Bike Project: 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.
What changed
Bike Project
NACE 47.632, Retail sale of bicycles
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€7,947
2024 · €30,674-€38,620
Equity
€549,427
2024 · €557,374-€7,947
Cash
€8,313
2024 · €11,029-€2,716
Balance sheet total
€2.1m
2024 · €2.2m-€80,510
Largest movements
Assets
- Stocks and contracts -€79,434
down €79,434 (-7.7%), from €1.0m to €946,708
Equity and liabilities
- Current portion of long-term debt -€55,136
down €55,136 (-45.7%), from €120,563 to €65,427
- Tax, wage and social debts +€49,295
up €49,295 (+42.3%), from €116,430 to €165,725
of which Taxes: +€48,651
- Debts after one year -€36,875
down €36,875 (-3.6%), from €1.0m to €980,459
of which Financial debts: -€35,375
- Short-term financial debts -€27,768
down €27,768 (-27.5%), from €101,000 to €73,232
of which Other loans: -€24,171
Income statement
- Staff costs +€36,225
up €36,225 (+105%), from €34,455 to €70,680
- Gross operating margin +€8,832
up €8,832 (+5.3%), from €166,827 to €175,659
- Financial charges +€7,944
up €7,944 (+26.7%), from €29,766 to €37,710
- Depreciation +€4,083
up €4,083 (+6.9%), from €58,882 to €62,965
- Other operating charges -€2,014
down €2,014 (-14.6%), from €13,755 to €11,742
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.
Result 2024
€30,674
Gross operating margin
+€8,832
Staff costs
-€36,225
Depreciation
-€4,083
Other operating charges
+€2,014
Other operating items
-€480
Financial income
-€341
Financial charges
-€7,944
Taxes
-€395
Result 2025
-€7,947
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€168,548
Investment
-€51,485
Financing
-€119,779
Cash 2024
€11,029
From operations (derived)
+€168,548
Net result for the year
-€7,947
Depreciation
+€62,965
Stocks and contracts
+€79,434
Receivables within one year
-€13,528
Deferred charges and accrued income
+€409
Trade debts
-€7,142
Tax, wage and social debts
+€49,295
Other debts
+€2,208
Accrued charges and deferred income
+€2,856
Investment (derived)
-€51,485
Investment in fixed assets (net)
-€51,485
Financing
-€119,779
Debts after one year
-€36,875
Current portion of long-term debt
-€55,136
Short-term financial debts
-€27,768
Cash 2025
€8,313
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,213,621 | €2,133,112 | -€80,510 | -3.6% |
| Fixed assets | 21/28 | €1,170,831 | €1,159,352 | -€11,480 | -1.0% |
| Intangible fixed assets | 21 | €32,076 | €15,619 | -€16,457 | -51.3% |
| Tangible fixed assets | 22/27 | €1,134,899 | €1,139,876 | +€4,977 | +0.4% |
| Land and buildings | 22 | €1,105,584 | €1,127,690 | +€22,106 | +2.0% |
| Plant, machinery and equipment | 23 | €2,978 | €1,398 | -€1,580 | -53.1% |
| Furniture and vehicles | 24 | €25,857 | €10,788 | -€15,070 | -58.3% |
| Other tangible fixed assets | 26 | €480 | €0 | -€480 | -100% |
| Financial fixed assets | 28 | €3,857 | €3,857 | = | 0.0% |
| Current assets | 29/58 | €1,042,790 | €973,760 | -€69,030 | -6.6% |
| Stocks and contracts in progress | 3 | €1,026,141 | €946,708 | -€79,434 | -7.7% |
| Stocks | 30/36 | €1,026,141 | €946,708 | -€79,434 | -7.7% |
| Amounts receivable within one year | 40/41 | €3,479 | €17,008 | +€13,528 | +389% |
| Trade receivables | 40 | €0 | €586 | +€586 | |
| Other amounts receivable | 41 | €3,479 | €16,422 | +€12,942 | +372% |
| Cash at bank and in hand | 54/58 | €11,029 | €8,313 | -€2,716 | -24.6% |
| Deferred charges and accrued income | 490/1 | €2,140 | €1,731 | -€409 | -19.1% |
| Total equity and liabilities | 10/49 | €2,213,621 | €2,133,112 | -€80,510 | -3.6% |
| Equity | 10/15 | €557,374 | €549,427 | -€7,947 | -1.4% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €538,374 | €530,427 | -€7,947 | -1.5% |
| Distributable reserves | 133 | €538,374 | €530,427 | -€7,947 | -1.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,656,248 | €1,583,685 | -€72,563 | -4.4% |
| Amounts payable after more than one year | 17 | €1,017,334 | €980,459 | -€36,875 | -3.6% |
| Financial debts | 170/4 | €1,015,834 | €980,459 | -€35,375 | -3.5% |
| Trade debts | 175 | €1,500 | €0 | -€1,500 | -100% |
| Amounts payable within one year | 42/48 | €638,914 | €600,370 | -€38,544 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €120,563 | €65,427 | -€55,136 | -45.7% |
| Financial debts | 43 | €101,000 | €73,232 | -€27,768 | -27.5% |
| Credit institutions | 430/8 | €74,367 | €70,769 | -€3,597 | -4.8% |
| Other loans | 439 | €26,633 | €2,463 | -€24,171 | -90.8% |
| Trade debts | 44 | €147,019 | €139,877 | -€7,142 | -4.9% |
| Suppliers | 440/4 | €147,019 | €139,877 | -€7,142 | -4.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €116,430 | €165,725 | +€49,295 | +42.3% |
| Taxes | 450/3 | €107,390 | €156,041 | +€48,651 | +45.3% |
| Remuneration and social security | 454/9 | €9,040 | €9,683 | +€644 | +7.1% |
| Other amounts payable | 47/48 | €153,901 | €156,109 | +€2,208 | +1.4% |
| Accrued charges and deferred income | 492/3 | €0 | €2,856 | +€2,856 | |
| Remuneration, social security and pensions | 62 | €34,455 | €70,680 | +€36,225 | +105% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,882 | €62,965 | +€4,083 | +6.9% |
| Other operating charges | 640/8 | €13,755 | €11,742 | -€2,014 | -14.6% |
| Non-recurring operating charges | 66A | - | €480 | +€480 | |
| Gross operating margin | 9900 | €166,827 | €175,659 | +€8,832 | +5.3% |
| Operating profit (loss) | 9901 | €59,734 | €29,793 | -€29,941 | -50.1% |
| Financial income | 75/76B | €777 | €437 | -€341 | -43.8% |
| Recurring financial income | 75 | €777 | €437 | -€341 | -43.8% |
| Financial charges | 65/66B | €29,766 | €37,710 | +€7,944 | +26.7% |
| Recurring financial charges | 65 | €29,766 | €37,710 | +€7,944 | +26.7% |
| Profit (loss) for the period before taxes | 9903 | €30,745 | -€7,481 | -€38,226 | |
| Income taxes | 67/77 | €71 | €466 | +€395 | +553% |
| Profit (loss) for the period | 9904 | €30,674 | -€7,947 | -€38,620 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,674 | -€7,947 | -€38,620 |
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 23 October 2026 via checked.be.