CODE & GRAFIX: 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 & GRAFIX
Largest movements
- Cash -€30,013
down €30,013 (-35.9%), from €83,698 to €53,686
mainly Contributions, distributions and other (-€43,832) and Other debts (-€29,443)
- Tangible fixed assets -€2,762
down €2,762 (-42.9%), from €6,432 to €3,671
- Receivables within one year +€2,496
up €2,496 (+13.4%), from €18,604 to €21,100
of which Trade receivables: +€2,452
- Other debts -€29,443
down €29,443 (-38.3%), from €76,968 to €47,525
- Trade debts -€1,906
down €1,906 (-43.7%), from €4,362 to €2,456
- Gross operating margin +€17,814
up €17,814 (+42.2%), from €42,210 to €60,023
- Taxes +€3,053
up €3,053 (+35.7%), from €8,543 to €11,596
- Financial charges +€935
up €935 (+730%), from €128 to €1,063
- Depreciation +€629
up €629 (+29.5%), from €2,132 to €2,762
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 | €113,457 | €83,168 | -€30,289 | -26.7% |
| Fixed assets | 21/28 | €6,707 | €3,946 | -€2,762 | -41.2% |
| Tangible fixed assets | 22/27 | €6,432 | €3,671 | -€2,762 | -42.9% |
| Furniture and vehicles | 24 | €6,432 | €3,671 | -€2,762 | -42.9% |
| Financial fixed assets | 28 | €275 | €275 | = | 0.0% |
| Current assets | 29/58 | €106,750 | €79,223 | -€27,527 | -25.8% |
| Amounts receivable within one year | 40/41 | €18,604 | €21,100 | +€2,496 | +13.4% |
| Trade receivables | 40 | €15,604 | €18,056 | +€2,452 | +15.7% |
| Other amounts receivable | 41 | €3,000 | €3,044 | +€44 | +1.5% |
| Cash at bank and in hand | 54/58 | €83,698 | €53,686 | -€30,013 | -35.9% |
| Deferred charges and accrued income | 490/1 | €4,448 | €4,438 | -€10 | -0.2% |
| Total equity and liabilities | 10/49 | €113,457 | €83,168 | -€30,289 | -26.7% |
| Equity | 10/15 | €21,879 | €21,879 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €20,879 | €20,879 | = | 0.0% |
| Distributable reserves | 133 | €20,879 | €20,879 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €91,578 | €61,289 | -€30,289 | -33.1% |
| Amounts payable within one year | 42/48 | €91,578 | €61,289 | -€30,289 | -33.1% |
| Trade debts | 44 | €4,362 | €2,456 | -€1,906 | -43.7% |
| Suppliers | 440/4 | €4,362 | €2,456 | -€1,906 | -43.7% |
| Taxes, remuneration and social security | 45 | €10,248 | €11,308 | +€1,060 | +10.3% |
| Taxes | 450/3 | €6,959 | €8,001 | +€1,042 | +15.0% |
| Remuneration and social security | 454/9 | €3,289 | €3,307 | +€18 | +0.5% |
| Other amounts payable | 47/48 | €76,968 | €47,525 | -€29,443 | -38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,132 | €2,762 | +€629 | +29.5% |
| Other operating charges | 640/8 | €801 | €771 | -€30 | -3.8% |
| Gross operating margin | 9900 | €42,210 | €60,023 | +€17,814 | +42.2% |
| Operating profit (loss) | 9901 | €39,276 | €56,491 | +€17,215 | +43.8% |
| Financial income | 75/76B | €34 | €1 | -€33 | -97.5% |
| Recurring financial income | 75 | €34 | €1 | -€33 | -97.5% |
| Financial charges | 65/66B | €128 | €1,063 | +€935 | +730% |
| Recurring financial charges | 65 | €128 | €1,063 | +€935 | +730% |
| Profit (loss) for the period before taxes | 9903 | €39,182 | €55,428 | +€16,247 | +41.5% |
| Income taxes | 67/77 | €8,543 | €11,596 | +€3,053 | +35.7% |
| Profit (loss) for the period | 9904 | €30,638 | €43,832 | +€13,194 | +43.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,638 | €43,832 | +€13,194 | +43.1% |
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 14 October 2026 via checked.be.