Audaces: 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.
Audaces
Largest movements
- Receivables after one year -€204,434
down €204,434 (-76.8%), from €266,082 to €61,648
- Deferred charges and accrued income -€31,165
down €31,165 (-95.6%), from €32,605 to €1,440
- Receivables within one year +€26,935
up €26,935 (+129%), from €20,918 to €47,853
of which Trade receivables: +€26,935
- Cash -€7,548
down €7,548 (-39.7%), from €19,031 to €11,483
mainly Contributions, distributions and other (-€192,090) and Other debts (-€117,958)
- Other debts -€117,958
down €117,958 (-83.2%), from €141,811 to €23,853
- Profit (loss) carried forward -€107,430
down €107,430 (-63.7%), from €168,561 to €61,131
- Short-term financial debts +€6,408
up €6,408 (+39.1%), from €16,391 to €22,799
- Gross operating margin +€39,561
up €39,561 (+54.5%), from €72,552 to €112,113
- Taxes +€8,985
up €8,985 (+57.2%), from €15,706 to €24,691
- Financial income -€2,918
down €2,918 (-37.0%), from €7,883 to €4,965
- Other operating charges +€1,596
up €1,596 (+333%), from €479 to €2,075
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 | €354,299 | €136,289 | -€218,010 | -61.5% |
| Fixed assets | 21/28 | €15,664 | €13,866 | -€1,798 | -11.5% |
| Tangible fixed assets | 22/27 | €15,559 | €13,761 | -€1,798 | -11.6% |
| Land and buildings | 22 | €11,822 | €10,131 | -€1,691 | -14.3% |
| Furniture and vehicles | 24 | €2,167 | €3,630 | +€1,463 | +67.5% |
| Assets under construction and advance payments | 27 | €1,570 | €0 | -€1,570 | -100% |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €338,635 | €122,423 | -€216,213 | -63.8% |
| Amounts receivable after more than one year | 29 | €266,082 | €61,648 | -€204,434 | -76.8% |
| Other amounts receivable | 291 | €266,082 | €61,648 | -€204,434 | -76.8% |
| Amounts receivable within one year | 40/41 | €20,918 | €47,853 | +€26,935 | +129% |
| Trade receivables | 40 | €20,918 | €47,853 | +€26,935 | +129% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €19,031 | €11,483 | -€7,548 | -39.7% |
| Deferred charges and accrued income | 490/1 | €32,605 | €1,440 | -€31,165 | -95.6% |
| Total equity and liabilities | 10/49 | €354,299 | €136,289 | -€218,010 | -61.5% |
| Equity | 10/15 | €169,561 | €62,131 | -€107,430 | -63.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €168,561 | €61,131 | -€107,430 | -63.7% |
| Amounts payable | 17/49 | €184,738 | €74,158 | -€110,580 | -59.9% |
| Amounts payable within one year | 42/48 | €184,126 | €73,912 | -€110,214 | -59.9% |
| Financial debts | 43 | €16,391 | €22,799 | +€6,408 | +39.1% |
| Credit institutions | 430/8 | €16,391 | €22,799 | +€6,408 | +39.1% |
| Trade debts | 44 | €810 | €4,224 | +€3,415 | +422% |
| Suppliers | 440/4 | €810 | €4,224 | +€3,415 | +422% |
| Taxes, remuneration and social security | 45 | €25,115 | €23,036 | -€2,079 | -8.3% |
| Taxes | 450/3 | €25,115 | €23,036 | -€2,079 | -8.3% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €141,811 | €23,853 | -€117,958 | -83.2% |
| Accrued charges and deferred income | 492/3 | €612 | €247 | -€366 | -59.7% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,486 | €3,735 | +€249 | +7.2% |
| Other operating charges | 640/8 | €479 | €2,075 | +€1,596 | +333% |
| Gross operating margin | 9900 | €72,552 | €112,113 | +€39,561 | +54.5% |
| Operating profit (loss) | 9901 | €68,587 | €106,303 | +€37,715 | +55.0% |
| Financial income | 75/76B | €7,883 | €4,965 | -€2,918 | -37.0% |
| Recurring financial income | 75 | €7,883 | €4,965 | -€2,918 | -37.0% |
| Financial charges | 65/66B | €2,741 | €1,917 | -€824 | -30.1% |
| Recurring financial charges | 65 | €2,741 | €1,917 | -€824 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €73,729 | €109,351 | +€35,622 | +48.3% |
| Income taxes | 67/77 | €15,706 | €24,691 | +€8,985 | +57.2% |
| Profit (loss) for the period | 9904 | €58,023 | €84,660 | +€26,637 | +45.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,023 | €84,660 | +€26,637 | +45.9% |
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 20 October 2026 via checked.be.