BY37: 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.
BY37
Largest movements
- Cash -€13,517
down €13,517 (-18.1%), from €74,856 to €61,339
mainly Current portion of long-term debt (-€11,703) and Net result for the year (-€10,683)
- Receivables within one year +€4,992
up €4,992 (+113.9%), from €4,383 to €9,375
of which Other amounts receivable: +€4,918
- Current portion of long-term debt -€11,703
down €11,703 (-94.6%), from €12,374 to €671
- Reserves -€10,683
down €10,683 (-30.2%), from €35,396 to €24,714
- Tax, wage and social debts +€8,396
up €8,396 (+68.5%), from €12,249 to €20,645
of which Taxes: +€8,396
- Trade debts +€6,440
up €6,440 (+94.0%), from €6,848 to €13,288
of which Suppliers: +€7,203
- Other debts -€1,360
no longer reported in 2025 (was €1,360)
- Gross operating margin +€5,187
up €5,187 (+67.6%), from -€7,674 to -€2,487
- Taxes +€2,716
new in 2025: €2,716
- Depreciation -€1,401
down €1,401 (-67.7%), from €2,068 to €667
- Other operating charges +€589
up €589 (+279.5%), from €211 to €799
- Financial charges +€249
up €249 (+16.2%), from €1,538 to €1,787
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 | €80,900 | €71,318 | -€9,581 | -11.8% |
| Fixed assets | 21/28 | €1,459 | €604 | -€855 | -58.6% |
| Tangible fixed assets | 22/27 | €931 | €264 | -€667 | -71.7% |
| Plant, machinery and equipment | 23 | €183 | - | -€183 | |
| Furniture and vehicles | 24 | €747 | €264 | -€484 | -64.7% |
| Financial fixed assets | 28 | €528 | €340 | -€188 | -35.7% |
| Current assets | 29/58 | €79,440 | €70,715 | -€8,726 | -11.0% |
| Stocks and contracts in progress | 3 | €201 | - | -€201 | |
| Stocks | 30/36 | €201 | - | -€201 | |
| Amounts receivable within one year | 40/41 | €4,383 | €9,375 | +€4,992 | +113.9% |
| Trade receivables | 40 | €2,808 | €2,882 | +€74 | +2.6% |
| Other amounts receivable | 41 | €1,575 | €6,493 | +€4,918 | +312.2% |
| Cash at bank and in hand | 54/58 | €74,856 | €61,339 | -€13,517 | -18.1% |
| Total equity and liabilities | 10/49 | €80,900 | €71,318 | -€9,581 | -11.8% |
| Equity | 10/15 | €47,396 | €36,714 | -€10,683 | -22.5% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Contributions outside capital | 11 | €12,000 | €12,000 | = | 0.0% |
| Share premium | 1100/10 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €35,396 | €24,714 | -€10,683 | -30.2% |
| Distributable reserves | 133 | €35,396 | €24,714 | -€10,683 | -30.2% |
| Amounts payable | 17/49 | €33,503 | €34,605 | +€1,101 | +3.3% |
| Amounts payable after more than one year | 17 | €671 | - | -€671 | |
| Financial debts | 170/4 | €671 | - | -€671 | |
| Amounts payable within one year | 42/48 | €32,832 | €34,605 | +€1,773 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €12,374 | €671 | -€11,703 | -94.6% |
| Trade debts | 44 | €6,848 | €13,288 | +€6,440 | +94.0% |
| Suppliers | 440/4 | €6,085 | €13,288 | +€7,203 | +118.4% |
| Bills of exchange payable | 441 | €762 | - | -€762 | |
| Taxes, remuneration and social security | 45 | €12,249 | €20,645 | +€8,396 | +68.5% |
| Taxes | 450/3 | €9,526 | €17,922 | +€8,396 | +88.1% |
| Remuneration and social security | 454/9 | €2,723 | €2,723 | = | 0.0% |
| Other amounts payable | 47/48 | €1,360 | - | -€1,360 | |
| Remuneration, social security and pensions | 62 | - | €224 | +€224 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,068 | €667 | -€1,401 | -67.7% |
| Other operating charges | 640/8 | €211 | €799 | +€589 | +279.5% |
| Non-recurring operating charges | 66A | €15,323 | €2,007 | -€13,316 | -86.9% |
| Gross operating margin | 9900 | -€7,674 | -€2,487 | +€5,187 | +67.6% |
| Operating profit (loss) | 9901 | -€25,276 | -€6,185 | +€19,091 | +75.5% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €1,538 | €1,787 | +€249 | +16.2% |
| Recurring financial charges | 65 | €1,538 | €1,787 | +€249 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | -€26,814 | -€7,967 | +€18,847 | +70.3% |
| Income taxes | 67/77 | - | €2,716 | +€2,716 | |
| Profit (loss) for the period | 9904 | -€26,814 | -€10,683 | +€16,131 | +60.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,814 | -€10,683 | +€16,131 | +60.2% |
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 10 October 2026 via checked.be.