A7M: 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.
A7M
Largest movements
- Receivables within one year +€44,594
up €44,594 (+71.8%), from €62,113 to €106,707
of which Other amounts receivable: +€43,359
- Tangible fixed assets -€24,967
down €24,967 (-17.3%), from €144,077 to €119,110
- Formation expenses -€14,263
down €14,263 (-16.7%), from €85,510 to €71,247
- Cash +€8,732
up €8,732 (+176.0%), from €4,961 to €13,693
mainly Depreciation (+€39,231) and Tax, wage and social debts (+€21,425)
- Debts after one year -€24,529
down €24,529 (-15.5%), from €158,376 to €133,847
- Tax, wage and social debts +€21,425
up €21,425 (+323.9%), from €6,615 to €28,040
of which Remuneration and social security: +€18,180
- Profit (loss) carried forward +€18,795
up €18,795 (+11.0%), from -€170,568 to -€151,773
- Other debts -€3,631
down €3,631 (-24.7%), from €14,715 to €11,084
- Gross operating margin -€2,151
down €2,151 (-3.1%), from €68,607 to €66,456
- Depreciation +€1,575
up €1,575 (+4.2%), from €37,656 to €39,231
- Financial charges -€993
down €993 (-16.4%), from €6,060 to €5,067
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 | €297,282 | €310,757 | +€13,475 | +4.5% |
| Formation expenses | 20 | €85,510 | €71,247 | -€14,263 | -16.7% |
| Fixed assets | 21/28 | €144,077 | €119,110 | -€24,967 | -17.3% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €144,077 | €119,110 | -€24,967 | -17.3% |
| Land and buildings | 22 | €144,077 | €119,110 | -€24,967 | -17.3% |
| Current assets | 29/58 | €67,695 | €120,400 | +€52,705 | +77.9% |
| Stocks and contracts in progress | 3 | €621 | €0 | -€621 | -100.0% |
| Stocks | 30/36 | €621 | €0 | -€621 | -100.0% |
| Amounts receivable within one year | 40/41 | €62,113 | €106,707 | +€44,594 | +71.8% |
| Trade receivables | 40 | €44,996 | €46,231 | +€1,235 | +2.7% |
| Other amounts receivable | 41 | €17,117 | €60,476 | +€43,359 | +253.3% |
| Cash at bank and in hand | 54/58 | €4,961 | €13,693 | +€8,732 | +176.0% |
| Total equity and liabilities | 10/49 | €297,282 | €310,757 | +€13,475 | +4.5% |
| Equity | 10/15 | €93,207 | €112,002 | +€18,795 | +20.2% |
| Contributions | 10/11 | €261,915 | €261,915 | -€0 | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€170,568 | -€151,773 | +€18,795 | +11.0% |
| Amounts payable | 17/49 | €204,075 | €198,755 | -€5,320 | -2.6% |
| Amounts payable after more than one year | 17 | €158,376 | €133,847 | -€24,529 | -15.5% |
| Financial debts | 170/4 | €158,376 | €133,847 | -€24,529 | -15.5% |
| Amounts payable within one year | 42/48 | €45,699 | €64,908 | +€19,209 | +42.0% |
| Financial debts | 43 | €23,831 | €24,529 | +€698 | +2.9% |
| Credit institutions | 430/8 | €23,831 | €24,529 | +€698 | +2.9% |
| Trade debts | 44 | €538 | €1,255 | +€717 | +133.5% |
| Suppliers | 440/4 | €538 | €1,255 | +€717 | +133.5% |
| Taxes, remuneration and social security | 45 | €6,615 | €28,040 | +€21,425 | +323.9% |
| Taxes | 450/3 | €6,615 | €9,860 | +€3,245 | +49.1% |
| Remuneration and social security | 454/9 | €0 | €18,180 | +€18,180 | |
| Other amounts payable | 47/48 | €14,715 | €11,084 | -€3,631 | -24.7% |
| Remuneration, social security and pensions | 62 | €19 | - | -€19 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,656 | €39,231 | +€1,575 | +4.2% |
| Other operating charges | 640/8 | €3,027 | €3,445 | +€418 | +13.8% |
| Gross operating margin | 9900 | €68,607 | €66,456 | -€2,151 | -3.1% |
| Operating profit (loss) | 9901 | €27,905 | €23,780 | -€4,125 | -14.8% |
| Financial income | 75/76B | €1 | €82 | +€81 | +9218.2% |
| Recurring financial income | 75 | €1 | €82 | +€81 | +9218.2% |
| Financial charges | 65/66B | €6,060 | €5,067 | -€993 | -16.4% |
| Recurring financial charges | 65 | €6,060 | €5,067 | -€993 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | €21,846 | €18,795 | -€3,051 | -14.0% |
| Profit (loss) for the period | 9904 | €21,846 | €18,795 | -€3,051 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,846 | €18,795 | -€3,051 | -14.0% |
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 8 October 2026 via checked.be.