ANTINUISIBLE: 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.
ANTINUISIBLE
Largest movements
- Receivables within one year -€77,793
down €77,793 (-70.0%), from €111,143 to €33,350
of which Trade receivables: -€79,863
- Tangible fixed assets -€18,045
down €18,045 (-93.9%), from €19,208 to €1,163
of which Leasing and similar rights: -€11,499
- Cash -€7,497
no longer reported in 2025 (was €7,497)
mainly Net result for the year (-€147,180) and Other debts (-€30,936)
- Deferred charges and accrued income -€7,244
down €7,244 (-97.6%), from €7,419 to €175
- Financial fixed assets -€1,800
down €1,800 (-40.0%), from €4,500 to €2,700
- Profit (loss) carried forward -€147,180
down €147,180 (-158.2%), from -€93,029 to -€240,209
- Accrued charges and deferred income +€58,199
up €58,199 (+3252.8%), from €1,789 to €59,988
- Debts after one year +€48,522
up €48,522 (+93.8%), from €51,755 to €100,278
- Other debts -€30,936
down €30,936 (-91.0%), from €34,000 to €3,063
- Trade debts -€24,034
down €24,034 (-38.7%), from €62,084 to €38,049
of which Suppliers: -€21,021
- Gross operating margin -€146,648
down €146,648 (-69.7%), from €210,453 to €63,805
- Staff costs -€65,117
down €65,117 (-36.1%), from €180,190 to €115,073
- Financial charges +€62,093
up €62,093 (+664.7%), from €9,341 to €71,434
of which Non-recurring financial charges: +€56,684
- Write-downs +€12,964
new in 2025: €12,964
- Other operating charges -€10,048
down €10,048 (-81.3%), from €12,355 to €2,307
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 | €149,768 | €37,388 | -€112,380 | -75.0% |
| Fixed assets | 21/28 | €23,708 | €3,863 | -€19,845 | -83.7% |
| Tangible fixed assets | 22/27 | €19,208 | €1,163 | -€18,045 | -93.9% |
| Furniture and vehicles | 24 | €7,709 | €1,163 | -€6,546 | -84.9% |
| Leasing and similar rights | 25 | €11,499 | - | -€11,499 | |
| Financial fixed assets | 28 | €4,500 | €2,700 | -€1,800 | -40.0% |
| Current assets | 29/58 | €126,060 | €33,525 | -€92,535 | -73.4% |
| Amounts receivable within one year | 40/41 | €111,143 | €33,350 | -€77,793 | -70.0% |
| Trade receivables | 40 | €109,949 | €30,086 | -€79,863 | -72.6% |
| Other amounts receivable | 41 | €1,194 | €3,263 | +€2,070 | +173.4% |
| Cash at bank and in hand | 54/58 | €7,497 | - | -€7,497 | |
| Deferred charges and accrued income | 490/1 | €7,419 | €175 | -€7,244 | -97.6% |
| Total equity and liabilities | 10/49 | €149,768 | €37,388 | -€112,380 | -75.0% |
| Equity | 10/15 | -€83,029 | -€230,209 | -€147,180 | -177.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€93,029 | -€240,209 | -€147,180 | -158.2% |
| Amounts payable | 17/49 | €232,797 | €267,597 | +€34,800 | +14.9% |
| Amounts payable after more than one year | 17 | €51,755 | €100,278 | +€48,522 | +93.8% |
| Financial debts | 170/4 | €51,755 | €100,278 | +€48,522 | +93.8% |
| Amounts payable within one year | 42/48 | €179,253 | €107,331 | -€71,922 | -40.1% |
| Current portion of amounts payable after more than one year | 42 | €33,544 | €30,368 | -€3,176 | -9.5% |
| Financial debts | 43 | €17,438 | €7,791 | -€9,647 | -55.3% |
| Credit institutions | 430/8 | €17,438 | €7,791 | -€9,647 | -55.3% |
| Trade debts | 44 | €62,084 | €38,049 | -€24,034 | -38.7% |
| Suppliers | 440/4 | €59,070 | €38,049 | -€21,021 | -35.6% |
| Bills of exchange payable | 441 | €3,013 | - | -€3,013 | |
| Taxes, remuneration and social security | 45 | €32,188 | €28,060 | -€4,128 | -12.8% |
| Taxes | 450/3 | €9,356 | €21,252 | +€11,897 | +127.2% |
| Remuneration and social security | 454/9 | €22,833 | €6,808 | -€16,025 | -70.2% |
| Other amounts payable | 47/48 | €34,000 | €3,063 | -€30,936 | -91.0% |
| Accrued charges and deferred income | 492/3 | €1,789 | €59,988 | +€58,199 | +3252.8% |
| Non-recurring operating income | 76A | €1,919 | - | -€1,919 | |
| Remuneration, social security and pensions | 62 | €180,190 | €115,073 | -€65,117 | -36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,452 | €6,549 | -€5,903 | -47.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €12,964 | +€12,964 | |
| Other operating charges | 640/8 | €12,355 | €2,307 | -€10,048 | -81.3% |
| Non-recurring operating charges | 66A | - | €2,304 | +€2,304 | |
| Gross operating margin | 9900 | €210,453 | €63,805 | -€146,648 | -69.7% |
| Operating profit (loss) | 9901 | €5,455 | -€75,394 | -€80,849 | |
| Financial income | 75/76B | €4,919 | - | -€4,919 | |
| Recurring financial income | 75 | €4,919 | - | -€4,919 | |
| Financial charges | 65/66B | €9,341 | €71,434 | +€62,093 | +664.7% |
| Recurring financial charges | 65 | €9,341 | €14,750 | +€5,409 | +57.9% |
| Non-recurring financial charges | 66B | - | €56,684 | +€56,684 | |
| Profit (loss) for the period before taxes | 9903 | €1,033 | -€146,828 | -€147,861 | |
| Income taxes | 67/77 | €3,429 | €352 | -€3,077 | -89.7% |
| Profit (loss) for the period | 9904 | -€2,396 | -€147,180 | -€144,784 | -6043.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,396 | -€147,180 | -€144,784 | -6043.9% |
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 5 October 2026 via checked.be.