A. Design: 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. Design
Largest movements
- Receivables within one year +€13,882
up €13,882 (+906.3%), from €1,532 to €15,414
of which Trade receivables: +€13,953
- Cash -€6,430
down €6,430 (-36.4%), from €17,652 to €11,222
mainly Receivables within one year (-€13,882) and Deferred charges and accrued income (-€640)
- Stocks and contracts -€5,246
down €5,246 (-36.2%), from €14,500 to €9,254
- Deferred charges and accrued income +€640
up €640 (+121.3%), from €528 to €1,168
- Other debts +€1,024
up €1,024 (+1.5%), from €68,227 to €69,252
- Trade debts +€818
up €818 (+62.3%), from €1,312 to €2,129
- Tax, wage and social debts +€628
up €628 (+378.4%), from €166 to €793
- Gross operating margin -€6,429
down €6,429 (-79.4%), from €8,096 to €1,667
- Depreciation +€129
up €129 (+33.7%), from €385 to €514
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 | €38,425 | €41,291 | +€2,865 | +7.5% |
| Fixed assets | 21/28 | €4,213 | €4,233 | +€19 | +0.5% |
| Tangible fixed assets | 22/27 | €3,367 | €3,386 | +€19 | +0.6% |
| Plant, machinery and equipment | 23 | €3,367 | €3,386 | +€19 | +0.6% |
| Financial fixed assets | 28 | €847 | €847 | = | 0.0% |
| Current assets | 29/58 | €34,212 | €37,058 | +€2,846 | +8.3% |
| Stocks and contracts in progress | 3 | €14,500 | €9,254 | -€5,246 | -36.2% |
| Stocks | 30/36 | €14,500 | €9,254 | -€5,246 | -36.2% |
| Amounts receivable within one year | 40/41 | €1,532 | €15,414 | +€13,882 | +906.3% |
| Trade receivables | 40 | €1,212 | €15,165 | +€13,953 | +1151.7% |
| Other amounts receivable | 41 | €320 | €249 | -€71 | -22.2% |
| Cash at bank and in hand | 54/58 | €17,652 | €11,222 | -€6,430 | -36.4% |
| Deferred charges and accrued income | 490/1 | €528 | €1,168 | +€640 | +121.3% |
| Total equity and liabilities | 10/49 | €38,425 | €41,291 | +€2,865 | +7.5% |
| Equity | 10/15 | -€31,279 | -€30,884 | +€395 | +1.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,479 | -€99,084 | +€395 | +0.4% |
| Amounts payable | 17/49 | €69,705 | €72,174 | +€2,470 | +3.5% |
| Amounts payable within one year | 42/48 | €69,705 | €72,174 | +€2,470 | +3.5% |
| Trade debts | 44 | €1,312 | €2,129 | +€818 | +62.3% |
| Suppliers | 440/4 | €1,312 | €2,129 | +€818 | +62.3% |
| Taxes, remuneration and social security | 45 | €166 | €793 | +€628 | +378.4% |
| Taxes | 450/3 | €166 | €793 | +€628 | +378.4% |
| Other amounts payable | 47/48 | €68,227 | €69,252 | +€1,024 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €385 | €514 | +€129 | +33.7% |
| Other operating charges | 640/8 | €774 | €758 | -€16 | -2.1% |
| Gross operating margin | 9900 | €8,096 | €1,667 | -€6,429 | -79.4% |
| Operating profit (loss) | 9901 | €6,937 | €395 | -€6,542 | -94.3% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €10 | €0 | -€10 | -99.3% |
| Recurring financial charges | 65 | €10 | €0 | -€10 | -99.3% |
| Profit (loss) for the period before taxes | 9903 | €6,927 | €395 | -€6,532 | -94.3% |
| Profit (loss) for the period | 9904 | €6,927 | €395 | -€6,532 | -94.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,927 | €395 | -€6,532 | -94.3% |
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 9 October 2026 via checked.be.