BASELINE 8: 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.
BASELINE 8
Largest movements
- Cash -€23,385
down €23,385 (-78.8%), from €29,659 to €6,274
mainly Net result for the year (-€15,323) and Debts after one year (-€10,458)
- Stocks and contracts -€22,948
down €22,948 (-52.3%), from €43,836 to €20,888
- Tangible fixed assets -€13,723
down €13,723 (-30.3%), from €45,349 to €31,626
of which Plant, machinery and equipment: -€12,462
- Receivables within one year +€6,067
up €6,067 (+224.7%), from €2,700 to €8,767
of which Trade receivables: +€6,058
- Deferred charges and accrued income +€2,264
up €2,264 (+152.3%), from €1,486 to €3,750
- Profit (loss) carried forward -€15,323
down €15,323 (-97.9%), from -€15,649 to -€30,971
- Debts after one year -€10,458
down €10,458 (-31.3%), from €33,448 to €22,990
- Other debts -€8,948
down €8,948 (-63.6%), from €14,076 to €5,128
- Tax, wage and social debts -€8,691
down €8,691 (-29.6%), from €29,348 to €20,657
of which Taxes: -€6,155
- Trade debts -€7,823
down €7,823 (-16.7%), from €46,922 to €39,099
- Gross operating margin -€45,757
down €45,757 (-28.8%), from €159,127 to €113,369
- Staff costs -€14,486
down €14,486 (-11.6%), from €124,408 to €109,922
- Other operating charges -€1,686
down €1,686 (-86.8%), from €1,942 to €256
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 | €123,030 | €71,305 | -€51,725 | -42.0% |
| Fixed assets | 21/28 | €45,349 | €31,626 | -€13,723 | -30.3% |
| Tangible fixed assets | 22/27 | €45,349 | €31,626 | -€13,723 | -30.3% |
| Plant, machinery and equipment | 23 | €36,946 | €24,485 | -€12,462 | -33.7% |
| Other tangible fixed assets | 26 | €8,403 | €7,141 | -€1,261 | -15.0% |
| Current assets | 29/58 | €77,681 | €39,679 | -€38,002 | -48.9% |
| Stocks and contracts in progress | 3 | €43,836 | €20,888 | -€22,948 | -52.3% |
| Stocks | 30/36 | €43,836 | €20,888 | -€22,948 | -52.3% |
| Amounts receivable within one year | 40/41 | €2,700 | €8,767 | +€6,067 | +224.7% |
| Trade receivables | 40 | €2,700 | €8,758 | +€6,058 | +224.4% |
| Other amounts receivable | 41 | €0 | €9 | +€9 | |
| Cash at bank and in hand | 54/58 | €29,659 | €6,274 | -€23,385 | -78.8% |
| Deferred charges and accrued income | 490/1 | €1,486 | €3,750 | +€2,264 | +152.3% |
| Total equity and liabilities | 10/49 | €123,030 | €71,305 | -€51,725 | -42.0% |
| Equity | 10/15 | -€11,899 | -€27,221 | -€15,323 | -128.8% |
| Contributions | 10/11 | €3,750 | €3,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,649 | -€30,971 | -€15,323 | -97.9% |
| Amounts payable | 17/49 | €134,929 | €98,526 | -€36,403 | -27.0% |
| Amounts payable after more than one year | 17 | €33,448 | €22,990 | -€10,458 | -31.3% |
| Financial debts | 170/4 | €33,448 | €22,990 | -€10,458 | -31.3% |
| Amounts payable within one year | 42/48 | €101,481 | €75,536 | -€25,945 | -25.6% |
| Current portion of amounts payable after more than one year | 42 | €9,870 | €10,458 | +€588 | +6.0% |
| Trade debts | 44 | €46,922 | €39,099 | -€7,823 | -16.7% |
| Suppliers | 440/4 | €46,922 | €39,099 | -€7,823 | -16.7% |
| Advances received on contracts in progress | 46 | €1,265 | €195 | -€1,071 | -84.6% |
| Taxes, remuneration and social security | 45 | €29,348 | €20,657 | -€8,691 | -29.6% |
| Taxes | 450/3 | €9,912 | €3,758 | -€6,155 | -62.1% |
| Remuneration and social security | 454/9 | €19,436 | €16,899 | -€2,537 | -13.1% |
| Other amounts payable | 47/48 | €14,076 | €5,128 | -€8,948 | -63.6% |
| Non-recurring operating income | 76A | - | €1,577 | +€1,577 | |
| Remuneration, social security and pensions | 62 | €124,408 | €109,922 | -€14,486 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,315 | €14,211 | -€1,104 | -7.2% |
| Other operating charges | 640/8 | €1,942 | €256 | -€1,686 | -86.8% |
| Gross operating margin | 9900 | €159,127 | €113,369 | -€45,757 | -28.8% |
| Operating profit (loss) | 9901 | €17,462 | -€11,019 | -€28,480 | |
| Financial income | 75/76B | €74 | €57 | -€17 | -23.2% |
| Recurring financial income | 75 | €74 | €57 | -€17 | -23.2% |
| Financial charges | 65/66B | €4,814 | €4,361 | -€453 | -9.4% |
| Recurring financial charges | 65 | €4,814 | €4,361 | -€453 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €12,721 | -€15,323 | -€28,044 | |
| Profit (loss) for the period | 9904 | €12,721 | -€15,323 | -€28,044 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,721 | -€15,323 | -€28,044 |
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 9 October 2026 via checked.be.