ART 4: 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.
ART 4
Largest movements
- Cash -€33,361
no longer reported in 2025 (was €33,361)
mainly Receivables within one year (-€33,237) and Net result for the year (-€1,043)
- Receivables within one year +€33,237
up €33,237 (+2367.1%), from €1,404 to €34,641
of which Other amounts receivable: +€33,237
- Profit (loss) carried forward -€1,043
down €1,043 (-0.2%), from -€473,232 to -€474,276
- Trade debts +€919
up €919 (+110.4%), from €832 to €1,751
- Gross operating margin +€213
up €213 (+29.1%), from -€733 to -€519
- Financial income +€79
new in 2025: €79
- Financial charges +€15
up €15 (+8.0%), from €188 to €203
- Other operating charges +€12
up €12 (+3.2%), from €387 to €400
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 | €34,765 | €34,641 | -€124 | -0.4% |
| Current assets | 29/58 | €34,765 | €34,641 | -€124 | -0.4% |
| Amounts receivable within one year | 40/41 | €1,404 | €34,641 | +€33,237 | +2367.1% |
| Trade receivables | 40 | €1,325 | €1,325 | = | 0.0% |
| Other amounts receivable | 41 | €79 | €33,316 | +€33,237 | +41997.8% |
| Cash at bank and in hand | 54/58 | €33,361 | - | -€33,361 | |
| Total equity and liabilities | 10/49 | €34,765 | €34,641 | -€124 | -0.4% |
| Equity | 10/15 | -€467,032 | -€468,076 | -€1,043 | -0.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€473,232 | -€474,276 | -€1,043 | -0.2% |
| Amounts payable | 17/49 | €501,798 | €502,717 | +€919 | +0.2% |
| Amounts payable within one year | 42/48 | €501,798 | €502,717 | +€919 | +0.2% |
| Trade debts | 44 | €832 | €1,751 | +€919 | +110.4% |
| Suppliers | 440/4 | €832 | €1,751 | +€919 | +110.4% |
| Other amounts payable | 47/48 | €500,965 | €500,965 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€733 | -€519 | +€213 | +29.1% |
| Operating profit (loss) | 9901 | -€1,120 | -€919 | +€201 | +17.9% |
| Financial income | 75/76B | - | €79 | +€79 | |
| Recurring financial income | 75 | - | €79 | +€79 | |
| Financial charges | 65/66B | €188 | €203 | +€15 | +8.0% |
| Recurring financial charges | 65 | €188 | €203 | +€15 | +8.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,308 | -€1,043 | +€265 | +20.3% |
| Profit (loss) for the period | 9904 | -€1,308 | -€1,043 | +€265 | +20.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,308 | -€1,043 | +€265 | +20.3% |
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.