ASSETS: 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.
ASSETS
Largest movements
- Cash -€33,786
down €33,786 (-44.6%), from €75,704 to €41,917
mainly Receivables within one year (-€18,368) and Investment in fixed assets (net) (-€13,367)
- Receivables within one year +€18,368
up €18,368 (+17.2%), from €106,841 to €125,209
of which Other amounts receivable: +€25,452
- Deferred charges and accrued income -€7,844
down €7,844 (-65.2%), from €12,030 to €4,186
- Tax, wage and social debts -€10,704
down €10,704 (-29.2%), from €36,691 to €25,987
of which Remuneration and social security: -€7,439
- Debts after one year -€8,834
down €8,834 (-43.3%), from €20,411 to €11,577
- Profit (loss) carried forward -€3,421
new in 2025: -€3,421
- Trade debts -€3,103
down €3,103 (-53.7%), from €5,784 to €2,681
- Gross operating margin -€45,160
down €45,160 (-29.8%), from €151,449 to €106,289
- Taxes -€18,135
down €18,135 (-97.7%), from €18,553 to €417
- Depreciation +€3,570
up €3,570 (+28.0%), from €12,738 to €16,308
- Staff costs +€2,392
up €2,392 (+2.7%), from €89,090 to €91,482
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 | €259,458 | €233,256 | -€26,203 | -10.1% |
| Fixed assets | 21/28 | €64,884 | €61,943 | -€2,940 | -4.5% |
| Intangible fixed assets | 21 | €1,542 | €404 | -€1,138 | -73.8% |
| Tangible fixed assets | 22/27 | €59,137 | €58,834 | -€303 | -0.5% |
| Land and buildings | 22 | €11,783 | €23,351 | +€11,568 | +98.2% |
| Plant, machinery and equipment | 23 | €1,514 | €601 | -€912 | -60.3% |
| Furniture and vehicles | 24 | €45,841 | €34,882 | -€10,959 | -23.9% |
| Financial fixed assets | 28 | €4,205 | €2,705 | -€1,500 | -35.7% |
| Current assets | 29/58 | €194,574 | €171,312 | -€23,262 | -12.0% |
| Amounts receivable within one year | 40/41 | €106,841 | €125,209 | +€18,368 | +17.2% |
| Trade receivables | 40 | €31,262 | €24,178 | -€7,084 | -22.7% |
| Other amounts receivable | 41 | €75,579 | €101,032 | +€25,452 | +33.7% |
| Cash at bank and in hand | 54/58 | €75,704 | €41,917 | -€33,786 | -44.6% |
| Deferred charges and accrued income | 490/1 | €12,030 | €4,186 | -€7,844 | -65.2% |
| Total equity and liabilities | 10/49 | €259,458 | €233,256 | -€26,203 | -10.1% |
| Equity | 10/15 | €187,590 | €184,169 | -€3,421 | -1.8% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €181,384 | €181,384 | = | 0.0% |
| Distributable reserves | 133 | €181,384 | €181,384 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€3,421 | -€3,421 | |
| Amounts payable | 17/49 | €71,868 | €49,087 | -€22,782 | -31.7% |
| Amounts payable after more than one year | 17 | €20,411 | €11,577 | -€8,834 | -43.3% |
| Financial debts | 170/4 | €20,411 | €11,577 | -€8,834 | -43.3% |
| Amounts payable within one year | 42/48 | €50,945 | €37,502 | -€13,444 | -26.4% |
| Current portion of amounts payable after more than one year | 42 | €8,470 | €8,834 | +€364 | +4.3% |
| Trade debts | 44 | €5,784 | €2,681 | -€3,103 | -53.7% |
| Suppliers | 440/4 | €5,784 | €2,681 | -€3,103 | -53.7% |
| Taxes, remuneration and social security | 45 | €36,691 | €25,987 | -€10,704 | -29.2% |
| Taxes | 450/3 | €13,992 | €10,728 | -€3,264 | -23.3% |
| Remuneration and social security | 454/9 | €22,699 | €15,259 | -€7,439 | -32.8% |
| Accrued charges and deferred income | 492/3 | €512 | €8 | -€504 | -98.4% |
| Remuneration, social security and pensions | 62 | €89,090 | €91,482 | +€2,392 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,738 | €16,308 | +€3,570 | +28.0% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €151,449 | €106,289 | -€45,160 | -29.8% |
| Operating profit (loss) | 9901 | €49,503 | -€1,621 | -€51,124 | |
| Financial charges | 65/66B | €1,316 | €1,383 | +€67 | +5.1% |
| Recurring financial charges | 65 | €1,316 | €1,383 | +€67 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €48,187 | -€3,004 | -€51,190 | |
| Income taxes | 67/77 | €18,553 | €417 | -€18,135 | -97.7% |
| Profit (loss) for the period | 9904 | €29,634 | -€3,421 | -€33,055 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,634 | -€3,421 | -€33,055 |
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 2 October 2026 via checked.be.