B-Innuendo: 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.
B-Innuendo
Largest movements
- Tangible fixed assets +€17,194
up €17,194 (+276%), from €6,234 to €23,428
of which Furniture and vehicles: +€18,572
- Receivables within one year -€9,123
down €9,123 (-42.8%), from €21,332 to €12,210
- Current investments -€7,630
no longer reported in 2025 (was €7,630)
- Cash +€3,709
new in 2025: €3,709
mainly Receivables within one year (+€9,123) and Accrued charges and deferred income (+€9,000)
- Intangible fixed assets -€1,481
down €1,481 (-26.5%), from €5,594 to €4,112
- Accrued charges and deferred income +€9,000
new in 2025: €9,000
- Debts after one year -€7,676
down €7,676 (-46.5%), from €16,497 to €8,822
- Trade debts -€3,935
down €3,935 (-42.8%), from €9,201 to €5,266
- Tax, wage and social debts +€3,596
up €3,596 (+98.2%), from €3,661 to €7,257
- Other debts +€1,022
new in 2025: €1,022
- Taxes +€4,732
new in 2025: €4,732
- Gross operating margin -€1,618
down €1,618 (-9.5%), from €16,995 to €15,377
- Depreciation -€990
down €990 (-17.2%), from €5,749 to €4,759
- Financial charges -€968
down €968 (-29.4%), from €3,296 to €2,328
- Other operating charges -€304
down €304 (-22.4%), from €1,359 to €1,055
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 | €40,791 | €43,458 | +€2,668 | +6.5% |
| Fixed assets | 21/28 | €11,828 | €27,540 | +€15,712 | +133% |
| Intangible fixed assets | 21 | €5,594 | €4,112 | -€1,481 | -26.5% |
| Tangible fixed assets | 22/27 | €6,234 | €23,428 | +€17,194 | +276% |
| Plant, machinery and equipment | 23 | €1,309 | €1,125 | -€184 | -14.1% |
| Furniture and vehicles | 24 | €2,652 | €21,223 | +€18,572 | +700% |
| Other tangible fixed assets | 26 | €2,273 | €1,080 | -€1,193 | -52.5% |
| Current assets | 29/58 | €28,963 | €15,918 | -€13,045 | -45.0% |
| Amounts receivable within one year | 40/41 | €21,332 | €12,210 | -€9,123 | -42.8% |
| Trade receivables | 40 | €21,332 | €12,210 | -€9,123 | -42.8% |
| Current investments | 50/53 | €7,630 | - | -€7,630 | |
| Cash at bank and in hand | 54/58 | - | €3,709 | +€3,709 | |
| Total equity and liabilities | 10/49 | €40,791 | €43,458 | +€2,668 | +6.5% |
| Equity | 10/15 | €4,131 | €4,802 | +€671 | +16.2% |
| Contributions | 10/11 | €7,262 | €7,262 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,991 | -€4,320 | +€671 | +13.4% |
| Amounts payable | 17/49 | €36,660 | €38,656 | +€1,996 | +5.4% |
| Amounts payable after more than one year | 17 | €16,497 | €8,822 | -€7,676 | -46.5% |
| Financial debts | 170/4 | €16,497 | €8,822 | -€7,676 | -46.5% |
| Amounts payable within one year | 42/48 | €20,162 | €20,835 | +€672 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €7,301 | €7,289 | -€11 | -0.2% |
| Trade debts | 44 | €9,201 | €5,266 | -€3,935 | -42.8% |
| Suppliers | 440/4 | €9,201 | €5,266 | -€3,935 | -42.8% |
| Taxes, remuneration and social security | 45 | €3,661 | €7,257 | +€3,596 | +98.2% |
| Taxes | 450/3 | €3,661 | €7,257 | +€3,596 | +98.2% |
| Other amounts payable | 47/48 | - | €1,022 | +€1,022 | |
| Accrued charges and deferred income | 492/3 | - | €9,000 | +€9,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,749 | €4,759 | -€990 | -17.2% |
| Other operating charges | 640/8 | €1,359 | €1,055 | -€304 | -22.4% |
| Non-recurring operating charges | 66A | - | €1,832 | +€1,832 | |
| Gross operating margin | 9900 | €16,995 | €15,377 | -€1,618 | -9.5% |
| Operating profit (loss) | 9901 | €9,887 | €7,731 | -€2,156 | -21.8% |
| Financial income | 75/76B | €53 | €1 | -€52 | -98.7% |
| Recurring financial income | 75 | €53 | €1 | -€52 | -98.7% |
| Financial charges | 65/66B | €3,296 | €2,328 | -€968 | -29.4% |
| Recurring financial charges | 65 | €3,296 | €2,328 | -€968 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €6,643 | €5,403 | -€1,240 | -18.7% |
| Income taxes | 67/77 | - | €4,732 | +€4,732 | |
| Profit (loss) for the period | 9904 | €6,643 | €671 | -€5,972 | -89.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,643 | €671 | -€5,972 | -89.9% |
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 25 October 2026 via checked.be.