BUSINESS TRANSITION: 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 TRANSITION
Largest movements
- Cash +€94,906
up €94,906 (+780%), from €12,168 to €107,074
mainly Receivables within one year (+€93,863) and Other debts (+€20,498)
- Receivables within one year -€93,863
down €93,863 (-75.2%), from €124,813 to €30,950
of which Trade receivables: -€97,297
- Tangible fixed assets -€7,186
down €7,186 (-16.1%), from €44,594 to €37,408
of which Furniture and vehicles: -€6,817
- Profit (loss) carried forward -€31,793
down €31,793 (-27.3%), from €116,310 to €84,517
- Other debts +€20,498
up €20,498 (+68.2%), from €30,050 to €50,548
- Tax, wage and social debts +€5,152
up €5,152 (+25.5%), from €20,215 to €25,367
- Gross operating margin -€84,017
down €84,017 (-65.6%), from €128,011 to €43,994
- Taxes -€12,073
down €12,073 (-47.0%), from €25,700 to €13,627
- Depreciation +€2,112
up €2,112 (+22.6%), from €9,330 to €11,442
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 | €181,575 | €175,432 | -€6,143 | -3.4% |
| Fixed assets | 21/28 | €44,594 | €37,408 | -€7,186 | -16.1% |
| Tangible fixed assets | 22/27 | €44,594 | €37,408 | -€7,186 | -16.1% |
| Plant, machinery and equipment | 23 | €1,548 | €1,179 | -€369 | -23.8% |
| Furniture and vehicles | 24 | €43,046 | €36,229 | -€6,817 | -15.8% |
| Current assets | 29/58 | €136,981 | €138,024 | +€1,043 | +0.8% |
| Amounts receivable within one year | 40/41 | €124,813 | €30,950 | -€93,863 | -75.2% |
| Trade receivables | 40 | €124,608 | €27,311 | -€97,297 | -78.1% |
| Other amounts receivable | 41 | €205 | €3,639 | +€3,434 | +1,675% |
| Cash at bank and in hand | 54/58 | €12,168 | €107,074 | +€94,906 | +780% |
| Total equity and liabilities | 10/49 | €181,575 | €175,432 | -€6,143 | -3.4% |
| Equity | 10/15 | €131,310 | €99,517 | -€31,793 | -24.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,310 | €84,517 | -€31,793 | -27.3% |
| Amounts payable | 17/49 | €50,265 | €75,915 | +€25,650 | +51.0% |
| Amounts payable within one year | 42/48 | €50,265 | €75,915 | +€25,650 | +51.0% |
| Taxes, remuneration and social security | 45 | €20,215 | €25,367 | +€5,152 | +25.5% |
| Taxes | 450/3 | €20,215 | €25,367 | +€5,152 | +25.5% |
| Other amounts payable | 47/48 | €30,050 | €50,548 | +€20,498 | +68.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,330 | €11,442 | +€2,112 | +22.6% |
| Other operating charges | 640/8 | €546 | €601 | +€55 | +10.1% |
| Gross operating margin | 9900 | €128,011 | €43,994 | -€84,017 | -65.6% |
| Operating profit (loss) | 9901 | €118,135 | €31,951 | -€86,184 | -73.0% |
| Financial charges | 65/66B | €178 | €117 | -€61 | -34.3% |
| Recurring financial charges | 65 | €178 | €117 | -€61 | -34.3% |
| Profit (loss) for the period before taxes | 9903 | €117,957 | €31,834 | -€86,123 | -73.0% |
| Income taxes | 67/77 | €25,700 | €13,627 | -€12,073 | -47.0% |
| Profit (loss) for the period | 9904 | €92,257 | €18,207 | -€74,050 | -80.3% |
| Profit (loss) for the period to be appropriated | 9905 | €92,257 | €18,207 | -€74,050 | -80.3% |
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 31 October 2026 via checked.be.