C.INVESTMENT: 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.
C.INVESTMENT
Largest movements
- Cash +€18,001
up €18,001 (+372%), from €4,842 to €22,843
mainly Other debts (+€65,992) and Depreciation (+€17,125)
- Intangible fixed assets -€15,707
down €15,707 (-26.6%), from €59,083 to €43,377
- Tangible fixed assets +€7,731
up €7,731 (+134%), from €5,769 to €13,500
of which Other tangible fixed assets: +€6,773
- Receivables within one year +€3,184
new in 2025: €3,184
of which Other amounts receivable: +€3,084
- Other debts +€65,992
up €65,992 (+38.8%), from €170,204 to €236,196
- Profit (loss) carried forward -€33,286
down €33,286 (-25.2%), from -€131,956 to -€165,242
- Current portion of long-term debt -€19,112
down €19,112 (-100%), from €19,112 to €0
- Gross operating margin -€24,050
down €24,050, from €8,838 to -€15,212
- Financial charges -€609
down €609 (-52.6%), from €1,159 to €550
- Depreciation +€325
up €325 (+1.9%), from €16,800 to €17,125
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 | €69,981 | €83,266 | +€13,285 | +19.0% |
| Fixed assets | 21/28 | €64,902 | €56,926 | -€7,976 | -12.3% |
| Intangible fixed assets | 21 | €59,083 | €43,377 | -€15,707 | -26.6% |
| Tangible fixed assets | 22/27 | €5,769 | €13,500 | +€7,731 | +134% |
| Furniture and vehicles | 24 | - | €958 | +€958 | |
| Other tangible fixed assets | 26 | €5,769 | €12,542 | +€6,773 | +117% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €5,079 | €26,339 | +€21,260 | +419% |
| Stocks and contracts in progress | 3 | €237 | €312 | +€75 | +31.7% |
| Stocks | 30/36 | €237 | €312 | +€75 | +31.7% |
| Amounts receivable within one year | 40/41 | - | €3,184 | +€3,184 | |
| Trade receivables | 40 | - | €100 | +€100 | |
| Other amounts receivable | 41 | - | €3,084 | +€3,084 | |
| Cash at bank and in hand | 54/58 | €4,842 | €22,843 | +€18,001 | +372% |
| Total equity and liabilities | 10/49 | €69,981 | €83,266 | +€13,285 | +19.0% |
| Equity | 10/15 | -€124,908 | -€158,194 | -€33,286 | -26.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €848 | €848 | = | 0.0% |
| Distributable reserves | 133 | €848 | €848 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€131,956 | -€165,242 | -€33,286 | -25.2% |
| Amounts payable | 17/49 | €194,889 | €241,460 | +€46,571 | +23.9% |
| Amounts payable within one year | 42/48 | €194,889 | €241,460 | +€46,571 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €19,112 | €0 | -€19,112 | -100% |
| Trade debts | 44 | €5,038 | €4,978 | -€61 | -1.2% |
| Suppliers | 440/4 | €5,038 | €4,978 | -€61 | -1.2% |
| Taxes, remuneration and social security | 45 | €535 | €286 | -€248 | -46.5% |
| Taxes | 450/3 | €535 | €286 | -€248 | -46.5% |
| Other amounts payable | 47/48 | €170,204 | €236,196 | +€65,992 | +38.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,800 | €17,125 | +€325 | +1.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €8,838 | -€15,212 | -€24,050 | |
| Operating profit (loss) | 9901 | -€8,349 | -€32,736 | -€24,387 | -292% |
| Financial income | 75/76B | €140 | €0 | -€140 | -100.0% |
| Recurring financial income | 75 | €140 | €0 | -€140 | -100.0% |
| Financial charges | 65/66B | €1,159 | €550 | -€609 | -52.6% |
| Recurring financial charges | 65 | €1,159 | €550 | -€609 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | -€9,368 | -€33,286 | -€23,918 | -255% |
| Profit (loss) for the period | 9904 | -€9,368 | -€33,286 | -€23,918 | -255% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,368 | -€33,286 | -€23,918 | -255% |
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 22 October 2026 via checked.be.