By Michèle: 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 Michèle
Largest movements
- Stocks and contracts +€7,123
up €7,123 (+54.7%), from €13,025 to €20,147
- Tangible fixed assets -€2,869
down €2,869 (-39.3%), from €7,306 to €4,437
of which Furniture and vehicles: -€2,687
- Receivables within one year -€1,159
down €1,159 (-62.7%), from €1,850 to €691
of which Trade receivables: -€766
- Cash -€753
down €753 (-8.5%), from €8,814 to €8,061
mainly Net result for the year (-€7,531) and Stocks and contracts (-€7,123)
- Profit (loss) carried forward -€7,531
down €7,531 (-24.1%), from -€31,188 to -€38,720
- Debts after one year +€7,500
new in 2025: €7,500
- Tax, wage and social debts +€2,921
up €2,921 (+173.9%), from €1,680 to €4,601
of which Remuneration and social security: +€1,822
- Other debts -€391
down €391 (-9.0%), from €4,337 to €3,947
- Staff costs +€7,040
new in 2025: €7,040
- Gross operating margin -€6,865
down €6,865 (-63.5%), from €10,814 to €3,948
- Turnover -€6,728
down €6,728 (-9.0%), from €74,859 to €68,132
- Taxes -€1,960
down €1,960, from €1,547 to -€413
- Other operating charges -€763
down €763 (-63.3%), from €1,205 to €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.
Cash bridge derived
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 | €30,995 | €33,336 | +€2,341 | +7.6% |
| Fixed assets | 21/28 | €7,306 | €4,437 | -€2,869 | -39.3% |
| Tangible fixed assets | 22/27 | €7,306 | €4,437 | -€2,869 | -39.3% |
| Furniture and vehicles | 24 | €6,677 | €3,990 | -€2,687 | -40.2% |
| Leasing and similar rights | 25 | €629 | €447 | -€182 | -29.0% |
| Current assets | 29/58 | €23,689 | €28,899 | +€5,210 | +22.0% |
| Stocks and contracts in progress | 3 | €13,025 | €20,147 | +€7,123 | +54.7% |
| Stocks | 30/36 | €13,025 | €20,147 | +€7,123 | +54.7% |
| Amounts receivable within one year | 40/41 | €1,850 | €691 | -€1,159 | -62.7% |
| Trade receivables | 40 | €1,456 | €691 | -€766 | -52.6% |
| Other amounts receivable | 41 | €394 | - | -€394 | |
| Cash at bank and in hand | 54/58 | €8,814 | €8,061 | -€753 | -8.5% |
| Total equity and liabilities | 10/49 | €30,995 | €33,336 | +€2,341 | +7.6% |
| Equity | 10/15 | €24,419 | €16,888 | -€7,531 | -30.8% |
| Contributions | 10/11 | €55,600 | €55,600 | = | 0.0% |
| Reserves | 13 | €8 | €8 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8 | €8 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8 | €8 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,188 | -€38,720 | -€7,531 | -24.1% |
| Amounts payable | 17/49 | €6,575 | €16,448 | +€9,872 | +150.1% |
| Amounts payable after more than one year | 17 | - | €7,500 | +€7,500 | |
| Financial debts | 170/4 | - | €7,500 | +€7,500 | |
| Amounts payable within one year | 42/48 | €6,575 | €8,948 | +€2,372 | +36.1% |
| Trade debts | 44 | €558 | €400 | -€158 | -28.4% |
| Suppliers | 440/4 | €558 | €400 | -€158 | -28.4% |
| Taxes, remuneration and social security | 45 | €1,680 | €4,601 | +€2,921 | +173.9% |
| Taxes | 450/3 | €1,680 | €2,779 | +€1,099 | +65.4% |
| Remuneration and social security | 454/9 | - | €1,822 | +€1,822 | |
| Other amounts payable | 47/48 | €4,337 | €3,947 | -€391 | -9.0% |
| Turnover | 70 | €74,859 | €68,132 | -€6,728 | -9.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €67,615 | €68,117 | +€502 | +0.7% |
| Remuneration, social security and pensions | 62 | - | €7,040 | +€7,040 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,208 | €3,757 | -€452 | -10.7% |
| Other operating charges | 640/8 | €1,205 | €442 | -€763 | -63.3% |
| Non-recurring operating charges | 66A | €0 | - | -€0 | |
| Gross operating margin | 9900 | €10,814 | €3,948 | -€6,865 | -63.5% |
| Operating profit (loss) | 9901 | €5,401 | -€7,290 | -€12,691 | |
| Financial income | 75/76B | €101 | - | -€101 | |
| Recurring financial income | 75 | €101 | - | -€101 | |
| Financial charges | 65/66B | €418 | €654 | +€236 | +56.4% |
| Recurring financial charges | 65 | €418 | €654 | +€236 | +56.4% |
| Profit (loss) for the period before taxes | 9903 | €5,084 | -€7,944 | -€13,028 | |
| Income taxes | 67/77 | €1,547 | -€413 | -€1,960 | |
| Profit (loss) for the period | 9904 | €3,537 | -€7,531 | -€11,068 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,537 | -€7,531 | -€11,068 |
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 9 October 2026 via checked.be.