A-switch: 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-switch
Largest movements
- Receivables after one year -€100,000
down €100,000 (-100%), from €100,000 to €0
- Current investments +€25,000
up €25,000 (+14.3%), from €175,000 to €200,000
- Receivables within one year +€17,300
up €17,300 (+233%), from €7,419 to €24,719
of which Other amounts receivable: +€10,349
- Cash +€15,531
up €15,531 (+24.6%), from €63,258 to €78,789
mainly Receivables after one year (+€100,000) and Other debts (+€86,351)
- Tangible fixed assets -€6,952
down €6,952 (-26.8%), from €25,982 to €19,030
of which Furniture and vehicles: -€7,944
- Reserves -€144,113
down €144,113 (-44.4%), from €324,680 to €180,567
- Other debts +€86,351
up €86,351 (+833%), from €10,362 to €96,713
- Trade debts +€13,950
up €13,950 (+234%), from €5,962 to €19,912
- Debts after one year -€5,755
down €5,755 (-41.6%), from €13,833 to €8,078
- Gross operating margin -€34,331
down €34,331 (-29.8%), from €115,160 to €80,829
- Taxes -€8,172
down €8,172 (-27.8%), from €29,415 to €21,243
- Financial income +€4,313
up €4,313 (+171%), from €2,516 to €6,829
- Depreciation -€1,534
down €1,534 (-13.6%), from €11,316 to €9,782
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 | €375,885 | €327,642 | -€48,243 | -12.8% |
| Fixed assets | 21/28 | €28,843 | €22,571 | -€6,272 | -21.7% |
| Intangible fixed assets | 21 | €2,861 | €3,541 | +€680 | +23.8% |
| Tangible fixed assets | 22/27 | €25,982 | €19,030 | -€6,952 | -26.8% |
| Plant, machinery and equipment | 23 | €0 | €992 | +€992 | |
| Furniture and vehicles | 24 | €25,982 | €18,038 | -€7,944 | -30.6% |
| Current assets | 29/58 | €347,042 | €305,071 | -€41,971 | -12.1% |
| Amounts receivable after more than one year | 29 | €100,000 | €0 | -€100,000 | -100% |
| Other amounts receivable | 291 | €100,000 | €0 | -€100,000 | -100% |
| Amounts receivable within one year | 40/41 | €7,419 | €24,719 | +€17,300 | +233% |
| Trade receivables | 40 | €6,756 | €13,706 | +€6,950 | +103% |
| Other amounts receivable | 41 | €663 | €11,012 | +€10,349 | +1,561% |
| Current investments | 50/53 | €175,000 | €200,000 | +€25,000 | +14.3% |
| Cash at bank and in hand | 54/58 | €63,258 | €78,789 | +€15,531 | +24.6% |
| Deferred charges and accrued income | 490/1 | €1,365 | €1,563 | +€199 | +14.6% |
| Total equity and liabilities | 10/49 | €375,885 | €327,642 | -€48,243 | -12.8% |
| Equity | 10/15 | €324,680 | €180,567 | -€144,113 | -44.4% |
| Reserves | 13 | €324,680 | €180,567 | -€144,113 | -44.4% |
| Distributable reserves | 133 | €324,680 | €180,567 | -€144,113 | -44.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €51,204 | €147,075 | +€95,871 | +187% |
| Amounts payable after more than one year | 17 | €13,833 | €8,078 | -€5,755 | -41.6% |
| Financial debts | 170/4 | €13,833 | €8,078 | -€5,755 | -41.6% |
| Amounts payable within one year | 42/48 | €37,371 | €138,997 | +€101,626 | +272% |
| Current portion of amounts payable after more than one year | 42 | €5,508 | €5,755 | +€247 | +4.5% |
| Trade debts | 44 | €5,962 | €19,912 | +€13,950 | +234% |
| Suppliers | 440/4 | €5,962 | €19,912 | +€13,950 | +234% |
| Taxes, remuneration and social security | 45 | €15,539 | €16,617 | +€1,078 | +6.9% |
| Taxes | 450/3 | €15,539 | €16,617 | +€1,078 | +6.9% |
| Other amounts payable | 47/48 | €10,362 | €96,713 | +€86,351 | +833% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,316 | €9,782 | -€1,534 | -13.6% |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Gross operating margin | 9900 | €115,160 | €80,829 | -€34,331 | -29.8% |
| Operating profit (loss) | 9901 | €103,393 | €70,582 | -€32,811 | -31.7% |
| Financial income | 75/76B | €2,516 | €6,829 | +€4,313 | +171% |
| Recurring financial income | 75 | €2,516 | €6,829 | +€4,313 | +171% |
| Financial charges | 65/66B | €1,176 | €991 | -€185 | -15.7% |
| Recurring financial charges | 65 | €1,176 | €991 | -€185 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €104,733 | €76,420 | -€28,313 | -27.0% |
| Income taxes | 67/77 | €29,415 | €21,243 | -€8,172 | -27.8% |
| Profit (loss) for the period | 9904 | €75,318 | €55,177 | -€20,141 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €75,318 | €55,177 | -€20,141 | -26.7% |
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 26 October 2026 via checked.be.