BE3: 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.
BE3
Largest movements
- Financial fixed assets -€246,747
down €246,747 (-83.1%), from €297,017 to €50,270
- Formation expenses +€66,756
new in 2025: €66,756
- Intangible fixed assets +€34,263
up €34,263 (+18033.2%), from €190 to €34,453
- Receivables within one year -€18,654
down €18,654 (-57.4%), from €32,511 to €13,857
of which Trade receivables: -€19,395
- Deferred charges and accrued income +€14,025
up €14,025 (+28.9%), from €48,500 to €62,525
- Other debts -€76,845
down €76,845 (-67.4%), from €113,973 to €37,128
- Debts after one year -€68,275
down €68,275 (-7.5%), from €911,666 to €843,391
- Short-term financial debts -€18,645
down €18,645 (-90.0%), from €20,708 to €2,063
- Profit (loss) carried forward +€14,175
up €14,175 (+1.2%), from -€1.2m to -€1.1m
- Trade debts -€4,988
down €4,988 (-53.5%), from €9,332 to €4,344
- Turnover -€24,488
down €24,488 (-39.7%), from €61,699 to €37,211
- Purchases and services -€24,045
down €24,045 (-49.5%), from €48,531 to €24,486
- Financial income -€17,628
down €17,628 (-99.4%), from €17,733 to €105
- Gross operating margin +€8,534
up €8,534 (+64.8%), from €13,169 to €21,703
- Financial charges -€6,006
down €6,006 (-80.5%), from €7,458 to €1,452
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 | €393,188 | €238,610 | -€154,578 | -39.3% |
| Formation expenses | 20 | - | €66,756 | +€66,756 | |
| Fixed assets | 21/28 | €312,147 | €95,472 | -€216,675 | -69.4% |
| Intangible fixed assets | 21 | €190 | €34,453 | +€34,263 | +18033.2% |
| Tangible fixed assets | 22/27 | €14,940 | €10,749 | -€4,191 | -28.1% |
| Plant, machinery and equipment | 23 | €126 | €126 | = | 0.0% |
| Furniture and vehicles | 24 | €12,959 | €8,768 | -€4,191 | -32.3% |
| Leasing and similar rights | 25 | €1,405 | €1,405 | = | 0.0% |
| Other tangible fixed assets | 26 | €450 | €450 | = | 0.0% |
| Financial fixed assets | 28 | €297,017 | €50,270 | -€246,747 | -83.1% |
| Current assets | 29/58 | €81,041 | €76,382 | -€4,659 | -5.7% |
| Amounts receivable within one year | 40/41 | €32,511 | €13,857 | -€18,654 | -57.4% |
| Trade receivables | 40 | €19,450 | €55 | -€19,395 | -99.7% |
| Other amounts receivable | 41 | €13,061 | €13,802 | +€741 | +5.7% |
| Cash at bank and in hand | 54/58 | €30 | - | -€30 | |
| Deferred charges and accrued income | 490/1 | €48,500 | €62,525 | +€14,025 | +28.9% |
| Total equity and liabilities | 10/49 | €393,188 | €238,610 | -€154,578 | -39.3% |
| Equity | 10/15 | -€662,491 | -€648,316 | +€14,175 | +2.1% |
| Contributions | 10/11 | €490,000 | €490,000 | = | 0.0% |
| Capital | 10 | €490,000 | €490,000 | = | 0.0% |
| Issued capital | 100 | €490,000 | €490,000 | = | 0.0% |
| Reserves | 13 | €5,346 | €5,346 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,346 | €5,346 | = | 0.0% |
| Legal reserve | 130 | €5,346 | €5,346 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,157,837 | -€1,143,662 | +€14,175 | +1.2% |
| Amounts payable | 17/49 | €1,055,679 | €886,926 | -€168,753 | -16.0% |
| Amounts payable after more than one year | 17 | €911,666 | €843,391 | -€68,275 | -7.5% |
| Financial debts | 170/4 | €911,666 | €843,391 | -€68,275 | -7.5% |
| Amounts payable within one year | 42/48 | €144,013 | €43,535 | -€100,478 | -69.8% |
| Financial debts | 43 | €20,708 | €2,063 | -€18,645 | -90.0% |
| Credit institutions | 430/8 | €20,708 | €2,063 | -€18,645 | -90.0% |
| Trade debts | 44 | €9,332 | €4,344 | -€4,988 | -53.5% |
| Suppliers | 440/4 | €9,332 | €4,344 | -€4,988 | -53.5% |
| Other amounts payable | 47/48 | €113,973 | €37,128 | -€76,845 | -67.4% |
| Turnover | 70 | €61,699 | €37,211 | -€24,488 | -39.7% |
| Non-recurring operating income | 76A | - | €8,979 | +€8,979 | |
| Goods, raw materials, services and sundry goods | 60/61 | €48,531 | €24,486 | -€24,045 | -49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,378 | €5,026 | -€2,352 | -31.9% |
| Other operating charges | 640/8 | €3,234 | €1,150 | -€2,084 | -64.4% |
| Non-recurring operating charges | 66A | €272 | €5 | -€267 | -98.2% |
| Gross operating margin | 9900 | €13,169 | €21,703 | +€8,534 | +64.8% |
| Operating profit (loss) | 9901 | €2,285 | €15,522 | +€13,237 | +579.3% |
| Financial income | 75/76B | €17,733 | €105 | -€17,628 | -99.4% |
| Recurring financial income | 75 | €17,733 | €105 | -€17,628 | -99.4% |
| Financial charges | 65/66B | €7,458 | €1,452 | -€6,006 | -80.5% |
| Recurring financial charges | 65 | €7,458 | €1,452 | -€6,006 | -80.5% |
| Profit (loss) for the period before taxes | 9903 | €12,560 | €14,175 | +€1,615 | +12.9% |
| Profit (loss) for the period | 9904 | €12,560 | €14,175 | +€1,615 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,560 | €14,175 | +€1,615 | +12.9% |
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 10 October 2026 via checked.be.