ANSERS: 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.
ANSERS
Largest movements
- Current investments -€119,316
down €119,316 (-34.0%), from €351,369 to €232,053
- Cash +€44,058
up €44,058 (+401.1%), from €10,985 to €55,043
mainly Other debts (+€122,785) and Current investments (+€119,316)
- Tangible fixed assets -€12,700
down €12,700 (-9.4%), from €135,274 to €122,574
of which Furniture and vehicles: -€11,642
- Receivables within one year -€11,103
down €11,103 (-5.5%), from €202,000 to €190,897
of which Trade receivables: -€140,981
- Reserves -€190,000
down €190,000 (-32.4%), from €586,860 to €396,860
of which Distributable reserves: -€190,000
- Other debts +€122,785
up €122,785 (+5544.0%), from €2,215 to €125,000
- Trade debts -€14,018
down €14,018 (-34.9%), from €40,132 to €26,114
- Current portion of long-term debt -€10,677
down €10,677 (-60.7%), from €17,578 to €6,901
- Gross operating margin -€235,205
down €235,205 (-69.4%), from €338,696 to €103,491
- Taxes -€70,043
down €70,043, from €69,473 to -€570
- Staff costs +€55,511
up €55,511 (+73.3%), from €75,714 to €131,225
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 | €720,830 | €625,309 | -€95,521 | -13.3% |
| Fixed assets | 21/28 | €139,974 | €132,954 | -€7,019 | -5.0% |
| Intangible fixed assets | 21 | - | €5,248 | +€5,248 | |
| Tangible fixed assets | 22/27 | €135,274 | €122,574 | -€12,700 | -9.4% |
| Land and buildings | 22 | €3,438 | €2,380 | -€1,058 | -30.8% |
| Furniture and vehicles | 24 | €131,835 | €120,194 | -€11,642 | -8.8% |
| Financial fixed assets | 28 | €4,700 | €5,133 | +€433 | +9.2% |
| Current assets | 29/58 | €580,856 | €492,355 | -€88,502 | -15.2% |
| Amounts receivable within one year | 40/41 | €202,000 | €190,897 | -€11,103 | -5.5% |
| Trade receivables | 40 | €202,000 | €61,019 | -€140,981 | -69.8% |
| Other amounts receivable | 41 | - | €129,878 | +€129,878 | |
| Current investments | 50/53 | €351,369 | €232,053 | -€119,316 | -34.0% |
| Cash at bank and in hand | 54/58 | €10,985 | €55,043 | +€44,058 | +401.1% |
| Deferred charges and accrued income | 490/1 | €16,502 | €14,362 | -€2,141 | -13.0% |
| Total equity and liabilities | 10/49 | €720,830 | €625,309 | -€95,521 | -13.3% |
| Equity | 10/15 | €603,137 | €411,722 | -€191,416 | -31.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €586,860 | €396,860 | -€190,000 | -32.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €585,000 | €395,000 | -€190,000 | -32.5% |
| Profit (loss) carried forward | 14 | €3,877 | €2,462 | -€1,416 | -36.5% |
| Amounts payable | 17/49 | €117,693 | €213,588 | +€95,895 | +81.5% |
| Amounts payable after more than one year | 17 | €6,901 | - | -€6,901 | |
| Financial debts | 170/4 | €6,901 | - | -€6,901 | |
| Amounts payable within one year | 42/48 | €110,791 | €213,588 | +€102,796 | +92.8% |
| Current portion of amounts payable after more than one year | 42 | €17,578 | €6,901 | -€10,677 | -60.7% |
| Trade debts | 44 | €40,132 | €26,114 | -€14,018 | -34.9% |
| Suppliers | 440/4 | €40,132 | €26,114 | -€14,018 | -34.9% |
| Taxes, remuneration and social security | 45 | €50,866 | €55,573 | +€4,706 | +9.3% |
| Taxes | 450/3 | €32,721 | €28,861 | -€3,860 | -11.8% |
| Remuneration and social security | 454/9 | €18,145 | €26,712 | +€8,567 | +47.2% |
| Other amounts payable | 47/48 | €2,215 | €125,000 | +€122,785 | +5544.0% |
| Non-recurring operating income | 76A | - | €1,250 | +€1,250 | |
| Remuneration, social security and pensions | 62 | €75,714 | €131,225 | +€55,511 | +73.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,917 | €41,018 | +€3,100 | +8.2% |
| Other operating charges | 640/8 | €1,392 | €1,202 | -€189 | -13.6% |
| Gross operating margin | 9900 | €338,696 | €103,491 | -€235,205 | -69.4% |
| Operating profit (loss) | 9901 | €223,673 | -€69,953 | -€293,626 | |
| Financial income | 75/76B | €2,715 | €3,430 | +€715 | +26.3% |
| Recurring financial income | 75 | €2,715 | €3,430 | +€715 | +26.3% |
| Financial charges | 65/66B | €1,314 | €463 | -€851 | -64.8% |
| Recurring financial charges | 65 | €1,314 | €463 | -€851 | -64.8% |
| Profit (loss) for the period before taxes | 9903 | €225,074 | -€66,986 | -€292,060 | |
| Income taxes | 67/77 | €69,473 | -€570 | -€70,043 | |
| Profit (loss) for the period | 9904 | €155,601 | -€66,416 | -€222,017 | |
| Profit (loss) for the period to be appropriated | 9905 | €155,601 | -€66,416 | -€222,017 |
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 9 October 2026 via checked.be.