Code Cliff: 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.
Code Cliff
Largest movements
- Receivables within one year -€52,667
down €52,667 (-100.0%), from €52,684 to €17
of which Trade receivables: -€52,684
- Tangible fixed assets -€12,586
down €12,586 (-48.4%), from €26,014 to €13,427
of which Furniture and vehicles: -€9,811
- Cash +€9,646
up €9,646 (+97.5%), from €9,895 to €19,541
mainly Receivables within one year (+€52,667) and Depreciation (+€12,586)
- Other debts -€35,374
down €35,374 (-61.8%), from €57,243 to €21,868
- Tax, wage and social debts -€10,252
down €10,252 (-62.9%), from €16,308 to €6,057
of which Taxes: -€5,480
- Debts after one year -€7,114
down €7,114 (-66.4%), from €10,721 to €3,607
- Profit (loss) carried forward -€3,627
down €3,627 (-36.0%), from -€10,063 to -€13,689
- Gross operating margin -€14,228
down €14,228 (-57.5%), from €24,731 to €10,503
- Depreciation -€683
down €683 (-5.1%), from €13,269 to €12,586
- Other operating charges +€268
up €268 (+33.3%), from €803 to €1,071
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 | €89,280 | €33,733 | -€55,548 | -62.2% |
| Fixed assets | 21/28 | €26,014 | €13,427 | -€12,586 | -48.4% |
| Tangible fixed assets | 22/27 | €26,014 | €13,427 | -€12,586 | -48.4% |
| Land and buildings | 22 | €7,114 | €6,223 | -€891 | -12.5% |
| Plant, machinery and equipment | 23 | €3,536 | €1,652 | -€1,884 | -53.3% |
| Furniture and vehicles | 24 | €15,363 | €5,552 | -€9,811 | -63.9% |
| Current assets | 29/58 | €63,267 | €20,305 | -€42,961 | -67.9% |
| Amounts receivable within one year | 40/41 | €52,684 | €17 | -€52,667 | -100.0% |
| Trade receivables | 40 | €52,684 | €0 | -€52,684 | -100.0% |
| Other amounts receivable | 41 | €0 | €17 | +€17 | |
| Cash at bank and in hand | 54/58 | €9,895 | €19,541 | +€9,646 | +97.5% |
| Deferred charges and accrued income | 490/1 | €687 | €747 | +€60 | +8.8% |
| Total equity and liabilities | 10/49 | €89,280 | €33,733 | -€55,548 | -62.2% |
| Equity | 10/15 | -€9,063 | -€12,689 | -€3,627 | -40.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,063 | -€13,689 | -€3,627 | -36.0% |
| Amounts payable | 17/49 | €98,343 | €46,422 | -€51,921 | -52.8% |
| Amounts payable after more than one year | 17 | €10,721 | €3,607 | -€7,114 | -66.4% |
| Financial debts | 170/4 | €10,721 | €3,607 | -€7,114 | -66.4% |
| Amounts payable within one year | 42/48 | €81,464 | €36,024 | -€45,440 | -55.8% |
| Current portion of amounts payable after more than one year | 42 | €6,982 | €7,114 | +€132 | +1.9% |
| Financial debts | 43 | €19 | €0 | -€19 | -100.0% |
| Credit institutions | 430/8 | €19 | €0 | -€19 | -100.0% |
| Trade debts | 44 | €913 | €986 | +€73 | +8.0% |
| Suppliers | 440/4 | €913 | €986 | +€73 | +8.0% |
| Taxes, remuneration and social security | 45 | €16,308 | €6,057 | -€10,252 | -62.9% |
| Taxes | 450/3 | €11,536 | €6,057 | -€5,480 | -47.5% |
| Remuneration and social security | 454/9 | €4,772 | €0 | -€4,772 | -100.0% |
| Other amounts payable | 47/48 | €57,243 | €21,868 | -€35,374 | -61.8% |
| Accrued charges and deferred income | 492/3 | €6,158 | €6,790 | +€632 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,269 | €12,586 | -€683 | -5.1% |
| Other operating charges | 640/8 | €803 | €1,071 | +€268 | +33.3% |
| Gross operating margin | 9900 | €24,731 | €10,503 | -€14,228 | -57.5% |
| Operating profit (loss) | 9901 | €10,659 | -€3,154 | -€13,813 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €462 | €340 | -€122 | -26.4% |
| Recurring financial charges | 65 | €462 | €340 | -€122 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €10,197 | -€3,494 | -€13,691 | |
| Income taxes | 67/77 | €146 | €133 | -€13 | -8.9% |
| Profit (loss) for the period | 9904 | €10,052 | -€3,627 | -€13,678 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,052 | -€3,627 | -€13,678 |
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 8 October 2026 via checked.be.