CODE ROUGE: 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 ROUGE
Largest movements
- Stocks and contracts -€4,575
down €4,575 (-35.3%), from €12,977 to €8,401
- Receivables within one year -€1,886
down €1,886 (-91.1%), from €2,070 to €184
of which Trade receivables: -€1,000
- Tangible fixed assets -€493
down €493 (-27.0%), from €1,822 to €1,329
of which Other tangible fixed assets: -€493
- Cash +€214
up €214 (+28.4%), from €753 to €967
mainly Stocks and contracts (+€4,575) and Net result for the year (+€2,866)
- Other debts -€8,620
down €8,620 (-15.1%), from €57,148 to €48,528
- Profit (loss) carried forward +€2,866
up €2,866 (+4.8%), from -€59,249 to -€56,382
- Trade debts -€985
down €985 (-86.2%), from €1,143 to €158
- Gross operating margin +€1,490
up €1,490 (+75.5%), from €1,974 to €3,464
- Other operating charges -€100
no longer reported in 2025 (was €100)
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 | €17,642 | €10,904 | -€6,739 | -38.2% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €1,822 | €1,329 | -€493 | -27.0% |
| Tangible fixed assets | 22/27 | €1,822 | €1,329 | -€493 | -27.0% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Other tangible fixed assets | 26 | €1,822 | €1,329 | -€493 | -27.0% |
| Current assets | 29/58 | €15,821 | €9,574 | -€6,246 | -39.5% |
| Stocks and contracts in progress | 3 | €12,977 | €8,401 | -€4,575 | -35.3% |
| Stocks | 30/36 | €12,977 | €8,401 | -€4,575 | -35.3% |
| Amounts receivable within one year | 40/41 | €2,070 | €184 | -€1,886 | -91.1% |
| Trade receivables | 40 | €1,000 | €0 | -€1,000 | -100.0% |
| Other amounts receivable | 41 | €1,070 | €184 | -€886 | -82.8% |
| Cash at bank and in hand | 54/58 | €753 | €967 | +€214 | +28.4% |
| Deferred charges and accrued income | 490/1 | €21 | €22 | +€1 | +3.0% |
| Total equity and liabilities | 10/49 | €17,642 | €10,904 | -€6,739 | -38.2% |
| Equity | 10/15 | -€40,649 | -€37,782 | +€2,866 | +7.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,249 | -€56,382 | +€2,866 | +4.8% |
| Amounts payable | 17/49 | €58,291 | €48,686 | -€9,605 | -16.5% |
| Amounts payable within one year | 42/48 | €58,291 | €48,686 | -€9,605 | -16.5% |
| Trade debts | 44 | €1,143 | €158 | -€985 | -86.2% |
| Suppliers | 440/4 | €1,143 | €158 | -€985 | -86.2% |
| Taxes, remuneration and social security | 45 | - | €0 | = | |
| Taxes | 450/3 | - | €0 | = | |
| Other amounts payable | 47/48 | €57,148 | €48,528 | -€8,620 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €493 | €493 | = | 0.0% |
| Other operating charges | 640/8 | €100 | - | -€100 | |
| Gross operating margin | 9900 | €1,974 | €3,464 | +€1,490 | +75.5% |
| Operating profit (loss) | 9901 | €1,381 | €2,972 | +€1,590 | +115.1% |
| Financial charges | 65/66B | €99 | €105 | +€6 | +6.2% |
| Recurring financial charges | 65 | €99 | €105 | +€6 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €1,282 | €2,866 | +€1,584 | +123.5% |
| Profit (loss) for the period | 9904 | €1,282 | €2,866 | +€1,584 | +123.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,282 | €2,866 | +€1,584 | +123.5% |
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 6 October 2026 via checked.be.