CO: 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.
CO
Largest movements
- Receivables within one year +€9,689
up €9,689 (+645%), from €1,502 to €11,191
of which Trade receivables: +€9,479
- Cash -€8,866
down €8,866 (-79.4%), from €11,167 to €2,302
mainly Receivables within one year (-€9,689) and Investment in fixed assets (net) (-€1,750)
- Deferred charges and accrued income +€1,522
new in 2025: €1,522
- Profit (loss) carried forward +€2,154
up €2,154 (+383%), from €562 to €2,716
- Other debts +€1,401
up €1,401 (+8.3%), from €16,936 to €18,337
- Tax, wage and social debts -€678
no longer reported in 2025 (was €678)
- Trade debts -€377
no longer reported in 2025 (was €377)
- Staff costs -€7,151
no longer reported in 2025 (was €7,151)
- Gross operating margin -€5,131
down €5,131 (-55.7%), from €9,215 to €4,085
- Depreciation +€350
up €350 (+28.1%), from €1,246 to €1,596
- Other operating charges +€150
up €150 (+300%), from €50 to €200
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 | €19,653 | €22,153 | +€2,499 | +12.7% |
| Fixed assets | 21/28 | €6,984 | €7,138 | +€154 | +2.2% |
| Tangible fixed assets | 22/27 | €4,984 | €5,138 | +€154 | +3.1% |
| Plant, machinery and equipment | 23 | €4,184 | €3,138 | -€1,046 | -25.0% |
| Furniture and vehicles | 24 | €800 | €2,000 | +€1,200 | +150% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €12,669 | €15,015 | +€2,345 | +18.5% |
| Amounts receivable within one year | 40/41 | €1,502 | €11,191 | +€9,689 | +645% |
| Trade receivables | 40 | - | €9,479 | +€9,479 | |
| Other amounts receivable | 41 | €1,502 | €1,711 | +€209 | +13.9% |
| Cash at bank and in hand | 54/58 | €11,167 | €2,302 | -€8,866 | -79.4% |
| Deferred charges and accrued income | 490/1 | - | €1,522 | +€1,522 | |
| Total equity and liabilities | 10/49 | €19,653 | €22,153 | +€2,499 | +12.7% |
| Equity | 10/15 | €1,662 | €3,816 | +€2,154 | +130% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Contributions outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Other | 1109/19 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €562 | €2,716 | +€2,154 | +383% |
| Amounts payable | 17/49 | €17,991 | €18,337 | +€346 | +1.9% |
| Amounts payable within one year | 42/48 | €17,991 | €18,337 | +€346 | +1.9% |
| Trade debts | 44 | €377 | - | -€377 | |
| Suppliers | 440/4 | €377 | - | -€377 | |
| Taxes, remuneration and social security | 45 | €678 | - | -€678 | |
| Taxes | 450/3 | €678 | - | -€678 | |
| Other amounts payable | 47/48 | €16,936 | €18,337 | +€1,401 | +8.3% |
| Remuneration, social security and pensions | 62 | €7,151 | - | -€7,151 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,246 | €1,596 | +€350 | +28.1% |
| Other operating charges | 640/8 | €50 | €200 | +€150 | +300% |
| Gross operating margin | 9900 | €9,215 | €4,085 | -€5,131 | -55.7% |
| Operating profit (loss) | 9901 | €768 | €2,289 | +€1,520 | +198% |
| Financial charges | 65/66B | €106 | €135 | +€29 | +27.4% |
| Recurring financial charges | 65 | €106 | €135 | +€29 | +27.4% |
| Profit (loss) for the period before taxes | 9903 | €662 | €2,154 | +€1,491 | +225% |
| Profit (loss) for the period | 9904 | €662 | €2,154 | +€1,491 | +225% |
| Profit (loss) for the period to be appropriated | 9905 | €662 | €2,154 | +€1,491 | +225% |
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.