COLLAGE: 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.
COLLAGE
Largest movements
- Receivables within one year -€4,306
down €4,306 (-30.3%), from €14,213 to €9,906
- Profit (loss) carried forward -€2,118
down €2,118 (-4.8%), from -€43,852 to -€45,970
- Other debts -€1,635
no longer reported in 2025 (was €1,635)
- Trade debts -€372
down €372 (-48.2%), from €772 to €400
- Short-term financial debts -€181
down €181 (-92.6%), from €196 to €14
- Other operating charges -€7,824
down €7,824 (-95.1%), from €8,224 to €400
- Gross operating margin -€3,430
down €3,430, from €1,614 to -€1,816
- Financial income +€223
up €223 (+51.8%), from €431 to €654
- Financial charges +€43
up €43 (+8.5%), from €513 to €556
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 | €14,238 | €9,932 | -€4,306 | -30.2% |
| Current assets | 29/58 | €14,238 | €9,932 | -€4,306 | -30.2% |
| Amounts receivable within one year | 40/41 | €14,213 | €9,906 | -€4,306 | -30.3% |
| Other amounts receivable | 41 | €14,213 | €9,906 | -€4,306 | -30.3% |
| Cash at bank and in hand | 54/58 | €26 | €26 | = | 0.0% |
| Total equity and liabilities | 10/49 | €14,238 | €9,932 | -€4,306 | -30.2% |
| Equity | 10/15 | €11,636 | €9,518 | -€2,118 | -18.2% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Capital | 10 | €30,987 | €30,987 | = | 0.0% |
| Issued capital | 100 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €24,501 | €24,501 | = | 0.0% |
| Distributable reserves | 133 | €24,501 | €24,501 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,852 | -€45,970 | -€2,118 | -4.8% |
| Amounts payable | 17/49 | €2,603 | €414 | -€2,188 | -84.1% |
| Amounts payable within one year | 42/48 | €2,603 | €414 | -€2,188 | -84.1% |
| Financial debts | 43 | €196 | €14 | -€181 | -92.6% |
| Credit institutions | 430/8 | €196 | €14 | -€181 | -92.6% |
| Trade debts | 44 | €772 | €400 | -€372 | -48.2% |
| Suppliers | 440/4 | €772 | €400 | -€372 | -48.2% |
| Other amounts payable | 47/48 | €1,635 | - | -€1,635 | |
| Other operating charges | 640/8 | €8,224 | €400 | -€7,824 | -95.1% |
| Gross operating margin | 9900 | €1,614 | -€1,816 | -€3,430 | |
| Operating profit (loss) | 9901 | -€6,609 | -€2,215 | +€4,394 | +66.5% |
| Financial income | 75/76B | €431 | €654 | +€223 | +51.8% |
| Recurring financial income | 75 | €431 | €654 | +€223 | +51.8% |
| Financial charges | 65/66B | €513 | €556 | +€43 | +8.5% |
| Recurring financial charges | 65 | €513 | €556 | +€43 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,692 | -€2,118 | +€4,574 | +68.3% |
| Profit (loss) for the period | 9904 | -€6,692 | -€2,118 | +€4,574 | +68.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,692 | -€2,118 | +€4,574 | +68.3% |
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 29 September 2026 via checked.be.