Blackout: 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.
Blackout
Largest movements
- Receivables within one year -€13,433
down €13,433 (-98.2%), from €13,680 to €248
of which Other amounts receivable: -€12,494
- Cash -€2,403
down €2,403 (-23.1%), from €10,383 to €7,980
mainly Net result for the year (-€14,855) and Tax, wage and social debts (-€6,917)
- Tangible fixed assets -€759
down €759 (-29.0%), from €2,620 to €1,862
of which Furniture and vehicles: -€498
- Deferred charges and accrued income +€753
up €753 (+8,856%), from €9 to €761
- Reserves -€14,855
down €14,855 (-94.2%), from €15,775 to €920
- Tax, wage and social debts -€6,917
no longer reported in 2025 (was €6,917)
- Other debts +€4,397
new in 2025: €4,397
- Trade debts +€1,534
up €1,534, from €0 to €1,534
- Gross operating margin -€2,374
down €2,374 (-33.1%), from -€7,173 to -€9,548
- Financial charges +€577
up €577 (+14.5%), from €3,972 to €4,549
- Taxes -€226
no longer reported in 2025 (was €226)
- Depreciation -€96
down €96 (-11.2%), from €855 to €759
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 | €26,693 | €10,851 | -€15,842 | -59.3% |
| Fixed assets | 21/28 | €2,620 | €1,862 | -€759 | -29.0% |
| Tangible fixed assets | 22/27 | €2,620 | €1,862 | -€759 | -29.0% |
| Plant, machinery and equipment | 23 | €2,122 | €1,862 | -€261 | -12.3% |
| Furniture and vehicles | 24 | €498 | €0 | -€498 | -100% |
| Current assets | 29/58 | €24,072 | €8,989 | -€15,083 | -62.7% |
| Amounts receivable within one year | 40/41 | €13,680 | €248 | -€13,433 | -98.2% |
| Trade receivables | 40 | €939 | - | -€939 | |
| Other amounts receivable | 41 | €12,741 | €248 | -€12,494 | -98.1% |
| Cash at bank and in hand | 54/58 | €10,383 | €7,980 | -€2,403 | -23.1% |
| Deferred charges and accrued income | 490/1 | €9 | €761 | +€753 | +8,856% |
| Total equity and liabilities | 10/49 | €26,693 | €10,851 | -€15,842 | -59.3% |
| Equity | 10/15 | €19,775 | €4,920 | -€14,855 | -75.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €15,775 | €920 | -€14,855 | -94.2% |
| Distributable reserves | 133 | €15,775 | €920 | -€14,855 | -94.2% |
| Amounts payable | 17/49 | €6,917 | €5,931 | -€987 | -14.3% |
| Amounts payable within one year | 42/48 | €6,917 | €5,931 | -€987 | -14.3% |
| Trade debts | 44 | €0 | €1,534 | +€1,534 | |
| Suppliers | 440/4 | €0 | €1,534 | +€1,534 | |
| Taxes, remuneration and social security | 45 | €6,917 | - | -€6,917 | |
| Taxes | 450/3 | €6,917 | - | -€6,917 | |
| Other amounts payable | 47/48 | - | €4,397 | +€4,397 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €855 | €759 | -€96 | -11.2% |
| Gross operating margin | 9900 | -€7,173 | -€9,548 | -€2,374 | -33.1% |
| Operating profit (loss) | 9901 | -€8,028 | -€10,306 | -€2,278 | -28.4% |
| Financial charges | 65/66B | €3,972 | €4,549 | +€577 | +14.5% |
| Recurring financial charges | 65 | €3,972 | €4,549 | +€577 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | -€12,000 | -€14,855 | -€2,855 | -23.8% |
| Income taxes | 67/77 | €226 | - | -€226 | |
| Profit (loss) for the period | 9904 | -€12,226 | -€14,855 | -€2,629 | -21.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,226 | -€14,855 | -€2,629 | -21.5% |
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 15 October 2026 via checked.be.