Belief: 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.
Belief
Largest movements
- Cash -€15,834
down €15,834 (-44.9%), from €35,256 to €19,422
mainly Net result for the year (-€16,177) and Trade debts (-€3,351)
- Receivables within one year -€2,474
down €2,474 (-90.7%), from €2,729 to €255
of which Trade receivables: -€1,552
- Tangible fixed assets -€2,433
down €2,433 (-32.4%), from €7,511 to €5,078
- Intangible fixed assets -€800
down €800 (-40.2%), from €1,990 to €1,190
- Profit (loss) carried forward -€16,177
down €16,177 (-242%), from -€6,686 to -€22,863
- Trade debts -€3,351
no longer reported in 2025 (was €3,351)
- Other debts -€2,012
down €2,012 (-4.2%), from €48,320 to €46,309
- Financial income -€63,231
no longer reported in 2025 (was €63,231)
- Gross operating margin +€34,214
up €34,214 (+89.8%), from -€38,115 to -€3,901
- Other operating charges +€8,307
up €8,307 (+1,830%), from €454 to €8,761
- Depreciation -€493
down €493 (-13.2%), from €3,726 to €3,233
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 | €47,486 | €25,945 | -€21,540 | -45.4% |
| Fixed assets | 21/28 | €9,501 | €6,268 | -€3,233 | -34.0% |
| Intangible fixed assets | 21 | €1,990 | €1,190 | -€800 | -40.2% |
| Tangible fixed assets | 22/27 | €7,511 | €5,078 | -€2,433 | -32.4% |
| Furniture and vehicles | 24 | €7,511 | €5,078 | -€2,433 | -32.4% |
| Current assets | 29/58 | €37,985 | €19,677 | -€18,308 | -48.2% |
| Amounts receivable within one year | 40/41 | €2,729 | €255 | -€2,474 | -90.7% |
| Trade receivables | 40 | €1,552 | - | -€1,552 | |
| Other amounts receivable | 41 | €1,177 | €255 | -€922 | -78.3% |
| Cash at bank and in hand | 54/58 | €35,256 | €19,422 | -€15,834 | -44.9% |
| Total equity and liabilities | 10/49 | €47,486 | €25,945 | -€21,540 | -45.4% |
| Equity | 10/15 | -€4,186 | -€20,363 | -€16,177 | -386% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,686 | -€22,863 | -€16,177 | -242% |
| Amounts payable | 17/49 | €51,672 | €46,309 | -€5,363 | -10.4% |
| Amounts payable within one year | 42/48 | €51,672 | €46,309 | -€5,363 | -10.4% |
| Trade debts | 44 | €3,351 | - | -€3,351 | |
| Suppliers | 440/4 | €3,351 | - | -€3,351 | |
| Other amounts payable | 47/48 | €48,320 | €46,309 | -€2,012 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,726 | €3,233 | -€493 | -13.2% |
| Other operating charges | 640/8 | €454 | €8,761 | +€8,307 | +1,830% |
| Gross operating margin | 9900 | -€38,115 | -€3,901 | +€34,214 | +89.8% |
| Operating profit (loss) | 9901 | -€42,295 | -€15,894 | +€26,400 | +62.4% |
| Financial income | 75/76B | €63,231 | - | -€63,231 | |
| Recurring financial income | 75 | €63,231 | - | -€63,231 | |
| Financial charges | 65/66B | €89 | €90 | +€2 | +1.7% |
| Recurring financial charges | 65 | €89 | €90 | +€2 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €20,848 | -€15,984 | -€36,832 | |
| Income taxes | 67/77 | €202 | €193 | -€9 | -4.6% |
| Profit (loss) for the period | 9904 | €20,645 | -€16,177 | -€36,823 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,645 | -€16,177 | -€36,823 |
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 20 October 2026 via checked.be.