Business and Code: 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.
Business and Code
Largest movements
- Receivables within one year +€5,873
up €5,873 (+49.0%), from €11,993 to €17,865
of which Trade receivables: +€3,801
- Cash -€5,097
down €5,097 (-20.7%), from €24,641 to €19,544
mainly Other debts (-€14,112) and Receivables within one year (-€5,873)
- Intangible fixed assets -€2,000
down €2,000 (-37.5%), from €5,333 to €3,333
- Deferred charges and accrued income -€761
down €761 (-34.7%), from €2,196 to €1,434
- Tangible fixed assets -€552
down €552 (-63.0%), from €876 to €324
of which Plant, machinery and equipment: -€354
- Other debts -€14,112
down €14,112 (-78.4%), from €18,000 to €3,888
- Reserves +€9,830
up €9,830 (+528.5%), from €1,860 to €11,690
of which Distributable reserves: +€9,830
- Tax, wage and social debts +€2,125
up €2,125 (+38.2%), from €5,562 to €7,687
of which Remuneration and social security: +€1,964
- Gross operating margin -€4,911
down €4,911 (-23.4%), from €20,957 to €16,046
- Taxes -€1,090
down €1,090 (-27.7%), from €3,941 to €2,851
- Other operating charges +€302
up €302 (+81.2%), from €372 to €674
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 | €45,040 | €42,502 | -€2,538 | -5.6% |
| Fixed assets | 21/28 | €6,210 | €3,658 | -€2,552 | -41.1% |
| Intangible fixed assets | 21 | €5,333 | €3,333 | -€2,000 | -37.5% |
| Tangible fixed assets | 22/27 | €876 | €324 | -€552 | -63.0% |
| Plant, machinery and equipment | 23 | €678 | €324 | -€354 | -52.2% |
| Furniture and vehicles | 24 | €198 | - | -€198 | |
| Current assets | 29/58 | €38,830 | €38,844 | +€14 | 0.0% |
| Amounts receivable within one year | 40/41 | €11,993 | €17,865 | +€5,873 | +49.0% |
| Trade receivables | 40 | €10,916 | €14,717 | +€3,801 | +34.8% |
| Other amounts receivable | 41 | €1,077 | €3,149 | +€2,072 | +192.5% |
| Cash at bank and in hand | 54/58 | €24,641 | €19,544 | -€5,097 | -20.7% |
| Deferred charges and accrued income | 490/1 | €2,196 | €1,434 | -€761 | -34.7% |
| Total equity and liabilities | 10/49 | €45,040 | €42,502 | -€2,538 | -5.6% |
| Equity | 10/15 | €20,460 | €30,290 | +€9,830 | +48.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €11,690 | +€9,830 | +528.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €9,830 | +€9,830 | |
| Amounts payable | 17/49 | €24,580 | €12,212 | -€12,368 | -50.3% |
| Amounts payable within one year | 42/48 | €24,580 | €12,212 | -€12,368 | -50.3% |
| Trade debts | 44 | €1,017 | €636 | -€381 | -37.4% |
| Suppliers | 440/4 | €1,017 | €636 | -€381 | -37.4% |
| Taxes, remuneration and social security | 45 | €5,562 | €7,687 | +€2,125 | +38.2% |
| Taxes | 450/3 | €5,562 | €5,724 | +€161 | +2.9% |
| Remuneration and social security | 454/9 | - | €1,964 | +€1,964 | |
| Other amounts payable | 47/48 | €18,000 | €3,888 | -€14,112 | -78.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,750 | €2,552 | -€198 | -7.2% |
| Other operating charges | 640/8 | €372 | €674 | +€302 | +81.2% |
| Gross operating margin | 9900 | €20,957 | €16,046 | -€4,911 | -23.4% |
| Operating profit (loss) | 9901 | €17,835 | €12,820 | -€5,014 | -28.1% |
| Financial income | 75/76B | €7 | €5 | -€2 | -22.4% |
| Recurring financial income | 75 | €7 | €5 | -€2 | -22.4% |
| Financial charges | 65/66B | €11 | €144 | +€132 | +1162.8% |
| Recurring financial charges | 65 | €11 | €144 | +€132 | +1162.8% |
| Profit (loss) for the period before taxes | 9903 | €17,830 | €12,682 | -€5,148 | -28.9% |
| Income taxes | 67/77 | €3,941 | €2,851 | -€1,090 | -27.7% |
| Profit (loss) for the period | 9904 | €13,889 | €9,830 | -€4,059 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,889 | €9,830 | -€4,059 | -29.2% |
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 4 October 2026 via checked.be.