ChangeChange: 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.
ChangeChange
Largest movements
- Receivables within one year -€42,296
down €42,296 (-9.0%), from €468,676 to €426,381
of which Trade receivables: -€37,426
- Tangible fixed assets +€13,308
up €13,308 (+24.6%), from €54,127 to €67,434
of which Furniture and vehicles: +€13,845
- Cash -€6,693
down €6,693 (-40.8%), from €16,402 to €9,709
mainly Accrued charges and deferred income (-€62,637) and Debts after one year (-€33,583)
- Accrued charges and deferred income -€62,637
down €62,637 (-85.9%), from €72,960 to €10,323
- Debts after one year -€33,583
down €33,583 (-51.7%), from €65,000 to €31,417
- Current portion of long-term debt +€33,583
up €33,583, from €0 to €33,583
- Trade debts +€32,730
up €32,730 (+2,372%), from €1,380 to €34,110
- Profit (loss) carried forward -€7,651
down €7,651 (-3.6%), from €211,177 to €203,526
- Gross operating margin -€120,922
down €120,922 (-92.6%), from €130,633 to €9,711
- Taxes -€42,110
down €42,110 (-97.0%), from €43,428 to €1,318
- Depreciation +€6,302
up €6,302 (+65.9%), from €9,564 to €15,866
- Financial income -€6,105
down €6,105 (-29.4%), from €20,781 to €14,676
- Staff costs +€5,303
new in 2025: €5,303
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 | €540,455 | €505,021 | -€35,435 | -6.6% |
| Fixed assets | 21/28 | €55,377 | €68,791 | +€13,415 | +24.2% |
| Tangible fixed assets | 22/27 | €54,127 | €67,434 | +€13,308 | +24.6% |
| Plant, machinery and equipment | 23 | €1,078 | €615 | -€462 | -42.9% |
| Furniture and vehicles | 24 | €52,974 | €66,819 | +€13,845 | +26.1% |
| Other tangible fixed assets | 26 | €74 | €0 | -€74 | -100% |
| Financial fixed assets | 28 | €1,250 | €1,357 | +€107 | +8.5% |
| Current assets | 29/58 | €485,079 | €436,229 | -€48,849 | -10.1% |
| Amounts receivable within one year | 40/41 | €468,676 | €426,381 | -€42,296 | -9.0% |
| Trade receivables | 40 | €76,050 | €38,624 | -€37,426 | -49.2% |
| Other amounts receivable | 41 | €392,626 | €387,756 | -€4,870 | -1.2% |
| Cash at bank and in hand | 54/58 | €16,402 | €9,709 | -€6,693 | -40.8% |
| Deferred charges and accrued income | 490/1 | €0 | €139 | +€139 | |
| Total equity and liabilities | 10/49 | €540,455 | €505,021 | -€35,435 | -6.6% |
| Equity | 10/15 | €326,044 | €318,393 | -€7,651 | -2.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €111,867 | €111,867 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,924 | €17,924 | = | 0.0% |
| Distributable reserves | 133 | €93,943 | €93,943 | = | 0.0% |
| Profit (loss) carried forward | 14 | €211,177 | €203,526 | -€7,651 | -3.6% |
| Amounts payable | 17/49 | €214,411 | €186,628 | -€27,783 | -13.0% |
| Amounts payable after more than one year | 17 | €65,000 | €31,417 | -€33,583 | -51.7% |
| Financial debts | 170/4 | €65,000 | €31,417 | -€33,583 | -51.7% |
| Amounts payable within one year | 42/48 | €76,451 | €144,888 | +€68,437 | +89.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | €33,583 | +€33,583 | |
| Financial debts | 43 | €4,543 | €2,973 | -€1,571 | -34.6% |
| Credit institutions | 430/8 | €4,543 | €2,973 | -€1,571 | -34.6% |
| Trade debts | 44 | €1,380 | €34,110 | +€32,730 | +2,372% |
| Suppliers | 440/4 | €1,380 | €34,110 | +€32,730 | +2,372% |
| Taxes, remuneration and social security | 45 | €47,093 | €49,143 | +€2,050 | +4.4% |
| Taxes | 450/3 | €44,884 | €47,143 | +€2,259 | +5.0% |
| Remuneration and social security | 454/9 | €2,209 | €2,000 | -€209 | -9.5% |
| Other amounts payable | 47/48 | €23,434 | €25,079 | +€1,645 | +7.0% |
| Accrued charges and deferred income | 492/3 | €72,960 | €10,323 | -€62,637 | -85.9% |
| Non-recurring operating income | 76A | €79,000 | €4,541 | -€74,459 | -94.3% |
| Remuneration, social security and pensions | 62 | - | €5,303 | +€5,303 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,564 | €15,866 | +€6,302 | +65.9% |
| Other operating charges | 640/8 | €1,241 | €2,314 | +€1,074 | +86.6% |
| Gross operating margin | 9900 | €130,633 | €9,711 | -€120,922 | -92.6% |
| Operating profit (loss) | 9901 | €119,828 | -€13,772 | -€133,601 | |
| Financial income | 75/76B | €20,781 | €14,676 | -€6,105 | -29.4% |
| Recurring financial income | 75 | €20,781 | €14,676 | -€6,105 | -29.4% |
| Financial charges | 65/66B | €3,238 | €7,236 | +€3,998 | +123% |
| Recurring financial charges | 65 | €3,238 | €7,236 | +€3,998 | +123% |
| Profit (loss) for the period before taxes | 9903 | €137,371 | -€6,333 | -€143,704 | |
| Income taxes | 67/77 | €43,428 | €1,318 | -€42,110 | -97.0% |
| Profit (loss) for the period | 9904 | €93,943 | -€7,651 | -€101,594 | |
| Profit (loss) for the period to be appropriated | 9905 | €93,943 | -€7,651 | -€101,594 |
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 13 October 2026 via checked.be.