ALWAYS ON: 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.
ALWAYS ON
Largest movements
- Receivables within one year -€47,963
down €47,963 (-83.9%), from €57,146 to €9,183
of which Other amounts receivable: -€47,963
- Cash +€30,989
up €30,989 (+173%), from €17,893 to €48,882
mainly Other debts (+€182,987) and Depreciation (+€127,395)
- Tangible fixed assets -€21,153
down €21,153 (-8.3%), from €256,390 to €235,237
of which Other tangible fixed assets: -€20,096
- Profit (loss) carried forward -€198,611
down €198,611 (-101%), from -€197,155 to -€395,766
- Other debts +€182,987
up €182,987 (+42.3%), from €432,407 to €615,394
- Trade debts -€23,590
down €23,590 (-27.0%), from €87,530 to €63,940
- Depreciation +€58,285
up €58,285 (+84.3%), from €69,110 to €127,395
- Gross operating margin +€8,117
up €8,117 (+10.6%), from -€76,309 to -€68,192
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 | €332,782 | €293,568 | -€39,214 | -11.8% |
| Fixed assets | 21/28 | €256,390 | €235,237 | -€21,153 | -8.3% |
| Tangible fixed assets | 22/27 | €256,390 | €235,237 | -€21,153 | -8.3% |
| Plant, machinery and equipment | 23 | €1,807 | €750 | -€1,057 | -58.5% |
| Other tangible fixed assets | 26 | €254,583 | €234,487 | -€20,096 | -7.9% |
| Current assets | 29/58 | €76,392 | €58,331 | -€18,061 | -23.6% |
| Amounts receivable within one year | 40/41 | €57,146 | €9,183 | -€47,963 | -83.9% |
| Trade receivables | 40 | €210 | €210 | = | 0.0% |
| Other amounts receivable | 41 | €56,936 | €8,973 | -€47,963 | -84.2% |
| Cash at bank and in hand | 54/58 | €17,893 | €48,882 | +€30,989 | +173% |
| Deferred charges and accrued income | 490/1 | €1,353 | €266 | -€1,087 | -80.3% |
| Total equity and liabilities | 10/49 | €332,782 | €293,568 | -€39,214 | -11.8% |
| Equity | 10/15 | -€187,155 | -€385,766 | -€198,611 | -106% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€197,155 | -€395,766 | -€198,611 | -101% |
| Amounts payable | 17/49 | €519,937 | €679,334 | +€159,397 | +30.7% |
| Amounts payable within one year | 42/48 | €519,937 | €679,334 | +€159,397 | +30.7% |
| Trade debts | 44 | €87,530 | €63,940 | -€23,590 | -27.0% |
| Suppliers | 440/4 | €87,530 | €63,940 | -€23,590 | -27.0% |
| Other amounts payable | 47/48 | €432,407 | €615,394 | +€182,987 | +42.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,110 | €127,395 | +€58,285 | +84.3% |
| Other operating charges | 640/8 | €1,069 | €1,509 | +€440 | +41.2% |
| Gross operating margin | 9900 | -€76,309 | -€68,192 | +€8,117 | +10.6% |
| Operating profit (loss) | 9901 | -€146,488 | -€197,096 | -€50,608 | -34.5% |
| Financial income | 75/76B | €176 | - | -€176 | |
| Recurring financial income | 75 | €176 | - | -€176 | |
| Financial charges | 65/66B | €1,463 | €1,515 | +€52 | +3.6% |
| Recurring financial charges | 65 | €1,463 | €1,515 | +€52 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | -€147,775 | -€198,611 | -€50,836 | -34.4% |
| Profit (loss) for the period | 9904 | -€147,775 | -€198,611 | -€50,836 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€147,775 | -€198,611 | -€50,836 | -34.4% |
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 30 October 2026 via checked.be.