CF: what changed
Two fiscal 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.
CF
Largest movements
- Tangible fixed assets -€13,387
down €13,387 (-42.0%), from €31,880 to €18,493
of which Furniture and vehicles: -€10,244
- Cash -€3,545
down €3,545 (-48.8%), from €7,261 to €3,716
mainly Net result for the year (-€52,256) and Debts after one year (-€4,253)
- Receivables within one year +€1,738
up €1,738 (+20.5%), from €8,491 to €10,229
of which Trade receivables: +€1,030
- Deferred charges and accrued income +€924
up €924 (+105.5%), from €876 to €1,800
- Profit (loss) carried forward -€52,256
new in 2025: -€52,256
- Other debts +€27,760
up €27,760 (+100.4%), from €27,652 to €55,412
- Trade debts +€15,935
up €15,935 (+79.6%), from €20,009 to €35,944
- Debts after one year -€4,253
no longer reported in 2025 (was €4,253)
- Tax, wage and social debts -€1,679
no longer reported in 2025 (was €1,679)
- Gross operating margin -€41,412
down €41,412, from €4,134 to -€37,278
- Other operating charges -€1,120
down €1,120 (-50.6%), from €2,214 to €1,094
- Depreciation -€430
down €430 (-3.1%), from €14,040 to €13,610
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 | €57,231 | €42,738 | -€14,493 | -25.3% |
| Formation expenses | 20 | €223 | - | -€223 | |
| Fixed assets | 21/28 | €40,380 | €26,993 | -€13,387 | -33.2% |
| Tangible fixed assets | 22/27 | €31,880 | €18,493 | -€13,387 | -42.0% |
| Plant, machinery and equipment | 23 | €8,897 | €5,754 | -€3,143 | -35.3% |
| Furniture and vehicles | 24 | €22,983 | €12,739 | -€10,244 | -44.6% |
| Financial fixed assets | 28 | €8,500 | €8,500 | = | 0.0% |
| Current assets | 29/58 | €16,628 | €15,745 | -€883 | -5.3% |
| Amounts receivable within one year | 40/41 | €8,491 | €10,229 | +€1,738 | +20.5% |
| Trade receivables | 40 | €8,000 | €9,030 | +€1,030 | +12.9% |
| Other amounts receivable | 41 | €491 | €1,199 | +€708 | +144.2% |
| Cash at bank and in hand | 54/58 | €7,261 | €3,716 | -€3,545 | -48.8% |
| Deferred charges and accrued income | 490/1 | €876 | €1,800 | +€924 | +105.5% |
| Total equity and liabilities | 10/49 | €57,231 | €42,738 | -€14,493 | -25.3% |
| Equity | 10/15 | €3,638 | -€48,618 | -€52,256 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €1,638 | €1,638 | = | 0.0% |
| Distributable reserves | 133 | €1,638 | €1,638 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€52,256 | -€52,256 | |
| Amounts payable | 17/49 | €53,593 | €91,356 | +€37,763 | +70.5% |
| Amounts payable after more than one year | 17 | €4,253 | - | -€4,253 | |
| Financial debts | 170/4 | €4,253 | - | -€4,253 | |
| Amounts payable within one year | 42/48 | €49,340 | €91,356 | +€42,016 | +85.2% |
| Trade debts | 44 | €20,009 | €35,944 | +€15,935 | +79.6% |
| Suppliers | 440/4 | €20,009 | €35,944 | +€15,935 | +79.6% |
| Taxes, remuneration and social security | 45 | €1,679 | - | -€1,679 | |
| Taxes | 450/3 | €1,679 | - | -€1,679 | |
| Other amounts payable | 47/48 | €27,652 | €55,412 | +€27,760 | +100.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,040 | €13,610 | -€430 | -3.1% |
| Other operating charges | 640/8 | €2,214 | €1,094 | -€1,120 | -50.6% |
| Gross operating margin | 9900 | €4,134 | -€37,278 | -€41,412 | |
| Operating profit (loss) | 9901 | -€12,120 | -€51,982 | -€39,862 | -328.9% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €384 | €275 | -€109 | -28.4% |
| Recurring financial charges | 65 | €384 | €275 | -€109 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | -€12,504 | -€52,256 | -€39,752 | -317.9% |
| Profit (loss) for the period | 9904 | -€12,504 | -€52,256 | -€39,752 | -317.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,504 | -€52,256 | -€39,752 | -317.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.