AS: 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.
AS
Largest movements
- Cash -€5,722
down €5,722 (-7.2%), from €79,166 to €73,444
mainly Trade debts (-€15,378) and Tax, wage and social debts (-€3,863)
- Receivables within one year +€3,537
up €3,537 (+5.4%), from €64,977 to €68,513
of which Other amounts receivable: +€3,241
- Tangible fixed assets -€2,016
down €2,016 (-37.2%), from €5,416 to €3,400
of which Plant, machinery and equipment: -€1,010
- Trade debts -€15,378
down €15,378 (-83.7%), from €18,378 to €2,999
- Profit (loss) carried forward +€14,784
up €14,784 (+16.9%), from €87,371 to €102,155
- Tax, wage and social debts -€3,863
down €3,863 (-24.6%), from €15,684 to €11,820
of which Taxes: -€5,868
- Gross operating margin -€35,308
down €35,308 (-46.7%), from €75,576 to €40,268
- Taxes -€2,486
down €2,486 (-27.7%), from €8,968 to €6,483
- Staff costs +€1,677
up €1,677 (+10.0%), from €16,697 to €18,374
- Other operating charges -€1,612
down €1,612 (-47.1%), from €3,424 to €1,812
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 | €155,935 | €152,752 | -€3,183 | -2.0% |
| Fixed assets | 21/28 | €10,286 | €8,270 | -€2,016 | -19.6% |
| Tangible fixed assets | 22/27 | €5,416 | €3,400 | -€2,016 | -37.2% |
| Plant, machinery and equipment | 23 | €3,184 | €2,174 | -€1,010 | -31.7% |
| Furniture and vehicles | 24 | €1,075 | €441 | -€634 | -59.0% |
| Other tangible fixed assets | 26 | €1,157 | €785 | -€372 | -32.2% |
| Financial fixed assets | 28 | €4,870 | €4,870 | = | 0.0% |
| Current assets | 29/58 | €145,649 | €144,482 | -€1,167 | -0.8% |
| Stocks and contracts in progress | 3 | €240 | €315 | +€75 | +31.3% |
| Stocks | 30/36 | €240 | €315 | +€75 | +31.3% |
| Amounts receivable within one year | 40/41 | €64,977 | €68,513 | +€3,537 | +5.4% |
| Trade receivables | 40 | €1,474 | €1,769 | +€295 | +20.0% |
| Other amounts receivable | 41 | €63,503 | €66,744 | +€3,241 | +5.1% |
| Cash at bank and in hand | 54/58 | €79,166 | €73,444 | -€5,722 | -7.2% |
| Deferred charges and accrued income | 490/1 | €1,266 | €2,209 | +€943 | +74.5% |
| Total equity and liabilities | 10/49 | €155,935 | €152,752 | -€3,183 | -2.0% |
| Equity | 10/15 | €107,822 | €122,606 | +€14,784 | +13.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,371 | €102,155 | +€14,784 | +16.9% |
| Amounts payable | 17/49 | €48,113 | €30,146 | -€17,967 | -37.3% |
| Amounts payable within one year | 42/48 | €48,113 | €29,871 | -€18,242 | -37.9% |
| Trade debts | 44 | €18,378 | €2,999 | -€15,378 | -83.7% |
| Suppliers | 440/4 | €18,378 | €2,999 | -€15,378 | -83.7% |
| Taxes, remuneration and social security | 45 | €15,684 | €11,820 | -€3,863 | -24.6% |
| Taxes | 450/3 | €12,550 | €6,682 | -€5,868 | -46.8% |
| Remuneration and social security | 454/9 | €3,134 | €5,139 | +€2,005 | +64.0% |
| Other amounts payable | 47/48 | €14,052 | €15,052 | +€1,000 | +7.1% |
| Accrued charges and deferred income | 492/3 | - | €274 | +€274 | |
| Remuneration, social security and pensions | 62 | €16,697 | €18,374 | +€1,677 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,695 | €2,016 | -€679 | -25.2% |
| Other operating charges | 640/8 | €3,424 | €1,812 | -€1,612 | -47.1% |
| Gross operating margin | 9900 | €75,576 | €40,268 | -€35,308 | -46.7% |
| Operating profit (loss) | 9901 | €52,761 | €18,065 | -€34,695 | -65.8% |
| Financial income | 75/76B | €3,930 | €3,530 | -€399 | -10.2% |
| Recurring financial income | 75 | €3,930 | €3,530 | -€399 | -10.2% |
| Financial charges | 65/66B | €329 | €329 | +€0 | 0.0% |
| Recurring financial charges | 65 | €329 | €329 | +€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €56,361 | €21,267 | -€35,095 | -62.3% |
| Income taxes | 67/77 | €8,968 | €6,483 | -€2,486 | -27.7% |
| Profit (loss) for the period | 9904 | €47,393 | €14,784 | -€32,609 | -68.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,393 | €14,784 | -€32,609 | -68.8% |
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 17 October 2026 via checked.be.