CLIFFHANGER: 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.
CLIFFHANGER
Largest movements
- Tangible fixed assets +€23,570
up €23,570 (+305.6%), from €7,712 to €31,282
of which Land and buildings: +€25,056
- Cash -€8,438
down €8,438 (-88.1%), from €9,577 to €1,139
mainly Investment in fixed assets (net) (-€27,422) and Other debts (-€11,311)
- Receivables within one year +€2,889
up €2,889 (+9.8%), from €29,577 to €32,466
of which Other amounts receivable: +€2,065
- Deferred charges and accrued income -€1,793
no longer reported in 2025 (was €1,793)
- Profit (loss) carried forward +€14,757
up €14,757 (+295.3%), from €4,998 to €19,755
- Other debts -€11,311
no longer reported in 2025 (was €11,311)
- Debts after one year +€9,837
new in 2025: €9,837
- Tax, wage and social debts +€3,563
up €3,563 (+28.1%), from €12,672 to €16,236
- Short-term financial debts -€1,454
down €1,454 (-93.0%), from €1,564 to €110
- Gross operating margin +€12,724
up €12,724 (+114.0%), from €11,162 to €23,885
- Taxes +€1,930
up €1,930 (+95.8%), from €2,014 to €3,945
- Depreciation +€1,808
up €1,808 (+88.4%), from €2,044 to €3,851
- Staff costs -€344
down €344 (-88.9%), from €387 to €43
- Other operating charges +€250
up €250 (+78.6%), from €318 to €568
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 | €48,919 | €65,148 | +€16,229 | +33.2% |
| Fixed assets | 21/28 | €7,972 | €31,542 | +€23,570 | +295.7% |
| Tangible fixed assets | 22/27 | €7,712 | €31,282 | +€23,570 | +305.6% |
| Land and buildings | 22 | - | €25,056 | +€25,056 | |
| Plant, machinery and equipment | 23 | €2,551 | €2,002 | -€548 | -21.5% |
| Furniture and vehicles | 24 | €5,161 | €4,224 | -€937 | -18.2% |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €40,947 | €33,606 | -€7,341 | -17.9% |
| Amounts receivable within one year | 40/41 | €29,577 | €32,466 | +€2,889 | +9.8% |
| Trade receivables | 40 | €29,577 | €30,401 | +€824 | +2.8% |
| Other amounts receivable | 41 | - | €2,065 | +€2,065 | |
| Cash at bank and in hand | 54/58 | €9,577 | €1,139 | -€8,438 | -88.1% |
| Deferred charges and accrued income | 490/1 | €1,793 | - | -€1,793 | |
| Total equity and liabilities | 10/49 | €48,919 | €65,148 | +€16,229 | +33.2% |
| Equity | 10/15 | €19,159 | €33,916 | +€14,757 | +77.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €4,161 | €4,161 | = | 0.0% |
| Distributable reserves | 133 | €4,161 | €4,161 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,998 | €19,755 | +€14,757 | +295.3% |
| Amounts payable | 17/49 | €29,760 | €31,232 | +€1,472 | +4.9% |
| Amounts payable after more than one year | 17 | - | €9,837 | +€9,837 | |
| Financial debts | 170/4 | - | €9,837 | +€9,837 | |
| Amounts payable within one year | 42/48 | €27,110 | €18,747 | -€8,364 | -30.9% |
| Financial debts | 43 | €1,564 | €110 | -€1,454 | -93.0% |
| Credit institutions | 430/8 | €1,564 | €110 | -€1,454 | -93.0% |
| Trade debts | 44 | €1,563 | €2,401 | +€838 | +53.6% |
| Suppliers | 440/4 | €1,563 | €2,401 | +€838 | +53.6% |
| Taxes, remuneration and social security | 45 | €12,672 | €16,236 | +€3,563 | +28.1% |
| Taxes | 450/3 | €12,672 | €16,236 | +€3,563 | +28.1% |
| Other amounts payable | 47/48 | €11,311 | - | -€11,311 | |
| Accrued charges and deferred income | 492/3 | €2,650 | €2,649 | -€1 | 0.0% |
| Remuneration, social security and pensions | 62 | €387 | €43 | -€344 | -88.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,044 | €3,851 | +€1,808 | +88.4% |
| Other operating charges | 640/8 | €318 | €568 | +€250 | +78.6% |
| Non-recurring operating charges | 66A | €479 | - | -€479 | |
| Gross operating margin | 9900 | €11,162 | €23,885 | +€12,724 | +114.0% |
| Operating profit (loss) | 9901 | €7,933 | €19,423 | +€11,490 | +144.8% |
| Financial income | 75/76B | €0 | €22 | +€22 | +219200.0% |
| Recurring financial income | 75 | €0 | €22 | +€22 | +219200.0% |
| Financial charges | 65/66B | €921 | €743 | -€179 | -19.4% |
| Recurring financial charges | 65 | €921 | €743 | -€179 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | €7,012 | €18,702 | +€11,690 | +166.7% |
| Income taxes | 67/77 | €2,014 | €3,945 | +€1,930 | +95.8% |
| Profit (loss) for the period | 9904 | €4,998 | €14,757 | +€9,760 | +195.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,998 | €14,757 | +€9,760 | +195.3% |
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 10 October 2026 via checked.be.