BUSINESS MINDED: 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.
BUSINESS MINDED
Largest movements
- Receivables within one year -€14,302
down €14,302 (-19.6%), from €72,818 to €58,516
of which Trade receivables: -€9,479
- Cash +€12,576
up €12,576 (+3.5%), from €363,128 to €375,703
mainly Receivables within one year (+€14,302) and Trade debts (+€13)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€13,989
down €13,989, from €12,769 to -€1,221
- Financial income -€5,459
down €5,459 (-88.8%), from €6,147 to €689
- Taxes -€4,483
no longer reported in 2025 (was €4,483)
- Other operating charges -€2,137
down €2,137 (-77.6%), from €2,754 to €617
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.
Derived cash bridge
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 | €435,946 | €434,220 | -€1,726 | -0.4% |
| Current assets | 29/58 | €435,946 | €434,220 | -€1,726 | -0.4% |
| Amounts receivable within one year | 40/41 | €72,818 | €58,516 | -€14,302 | -19.6% |
| Trade receivables | 40 | €67,199 | €57,720 | -€9,479 | -14.1% |
| Other amounts receivable | 41 | €5,620 | €796 | -€4,823 | -85.8% |
| Cash at bank and in hand | 54/58 | €363,128 | €375,703 | +€12,576 | +3.5% |
| Total equity and liabilities | 10/49 | €435,946 | €434,220 | -€1,726 | -0.4% |
| Equity | 10/15 | €406,157 | €404,942 | -€1,215 | -0.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €386,157 | €386,157 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €384,157 | €384,157 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,215 | -€1,215 | |
| Amounts payable | 17/49 | €29,789 | €29,277 | -€512 | -1.7% |
| Amounts payable within one year | 42/48 | €29,789 | €29,277 | -€512 | -1.7% |
| Trade debts | 44 | €26,625 | €26,638 | +€13 | +0.1% |
| Suppliers | 440/4 | €26,625 | €26,638 | +€13 | +0.1% |
| Taxes, remuneration and social security | 45 | €3,164 | €2,639 | -€525 | -16.6% |
| Taxes | 450/3 | €3,164 | €2,639 | -€525 | -16.6% |
| Other operating charges | 640/8 | €2,754 | €617 | -€2,137 | -77.6% |
| Gross operating margin | 9900 | €12,769 | -€1,221 | -€13,989 | |
| Operating profit (loss) | 9901 | €10,015 | -€1,838 | -€11,853 | |
| Financial income | 75/76B | €6,147 | €689 | -€5,459 | -88.8% |
| Recurring financial income | 75 | €6,147 | €689 | -€5,459 | -88.8% |
| Financial charges | 65/66B | €158 | €65 | -€92 | -58.5% |
| Recurring financial charges | 65 | €158 | €65 | -€92 | -58.5% |
| Profit (loss) for the period before taxes | 9903 | €16,005 | -€1,215 | -€17,219 | |
| Income taxes | 67/77 | €4,483 | - | -€4,483 | |
| Profit (loss) for the period | 9904 | €11,521 | -€1,215 | -€12,736 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,521 | -€1,215 | -€12,736 |
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 1 November 2026 via checked.be.