A Core: 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.
A Core
Largest movements
- Cash +€30,234
up €30,234 (+152.5%), from €19,822 to €50,056
mainly Receivables within one year (+€20,491) and Depreciation (+€11,667)
- Receivables within one year -€20,491
down €20,491 (-54.0%), from €37,917 to €17,426
of which Trade receivables: -€27,465
- Tangible fixed assets -€10,465
down €10,465 (-42.0%), from €24,920 to €14,455
of which Furniture and vehicles: -€9,710
- Deferred charges and accrued income +€5,482
up €5,482 (+354.6%), from €1,546 to €7,028
- Profit (loss) carried forward +€10,494
no longer reported in 2025 (was -€10,494)
- Tax, wage and social debts -€9,574
down €9,574 (-94.1%), from €10,176 to €601
- Debts after one year -€9,142
no longer reported in 2025 (was €9,142)
- Accrued charges and deferred income +€6,346
up €6,346 (+105.6%), from €6,012 to €12,357
- Trade debts +€3,753
up €3,753 (+87.1%), from €4,307 to €8,059
- Gross operating margin +€18,871
up €18,871 (+209.6%), from €9,004 to €27,875
- Taxes +€7,810
up €7,810 (+563.5%), from €1,386 to €9,196
- Financial income +€2,203
up €2,203 (+195.8%), from €1,125 to €3,328
of which Non-recurring financial income: +€2,203
- Depreciation -€725
down €725 (-5.8%), from €12,391 to €11,667
- Financial charges -€291
down €291 (-53.6%), from €543 to €252
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 | €97,154 | €101,914 | +€4,760 | +4.9% |
| Fixed assets | 21/28 | €25,170 | €14,705 | -€10,465 | -41.6% |
| Tangible fixed assets | 22/27 | €24,920 | €14,455 | -€10,465 | -42.0% |
| Land and buildings | 22 | €1,568 | €1,517 | -€50 | -3.2% |
| Plant, machinery and equipment | 23 | €2,404 | €1,699 | -€705 | -29.3% |
| Furniture and vehicles | 24 | €20,948 | €11,238 | -€9,710 | -46.4% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €71,985 | €87,210 | +€15,225 | +21.1% |
| Stocks and contracts in progress | 3 | €12,700 | €12,700 | = | 0.0% |
| Stocks | 30/36 | €12,700 | €12,700 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €37,917 | €17,426 | -€20,491 | -54.0% |
| Trade receivables | 40 | €34,024 | €6,559 | -€27,465 | -80.7% |
| Other amounts receivable | 41 | €3,894 | €10,868 | +€6,974 | +179.1% |
| Cash at bank and in hand | 54/58 | €19,822 | €50,056 | +€30,234 | +152.5% |
| Deferred charges and accrued income | 490/1 | €1,546 | €7,028 | +€5,482 | +354.6% |
| Total equity and liabilities | 10/49 | €97,154 | €101,914 | +€4,760 | +4.9% |
| Equity | 10/15 | €57,429 | €70,094 | +€12,665 | +22.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Capital | 10 | €3,000 | €3,000 | = | 0.0% |
| Issued capital | 100 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €64,923 | €67,094 | +€2,170 | +3.3% |
| Distributable reserves | 133 | €64,923 | €67,094 | +€2,170 | +3.3% |
| Profit (loss) carried forward | 14 | -€10,494 | - | +€10,494 | |
| Amounts payable | 17/49 | €39,725 | €31,821 | -€7,905 | -19.9% |
| Amounts payable after more than one year | 17 | €9,142 | - | -€9,142 | |
| Financial debts | 170/4 | €9,142 | - | -€9,142 | |
| Amounts payable within one year | 42/48 | €24,572 | €19,463 | -€5,109 | -20.8% |
| Current portion of amounts payable after more than one year | 42 | €8,842 | €8,972 | +€130 | +1.5% |
| Trade debts | 44 | €4,307 | €8,059 | +€3,753 | +87.1% |
| Suppliers | 440/4 | €4,307 | €8,059 | +€3,753 | +87.1% |
| Taxes, remuneration and social security | 45 | €10,176 | €601 | -€9,574 | -94.1% |
| Taxes | 450/3 | €10,176 | €601 | -€9,574 | -94.1% |
| Other amounts payable | 47/48 | €1,247 | €1,831 | +€583 | +46.7% |
| Accrued charges and deferred income | 492/3 | €6,012 | €12,357 | +€6,346 | +105.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,391 | €11,667 | -€725 | -5.8% |
| Other operating charges | 640/8 | €1,218 | €1,188 | -€29 | -2.4% |
| Gross operating margin | 9900 | €9,004 | €27,875 | +€18,871 | +209.6% |
| Operating profit (loss) | 9901 | -€4,605 | €15,020 | +€19,625 | |
| Financial income | 75/76B | €1,125 | €3,328 | +€2,203 | +195.8% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Non-recurring financial income | 76B | €1,125 | €3,328 | +€2,203 | +195.8% |
| Financial charges | 65/66B | €543 | €252 | -€291 | -53.6% |
| Recurring financial charges | 65 | €543 | €252 | -€291 | -53.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,022 | €18,097 | +€22,119 | |
| Income taxes | 67/77 | €1,386 | €9,196 | +€7,810 | +563.5% |
| Profit (loss) for the period | 9904 | -€5,408 | €8,900 | +€14,308 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,408 | €8,900 | +€14,308 |
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 1 October 2026 via checked.be.