BALIKCI 2: 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.
BALIKCI 2
Largest movements
- Receivables within one year +€79,449
up €79,449 (+186%), from €42,713 to €122,162
of which Trade receivables: +€44,461
- Cash -€29,747
down €29,747 (-72.5%), from €41,032 to €11,285
mainly Net result for the year (-€97,442) and Receivables within one year (-€79,449)
- Stocks and contracts -€26,456
down €26,456 (-31.4%), from €84,325 to €57,870
- Deferred charges and accrued income -€3,637
down €3,637 (-83.1%), from €4,378 to €741
- Trade debts +€75,452
up €75,452 (+56.7%), from €133,133 to €208,586
- Reserves -€61,805
down €61,805 (-66.0%), from €93,665 to €31,860
- Profit (loss) carried forward -€35,636
new in 2025: -€35,636
- Other debts +€30,491
up €30,491, from €0 to €30,491
- Accrued charges and deferred income +€9,176
new in 2025: €9,176
- Gross operating margin -€88,360
down €88,360 (-33.2%), from €266,481 to €178,122
- Staff costs +€26,151
up €26,151 (+10.9%), from €240,420 to €266,572
- Taxes -€6,879
down €6,879 (-95.4%), from €7,211 to €331
- Financial charges +€2,868
up €2,868 (+89.3%), from €3,213 to €6,082
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 | €261,752 | €278,574 | +€16,822 | +6.4% |
| Formation expenses | 20 | €738 | €431 | -€307 | -41.6% |
| Fixed assets | 21/28 | €23,566 | €21,085 | -€2,481 | -10.5% |
| Tangible fixed assets | 22/27 | €17,176 | €14,695 | -€2,481 | -14.4% |
| Furniture and vehicles | 24 | €5,358 | €4,204 | -€1,154 | -21.5% |
| Other tangible fixed assets | 26 | €11,818 | €10,491 | -€1,327 | -11.2% |
| Financial fixed assets | 28 | €6,390 | €6,390 | = | 0.0% |
| Current assets | 29/58 | €237,448 | €257,058 | +€19,610 | +8.3% |
| Amounts receivable after more than one year | 29 | €65,000 | €65,000 | = | 0.0% |
| Other amounts receivable | 291 | €65,000 | €65,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €84,325 | €57,870 | -€26,456 | -31.4% |
| Stocks | 30/36 | €84,325 | €57,870 | -€26,456 | -31.4% |
| Amounts receivable within one year | 40/41 | €42,713 | €122,162 | +€79,449 | +186% |
| Trade receivables | 40 | €12,900 | €57,361 | +€44,461 | +345% |
| Other amounts receivable | 41 | €29,813 | €64,801 | +€34,988 | +117% |
| Cash at bank and in hand | 54/58 | €41,032 | €11,285 | -€29,747 | -72.5% |
| Deferred charges and accrued income | 490/1 | €4,378 | €741 | -€3,637 | -83.1% |
| Total equity and liabilities | 10/49 | €261,752 | €278,574 | +€16,822 | +6.4% |
| Equity | 10/15 | €99,865 | €2,424 | -€97,442 | -97.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €93,665 | €31,860 | -€61,805 | -66.0% |
| Distributable reserves | 133 | €93,665 | €31,860 | -€61,805 | -66.0% |
| Profit (loss) carried forward | 14 | - | -€35,636 | -€35,636 | |
| Amounts payable | 17/49 | €161,886 | €276,150 | +€114,264 | +70.6% |
| Amounts payable within one year | 42/48 | €161,886 | €266,974 | +€105,088 | +64.9% |
| Financial debts | 43 | - | €4,985 | +€4,985 | |
| Credit institutions | 430/8 | - | €4,985 | +€4,985 | |
| Trade debts | 44 | €133,133 | €208,586 | +€75,452 | +56.7% |
| Suppliers | 440/4 | €133,133 | €208,586 | +€75,452 | +56.7% |
| Taxes, remuneration and social security | 45 | €28,753 | €22,912 | -€5,841 | -20.3% |
| Taxes | 450/3 | €4,526 | €3,256 | -€1,270 | -28.1% |
| Remuneration and social security | 454/9 | €24,227 | €19,656 | -€4,571 | -18.9% |
| Other amounts payable | 47/48 | €0 | €30,491 | +€30,491 | |
| Accrued charges and deferred income | 492/3 | - | €9,176 | +€9,176 | |
| Non-recurring operating income | 76A | €2,432 | €0 | -€2,432 | -100% |
| Remuneration, social security and pensions | 62 | €240,420 | €266,572 | +€26,151 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,975 | €2,788 | +€813 | +41.2% |
| Other operating charges | 640/8 | €1,554 | €1,033 | -€521 | -33.5% |
| Non-recurring operating charges | 66A | €110 | €0 | -€110 | -100% |
| Gross operating margin | 9900 | €266,481 | €178,122 | -€88,360 | -33.2% |
| Operating profit (loss) | 9901 | €22,423 | -€92,271 | -€114,694 | |
| Financial income | 75/76B | €2,496 | €1,242 | -€1,253 | -50.2% |
| Recurring financial income | 75 | €2,496 | €1,242 | -€1,253 | -50.2% |
| Financial charges | 65/66B | €3,213 | €6,082 | +€2,868 | +89.3% |
| Recurring financial charges | 65 | €3,213 | €6,082 | +€2,868 | +89.3% |
| Profit (loss) for the period before taxes | 9903 | €21,705 | -€97,110 | -€118,816 | |
| Income taxes | 67/77 | €7,211 | €331 | -€6,879 | -95.4% |
| Profit (loss) for the period | 9904 | €14,495 | -€97,442 | -€111,936 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,495 | -€97,442 | -€111,936 |
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.