ABCDE: 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.
ABCDE
Largest movements
- Financial fixed assets -€445,623
down €445,623 (-100%), from €445,623 to €0
- Cash +€198,104
up €198,104 (+1,128%), from €17,559 to €215,662
mainly Investment in fixed assets (net) (+€500,211) and Receivables within one year (+€74,112)
- Receivables within one year -€74,112
down €74,112 (-95.7%), from €77,440 to €3,328
of which Trade receivables: -€74,990
- Tangible fixed assets -€65,089
down €65,089 (-52.4%), from €124,278 to €59,188
of which Other tangible fixed assets: -€124,278
- Reserves -€251,950
down €251,950 (-100%), from €251,950 to €0
- Debts after one year -€147,641
down €147,641 (-59.6%), from €247,641 to €100,000
of which Financial debts: -€147,641
- Contributions +€37,600
up €37,600 (+303%), from €12,400 to €50,000
- Other debts -€21,644
down €21,644 (-17.1%), from €126,594 to €104,949
- Current portion of long-term debt -€8,411
down €8,411 (-100%), from €8,411 to €0
- Gross operating margin -€41,660
down €41,660, from €22,011 to -€19,649
- Financial charges -€2,986
down €2,986 (-69.1%), from €4,323 to €1,337
- Depreciation -€1,960
down €1,960 (-15.7%), from €12,461 to €10,501
- Taxes -€1,397
down €1,397 (-90.0%), from €1,551 to €154
- Other operating charges +€229
up €229 (+10.2%), from €2,256 to €2,486
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 | €664,899 | €278,179 | -€386,720 | -58.2% |
| Fixed assets | 21/28 | €569,901 | €59,188 | -€510,712 | -89.6% |
| Tangible fixed assets | 22/27 | €124,278 | €59,188 | -€65,089 | -52.4% |
| Furniture and vehicles | 24 | €0 | €59,188 | +€59,188 | |
| Other tangible fixed assets | 26 | €124,278 | €0 | -€124,278 | -100% |
| Financial fixed assets | 28 | €445,623 | €0 | -€445,623 | -100% |
| Current assets | 29/58 | €94,999 | €218,991 | +€123,992 | +131% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €77,440 | €3,328 | -€74,112 | -95.7% |
| Trade receivables | 40 | €77,440 | €2,450 | -€74,990 | -96.8% |
| Other amounts receivable | 41 | €0 | €878 | +€878 | |
| Cash at bank and in hand | 54/58 | €17,559 | €215,662 | +€198,104 | +1,128% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €664,899 | €278,179 | -€386,720 | -58.2% |
| Equity | 10/15 | €264,350 | €50,000 | -€214,350 | -81.1% |
| Contributions | 10/11 | €12,400 | €50,000 | +€37,600 | +303% |
| Reserves | 13 | €251,950 | €0 | -€251,950 | -100% |
| Distributable reserves | 133 | €251,950 | €0 | -€251,950 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €400,549 | €228,179 | -€172,370 | -43.0% |
| Amounts payable after more than one year | 17 | €247,641 | €100,000 | -€147,641 | -59.6% |
| Financial debts | 170/4 | €147,641 | €0 | -€147,641 | -100% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €150,515 | €127,779 | -€22,736 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €8,411 | €0 | -€8,411 | -100% |
| Trade debts | 44 | €1,223 | €616 | -€607 | -49.6% |
| Suppliers | 440/4 | €1,223 | €616 | -€607 | -49.6% |
| Taxes, remuneration and social security | 45 | €14,287 | €22,214 | +€7,926 | +55.5% |
| Taxes | 450/3 | €14,287 | €20,234 | +€5,947 | +41.6% |
| Remuneration and social security | 454/9 | - | €1,979 | +€1,979 | |
| Other amounts payable | 47/48 | €126,594 | €104,949 | -€21,644 | -17.1% |
| Accrued charges and deferred income | 492/3 | €2,393 | €400 | -€1,993 | -83.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,461 | €10,501 | -€1,960 | -15.7% |
| Other operating charges | 640/8 | €2,256 | €2,486 | +€229 | +10.2% |
| Non-recurring operating charges | 66A | €1,092 | €110,802 | +€109,710 | +10,045% |
| Gross operating margin | 9900 | €22,011 | -€19,649 | -€41,660 | |
| Operating profit (loss) | 9901 | €6,202 | -€143,438 | -€149,639 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -95.9% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -95.9% |
| Financial charges | 65/66B | €4,323 | €1,337 | -€2,986 | -69.1% |
| Recurring financial charges | 65 | €4,323 | €1,337 | -€2,986 | -69.1% |
| Profit (loss) for the period before taxes | 9903 | €1,880 | -€144,775 | -€146,655 | |
| Income taxes | 67/77 | €1,551 | €154 | -€1,397 | -90.0% |
| Profit (loss) for the period | 9904 | €328 | -€144,929 | -€145,258 | |
| Profit (loss) for the period to be appropriated | 9905 | €328 | -€144,929 | -€145,258 |
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 21 October 2026 via checked.be.