CHANGE YOUR GAME: 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.
CHANGE YOUR GAME
Largest movements
- Cash -€45,561
down €45,561 (-99.4%), from €45,847 to €286
mainly Net result for the year (-€88,395) and Debts after one year (-€13,453)
- Tangible fixed assets -€20,391
down €20,391 (-28.4%), from €71,913 to €51,522
of which Furniture and vehicles: -€15,171
- Intangible fixed assets -€16,518
down €16,518 (-50.8%), from €32,540 to €16,022
- Receivables within one year +€4,099
up €4,099, from €0 to €4,099
of which Other amounts receivable: +€3,414
- Deferred charges and accrued income +€1,969
new in 2025: €1,969
- Profit (loss) carried forward -€88,395
down €88,395 (-65.8%), from -€134,273 to -€222,668
- Other debts +€24,674
up €24,674 (+39.4%), from €62,653 to €87,327
- Debts after one year -€13,453
down €13,453 (-27.7%), from €48,519 to €35,065
- Trade debts +€3,597
up €3,597 (+167%), from €2,160 to €5,757
- Tax, wage and social debts -€3,403
down €3,403 (-89.9%), from €3,787 to €383
- Gross operating margin -€83,530
down €83,530, from €37,164 to -€46,366
- Other operating charges +€9,211
up €9,211 (+817%), from €1,128 to €10,339
- Write-downs +€2,073
up €2,073, from -€2,073 to €0
- Depreciation +€1,489
up €1,489 (+5.5%), from €27,013 to €28,503
- Financial income -€1,322
down €1,322 (-100.0%), from €1,322 to €0
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 | €150,300 | €73,899 | -€76,401 | -50.8% |
| Fixed assets | 21/28 | €104,453 | €67,544 | -€36,909 | -35.3% |
| Intangible fixed assets | 21 | €32,540 | €16,022 | -€16,518 | -50.8% |
| Tangible fixed assets | 22/27 | €71,913 | €51,522 | -€20,391 | -28.4% |
| Plant, machinery and equipment | 23 | €530 | €0 | -€530 | -100% |
| Furniture and vehicles | 24 | €66,692 | €51,522 | -€15,171 | -22.7% |
| Other tangible fixed assets | 26 | €4,691 | €0 | -€4,691 | -100% |
| Current assets | 29/58 | €45,847 | €6,355 | -€39,492 | -86.1% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €0 | €4,099 | +€4,099 | |
| Trade receivables | 40 | €0 | €685 | +€685 | |
| Other amounts receivable | 41 | - | €3,414 | +€3,414 | |
| Cash at bank and in hand | 54/58 | €45,847 | €286 | -€45,561 | -99.4% |
| Deferred charges and accrued income | 490/1 | - | €1,969 | +€1,969 | |
| Total equity and liabilities | 10/49 | €150,300 | €73,899 | -€76,401 | -50.8% |
| Equity | 10/15 | €15,727 | -€72,668 | -€88,395 | |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€134,273 | -€222,668 | -€88,395 | -65.8% |
| Amounts payable | 17/49 | €134,573 | €146,567 | +€11,994 | +8.9% |
| Amounts payable after more than one year | 17 | €48,519 | €35,065 | -€13,453 | -27.7% |
| Financial debts | 170/4 | €48,519 | €35,065 | -€13,453 | -27.7% |
| Amounts payable within one year | 42/48 | €81,473 | €106,921 | +€25,447 | +31.2% |
| Current portion of amounts payable after more than one year | 42 | €12,874 | €13,453 | +€579 | +4.5% |
| Trade debts | 44 | €2,160 | €5,757 | +€3,597 | +167% |
| Suppliers | 440/4 | €2,160 | €5,757 | +€3,597 | +167% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,787 | €383 | -€3,403 | -89.9% |
| Taxes | 450/3 | €3,787 | €383 | -€3,403 | -89.9% |
| Other amounts payable | 47/48 | €62,653 | €87,327 | +€24,674 | +39.4% |
| Accrued charges and deferred income | 492/3 | €4,581 | €4,581 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,013 | €28,503 | +€1,489 | +5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,073 | €0 | +€2,073 | |
| Other operating charges | 640/8 | €1,128 | €10,339 | +€9,211 | +817% |
| Gross operating margin | 9900 | €37,164 | -€46,366 | -€83,530 | |
| Operating profit (loss) | 9901 | €11,096 | -€85,208 | -€96,304 | |
| Financial income | 75/76B | €1,322 | €0 | -€1,322 | -100.0% |
| Recurring financial income | 75 | €1,322 | €0 | -€1,322 | -100.0% |
| Financial charges | 65/66B | €2,220 | €2,954 | +€734 | +33.1% |
| Recurring financial charges | 65 | €2,220 | €2,954 | +€734 | +33.1% |
| Profit (loss) for the period before taxes | 9903 | €10,198 | -€88,162 | -€98,360 | |
| Income taxes | 67/77 | €150 | €233 | +€83 | +55.7% |
| Profit (loss) for the period | 9904 | €10,048 | -€88,395 | -€98,443 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,048 | -€88,395 | -€98,443 |
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 19 October 2026 via checked.be.