CODE COULEUR: 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.
CODE COULEUR
Largest movements
- Tangible fixed assets -€13,461
down €13,461 (-31.0%), from €43,382 to €29,921
of which Leasing and similar rights: -€7,284
- Receivables within one year -€9,131
down €9,131 (-14.0%), from €65,107 to €55,976
of which Trade receivables: -€12,496
- Stocks and contracts -€5,813
down €5,813 (-65.9%), from €8,823 to €3,009
- Cash -€4,835
down €4,835 (-77.8%), from €6,219 to €1,384
mainly Debts after one year (-€20,981) and Net result for the year (-€15,652)
- Debts after one year -€20,981
down €20,981 (-47.6%), from €44,040 to €23,059
- Short-term financial debts +€14,818
new in 2025: €14,818
- Reserves -€10,000
down €10,000 (-54.3%), from €18,400 to €8,400
- Trade debts -€7,109
down €7,109 (-22.1%), from €32,177 to €25,067
- Profit (loss) carried forward -€5,652
down €5,652 (-59.2%), from -€9,554 to -€15,206
- Gross operating margin -€60,966
down €60,966 (-30.8%), from €198,056 to €137,090
- Staff costs -€11,325
down €11,325 (-8.0%), from €141,802 to €130,477
- Taxes -€5,695
down €5,695 (-97.7%), from €5,832 to €137
- Depreciation -€3,092
down €3,092 (-14.1%), from €21,917 to €18,825
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 | €129,211 | €94,709 | -€34,501 | -26.7% |
| Fixed assets | 21/28 | €44,982 | €31,521 | -€13,461 | -29.9% |
| Tangible fixed assets | 22/27 | €43,382 | €29,921 | -€13,461 | -31.0% |
| Plant, machinery and equipment | 23 | €88 | - | -€88 | |
| Furniture and vehicles | 24 | €17,280 | €11,191 | -€6,089 | -35.2% |
| Leasing and similar rights | 25 | €26,014 | €18,730 | -€7,284 | -28.0% |
| Financial fixed assets | 28 | €1,600 | €1,600 | = | 0.0% |
| Current assets | 29/58 | €84,228 | €63,188 | -€21,040 | -25.0% |
| Stocks and contracts in progress | 3 | €8,823 | €3,009 | -€5,813 | -65.9% |
| Stocks | 30/36 | €8,823 | €3,009 | -€5,813 | -65.9% |
| Amounts receivable within one year | 40/41 | €65,107 | €55,976 | -€9,131 | -14.0% |
| Trade receivables | 40 | €48,921 | €36,424 | -€12,496 | -25.5% |
| Other amounts receivable | 41 | €16,187 | €19,552 | +€3,366 | +20.8% |
| Cash at bank and in hand | 54/58 | €6,219 | €1,384 | -€4,835 | -77.8% |
| Deferred charges and accrued income | 490/1 | €4,080 | €2,819 | -€1,261 | -30.9% |
| Total equity and liabilities | 10/49 | €129,211 | €94,709 | -€34,501 | -26.7% |
| Equity | 10/15 | €11,846 | -€3,806 | -€15,652 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €18,400 | €8,400 | -€10,000 | -54.3% |
| Distributable reserves | 133 | €18,400 | €8,400 | -€10,000 | -54.3% |
| Profit (loss) carried forward | 14 | -€9,554 | -€15,206 | -€5,652 | -59.2% |
| Amounts payable | 17/49 | €117,365 | €98,516 | -€18,849 | -16.1% |
| Amounts payable after more than one year | 17 | €44,040 | €23,059 | -€20,981 | -47.6% |
| Financial debts | 170/4 | €44,040 | €23,059 | -€20,981 | -47.6% |
| Amounts payable within one year | 42/48 | €73,325 | €75,457 | +€2,132 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €24,685 | €21,899 | -€2,786 | -11.3% |
| Financial debts | 43 | - | €14,818 | +€14,818 | |
| Credit institutions | 430/8 | - | €14,818 | +€14,818 | |
| Trade debts | 44 | €32,177 | €25,067 | -€7,109 | -22.1% |
| Suppliers | 440/4 | €32,177 | €25,067 | -€7,109 | -22.1% |
| Advances received on contracts in progress | 46 | €7,545 | €7,545 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €8,918 | €6,127 | -€2,791 | -31.3% |
| Taxes | 450/3 | €7,632 | €6,127 | -€1,505 | -19.7% |
| Remuneration and social security | 454/9 | €1,286 | - | -€1,286 | |
| Remuneration, social security and pensions | 62 | €141,802 | €130,477 | -€11,325 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,917 | €18,825 | -€3,092 | -14.1% |
| Other operating charges | 640/8 | €1,707 | €1,034 | -€673 | -39.4% |
| Non-recurring operating charges | 66A | €5,576 | - | -€5,576 | |
| Gross operating margin | 9900 | €198,056 | €137,090 | -€60,966 | -30.8% |
| Operating profit (loss) | 9901 | €27,055 | -€13,246 | -€40,301 | |
| Financial charges | 65/66B | €2,725 | €2,270 | -€455 | -16.7% |
| Recurring financial charges | 65 | €2,725 | €2,270 | -€455 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €24,330 | -€15,515 | -€39,845 | |
| Income taxes | 67/77 | €5,832 | €137 | -€5,695 | -97.7% |
| Profit (loss) for the period | 9904 | €18,498 | -€15,652 | -€34,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,498 | -€15,652 | -€34,150 |
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 9 October 2026 via checked.be.