CLASS: 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.
CLASS
Largest movements
- Cash -€3.0m
down €3.0m (-64.8%), from €4.6m to €1.6m
mainly Current investments (-€2.4m) and Current portion of long-term debt (-€452,613)
- Current investments +€2.4m
new in 2025: €2.4m
- Financial fixed assets +€247,988
up €247,988 (+22.4%), from €1.1m to €1.4m
- Receivables after one year +€160,000
new in 2025: €160,000
- Tangible fixed assets -€121,972
down €121,972 (-56.9%), from €214,370 to €92,398
- Current portion of long-term debt -€452,613
no longer reported in 2025 (was €452,613)
- Debts after one year +€351,433
up €351,433 (+512.5%), from €68,567 to €420,000
- Trade debts -€76,734
down €76,734 (-93.7%), from €81,918 to €5,184
- Gross operating margin -€4.8m
down €4.8m (-99.2%), from €4.8m to €39,794
- Taxes -€426,644
down €426,644 (-97.8%), from €436,084 to €9,441
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,925,744 | €5,631,807 | -€293,937 | -5.0% |
| Fixed assets | 21/28 | €1,322,120 | €1,448,136 | +€126,016 | +9.5% |
| Tangible fixed assets | 22/27 | €214,370 | €92,398 | -€121,972 | -56.9% |
| Furniture and vehicles | 24 | €214,370 | €92,398 | -€121,972 | -56.9% |
| Financial fixed assets | 28 | €1,107,750 | €1,355,738 | +€247,988 | +22.4% |
| Current assets | 29/58 | €4,603,624 | €4,183,671 | -€419,952 | -9.1% |
| Amounts receivable after more than one year | 29 | - | €160,000 | +€160,000 | |
| Other amounts receivable | 291 | - | €160,000 | +€160,000 | |
| Amounts receivable within one year | 40/41 | - | €15,000 | +€15,000 | |
| Trade receivables | 40 | - | €15,000 | +€15,000 | |
| Current investments | 50/53 | - | €2,382,000 | +€2.4m | |
| Cash at bank and in hand | 54/58 | €4,603,349 | €1,622,219 | -€3.0m | -64.8% |
| Deferred charges and accrued income | 490/1 | €275 | €4,452 | +€4,178 | +1521.1% |
| Total equity and liabilities | 10/49 | €5,925,744 | €5,631,807 | -€293,937 | -5.0% |
| Equity | 10/15 | €4,796,384 | €4,745,729 | -€50,655 | -1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,777,784 | €4,726,609 | -€51,175 | -1.1% |
| Distributable reserves | 133 | €4,777,784 | €4,726,609 | -€51,175 | -1.1% |
| Profit (loss) carried forward | 14 | - | €520 | +€520 | |
| Amounts payable | 17/49 | €1,129,359 | €886,078 | -€243,282 | -21.5% |
| Amounts payable after more than one year | 17 | €68,567 | €420,000 | +€351,433 | +512.5% |
| Financial debts | 170/4 | €68,567 | €420,000 | +€351,433 | +512.5% |
| Amounts payable within one year | 42/48 | €1,060,793 | €466,078 | -€594,715 | -56.1% |
| Current portion of amounts payable after more than one year | 42 | €452,613 | - | -€452,613 | |
| Trade debts | 44 | €81,918 | €5,184 | -€76,734 | -93.7% |
| Suppliers | 440/4 | €81,918 | €5,184 | -€76,734 | -93.7% |
| Taxes, remuneration and social security | 45 | €431,219 | €407,547 | -€23,671 | -5.5% |
| Taxes | 450/3 | €431,219 | €407,547 | -€23,671 | -5.5% |
| Other amounts payable | 47/48 | €95,043 | €53,347 | -€41,696 | -43.9% |
| Non-recurring operating income | 76A | €4,808,111 | - | -€4.8m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,181 | €9,077 | -€9,105 | -50.1% |
| Other operating charges | 640/8 | €1,668 | €2,495 | +€827 | +49.6% |
| Non-recurring operating charges | 66A | - | €23,074 | +€23,074 | |
| Gross operating margin | 9900 | €4,827,380 | €39,794 | -€4.8m | -99.2% |
| Operating profit (loss) | 9901 | €4,807,531 | €5,149 | -€4.8m | -99.9% |
| Financial income | 75/76B | €10,155 | €30,293 | +€20,138 | +198.3% |
| Recurring financial income | 75 | €10,155 | €30,293 | +€20,138 | +198.3% |
| Financial charges | 65/66B | €22,897 | €25,481 | +€2,584 | +11.3% |
| Recurring financial charges | 65 | €22,897 | €25,481 | +€2,584 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €4,794,789 | €9,961 | -€4.8m | -99.8% |
| Income taxes | 67/77 | €436,084 | €9,441 | -€426,644 | -97.8% |
| Profit (loss) for the period | 9904 | €4,358,705 | €520 | -€4.4m | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,358,705 | €520 | -€4.4m | -100.0% |
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.