AOI: 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.
AOI
Largest movements
- Receivables within one year -€74,257
down €74,257 (-30.4%), from €244,602 to €170,345
of which Other amounts receivable: -€97,773
- Cash +€61,431
up €61,431 (+82.1%), from €74,824 to €136,254
mainly Receivables within one year (+€74,257) and Trade debts (+€37,500)
- Receivables after one year +€17,000
new in 2025: €17,000
- Tangible fixed assets -€4,668
down €4,668 (-70.0%), from €6,669 to €2,001
of which Furniture and vehicles: -€4,200
- Debts after one year -€38,897
down €38,897 (-21.1%), from €184,252 to €145,355
of which Other amounts payable: -€30,574
- Trade debts +€37,500
up €37,500 (+52.9%), from €70,918 to €108,418
- Current portion of long-term debt -€5,964
no longer reported in 2025 (was €5,964)
- Advances received +€4,470
new in 2025: €4,470
- Profit (loss) carried forward +€3,825
up €3,825 (+10.6%), from -€36,146 to -€32,321
- Write-downs +€35,118
up €35,118 (+135.1%), from €25,994 to €61,111
- Staff costs -€19,873
no longer reported in 2025 (was €19,873)
- Gross operating margin -€14,507
down €14,507 (-16.0%), from €90,468 to €75,960
- Depreciation -€3,130
down €3,130 (-40.1%), from €7,797 to €4,668
- Financial income +€2,657
up €2,657 (+57.5%), from €4,624 to €7,281
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 | €326,095 | €325,627 | -€468 | -0.1% |
| Fixed assets | 21/28 | €6,669 | €2,001 | -€4,668 | -70.0% |
| Tangible fixed assets | 22/27 | €6,669 | €2,001 | -€4,668 | -70.0% |
| Plant, machinery and equipment | 23 | €502 | €35 | -€467 | -93.0% |
| Furniture and vehicles | 24 | €6,167 | €1,966 | -€4,200 | -68.1% |
| Current assets | 29/58 | €319,426 | €323,626 | +€4,200 | +1.3% |
| Amounts receivable after more than one year | 29 | - | €17,000 | +€17,000 | |
| Other amounts receivable | 291 | - | €17,000 | +€17,000 | |
| Amounts receivable within one year | 40/41 | €244,602 | €170,345 | -€74,257 | -30.4% |
| Trade receivables | 40 | €146,829 | €170,345 | +€23,516 | +16.0% |
| Other amounts receivable | 41 | €97,773 | - | -€97,773 | |
| Cash at bank and in hand | 54/58 | €74,824 | €136,254 | +€61,431 | +82.1% |
| Deferred charges and accrued income | 490/1 | - | €27 | +€27 | |
| Total equity and liabilities | 10/49 | €326,095 | €325,627 | -€468 | -0.1% |
| Equity | 10/15 | €25,354 | €29,179 | +€3,825 | +15.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,146 | -€32,321 | +€3,825 | +10.6% |
| Amounts payable | 17/49 | €300,740 | €296,448 | -€4,293 | -1.4% |
| Amounts payable after more than one year | 17 | €184,252 | €145,355 | -€38,897 | -21.1% |
| Financial debts | 170/4 | €8,323 | - | -€8,323 | |
| Other amounts payable | 178/9 | €175,930 | €145,355 | -€30,574 | -17.4% |
| Amounts payable within one year | 42/48 | €115,588 | €150,992 | +€35,404 | +30.6% |
| Current portion of amounts payable after more than one year | 42 | €5,964 | - | -€5,964 | |
| Trade debts | 44 | €70,918 | €108,418 | +€37,500 | +52.9% |
| Suppliers | 440/4 | €70,918 | €108,418 | +€37,500 | +52.9% |
| Advances received on contracts in progress | 46 | - | €4,470 | +€4,470 | |
| Taxes, remuneration and social security | 45 | €38,705 | €38,104 | -€601 | -1.6% |
| Taxes | 450/3 | €38,705 | €38,104 | -€601 | -1.6% |
| Accrued charges and deferred income | 492/3 | €900 | €100 | -€800 | -88.9% |
| Non-recurring operating income | 76A | €16,983 | - | -€16,983 | |
| Remuneration, social security and pensions | 62 | €19,873 | - | -€19,873 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,797 | €4,668 | -€3,130 | -40.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,994 | €61,111 | +€35,118 | +135.1% |
| Other operating charges | 640/8 | €1,366 | €1,797 | +€431 | +31.5% |
| Non-recurring operating charges | 66A | €11,767 | - | -€11,767 | |
| Gross operating margin | 9900 | €90,468 | €75,960 | -€14,507 | -16.0% |
| Operating profit (loss) | 9901 | €23,671 | €8,384 | -€15,286 | -64.6% |
| Financial income | 75/76B | €4,624 | €7,281 | +€2,657 | +57.5% |
| Recurring financial income | 75 | €4,624 | €7,281 | +€2,657 | +57.5% |
| Financial charges | 65/66B | €4,257 | €5,320 | +€1,063 | +25.0% |
| Recurring financial charges | 65 | €4,257 | €5,320 | +€1,063 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | €24,038 | €10,346 | -€13,692 | -57.0% |
| Income taxes | 67/77 | €7,089 | €6,520 | -€568 | -8.0% |
| Profit (loss) for the period | 9904 | €16,949 | €3,825 | -€13,124 | -77.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,949 | €3,825 | -€13,124 | -77.4% |
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 6 October 2026 via checked.be.