A+: 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.
A+
Largest movements
- Cash -€49,509
down €49,509 (-80.3%), from €61,677 to €12,168
mainly Current investments (-€30,166) and Tax, wage and social debts (-€15,715)
- Current investments +€30,166
up €30,166 (+201%), from €15,000 to €45,166
- Receivables within one year +€3,682
up €3,682 (+859%), from €429 to €4,111
of which Other amounts receivable: +€2,037
- Deferred charges and accrued income -€1,029
no longer reported in 2025 (was €1,029)
- Tax, wage and social debts -€15,715
down €15,715 (-100.0%), from €15,720 to €5
- Trade debts +€4,879
new in 2025: €4,879
- Other debts -€3,423
no longer reported in 2025 (was €3,423)
- Reserves -€2,431
down €2,431 (-4.3%), from €56,492 to €54,061
- Gross operating margin -€14,168
down €14,168, from €11,795 to -€2,373
- Taxes -€3,165
no longer reported in 2025 (was €3,165)
- Financial income +€248
new in 2025: €248
- Financial charges -€201
down €201 (-76.6%), from €262 to €61
- Other operating charges +€144
up €144 (+144%), from €100 to €244
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 | €78,135 | €61,445 | -€16,690 | -21.4% |
| Current assets | 29/58 | €78,135 | €61,445 | -€16,690 | -21.4% |
| Amounts receivable within one year | 40/41 | €429 | €4,111 | +€3,682 | +859% |
| Trade receivables | 40 | €429 | €2,074 | +€1,646 | +384% |
| Other amounts receivable | 41 | - | €2,037 | +€2,037 | |
| Current investments | 50/53 | €15,000 | €45,166 | +€30,166 | +201% |
| Cash at bank and in hand | 54/58 | €61,677 | €12,168 | -€49,509 | -80.3% |
| Deferred charges and accrued income | 490/1 | €1,029 | - | -€1,029 | |
| Total equity and liabilities | 10/49 | €78,135 | €61,445 | -€16,690 | -21.4% |
| Equity | 10/15 | €58,992 | €56,561 | -€2,431 | -4.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €56,492 | €54,061 | -€2,431 | -4.3% |
| Distributable reserves | 133 | €56,492 | €54,061 | -€2,431 | -4.3% |
| Amounts payable | 17/49 | €19,143 | €4,884 | -€14,259 | -74.5% |
| Amounts payable within one year | 42/48 | €19,143 | €4,884 | -€14,259 | -74.5% |
| Trade debts | 44 | - | €4,879 | +€4,879 | |
| Suppliers | 440/4 | - | €4,879 | +€4,879 | |
| Taxes, remuneration and social security | 45 | €15,720 | €5 | -€15,715 | -100.0% |
| Taxes | 450/3 | €15,720 | €5 | -€15,715 | -100.0% |
| Other amounts payable | 47/48 | €3,423 | - | -€3,423 | |
| Other operating charges | 640/8 | €100 | €244 | +€144 | +144% |
| Gross operating margin | 9900 | €11,795 | -€2,373 | -€14,168 | |
| Operating profit (loss) | 9901 | €11,695 | -€2,617 | -€14,312 | |
| Financial income | 75/76B | - | €248 | +€248 | |
| Recurring financial income | 75 | - | €248 | +€248 | |
| Financial charges | 65/66B | €262 | €61 | -€201 | -76.6% |
| Recurring financial charges | 65 | €262 | €61 | -€201 | -76.6% |
| Profit (loss) for the period before taxes | 9903 | €11,433 | -€2,431 | -€13,864 | |
| Income taxes | 67/77 | €3,165 | - | -€3,165 | |
| Profit (loss) for the period | 9904 | €8,268 | -€2,431 | -€10,699 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,268 | -€2,431 | -€10,699 |
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 25 October 2026 via checked.be.