Collective Value: 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.
Collective Value
Largest movements
- Cash -€47,259
down €47,259 (-54.8%), from €86,268 to €39,009
mainly Contributions, distributions and other (-€123,262) and Tax, wage and social debts (-€21,752)
- Receivables within one year -€16,743
down €16,743 (-35.4%), from €47,316 to €30,573
of which Trade receivables: -€16,335
- Tangible fixed assets +€4,472
up €4,472 (+117.8%), from €3,797 to €8,269
- Profit (loss) carried forward -€84,073
no longer reported in 2025 (was €84,073)
- Other debts +€46,444
up €46,444 (+649.7%), from €7,149 to €53,593
- Tax, wage and social debts -€21,752
down €21,752 (-75.9%), from €28,658 to €6,907
- Gross operating margin -€18,991
down €18,991 (-24.9%), from €76,363 to €57,372
- Taxes -€4,497
down €4,497 (-23.8%), from €18,914 to €14,417
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 | €137,451 | €79,138 | -€58,313 | -42.4% |
| Fixed assets | 21/28 | €3,797 | €8,269 | +€4,472 | +117.8% |
| Tangible fixed assets | 22/27 | €3,797 | €8,269 | +€4,472 | +117.8% |
| Furniture and vehicles | 24 | €3,797 | €8,269 | +€4,472 | +117.8% |
| Current assets | 29/58 | €133,654 | €70,869 | -€62,785 | -47.0% |
| Amounts receivable within one year | 40/41 | €47,316 | €30,573 | -€16,743 | -35.4% |
| Trade receivables | 40 | €46,908 | €30,573 | -€16,335 | -34.8% |
| Other amounts receivable | 41 | €408 | - | -€408 | |
| Cash at bank and in hand | 54/58 | €86,268 | €39,009 | -€47,259 | -54.8% |
| Deferred charges and accrued income | 490/1 | €69 | €1,287 | +€1,218 | +1757.0% |
| Total equity and liabilities | 10/49 | €137,451 | €79,138 | -€58,313 | -42.4% |
| Equity | 10/15 | €86,073 | €2,000 | -€84,073 | -97.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,073 | - | -€84,073 | |
| Amounts payable | 17/49 | €51,378 | €77,138 | +€25,760 | +50.1% |
| Amounts payable within one year | 42/48 | €51,378 | €77,138 | +€25,760 | +50.1% |
| Financial debts | 43 | €221 | €1,312 | +€1,091 | +494.2% |
| Credit institutions | 430/8 | €221 | €1,312 | +€1,091 | +494.2% |
| Trade debts | 44 | €15,350 | €15,327 | -€23 | -0.2% |
| Suppliers | 440/4 | €15,350 | €15,327 | -€23 | -0.2% |
| Taxes, remuneration and social security | 45 | €28,658 | €6,907 | -€21,752 | -75.9% |
| Taxes | 450/3 | €28,658 | €6,907 | -€21,752 | -75.9% |
| Other amounts payable | 47/48 | €7,149 | €53,593 | +€46,444 | +649.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,931 | €2,473 | +€542 | +28.1% |
| Other operating charges | 640/8 | €1,127 | €758 | -€369 | -32.7% |
| Gross operating margin | 9900 | €76,363 | €57,372 | -€18,991 | -24.9% |
| Operating profit (loss) | 9901 | €73,305 | €54,141 | -€19,165 | -26.1% |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €645 | €534 | -€111 | -17.2% |
| Recurring financial charges | 65 | €645 | €534 | -€111 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €72,670 | €53,606 | -€19,064 | -26.2% |
| Income taxes | 67/77 | €18,914 | €14,417 | -€4,497 | -23.8% |
| Profit (loss) for the period | 9904 | €53,756 | €39,189 | -€14,567 | -27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €53,756 | €39,189 | -€14,567 | -27.1% |
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 4 October 2026 via checked.be.