A Transformational Journey: 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 Transformational Journey
Largest movements
- Receivables within one year +€11,952
up €11,952 (+56.8%), from €21,029 to €32,981
of which Other amounts receivable: +€7,401
- Cash -€5,353
down €5,353 (-7.4%), from €72,625 to €67,272
mainly Receivables within one year (-€11,952) and Trade debts (-€2,041)
- Tangible fixed assets -€4,353
down €4,353 (-61.4%), from €7,093 to €2,740
- Deferred charges and accrued income +€1,669
up €1,669 (+862%), from €194 to €1,863
- Accrued charges and deferred income +€7,974
up €7,974 (+106%), from €7,543 to €15,517
- Trade debts -€2,041
down €2,041 (-44.1%), from €4,628 to €2,587
- Reserves -€1,233
down €1,233 (-1.8%), from €67,222 to €65,989
- Gross operating margin -€10,200
down €10,200 (-60.3%), from €16,925 to €6,724
- Taxes -€1,885
down €1,885 (-92.5%), from €2,037 to €152
- Depreciation -€1,354
down €1,354 (-23.7%), from €5,707 to €4,353
- Financial charges +€601
up €601 (+30.3%), from €1,986 to €2,588
- Financial income +€295
up €295 (+7,998%), from €4 to €299
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 | €100,940 | €104,856 | +€3,916 | +3.9% |
| Fixed assets | 21/28 | €7,093 | €2,740 | -€4,353 | -61.4% |
| Tangible fixed assets | 22/27 | €7,093 | €2,740 | -€4,353 | -61.4% |
| Furniture and vehicles | 24 | €7,093 | €2,740 | -€4,353 | -61.4% |
| Current assets | 29/58 | €93,847 | €102,116 | +€8,269 | +8.8% |
| Amounts receivable within one year | 40/41 | €21,029 | €32,981 | +€11,952 | +56.8% |
| Trade receivables | 40 | €8,611 | €13,162 | +€4,551 | +52.9% |
| Other amounts receivable | 41 | €12,418 | €19,819 | +€7,401 | +59.6% |
| Cash at bank and in hand | 54/58 | €72,625 | €67,272 | -€5,353 | -7.4% |
| Deferred charges and accrued income | 490/1 | €194 | €1,863 | +€1,669 | +862% |
| Total equity and liabilities | 10/49 | €100,940 | €104,856 | +€3,916 | +3.9% |
| Equity | 10/15 | €85,822 | €84,589 | -€1,233 | -1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €67,222 | €65,989 | -€1,233 | -1.8% |
| Distributable reserves | 133 | €67,222 | €65,989 | -€1,233 | -1.8% |
| Amounts payable | 17/49 | €15,118 | €20,267 | +€5,149 | +34.1% |
| Amounts payable within one year | 42/48 | €7,575 | €4,750 | -€2,825 | -37.3% |
| Trade debts | 44 | €4,628 | €2,587 | -€2,041 | -44.1% |
| Suppliers | 440/4 | €4,628 | €2,587 | -€2,041 | -44.1% |
| Taxes, remuneration and social security | 45 | €674 | €161 | -€513 | -76.1% |
| Taxes | 450/3 | €674 | €161 | -€513 | -76.1% |
| Other amounts payable | 47/48 | €2,273 | €2,002 | -€271 | -11.9% |
| Accrued charges and deferred income | 492/3 | €7,543 | €15,517 | +€7,974 | +106% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,707 | €4,353 | -€1,354 | -23.7% |
| Other operating charges | 640/8 | €1,169 | €1,164 | -€5 | -0.4% |
| Gross operating margin | 9900 | €16,925 | €6,724 | -€10,200 | -60.3% |
| Operating profit (loss) | 9901 | €10,049 | €1,208 | -€8,841 | -88.0% |
| Financial income | 75/76B | €4 | €299 | +€295 | +7,998% |
| Recurring financial income | 75 | €4 | €299 | +€295 | +7,998% |
| Financial charges | 65/66B | €1,986 | €2,588 | +€601 | +30.3% |
| Recurring financial charges | 65 | €1,986 | €2,588 | +€601 | +30.3% |
| Profit (loss) for the period before taxes | 9903 | €8,067 | -€1,081 | -€9,147 | |
| Income taxes | 67/77 | €2,037 | €152 | -€1,885 | -92.5% |
| Profit (loss) for the period | 9904 | €6,029 | -€1,233 | -€7,262 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,029 | -€1,233 | -€7,262 |
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 16 October 2026 via checked.be.