -€789,241 | -€39,163 | -5.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€750,078 | -€789,241 | -€39,163 | -5.2% |
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 13 October 2026 via checked.be.