BY DEWEZ: 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.
BY DEWEZ
Largest movements
- Tangible fixed assets -€70,722
down €70,722 (-39.5%), from €179,242 to €108,520
of which Other tangible fixed assets: -€42,375
- Receivables within one year -€28,085
down €28,085 (-99.9%), from €28,119 to €34
- Cash -€26,083
down €26,083 (-28.7%), from €90,772 to €64,689
mainly Net result for the year (-€57,728) and Debts after one year (-€50,398)
- Profit (loss) carried forward -€57,728
down €57,728 (-71.8%), from -€80,436 to -€138,164
- Debts after one year -€50,398
down €50,398 (-66.0%), from €76,383 to €25,985
- Tax, wage and social debts -€17,913
down €17,913 (-20.4%), from €87,958 to €70,045
of which Taxes: -€18,801
- Trade debts -€6,198
down €6,198 (-14.9%), from €41,700 to €35,502
- Current portion of long-term debt +€5,115
up €5,115 (+10.1%), from €50,557 to €55,672
- Gross operating margin -€7,981
down €7,981 (-1.2%), from €646,117 to €638,136
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 | €359,388 | €231,979 | -€127,409 | -35.5% |
| Fixed assets | 21/28 | €220,191 | €146,545 | -€73,647 | -33.4% |
| Intangible fixed assets | 21 | €40,949 | €38,024 | -€2,925 | -7.1% |
| Tangible fixed assets | 22/27 | €179,242 | €108,520 | -€70,722 | -39.5% |
| Furniture and vehicles | 24 | €80,636 | €52,289 | -€28,347 | -35.2% |
| Other tangible fixed assets | 26 | €98,606 | €56,232 | -€42,375 | -43.0% |
| Current assets | 29/58 | €139,197 | €85,434 | -€53,762 | -38.6% |
| Stocks and contracts in progress | 3 | €20,306 | €20,712 | +€406 | +2.0% |
| Stocks | 30/36 | €20,306 | €20,712 | +€406 | +2.0% |
| Amounts receivable within one year | 40/41 | €28,119 | €34 | -€28,085 | -99.9% |
| Trade receivables | 40 | €28,119 | €34 | -€28,085 | -99.9% |
| Cash at bank and in hand | 54/58 | €90,772 | €64,689 | -€26,083 | -28.7% |
| Total equity and liabilities | 10/49 | €359,388 | €231,979 | -€127,409 | -35.5% |
| Equity | 10/15 | €74,318 | €16,590 | -€57,728 | -77.7% |
| Contributions | 10/11 | €154,754 | €154,754 | = | 0.0% |
| Capital | 10 | €154,754 | €154,754 | = | 0.0% |
| Issued capital | 100 | €154,754 | €154,754 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,436 | -€138,164 | -€57,728 | -71.8% |
| Amounts payable | 17/49 | €285,070 | €215,389 | -€69,681 | -24.4% |
| Amounts payable after more than one year | 17 | €76,383 | €25,985 | -€50,398 | -66.0% |
| Financial debts | 170/4 | €76,383 | €25,985 | -€50,398 | -66.0% |
| Amounts payable within one year | 42/48 | €208,686 | €189,404 | -€19,283 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €50,557 | €55,672 | +€5,115 | +10.1% |
| Trade debts | 44 | €41,700 | €35,502 | -€6,198 | -14.9% |
| Suppliers | 440/4 | €41,700 | €35,502 | -€6,198 | -14.9% |
| Taxes, remuneration and social security | 45 | €87,958 | €70,045 | -€17,913 | -20.4% |
| Taxes | 450/3 | €63,245 | €44,444 | -€18,801 | -29.7% |
| Remuneration and social security | 454/9 | €24,714 | €25,601 | +€888 | +3.6% |
| Other amounts payable | 47/48 | €28,471 | €28,184 | -€287 | -1.0% |
| Remuneration, social security and pensions | 62 | €569,854 | €575,575 | +€5,721 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,411 | €89,483 | -€1,929 | -2.1% |
| Other operating charges | 640/8 | €6,450 | €3,518 | -€2,933 | -45.5% |
| Non-recurring operating charges | 66A | - | €15,000 | +€15,000 | |
| Gross operating margin | 9900 | €646,117 | €638,136 | -€7,981 | -1.2% |
| Operating profit (loss) | 9901 | -€21,599 | -€45,439 | -€23,840 | -110% |
| Financial income | 75/76B | €72 | €5,706 | +€5,634 | +7,839% |
| Recurring financial income | 75 | €72 | €5,706 | +€5,634 | +7,839% |
| Financial charges | 65/66B | €20,108 | €17,995 | -€2,113 | -10.5% |
| Recurring financial charges | 65 | €20,108 | €17,995 | -€2,113 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | -€41,634 | -€57,728 | -€16,093 | -38.7% |
| Profit (loss) for the period | 9904 | -€41,634 | -€57,728 | -€16,093 | -38.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,634 | -€57,728 | -€16,093 | -38.7% |
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 29 October 2026 via checked.be.