As Things Develop: 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 Things Develop
Largest movements
- Cash -€22,605
down €22,605 (-34.0%), from €66,415 to €43,809
mainly Contributions, distributions and other (-€35,000) and Debts after one year (-€15,753)
- Tangible fixed assets -€11,253
down €11,253 (-22.0%), from €51,239 to €39,986
of which Furniture and vehicles: -€13,497
- Receivables within one year +€10,900
up €10,900 (+86.2%), from €12,652 to €23,552
of which Trade receivables: +€12,392
- Debts after one year -€15,753
down €15,753 (-42.5%), from €37,067 to €21,314
- Reserves -€13,779
down €13,779 (-17.8%), from €77,398 to €63,619
- Current portion of long-term debt +€5,335
up €5,335 (+111%), from €4,793 to €10,128
- Tax, wage and social debts -€1,650
down €1,650 (-39.2%), from €4,209 to €2,559
- Gross operating margin +€18,436
up €18,436 (+63.8%), from €28,890 to €47,326
- Other operating charges -€13,344
down €13,344 (-91.1%), from €14,650 to €1,305
- Taxes +€8,068
up €8,068 (+4,413%), from €183 to €8,251
- Depreciation -€1,162
down €1,162 (-7.3%), from €15,833 to €14,671
- Financial charges -€628
down €628 (-24.0%), from €2,615 to €1,987
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 | €141,059 | €117,485 | -€23,574 | -16.7% |
| Fixed assets | 21/28 | €51,541 | €39,986 | -€11,554 | -22.4% |
| Tangible fixed assets | 22/27 | €51,239 | €39,986 | -€11,253 | -22.0% |
| Plant, machinery and equipment | 23 | €1,434 | €434 | -€1,000 | -69.8% |
| Furniture and vehicles | 24 | €49,805 | €36,308 | -€13,497 | -27.1% |
| Other tangible fixed assets | 26 | €0 | €3,244 | +€3,244 | |
| Financial fixed assets | 28 | €301 | €0 | -€301 | -100% |
| Current assets | 29/58 | €89,519 | €77,499 | -€12,020 | -13.4% |
| Stocks and contracts in progress | 3 | €9,122 | €8,405 | -€717 | -7.9% |
| Stocks | 30/36 | €9,122 | €8,405 | -€717 | -7.9% |
| Amounts receivable within one year | 40/41 | €12,652 | €23,552 | +€10,900 | +86.2% |
| Trade receivables | 40 | €10,835 | €23,227 | +€12,392 | +114% |
| Other amounts receivable | 41 | €1,817 | €325 | -€1,492 | -82.1% |
| Cash at bank and in hand | 54/58 | €66,415 | €43,809 | -€22,605 | -34.0% |
| Deferred charges and accrued income | 490/1 | €1,330 | €1,733 | +€402 | +30.3% |
| Total equity and liabilities | 10/49 | €141,059 | €117,485 | -€23,574 | -16.7% |
| Equity | 10/15 | €87,398 | €73,619 | -€13,779 | -15.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €77,398 | €63,619 | -€13,779 | -17.8% |
| Distributable reserves | 133 | €77,398 | €63,619 | -€13,779 | -17.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €53,661 | €43,866 | -€9,796 | -18.3% |
| Amounts payable after more than one year | 17 | €37,067 | €21,314 | -€15,753 | -42.5% |
| Financial debts | 170/4 | €37,067 | €21,314 | -€15,753 | -42.5% |
| Amounts payable within one year | 42/48 | €16,529 | €22,551 | +€6,023 | +36.4% |
| Current portion of amounts payable after more than one year | 42 | €4,793 | €10,128 | +€5,335 | +111% |
| Trade debts | 44 | €1,740 | €3,047 | +€1,306 | +75.0% |
| Suppliers | 440/4 | €1,740 | €3,047 | +€1,306 | +75.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €4,209 | €2,559 | -€1,650 | -39.2% |
| Taxes | 450/3 | €4,209 | €2,559 | -€1,650 | -39.2% |
| Other amounts payable | 47/48 | €5,786 | €6,817 | +€1,031 | +17.8% |
| Accrued charges and deferred income | 492/3 | €66 | €0 | -€66 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,833 | €14,671 | -€1,162 | -7.3% |
| Other operating charges | 640/8 | €14,650 | €1,305 | -€13,344 | -91.1% |
| Gross operating margin | 9900 | €28,890 | €47,326 | +€18,436 | +63.8% |
| Operating profit (loss) | 9901 | -€1,592 | €31,350 | +€32,942 | |
| Financial income | 75/76B | €56 | €109 | +€53 | +94.9% |
| Recurring financial income | 75 | €56 | €109 | +€53 | +94.9% |
| Financial charges | 65/66B | €2,615 | €1,987 | -€628 | -24.0% |
| Recurring financial charges | 65 | €2,615 | €1,987 | -€628 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,150 | €29,472 | +€33,623 | |
| Income taxes | 67/77 | €183 | €8,251 | +€8,068 | +4,413% |
| Profit (loss) for the period | 9904 | -€4,333 | €21,221 | +€25,555 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,333 | €21,221 | +€25,555 |
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 15 October 2026 via checked.be.