A thousand faces: 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 thousand faces
Largest movements
- Cash -€27,118
down €27,118 (-26.8%), from €101,344 to €74,226
mainly Contributions, distributions and other (-€42,088) and Current investments (-€20,000)
- Current investments +€20,000
up €20,000 (+50.0%), from €40,000 to €60,000
- Receivables within one year +€13,689
up €13,689 (+68.2%), from €20,069 to €33,758
of which Trade receivables: +€18,961
- Tangible fixed assets -€3,191
down €3,191 (-26.2%), from €12,180 to €8,989
of which Other tangible fixed assets: -€1,717
- Profit (loss) carried forward -€42,088
no longer reported in 2025 (was €42,088)
- Other debts +€38,941
up €38,941 (+1,264%), from €3,081 to €42,022
- Reserves +€4,367
up €4,367 (+4.1%), from €106,410 to €110,777
- Gross operating margin +€2,062
up €2,062 (+26.3%), from €7,830 to €9,892
- Financial income +€1,306
up €1,306 (+130,600%), from €1 to €1,307
- Taxes +€578
up €578 (+26.6%), from €2,174 to €2,752
- Other operating charges -€365
down €365 (-30.2%), from €1,209 to €844
- Financial charges -€113
down €113 (-71.5%), from €158 to €45
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 | €173,593 | €177,235 | +€3,642 | +2.1% |
| Fixed assets | 21/28 | €12,180 | €8,989 | -€3,191 | -26.2% |
| Tangible fixed assets | 22/27 | €12,180 | €8,989 | -€3,191 | -26.2% |
| Plant, machinery and equipment | 23 | €7,574 | €6,777 | -€797 | -10.5% |
| Furniture and vehicles | 24 | €1,419 | €742 | -€677 | -47.7% |
| Other tangible fixed assets | 26 | €3,187 | €1,470 | -€1,717 | -53.9% |
| Current assets | 29/58 | €161,413 | €168,246 | +€6,833 | +4.2% |
| Amounts receivable within one year | 40/41 | €20,069 | €33,758 | +€13,689 | +68.2% |
| Trade receivables | 40 | €9,743 | €28,704 | +€18,961 | +195% |
| Other amounts receivable | 41 | €10,326 | €5,054 | -€5,272 | -51.1% |
| Current investments | 50/53 | €40,000 | €60,000 | +€20,000 | +50.0% |
| Cash at bank and in hand | 54/58 | €101,344 | €74,226 | -€27,118 | -26.8% |
| Deferred charges and accrued income | 490/1 | - | €262 | +€262 | |
| Total equity and liabilities | 10/49 | €173,593 | €177,235 | +€3,642 | +2.1% |
| Equity | 10/15 | €151,498 | €113,777 | -€37,721 | -24.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €106,410 | €110,777 | +€4,367 | +4.1% |
| Distributable reserves | 133 | €106,410 | €110,777 | +€4,367 | +4.1% |
| Profit (loss) carried forward | 14 | €42,088 | - | -€42,088 | |
| Amounts payable | 17/49 | €22,095 | €63,458 | +€41,363 | +187% |
| Amounts payable within one year | 42/48 | €22,095 | €63,458 | +€41,363 | +187% |
| Trade debts | 44 | €15,051 | €16,774 | +€1,723 | +11.4% |
| Suppliers | 440/4 | €15,051 | €16,774 | +€1,723 | +11.4% |
| Taxes, remuneration and social security | 45 | €3,963 | €4,662 | +€699 | +17.6% |
| Taxes | 450/3 | €3,963 | €4,662 | +€699 | +17.6% |
| Other amounts payable | 47/48 | €3,081 | €42,022 | +€38,941 | +1,264% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,125 | €3,191 | +€66 | +2.1% |
| Other operating charges | 640/8 | €1,209 | €844 | -€365 | -30.2% |
| Gross operating margin | 9900 | €7,830 | €9,892 | +€2,062 | +26.3% |
| Operating profit (loss) | 9901 | €3,496 | €5,857 | +€2,361 | +67.5% |
| Financial income | 75/76B | €1 | €1,307 | +€1,306 | +130,600% |
| Recurring financial income | 75 | €1 | €1,307 | +€1,306 | +130,600% |
| Financial charges | 65/66B | €158 | €45 | -€113 | -71.5% |
| Recurring financial charges | 65 | €158 | €45 | -€113 | -71.5% |
| Profit (loss) for the period before taxes | 9903 | €3,339 | €7,119 | +€3,780 | +113% |
| Income taxes | 67/77 | €2,174 | €2,752 | +€578 | +26.6% |
| Profit (loss) for the period | 9904 | €1,165 | €4,367 | +€3,202 | +275% |
| Profit (loss) for the period to be appropriated | 9905 | €1,165 | €4,367 | +€3,202 | +275% |
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.