ALGORITHMIC: what changed
ALGORITHMIC
Largest movements
- Cash -€20,863
down €20,863 (-20.4%), from €102,352 to €81,490
mainly Contributions, distributions and other (-€85,309) and Tax, wage and social debts (-€9,273)
- Receivables within one year -€13,352
down €13,352 (-54.3%), from €24,607 to €11,255
of which Trade receivables: -€18,242
- Deferred charges and accrued income -€7,117
down €7,117 (-86.0%), from €8,273 to €1,156
- Tangible fixed assets -€2,313
down €2,313 (-23.7%), from €9,742 to €7,429
of which Furniture and vehicles: -€2,122
- Reserves -€35,044
down €35,044 (-30.7%), from €114,147 to €79,102
- Tax, wage and social debts -€9,273
down €9,273 (-89.1%), from €10,402 to €1,129
of which Taxes: -€7,707
- Gross operating margin -€7,731
down €7,731 (-9.5%), from €81,185 to €73,454
- Taxes +€3,419
up €3,419 (+22.1%), from €15,485 to €18,904
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €144,975 | €101,330 | -€43,645 | -30.1% |
| Fixed assets | 21/28 | €9,742 | €7,429 | -€2,313 | -23.7% |
| Tangible fixed assets | 22/27 | €9,742 | €7,429 | -€2,313 | -23.7% |
| Plant, machinery and equipment | 23 | €1,702 | €1,511 | -€191 | -11.2% |
| Furniture and vehicles | 24 | €8,041 | €5,918 | -€2,122 | -26.4% |
| Current assets | 29/58 | €135,233 | €93,901 | -€41,331 | -30.6% |
| Amounts receivable within one year | 40/41 | €24,607 | €11,255 | -€13,352 | -54.3% |
| Trade receivables | 40 | €18,242 | €0 | -€18,242 | -100% |
| Other amounts receivable | 41 | €6,365 | €11,255 | +€4,891 | +76.8% |
| Cash at bank and in hand | 54/58 | €102,352 | €81,490 | -€20,863 | -20.4% |
| Deferred charges and accrued income | 490/1 | €8,273 | €1,156 | -€7,117 | -86.0% |
| Total equity and liabilities | 10/49 | €144,975 | €101,330 | -€43,645 | -30.1% |
| Equity | 10/15 | €132,747 | €97,702 | -€35,044 | -26.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €114,147 | €79,102 | -€35,044 | -30.7% |
| Distributable reserves | 133 | €114,147 | €79,102 | -€35,044 | -30.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €12,228 | €3,628 | -€8,600 | -70.3% |
| Amounts payable within one year | 42/48 | €12,228 | €3,628 | -€8,600 | -70.3% |
| Trade debts | 44 | €1,826 | €1,919 | +€93 | +5.1% |
| Suppliers | 440/4 | €1,826 | €1,919 | +€93 | +5.1% |
| Taxes, remuneration and social security | 45 | €10,402 | €1,129 | -€9,273 | -89.1% |
| Taxes | 450/3 | €7,839 | €131 | -€7,707 | -98.3% |
| Remuneration and social security | 454/9 | €2,563 | €998 | -€1,566 | -61.1% |
| Other amounts payable | 47/48 | €0 | €579 | +€579 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €8,401 | €0 | -€8,401 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,365 | €2,313 | -€51 | -2.2% |
| Other operating charges | 640/8 | €437 | €440 | +€3 | +0.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €81,185 | €73,454 | -€7,731 | -9.5% |
| Operating profit (loss) | 9901 | €78,384 | €70,701 | -€7,683 | -9.8% |
| Financial income | 75/76B | €12 | €1 | -€11 | -92.8% |
| Recurring financial income | 75 | €12 | €1 | -€11 | -92.8% |
| Financial charges | 65/66B | €1,573 | €1,533 | -€40 | -2.6% |
| Recurring financial charges | 65 | €1,573 | €1,533 | -€40 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €76,823 | €69,169 | -€7,654 | -10.0% |
| Income taxes | 67/77 | €15,485 | €18,904 | +€3,419 | +22.1% |
| Profit (loss) for the period | 9904 | €61,338 | €50,265 | -€11,073 | -18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €61,338 | €50,265 | -€11,073 | -18.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.