CHANGE: 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.
CHANGE
Largest movements
- Cash -€9,881
down €9,881 (-81.4%), from €12,135 to €2,254
mainly Receivables within one year (-€8,356) and Net result for the year (-€7,812)
- Receivables within one year +€8,356
up €8,356 (+170.5%), from €4,902 to €13,258
of which Trade receivables: +€10,322
- Formation expenses -€1,364
down €1,364 (-25.0%), from €5,452 to €4,088
- Tangible fixed assets -€801
down €801 (-49.1%), from €1,631 to €830
of which Furniture and vehicles: -€661
- Profit (loss) carried forward -€7,812
down €7,812 (-80.6%), from -€9,696 to -€17,508
- Short-term financial debts +€3,544
new in 2025: €3,544
- Other debts +€654
up €654 (+17.0%), from €3,849 to €4,503
- Gross operating margin -€17,106
down €17,106, from €13,445 to -€3,661
- Financial charges +€981
up €981 (+395.5%), from €248 to €1,229
- Depreciation +€584
up €584 (+36.9%), from €1,581 to €2,165
- Other operating charges -€138
down €138 (-15.4%), from €895 to €757
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 | €24,121 | €20,430 | -€3,691 | -15.3% |
| Formation expenses | 20 | €5,452 | €4,088 | -€1,364 | -25.0% |
| Fixed assets | 21/28 | €1,631 | €830 | -€801 | -49.1% |
| Tangible fixed assets | 22/27 | €1,631 | €830 | -€801 | -49.1% |
| Plant, machinery and equipment | 23 | €140 | - | -€140 | |
| Furniture and vehicles | 24 | €1,491 | €830 | -€661 | -44.3% |
| Current assets | 29/58 | €17,037 | €15,512 | -€1,525 | -9.0% |
| Amounts receivable within one year | 40/41 | €4,902 | €13,258 | +€8,356 | +170.5% |
| Trade receivables | 40 | €2,936 | €13,258 | +€10,322 | +351.5% |
| Other amounts receivable | 41 | €1,966 | - | -€1,966 | |
| Cash at bank and in hand | 54/58 | €12,135 | €2,254 | -€9,881 | -81.4% |
| Total equity and liabilities | 10/49 | €24,121 | €20,430 | -€3,691 | -15.3% |
| Equity | 10/15 | €10,764 | €2,952 | -€7,812 | -72.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,696 | -€17,508 | -€7,812 | -80.6% |
| Amounts payable | 17/49 | €13,356 | €17,478 | +€4,122 | +30.9% |
| Amounts payable within one year | 42/48 | €13,356 | €17,478 | +€4,122 | +30.9% |
| Financial debts | 43 | - | €3,544 | +€3,544 | |
| Other loans | 439 | - | €3,544 | +€3,544 | |
| Trade debts | 44 | €9,508 | €9,431 | -€77 | -0.8% |
| Suppliers | 440/4 | €9,508 | €9,431 | -€77 | -0.8% |
| Other amounts payable | 47/48 | €3,849 | €4,503 | +€654 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,581 | €2,165 | +€584 | +36.9% |
| Other operating charges | 640/8 | €895 | €757 | -€138 | -15.4% |
| Gross operating margin | 9900 | €13,445 | -€3,661 | -€17,106 | |
| Operating profit (loss) | 9901 | €10,969 | -€6,583 | -€17,552 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €248 | €1,229 | +€981 | +395.5% |
| Recurring financial charges | 65 | €248 | €1,229 | +€981 | +395.5% |
| Profit (loss) for the period before taxes | 9903 | €10,721 | -€7,812 | -€18,533 | |
| Profit (loss) for the period | 9904 | €10,721 | -€7,812 | -€18,533 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,721 | -€7,812 | -€18,533 |
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 30 September 2026 via checked.be.