ASPECT ANALYTICS: 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.
ASPECT ANALYTICS
Largest movements
- Cash +€1.7m
up €1.7m (+344.7%), from €493,893 to €2.2m
mainly Contributions, distributions and other (+€5.6m) and Depreciation (+€916,395)
- Current investments +€1.0m
new in 2025: €1.0m
- Receivables within one year -€125,532
down €125,532 (-4.9%), from €2.6m to €2.5m
of which Other amounts receivable: -€188,634
- Contributions +€5.6m
up €5.6m (+222.2%), from €2.5m to €8.1m
- Profit (loss) carried forward -€2.5m
down €2.5m (-403.2%), from -€619,166 to -€3.1m
- Debts after one year -€1.0m
down €1.0m (-100.0%), from €1.0m to €0
- Trade debts +€363,886
up €363,886 (+293.9%), from €123,808 to €487,694
- Accrued charges and deferred income +€143,967
up €143,967 (+9.8%), from €1.5m to €1.6m
- Gross operating margin -€1.0m
down €1.0m, from €88,510 to -€954,521
- Other operating charges -€168,084
down €168,084 (-99.0%), from €169,745 to €1,661
- Depreciation +€110,097
up €110,097 (+13.7%), from €806,298 to €916,395
- Staff costs +€73,517
up €73,517 (+14.6%), from €504,570 to €578,087
- Financial charges +€72,535
up €72,535 (+917.4%), from €7,906 to €80,441
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 | €4,538,447 | €7,132,711 | +€2.6m | +57.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €1,409,996 | €1,387,239 | -€22,756 | -1.6% |
| Intangible fixed assets | 21 | €1,378,081 | €1,361,292 | -€16,789 | -1.2% |
| Tangible fixed assets | 22/27 | €31,915 | €25,947 | -€5,968 | -18.7% |
| Furniture and vehicles | 24 | €31,915 | €25,947 | -€5,968 | -18.7% |
| Current assets | 29/58 | €3,128,452 | €5,745,471 | +€2.6m | +83.7% |
| Amounts receivable within one year | 40/41 | €2,582,746 | €2,457,214 | -€125,532 | -4.9% |
| Trade receivables | 40 | €543,267 | €606,369 | +€63,102 | +11.6% |
| Other amounts receivable | 41 | €2,039,479 | €1,850,845 | -€188,634 | -9.2% |
| Current investments | 50/53 | - | €1,000,000 | +€1.0m | |
| Cash at bank and in hand | 54/58 | €493,893 | €2,196,577 | +€1.7m | +344.7% |
| Deferred charges and accrued income | 490/1 | €51,813 | €91,681 | +€39,868 | +76.9% |
| Total equity and liabilities | 10/49 | €4,538,447 | €7,132,711 | +€2.6m | +57.2% |
| Equity | 10/15 | €1,890,103 | €4,968,288 | +€3.1m | +162.9% |
| Contributions | 10/11 | €2,509,269 | €8,084,182 | +€5.6m | +222.2% |
| Capital | 10 | €2,509,269 | €8,084,182 | +€5.6m | +222.2% |
| Issued capital | 100 | €2,509,269 | €8,084,182 | +€5.6m | +222.2% |
| Profit (loss) carried forward | 14 | -€619,166 | -€3,115,894 | -€2.5m | -403.2% |
| Amounts payable | 17/49 | €2,648,344 | €2,164,422 | -€483,922 | -18.3% |
| Amounts payable after more than one year | 17 | €1,002,265 | €0 | -€1.0m | -100.0% |
| Financial debts | 170/4 | €1,002,265 | €0 | -€1.0m | -100.0% |
| Amounts payable within one year | 42/48 | €176,988 | €551,364 | +€374,376 | +211.5% |
| Current portion of amounts payable after more than one year | 42 | €13,183 | €2,265 | -€10,918 | -82.8% |
| Trade debts | 44 | €123,808 | €487,694 | +€363,886 | +293.9% |
| Suppliers | 440/4 | €123,808 | €487,694 | +€363,886 | +293.9% |
| Taxes, remuneration and social security | 45 | €39,885 | €61,345 | +€21,460 | +53.8% |
| Remuneration and social security | 454/9 | €39,885 | €61,345 | +€21,460 | +53.8% |
| Other amounts payable | 47/48 | €112 | €60 | -€52 | -46.3% |
| Accrued charges and deferred income | 492/3 | €1,469,092 | €1,613,059 | +€143,967 | +9.8% |
| Remuneration, social security and pensions | 62 | €504,570 | €578,087 | +€73,517 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €806,298 | €916,395 | +€110,097 | +13.7% |
| Other operating charges | 640/8 | €169,745 | €1,661 | -€168,084 | -99.0% |
| Gross operating margin | 9900 | €88,510 | -€954,521 | -€1.0m | |
| Operating profit (loss) | 9901 | -€1,392,103 | -€2,450,664 | -€1.1m | -76.0% |
| Financial income | 75/76B | €7,973 | €1,273 | -€6,700 | -84.0% |
| Recurring financial income | 75 | €7,973 | €1,273 | -€6,700 | -84.0% |
| Financial charges | 65/66B | €7,906 | €80,441 | +€72,535 | +917.4% |
| Recurring financial charges | 65 | €7,906 | €80,441 | +€72,535 | +917.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,392,037 | -€2,529,833 | -€1.1m | -81.7% |
| Income taxes | 67/77 | -€33,443 | -€33,105 | +€338 | +1.0% |
| Profit (loss) for the period | 9904 | -€1,358,594 | -€2,496,728 | -€1.1m | -83.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,358,594 | -€2,496,728 | -€1.1m | -83.8% |
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.