BUSINESS & CHANGE: what changed
BUSINESS & CHANGE
Largest movements
- Current investments -€83,245
down €83,245 (-100%), from €83,245 to €0
- Tangible fixed assets -€3,515
down €3,515 (-52.4%), from €6,706 to €3,192
of which Other tangible fixed assets: -€3,136
- Profit (loss) carried forward -€53,745
down €53,745 (-100%), from €53,745 to €0
- Reserves -€32,739
down €32,739 (-34.3%), from €95,366 to €62,627
- Write-downs +€83,245
new in 2025: €83,245
- Gross operating margin -€2,286
down €2,286, from €2,282 to -€5
- Financial income +€192
up €192 (+84.5%), from €227 to €420
- Depreciation -€170
down €170 (-4.6%), from €3,685 to €3,515
- Financial charges +€110
up €110 (+370%), from €30 to €140
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €157,171 | €70,687 | -€86,484 | -55.0% |
| Fixed assets | 21/28 | €6,706 | €3,192 | -€3,515 | -52.4% |
| Tangible fixed assets | 22/27 | €6,706 | €3,192 | -€3,515 | -52.4% |
| Furniture and vehicles | 24 | €1,135 | €757 | -€378 | -33.3% |
| Other tangible fixed assets | 26 | €5,571 | €2,435 | -€3,136 | -56.3% |
| Current assets | 29/58 | €150,465 | €67,496 | -€82,970 | -55.1% |
| Amounts receivable after more than one year | 29 | €52,566 | €53,328 | +€762 | +1.5% |
| Other amounts receivable | 291 | €52,566 | €53,328 | +€762 | +1.5% |
| Amounts receivable within one year | 40/41 | €13,423 | €13,930 | +€507 | +3.8% |
| Other amounts receivable | 41 | €13,423 | €13,930 | +€507 | +3.8% |
| Current investments | 50/53 | €83,245 | €0 | -€83,245 | -100% |
| Cash at bank and in hand | 54/58 | €1,231 | €237 | -€994 | -80.7% |
| Total equity and liabilities | 10/49 | €157,171 | €70,687 | -€86,484 | -55.0% |
| Equity | 10/15 | €157,171 | €70,687 | -€86,484 | -55.0% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €95,366 | €62,627 | -€32,739 | -34.3% |
| Distributable reserves | 133 | €95,366 | €62,627 | -€32,739 | -34.3% |
| Profit (loss) carried forward | 14 | €53,745 | €0 | -€53,745 | -100% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,685 | €3,515 | -€170 | -4.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €83,245 | +€83,245 | |
| Gross operating margin | 9900 | €2,282 | -€5 | -€2,286 | |
| Operating profit (loss) | 9901 | -€1,403 | -€86,764 | -€85,361 | -6,084% |
| Financial income | 75/76B | €227 | €420 | +€192 | +84.5% |
| Recurring financial income | 75 | €227 | €420 | +€192 | +84.5% |
| Financial charges | 65/66B | €30 | €140 | +€110 | +370% |
| Recurring financial charges | 65 | €30 | €140 | +€110 | +370% |
| Profit (loss) for the period before taxes | 9903 | -€1,205 | -€86,484 | -€85,279 | -7,075% |
| Profit (loss) for the period | 9904 | -€1,205 | -€86,484 | -€85,279 | -7,075% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,205 | -€86,484 | -€85,279 | -7,075% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.