Axis: 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.
Axis
Largest movements
- Cash -€199,920
down €199,920 (-38.1%), from €525,387 to €325,467
mainly Net result for the year (-€438,712) and Receivables within one year (-€124,004)
- Receivables within one year +€124,004
up €124,004 (+24.4%), from €508,639 to €632,643
of which Trade receivables: +€141,309
- Deferred charges and accrued income -€38,872
down €38,872 (-33.5%), from €115,996 to €77,124
- Profit (loss) carried forward -€438,712
down €438,712, from €378,769 to -€59,943
- Trade debts +€326,263
up €326,263 (+68.3%), from €477,634 to €803,897
- Accrued charges and deferred income -€14,188
down €14,188 (-51.9%), from €27,338 to €13,150
- Staff costs +€141,623
up €141,623 (+4.8%), from €2.9m to €3.1m
- Turnover -€108,729
down €108,729 (-2.8%), from €3.9m to €3.7m
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 | €1,253,286 | €1,124,181 | -€129,105 | -10.3% |
| Fixed assets | 21/28 | €103,264 | €88,947 | -€14,317 | -13.9% |
| Intangible fixed assets | 21 | €2,356 | €0 | -€2,356 | -100.0% |
| Tangible fixed assets | 22/27 | €44,354 | €32,393 | -€11,961 | -27.0% |
| Plant, machinery and equipment | 23 | €10,292 | €18,324 | +€8,032 | +78.0% |
| Furniture and vehicles | 24 | €698 | €533 | -€165 | -23.7% |
| Other tangible fixed assets | 26 | €33,364 | €13,536 | -€19,828 | -59.4% |
| Financial fixed assets | 28 | €56,554 | €56,554 | +€0 | 0.0% |
| Current assets | 29/58 | €1,150,022 | €1,035,234 | -€114,788 | -10.0% |
| Amounts receivable within one year | 40/41 | €508,639 | €632,643 | +€124,004 | +24.4% |
| Trade receivables | 40 | €362,753 | €504,062 | +€141,309 | +39.0% |
| Other amounts receivable | 41 | €145,886 | €128,581 | -€17,305 | -11.9% |
| Cash at bank and in hand | 54/58 | €525,387 | €325,467 | -€199,920 | -38.1% |
| Deferred charges and accrued income | 490/1 | €115,996 | €77,124 | -€38,872 | -33.5% |
| Total equity and liabilities | 10/49 | €1,253,286 | €1,124,181 | -€129,105 | -10.3% |
| Equity | 10/15 | €558,219 | €119,507 | -€438,712 | -78.6% |
| Contributions | 10/11 | €112,000 | €112,000 | = | 0.0% |
| Capital | 10 | €112,000 | €112,000 | = | 0.0% |
| Issued capital | 100 | €112,000 | €112,000 | = | 0.0% |
| Reserves | 13 | €67,450 | €67,450 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,200 | €11,200 | = | 0.0% |
| Legal reserve | 130 | €11,200 | €11,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €378,769 | -€59,943 | -€438,712 | |
| Amounts payable | 17/49 | €695,067 | €1,004,674 | +€309,607 | +44.5% |
| Amounts payable within one year | 42/48 | €667,729 | €991,524 | +€323,795 | +48.5% |
| Current portion of amounts payable after more than one year | 42 | €12,647 | €12,612 | -€35 | -0.3% |
| Trade debts | 44 | €477,634 | €803,897 | +€326,263 | +68.3% |
| Suppliers | 440/4 | €477,634 | €803,897 | +€326,263 | +68.3% |
| Taxes, remuneration and social security | 45 | €177,448 | €175,014 | -€2,434 | -1.4% |
| Taxes | 450/3 | €33,929 | €72,348 | +€38,419 | +113.2% |
| Remuneration and social security | 454/9 | €143,519 | €102,666 | -€40,853 | -28.5% |
| Accrued charges and deferred income | 492/3 | €27,338 | €13,150 | -€14,188 | -51.9% |
| Turnover | 70 | €3,851,930 | €3,743,201 | -€108,729 | -2.8% |
| Non-recurring operating income | 76A | €61 | - | -€61 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,337,747 | €1,318,120 | -€19,627 | -1.5% |
| Remuneration, social security and pensions | 62 | €2,932,232 | €3,073,855 | +€141,623 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,177 | €29,911 | -€1,266 | -4.1% |
| Other operating charges | 640/8 | €318 | €320 | +€2 | +0.6% |
| Gross operating margin | 9900 | €2,680,332 | €2,669,271 | -€11,061 | -0.4% |
| Operating profit (loss) | 9901 | -€283,395 | -€434,815 | -€151,420 | -53.4% |
| Financial charges | 65/66B | €3,991 | €2,024 | -€1,967 | -49.3% |
| Recurring financial charges | 65 | €3,991 | €2,024 | -€1,967 | -49.3% |
| Profit (loss) for the period before taxes | 9903 | -€287,386 | -€436,839 | -€149,453 | -52.0% |
| Income taxes | 67/77 | €1,852 | €1,873 | +€21 | +1.1% |
| Profit (loss) for the period | 9904 | -€289,238 | -€438,712 | -€149,474 | -51.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€289,238 | -€438,712 | -€149,474 | -51.7% |
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.