CHOICE: 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.
CHOICE
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-100.0%), from €1.1m to €0
of which Trade receivables: -€1.1m
- Debts after one year -€1.7m
down €1.7m (-42.5%), from €4.0m to €2.3m
of which Financial debts: -€1.0m
- Turnover -€501,909
down €501,909 (-46.7%), from €1.1m to €573,091
- Purchases and services -€294,846
down €294,846 (-78.0%), from €377,775 to €82,929
- Gross operating margin -€206,963
down €206,963 (-29.7%), from €697,225 to €490,262
- Financial charges -€99,548
down €99,548 (-99.9%), from €99,687 to €139
of which Non-recurring financial charges: -€99,687
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 | €70,149,219 | €69,067,905 | -€1.1m | -1.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €69,065,959 | €69,065,959 | = | 0.0% |
| Intangible fixed assets | 21 | €708,523 | €708,523 | = | 0.0% |
| Tangible fixed assets | 22/27 | €2,897 | €2,897 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,897 | €2,897 | = | 0.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €68,354,539 | €68,354,539 | = | 0.0% |
| Current assets | 29/58 | €1,083,260 | €1,946 | -€1.1m | -99.8% |
| Amounts receivable within one year | 40/41 | €1,081,364 | €0 | -€1.1m | -100.0% |
| Trade receivables | 40 | €1,077,500 | €0 | -€1.1m | -100.0% |
| Other amounts receivable | 41 | €3,864 | €0 | -€3,864 | -100.0% |
| Cash at bank and in hand | 54/58 | €1,896 | €1,946 | +€50 | +2.6% |
| Total equity and liabilities | 10/49 | €70,149,219 | €69,067,905 | -€1.1m | -1.5% |
| Equity | 10/15 | €66,140,066 | €66,630,189 | +€490,123 | +0.7% |
| Contributions | 10/11 | €66,699,000 | €66,699,000 | = | 0.0% |
| Capital | 10 | €66,699,000 | €66,699,000 | = | 0.0% |
| Issued capital | 100 | €66,699,000 | €66,699,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€558,934 | -€68,811 | +€490,123 | +87.7% |
| Amounts payable | 17/49 | €4,009,153 | €2,437,716 | -€1.6m | -39.2% |
| Amounts payable after more than one year | 17 | €4,009,153 | €2,304,632 | -€1.7m | -42.5% |
| Financial debts | 170/4 | €3,308,044 | €2,304,632 | -€1.0m | -30.3% |
| Trade debts | 175 | €701,109 | - | -€701,109 | |
| Amounts payable within one year | 42/48 | - | €133,084 | +€133,084 | |
| Trade debts | 44 | - | €133,084 | +€133,084 | |
| Suppliers | 440/4 | - | €133,084 | +€133,084 | |
| Turnover | 70 | €1,075,000 | €573,091 | -€501,909 | -46.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €377,775 | €82,929 | -€294,846 | -78.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,551 | €0 | -€10,551 | -100.0% |
| Gross operating margin | 9900 | €697,225 | €490,262 | -€206,963 | -29.7% |
| Operating profit (loss) | 9901 | €686,674 | €490,262 | -€196,412 | -28.6% |
| Financial charges | 65/66B | €99,687 | €139 | -€99,548 | -99.9% |
| Recurring financial charges | 65 | €99,687 | €139 | -€99,548 | -99.9% |
| Non-recurring financial charges | 66B | €99,687 | - | -€99,687 | |
| Profit (loss) for the period before taxes | 9903 | €586,987 | €490,123 | -€96,864 | -16.5% |
| Profit (loss) for the period | 9904 | €586,987 | €490,123 | -€96,864 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €586,987 | €490,123 | -€96,864 | -16.5% |
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 7 October 2026 via checked.be.