BUT THINES: 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 THINES
Largest movements
- Cash -€8,374
down €8,374 (-92.2%), from €9,078 to €704
mainly Net result for the year (-€20,852) and Tax, wage and social debts (-€387)
- Profit (loss) carried forward -€20,852
down €20,852 (-31.0%), from -€67,351 to -€88,203
- Debts after one year +€12,829
up €12,829 (+5.3%), from €240,551 to €253,380
- Gross operating margin +€3,784
up €3,784 (+28.0%), from -€13,520 to -€9,737
- Financial charges -€1,125
down €1,125 (-9.2%), from €12,160 to €11,035
- Other operating charges -€896
down €896 (-91.8%), from €976 to €80
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €275,353 | €266,979 | -€8,374 | -3.0% |
| Current assets | 29/58 | €275,353 | €266,979 | -€8,374 | -3.0% |
| Stocks and contracts in progress | 3 | €266,275 | €266,275 | = | 0.0% |
| Stocks | 30/36 | €266,275 | €266,275 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,078 | €704 | -€8,374 | -92.2% |
| Total equity and liabilities | 10/49 | €275,353 | €266,979 | -€8,374 | -3.0% |
| Equity | 10/15 | €32,649 | €11,797 | -€20,852 | -63.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,351 | -€88,203 | -€20,852 | -31.0% |
| Amounts payable | 17/49 | €242,704 | €255,182 | +€12,478 | +5.1% |
| Amounts payable after more than one year | 17 | €240,551 | €253,380 | +€12,829 | +5.3% |
| Financial debts | 170/4 | €240,551 | €253,380 | +€12,829 | +5.3% |
| Amounts payable within one year | 42/48 | €2,153 | €1,803 | -€351 | -16.3% |
| Trade debts | 44 | €1,766 | €1,803 | +€37 | +2.1% |
| Suppliers | 440/4 | €1,766 | €1,803 | +€37 | +2.1% |
| Taxes, remuneration and social security | 45 | €387 | - | -€387 | |
| Taxes | 450/3 | €387 | - | -€387 | |
| Other operating charges | 640/8 | €976 | €80 | -€896 | -91.8% |
| Gross operating margin | 9900 | -€13,520 | -€9,737 | +€3,784 | +28.0% |
| Operating profit (loss) | 9901 | -€14,496 | -€9,817 | +€4,679 | +32.3% |
| Financial charges | 65/66B | €12,160 | €11,035 | -€1,125 | -9.2% |
| Recurring financial charges | 65 | €12,160 | €11,035 | -€1,125 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | -€26,656 | -€20,852 | +€5,804 | +21.8% |
| Profit (loss) for the period | 9904 | -€26,656 | -€20,852 | +€5,804 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,656 | -€20,852 | +€5,804 | +21.8% |
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 17 October 2026 via checked.be.