COMMERCIAL IMPACT: 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.
COMMERCIAL IMPACT
Largest movements
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Cash +€26,638
up €26,638 (+14.6%), from €182,424 to €209,062
mainly Current investments (+€100,000) and Net result for the year (+€43,703)
- Deferred charges and accrued income -€13,613
down €13,613 (-100%), from €13,613 to €0
- Reserves -€45,687
down €45,687 (-20.1%), from €227,169 to €181,482
of which Distributable reserves: -€43,827
- Tax, wage and social debts -€22,524
down €22,524 (-69.6%), from €32,357 to €9,833
- Trade debts -€17,371
down €17,371 (-99.8%), from €17,398 to €27
- Gross operating margin -€20,419
down €20,419 (-24.6%), from €83,161 to €62,743
- Taxes -€5,687
down €5,687 (-25.3%), from €22,439 to €16,752
- Financial income -€1,163
down €1,163 (-26.4%), from €4,401 to €3,238
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 | €315,252 | €231,594 | -€83,658 | -26.5% |
| Fixed assets | 21/28 | €6,139 | €6,672 | +€533 | +8.7% |
| Tangible fixed assets | 22/27 | €5,889 | €6,422 | +€533 | +9.1% |
| Plant, machinery and equipment | 23 | €1,893 | €1,468 | -€425 | -22.4% |
| Furniture and vehicles | 24 | €1,516 | €3,191 | +€1,675 | +110% |
| Other tangible fixed assets | 26 | €2,479 | €1,763 | -€716 | -28.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €309,113 | €224,922 | -€84,191 | -27.2% |
| Amounts receivable within one year | 40/41 | €13,076 | €15,861 | +€2,785 | +21.3% |
| Trade receivables | 40 | €8,701 | €15,482 | +€6,781 | +77.9% |
| Other amounts receivable | 41 | €4,376 | €379 | -€3,997 | -91.3% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €182,424 | €209,062 | +€26,638 | +14.6% |
| Deferred charges and accrued income | 490/1 | €13,613 | €0 | -€13,613 | -100% |
| Total equity and liabilities | 10/49 | €315,252 | €231,594 | -€83,658 | -26.5% |
| Equity | 10/15 | €233,618 | €187,931 | -€45,687 | -19.6% |
| Contributions | 10/11 | €6,240 | €6,240 | = | 0.0% |
| Reserves | 13 | €227,169 | €181,482 | -€45,687 | -20.1% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €225,309 | €181,482 | -€43,827 | -19.5% |
| Profit (loss) carried forward | 14 | €209 | €209 | = | 0.0% |
| Amounts payable | 17/49 | €81,634 | €43,663 | -€37,971 | -46.5% |
| Amounts payable within one year | 42/48 | €81,323 | €41,428 | -€39,895 | -49.1% |
| Trade debts | 44 | €17,398 | €27 | -€17,371 | -99.8% |
| Suppliers | 440/4 | €17,398 | €27 | -€17,371 | -99.8% |
| Taxes, remuneration and social security | 45 | €32,357 | €9,833 | -€22,524 | -69.6% |
| Taxes | 450/3 | €32,357 | €9,833 | -€22,524 | -69.6% |
| Other amounts payable | 47/48 | €31,569 | €31,569 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €311 | €2,235 | +€1,924 | +619% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,617 | €1,832 | +€215 | +13.3% |
| Other operating charges | 640/8 | €917 | €462 | -€455 | -49.6% |
| Gross operating margin | 9900 | €83,161 | €62,743 | -€20,419 | -24.6% |
| Operating profit (loss) | 9901 | €80,627 | €60,449 | -€20,178 | -25.0% |
| Financial income | 75/76B | €4,401 | €3,238 | -€1,163 | -26.4% |
| Recurring financial income | 75 | €4,401 | €3,238 | -€1,163 | -26.4% |
| Financial charges | 65/66B | €3,715 | €3,231 | -€484 | -13.0% |
| Recurring financial charges | 65 | €3,715 | €3,231 | -€484 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €81,313 | €60,456 | -€20,857 | -25.7% |
| Income taxes | 67/77 | €22,439 | €16,752 | -€5,687 | -25.3% |
| Profit (loss) for the period | 9904 | €58,874 | €43,703 | -€15,170 | -25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €58,874 | €43,703 | -€15,170 | -25.8% |
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 21 October 2026 via checked.be.