ALL COVER: 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.
ALL COVER
Largest movements
- Receivables within one year -€11,715
down €11,715 (-8.8%), from €133,412 to €121,697
of which Other amounts receivable: -€9,369
- Cash +€1,760
up €1,760 (+546%), from €322 to €2,082
mainly Receivables within one year (+€11,715) and Trade debts (+€3,169)
- Tangible fixed assets -€1,714
down €1,714 (-47.7%), from €3,592 to €1,878
- Tax, wage and social debts -€9,155
down €9,155 (-62.8%), from €14,577 to €5,422
- Current portion of long-term debt -€8,368
down €8,368 (-100%), from €8,368 to €0
- Trade debts +€3,169
up €3,169 (+44.5%), from €7,117 to €10,286
- Profit (loss) carried forward +€2,981
up €2,981 (+6.4%), from €46,369 to €49,350
- Gross operating margin -€16,314
down €16,314 (-63.1%), from €25,872 to €9,558
- Taxes -€3,820
down €3,820 (-62.8%), from €6,080 to €2,260
- Depreciation -€973
down €973 (-27.1%), from €3,595 to €2,622
- Other operating charges -€859
down €859 (-39.8%), from €2,161 to €1,302
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 | €137,327 | €125,657 | -€11,670 | -8.5% |
| Fixed assets | 21/28 | €3,592 | €1,878 | -€1,714 | -47.7% |
| Tangible fixed assets | 22/27 | €3,592 | €1,878 | -€1,714 | -47.7% |
| Furniture and vehicles | 24 | €3,592 | €1,878 | -€1,714 | -47.7% |
| Current assets | 29/58 | €133,734 | €123,779 | -€9,955 | -7.4% |
| Amounts receivable within one year | 40/41 | €133,412 | €121,697 | -€11,715 | -8.8% |
| Trade receivables | 40 | €34,443 | €32,097 | -€2,346 | -6.8% |
| Other amounts receivable | 41 | €98,970 | €89,601 | -€9,369 | -9.5% |
| Cash at bank and in hand | 54/58 | €322 | €2,082 | +€1,760 | +546% |
| Total equity and liabilities | 10/49 | €137,327 | €125,657 | -€11,670 | -8.5% |
| Equity | 10/15 | €106,969 | €109,950 | +€2,981 | +2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €42,000 | €42,000 | = | 0.0% |
| Distributable reserves | 133 | €42,000 | €42,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,369 | €49,350 | +€2,981 | +6.4% |
| Amounts payable | 17/49 | €30,358 | €15,708 | -€14,650 | -48.3% |
| Amounts payable within one year | 42/48 | €30,358 | €15,708 | -€14,650 | -48.3% |
| Current portion of amounts payable after more than one year | 42 | €8,368 | €0 | -€8,368 | -100% |
| Financial debts | 43 | €295 | €0 | -€295 | -100% |
| Credit institutions | 430/8 | €295 | €0 | -€295 | -100% |
| Trade debts | 44 | €7,117 | €10,286 | +€3,169 | +44.5% |
| Suppliers | 440/4 | €7,117 | €10,286 | +€3,169 | +44.5% |
| Taxes, remuneration and social security | 45 | €14,577 | €5,422 | -€9,155 | -62.8% |
| Taxes | 450/3 | €14,577 | €5,422 | -€9,155 | -62.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,595 | €2,622 | -€973 | -27.1% |
| Other operating charges | 640/8 | €2,161 | €1,302 | -€859 | -39.8% |
| Gross operating margin | 9900 | €25,872 | €9,558 | -€16,314 | -63.1% |
| Operating profit (loss) | 9901 | €20,116 | €5,634 | -€14,482 | -72.0% |
| Financial income | 75/76B | €9 | €45 | +€36 | +384% |
| Recurring financial income | 75 | €9 | €45 | +€36 | +384% |
| Financial charges | 65/66B | €441 | €438 | -€3 | -0.6% |
| Recurring financial charges | 65 | €441 | €438 | -€3 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €19,684 | €5,241 | -€14,444 | -73.4% |
| Income taxes | 67/77 | €6,080 | €2,260 | -€3,820 | -62.8% |
| Profit (loss) for the period | 9904 | €13,605 | €2,981 | -€10,624 | -78.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,605 | €2,981 | -€10,624 | -78.1% |
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 27 October 2026 via checked.be.