BUT NOT ONLY: 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 NOT ONLY
Largest movements
- Receivables within one year -€21,082
down €21,082 (-48.5%), from €43,462 to €22,380
of which Trade receivables: -€21,082
- Cash -€14,835
down €14,835 (-51.4%), from €28,847 to €14,012
mainly Net result for the year (-€22,113) and Trade debts (-€19,241)
- Stocks and contracts -€4,330
down €4,330 (-45.1%), from €9,607 to €5,277
- Tangible fixed assets -€1,165
down €1,165 (-55.6%), from €2,097 to €931
of which Furniture and vehicles: -€625
- Profit (loss) carried forward -€22,113
down €22,113, from €5,237 to -€16,876
- Trade debts -€19,241
no longer reported in 2025 (was €19,241)
- Other debts +€7,950
up €7,950 (+119%), from €6,653 to €14,603
- Tax, wage and social debts -€7,808
down €7,808 (-58.7%), from €13,311 to €5,503
of which Taxes: -€4,868
- Gross operating margin -€20,526
down €20,526, from €295 to -€20,232
- Other operating charges -€3,872
no longer reported in 2025 (was €3,872)
- Financial charges -€392
down €392 (-35.0%), from €1,120 to €727
- Depreciation +€259
up €259 (+28.6%), from €906 to €1,165
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 | €84,012 | €42,600 | -€41,412 | -49.3% |
| Fixed assets | 21/28 | €2,097 | €931 | -€1,165 | -55.6% |
| Tangible fixed assets | 22/27 | €2,097 | €931 | -€1,165 | -55.6% |
| Furniture and vehicles | 24 | €1,416 | €791 | -€625 | -44.1% |
| Other tangible fixed assets | 26 | €681 | €141 | -€540 | -79.3% |
| Current assets | 29/58 | €81,915 | €41,669 | -€40,247 | -49.1% |
| Stocks and contracts in progress | 3 | €9,607 | €5,277 | -€4,330 | -45.1% |
| Stocks | 30/36 | €9,607 | €5,277 | -€4,330 | -45.1% |
| Amounts receivable within one year | 40/41 | €43,462 | €22,380 | -€21,082 | -48.5% |
| Trade receivables | 40 | €33,462 | €12,380 | -€21,082 | -63.0% |
| Other amounts receivable | 41 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €28,847 | €14,012 | -€14,835 | -51.4% |
| Total equity and liabilities | 10/49 | €84,012 | €42,600 | -€41,412 | -49.3% |
| Equity | 10/15 | €43,237 | €21,124 | -€22,113 | -51.1% |
| Contributions | 10/11 | €38,000 | €38,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,237 | -€16,876 | -€22,113 | |
| Amounts payable | 17/49 | €40,775 | €21,477 | -€19,298 | -47.3% |
| Amounts payable within one year | 42/48 | €39,205 | €20,106 | -€19,098 | -48.7% |
| Trade debts | 44 | €19,241 | - | -€19,241 | |
| Suppliers | 440/4 | €19,241 | €0 | -€19,241 | -100% |
| Taxes, remuneration and social security | 45 | €13,311 | €5,503 | -€7,808 | -58.7% |
| Taxes | 450/3 | €10,371 | €5,503 | -€4,868 | -46.9% |
| Remuneration and social security | 454/9 | €2,940 | - | -€2,940 | |
| Other amounts payable | 47/48 | €6,653 | €14,603 | +€7,950 | +119% |
| Accrued charges and deferred income | 492/3 | €1,570 | €1,370 | -€200 | -12.7% |
| Non-recurring operating income | 76A | €25 | - | -€25 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €906 | €1,165 | +€259 | +28.6% |
| Other operating charges | 640/8 | €3,872 | - | -€3,872 | |
| Non-recurring operating charges | 66A | €491 | - | -€491 | |
| Gross operating margin | 9900 | €295 | -€20,232 | -€20,526 | |
| Operating profit (loss) | 9901 | -€4,974 | -€21,397 | -€16,423 | -330% |
| Financial income | 75/76B | - | €11 | +€11 | |
| Recurring financial income | 75 | - | €11 | +€11 | |
| Financial charges | 65/66B | €1,120 | €727 | -€392 | -35.0% |
| Recurring financial charges | 65 | €1,120 | €727 | -€392 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,094 | -€22,113 | -€16,020 | -263% |
| Profit (loss) for the period | 9904 | -€6,094 | -€22,113 | -€16,020 | -263% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,094 | -€22,113 | -€16,020 | -263% |
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 30 October 2026 via checked.be.