BS CONCEPT: 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.
BS CONCEPT
Largest movements
- Stocks and contracts -€64,223
down €64,223 (-27.9%), from €229,869 to €165,647
- Cash +€18,024
up €18,024 (+54.7%), from €32,946 to €50,969
mainly Stocks and contracts (+€64,223) and Receivables within one year (+€14,367)
- Receivables within one year -€14,367
down €14,367 (-21.5%), from €66,867 to €52,500
of which Trade receivables: -€14,271
- Profit (loss) carried forward -€29,446
down €29,446 (-82.5%), from -€35,705 to -€65,151
- Trade debts -€14,695
down €14,695 (-22.4%), from €65,679 to €50,984
- Other debts -€8,125
down €8,125 (-3.1%), from €262,883 to €254,757
- Tax, wage and social debts -€4,230
down €4,230 (-15.4%), from €27,520 to €23,291
of which Taxes: -€4,230
- Gross operating margin +€7,638
up €7,638 (+3009.3%), from €254 to €7,892
- Other operating charges +€6,741
up €6,741 (+525.5%), from €1,283 to €8,024
- Depreciation +€3,297
up €3,297 (+90.7%), from €3,633 to €6,930
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 | €341,377 | €283,881 | -€57,496 | -16.8% |
| Fixed assets | 21/28 | €11,695 | €14,765 | +€3,070 | +26.3% |
| Tangible fixed assets | 22/27 | €6,695 | €9,765 | +€3,070 | +45.9% |
| Plant, machinery and equipment | 23 | €3,088 | €1,055 | -€2,033 | -65.8% |
| Furniture and vehicles | 24 | €3,608 | €8,711 | +€5,103 | +141.5% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €329,682 | €269,116 | -€60,566 | -18.4% |
| Stocks and contracts in progress | 3 | €229,869 | €165,647 | -€64,223 | -27.9% |
| Stocks | 30/36 | €229,869 | €165,647 | -€64,223 | -27.9% |
| Amounts receivable within one year | 40/41 | €66,867 | €52,500 | -€14,367 | -21.5% |
| Trade receivables | 40 | €66,771 | €52,500 | -€14,271 | -21.4% |
| Other amounts receivable | 41 | €96 | - | -€96 | |
| Cash at bank and in hand | 54/58 | €32,946 | €50,969 | +€18,024 | +54.7% |
| Total equity and liabilities | 10/49 | €341,377 | €283,881 | -€57,496 | -16.8% |
| Equity | 10/15 | -€15,705 | -€45,151 | -€29,446 | -187.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,705 | -€65,151 | -€29,446 | -82.5% |
| Amounts payable | 17/49 | €357,082 | €329,032 | -€28,050 | -7.9% |
| Amounts payable within one year | 42/48 | €357,082 | €329,032 | -€28,050 | -7.9% |
| Trade debts | 44 | €65,679 | €50,984 | -€14,695 | -22.4% |
| Suppliers | 440/4 | €65,679 | €50,984 | -€14,695 | -22.4% |
| Advances received on contracts in progress | 46 | €1,000 | - | -€1,000 | |
| Taxes, remuneration and social security | 45 | €27,520 | €23,291 | -€4,230 | -15.4% |
| Taxes | 450/3 | €20,408 | €16,178 | -€4,230 | -20.7% |
| Remuneration and social security | 454/9 | €7,113 | €7,113 | = | 0.0% |
| Other amounts payable | 47/48 | €262,883 | €254,757 | -€8,125 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,633 | €6,930 | +€3,297 | +90.7% |
| Other operating charges | 640/8 | €1,283 | €8,024 | +€6,741 | +525.5% |
| Non-recurring operating charges | 66A | - | €22,189 | +€22,189 | |
| Gross operating margin | 9900 | €254 | €7,892 | +€7,638 | +3009.3% |
| Operating profit (loss) | 9901 | -€4,662 | -€29,251 | -€24,589 | -527.4% |
| Financial charges | 65/66B | €209 | €195 | -€14 | -6.8% |
| Recurring financial charges | 65 | €209 | €195 | -€14 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,872 | -€29,446 | -€24,575 | -504.4% |
| Profit (loss) for the period | 9904 | -€4,872 | -€29,446 | -€24,575 | -504.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,872 | -€29,446 | -€24,575 | -504.4% |
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 8 October 2026 via checked.be.