But Beautiful: 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.
But Beautiful
Largest movements
- Receivables within one year +€5,629
up €5,629 (+70.2%), from €8,019 to €13,648
of which Other amounts receivable: +€9,063
- Cash -€1,511
down €1,511 (-98.6%), from €1,532 to €21
mainly Receivables within one year (-€5,629) and Trade debts (-€93)
- Stocks and contracts -€780
down €780 (-29.7%), from €2,626 to €1,846
- Short-term financial debts +€2,503
new in 2025: €2,503
- Profit (loss) carried forward +€878
up €878 (+11.1%), from -€7,902 to -€7,024
- Gross operating margin +€2,307
up €2,307, from -€518 to €1,789
- Financial income +€334
up €334 (+504%), from €66 to €400
- Other operating charges -€232
down €232 (-18.6%), from €1,250 to €1,018
- Financial charges -€18
down €18 (-7.6%), from €239 to €220
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 | €12,495 | €15,699 | +€3,204 | +25.6% |
| Fixed assets | 21/28 | €261 | €184 | -€77 | -29.6% |
| Tangible fixed assets | 22/27 | €261 | €184 | -€77 | -29.6% |
| Plant, machinery and equipment | 23 | €261 | €184 | -€77 | -29.6% |
| Current assets | 29/58 | €12,234 | €15,515 | +€3,281 | +26.8% |
| Stocks and contracts in progress | 3 | €2,626 | €1,846 | -€780 | -29.7% |
| Stocks | 30/36 | €2,626 | €1,846 | -€780 | -29.7% |
| Amounts receivable within one year | 40/41 | €8,019 | €13,648 | +€5,629 | +70.2% |
| Trade receivables | 40 | €6,848 | €3,414 | -€3,434 | -50.1% |
| Other amounts receivable | 41 | €1,171 | €10,234 | +€9,063 | +774% |
| Cash at bank and in hand | 54/58 | €1,532 | €21 | -€1,511 | -98.6% |
| Deferred charges and accrued income | 490/1 | €57 | - | -€57 | |
| Total equity and liabilities | 10/49 | €12,495 | €15,699 | +€3,204 | +25.6% |
| Equity | 10/15 | €10,698 | €11,576 | +€878 | +8.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,902 | -€7,024 | +€878 | +11.1% |
| Amounts payable | 17/49 | €1,797 | €4,123 | +€2,325 | +129% |
| Amounts payable within one year | 42/48 | €1,741 | €4,101 | +€2,360 | +136% |
| Financial debts | 43 | - | €2,503 | +€2,503 | |
| Credit institutions | 430/8 | - | €2,503 | +€2,503 | |
| Trade debts | 44 | €1,492 | €1,400 | -€93 | -6.2% |
| Suppliers | 440/4 | €1,492 | €1,400 | -€93 | -6.2% |
| Taxes, remuneration and social security | 45 | €248 | €199 | -€49 | -19.9% |
| Taxes | 450/3 | €248 | €199 | -€49 | -19.9% |
| Accrued charges and deferred income | 492/3 | €57 | €21 | -€35 | -62.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77 | €77 | = | 0.0% |
| Other operating charges | 640/8 | €1,250 | €1,018 | -€232 | -18.6% |
| Gross operating margin | 9900 | -€518 | €1,789 | +€2,307 | |
| Operating profit (loss) | 9901 | -€1,845 | €694 | +€2,539 | |
| Financial income | 75/76B | €66 | €400 | +€334 | +504% |
| Recurring financial income | 75 | €66 | €400 | +€334 | +504% |
| Financial charges | 65/66B | €239 | €220 | -€18 | -7.6% |
| Recurring financial charges | 65 | €239 | €220 | -€18 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,018 | €874 | +€2,891 | |
| Income taxes | 67/77 | €4 | -€4 | -€9 | |
| Profit (loss) for the period | 9904 | -€2,022 | €878 | +€2,900 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,022 | €878 | +€2,900 |
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.