blackslash: what changed
Two fiscal 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.
blackslash
Largest movements
- Tangible fixed assets -€6,686
down €6,686 (-20.0%), from €33,381 to €26,695
of which Furniture and vehicles: -€5,842
- Cash -€4,720
down €4,720 (-13.9%), from €33,911 to €29,191
mainly Contributions, distributions and other (-€46,500) and Receivables within one year (-€3,669)
- Receivables within one year +€3,669
up €3,669 (+37.4%), from €9,798 to €13,467
of which Trade receivables: +€4,709
- Deferred charges and accrued income -€2,965
down €2,965 (-64.0%), from €4,629 to €1,665
- Reserves -€19,047
down €19,047 (-99.2%), from €19,201 to €154
- Other debts +€11,500
up €11,500 (+28.8%), from €39,988 to €51,488
- Current portion of long-term debt -€2,322
no longer reported in 2025 (was €2,322)
- Short-term financial debts -€846
no longer reported in 2025 (was €846)
- Gross operating margin -€3,949
down €3,949 (-7.8%), from €50,312 to €46,363
- Depreciation +€1,040
up €1,040 (+15.1%), from €6,908 to €7,948
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 | €83,141 | €72,440 | -€10,701 | -12.9% |
| Fixed assets | 21/28 | €33,381 | €26,695 | -€6,686 | -20.0% |
| Tangible fixed assets | 22/27 | €33,381 | €26,695 | -€6,686 | -20.0% |
| Land and buildings | 22 | €15,041 | €14,557 | -€484 | -3.2% |
| Furniture and vehicles | 24 | €17,776 | €11,934 | -€5,842 | -32.9% |
| Other tangible fixed assets | 26 | €564 | €204 | -€360 | -63.9% |
| Current assets | 29/58 | €49,760 | €45,745 | -€4,015 | -8.1% |
| Stocks and contracts in progress | 3 | €1,421 | €1,421 | = | 0.0% |
| Stocks | 30/36 | €1,421 | €1,421 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,798 | €13,467 | +€3,669 | +37.4% |
| Trade receivables | 40 | €8,258 | €12,967 | +€4,709 | +57.0% |
| Other amounts receivable | 41 | €1,540 | €500 | -€1,040 | -67.5% |
| Cash at bank and in hand | 54/58 | €33,911 | €29,191 | -€4,720 | -13.9% |
| Deferred charges and accrued income | 490/1 | €4,629 | €1,665 | -€2,965 | -64.0% |
| Total equity and liabilities | 10/49 | €83,141 | €72,440 | -€10,701 | -12.9% |
| Equity | 10/15 | €37,801 | €18,754 | -€19,047 | -50.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,201 | €154 | -€19,047 | -99.2% |
| Distributable reserves | 133 | €19,201 | €154 | -€19,047 | -99.2% |
| Amounts payable | 17/49 | €45,340 | €53,686 | +€8,346 | +18.4% |
| Amounts payable within one year | 42/48 | €45,340 | €53,682 | +€8,342 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €2,322 | - | -€2,322 | |
| Financial debts | 43 | €846 | - | -€846 | |
| Credit institutions | 430/8 | €846 | - | -€846 | |
| Trade debts | 44 | €425 | €657 | +€232 | +54.5% |
| Suppliers | 440/4 | €425 | €657 | +€232 | +54.5% |
| Taxes, remuneration and social security | 45 | €1,759 | €1,537 | -€222 | -12.6% |
| Taxes | 450/3 | €1,759 | €1,537 | -€222 | -12.6% |
| Other amounts payable | 47/48 | €39,988 | €51,488 | +€11,500 | +28.8% |
| Accrued charges and deferred income | 492/3 | - | €4 | +€4 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,908 | €7,948 | +€1,040 | +15.1% |
| Other operating charges | 640/8 | €1,388 | €1,185 | -€204 | -14.7% |
| Gross operating margin | 9900 | €50,312 | €46,363 | -€3,949 | -7.8% |
| Operating profit (loss) | 9901 | €42,016 | €37,231 | -€4,786 | -11.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €391 | €279 | -€112 | -28.6% |
| Recurring financial charges | 65 | €391 | €279 | -€112 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €41,625 | €36,952 | -€4,674 | -11.2% |
| Income taxes | 67/77 | €9,709 | €9,499 | -€210 | -2.2% |
| Profit (loss) for the period | 9904 | €31,916 | €27,453 | -€4,464 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,916 | €27,453 | -€4,464 | -14.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.