BSM: 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.
BSM
Largest movements
- Cash -€5,462
down €5,462 (-97.8%), from €5,586 to €124
mainly Net result for the year (-€62,918) and Receivables within one year (-€1,316)
- Receivables within one year +€1,316
up €1,316 (+2.7%), from €48,281 to €49,597
of which Trade receivables: +€923
- Profit (loss) carried forward -€62,918
down €62,918 (-98.9%), from -€63,632 to -€126,550
- Other debts +€50,047
up €50,047 (+61.6%), from €81,274 to €131,321
- Tax, wage and social debts +€4,197
up €4,197 (+19.0%), from €22,104 to €26,301
of which Remuneration and social security: +€6,412
- Trade debts +€4,183
up €4,183 (+121.1%), from €3,454 to €7,637
- Staff costs +€9,979
up €9,979 (+9.7%), from €102,390 to €112,369
- Gross operating margin -€2,557
down €2,557 (-4.9%), from €52,451 to €49,893
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 | €55,601 | €51,109 | -€4,492 | -8.1% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €55,601 | €51,109 | -€4,492 | -8.1% |
| Amounts receivable within one year | 40/41 | €48,281 | €49,597 | +€1,316 | +2.7% |
| Trade receivables | 40 | €46,178 | €47,100 | +€923 | +2.0% |
| Other amounts receivable | 41 | €2,104 | €2,497 | +€394 | +18.7% |
| Cash at bank and in hand | 54/58 | €5,586 | €124 | -€5,462 | -97.8% |
| Deferred charges and accrued income | 490/1 | €1,734 | €1,388 | -€346 | -20.0% |
| Total equity and liabilities | 10/49 | €55,601 | €51,109 | -€4,492 | -8.1% |
| Equity | 10/15 | -€51,232 | -€114,150 | -€62,918 | -122.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,632 | -€126,550 | -€62,918 | -98.9% |
| Amounts payable | 17/49 | €106,832 | €165,259 | +€58,427 | +54.7% |
| Amounts payable within one year | 42/48 | €106,832 | €165,259 | +€58,427 | +54.7% |
| Trade debts | 44 | €3,454 | €7,637 | +€4,183 | +121.1% |
| Suppliers | 440/4 | €3,454 | €7,637 | +€4,183 | +121.1% |
| Taxes, remuneration and social security | 45 | €22,104 | €26,301 | +€4,197 | +19.0% |
| Taxes | 450/3 | €2,215 | €0 | -€2,215 | -100.0% |
| Remuneration and social security | 454/9 | €19,889 | €26,301 | +€6,412 | +32.2% |
| Other amounts payable | 47/48 | €81,274 | €131,321 | +€50,047 | +61.6% |
| Non-recurring operating income | 76A | - | €7,217 | +€7,217 | |
| Remuneration, social security and pensions | 62 | €102,390 | €112,369 | +€9,979 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287 | €0 | -€287 | -100.0% |
| Other operating charges | 640/8 | €505 | €157 | -€348 | -68.8% |
| Gross operating margin | 9900 | €52,451 | €49,893 | -€2,557 | -4.9% |
| Operating profit (loss) | 9901 | -€50,731 | -€62,633 | -€11,902 | -23.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €518 | €285 | -€233 | -44.9% |
| Recurring financial charges | 65 | €518 | €285 | -€233 | -44.9% |
| Profit (loss) for the period before taxes | 9903 | -€51,249 | -€62,918 | -€11,669 | -22.8% |
| Profit (loss) for the period | 9904 | -€51,249 | -€62,918 | -€11,669 | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,249 | -€62,918 | -€11,669 | -22.8% |
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 12 October 2026 via checked.be.