COMMUNICATION KEY: 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.
COMMUNICATION KEY
Largest movements
- Cash -€31,311
down €31,311 (-12.7%), from €247,230 to €215,918
mainly Other debts (-€24,037) and Investment in fixed assets (net) (-€6,964)
- Tangible fixed assets -€7,871
down €7,871 (-7.0%), from €111,719 to €103,848
of which Other tangible fixed assets: -€5,551
- Receivables within one year +€4,086
up €4,086 (+88.1%), from €4,638 to €8,724
of which Trade receivables: +€3,205
- Other debts -€24,037
down €24,037 (-60.0%), from €40,093 to €16,056
- Reserves -€6,670
down €6,670 (-2.2%), from €309,717 to €303,047
- Tax, wage and social debts -€5,341
down €5,341 (-85.8%), from €6,224 to €883
- Gross operating margin -€26,491
down €26,491 (-63.9%), from €41,477 to €14,985
- Taxes -€3,349
down €3,349 (-79.1%), from €4,233 to €883
- Depreciation -€2,153
down €2,153 (-12.7%), from €16,987 to €14,835
- Financial income +€1,185
up €1,185 (+1453.0%), from €82 to €1,267
- Other operating charges +€490
up €490 (+42.3%), from €1,157 to €1,647
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 | €363,827 | €328,927 | -€34,899 | -9.6% |
| Fixed assets | 21/28 | €111,719 | €103,848 | -€7,871 | -7.0% |
| Tangible fixed assets | 22/27 | €111,719 | €103,848 | -€7,871 | -7.0% |
| Land and buildings | 22 | €66,965 | €62,380 | -€4,585 | -6.8% |
| Plant, machinery and equipment | 23 | €1,538 | €1,019 | -€518 | -33.7% |
| Furniture and vehicles | 24 | €11,618 | €14,402 | +€2,784 | +24.0% |
| Other tangible fixed assets | 26 | €31,598 | €26,047 | -€5,551 | -17.6% |
| Current assets | 29/58 | €252,108 | €225,079 | -€27,028 | -10.7% |
| Amounts receivable within one year | 40/41 | €4,638 | €8,724 | +€4,086 | +88.1% |
| Trade receivables | 40 | €2,163 | €5,367 | +€3,205 | +148.2% |
| Other amounts receivable | 41 | €2,475 | €3,356 | +€881 | +35.6% |
| Cash at bank and in hand | 54/58 | €247,230 | €215,918 | -€31,311 | -12.7% |
| Deferred charges and accrued income | 490/1 | €241 | €437 | +€197 | +81.8% |
| Total equity and liabilities | 10/49 | €363,827 | €328,927 | -€34,899 | -9.6% |
| Equity | 10/15 | €315,917 | €307,087 | -€8,830 | -2.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €309,717 | €303,047 | -€6,670 | -2.2% |
| Distributable reserves | 133 | €309,717 | €303,047 | -€6,670 | -2.2% |
| Profit (loss) carried forward | 14 | - | -€2,160 | -€2,160 | |
| Amounts payable | 17/49 | €47,910 | €21,840 | -€26,069 | -54.4% |
| Amounts payable within one year | 42/48 | €47,910 | €21,840 | -€26,069 | -54.4% |
| Trade debts | 44 | €1,592 | €4,901 | +€3,308 | +207.8% |
| Suppliers | 440/4 | €1,592 | €4,901 | +€3,308 | +207.8% |
| Taxes, remuneration and social security | 45 | €6,224 | €883 | -€5,341 | -85.8% |
| Taxes | 450/3 | €6,224 | €883 | -€5,341 | -85.8% |
| Other amounts payable | 47/48 | €40,093 | €16,056 | -€24,037 | -60.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,987 | €14,835 | -€2,153 | -12.7% |
| Other operating charges | 640/8 | €1,157 | €1,647 | +€490 | +42.3% |
| Non-recurring operating charges | 66A | - | €886 | +€886 | |
| Gross operating margin | 9900 | €41,477 | €14,985 | -€26,491 | -63.9% |
| Operating profit (loss) | 9901 | €23,332 | -€2,382 | -€25,714 | |
| Financial income | 75/76B | €82 | €1,267 | +€1,185 | +1453.0% |
| Recurring financial income | 75 | €82 | €1,267 | +€1,185 | +1453.0% |
| Financial charges | 65/66B | €186 | €162 | -€24 | -12.8% |
| Recurring financial charges | 65 | €186 | €162 | -€24 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €23,228 | -€1,277 | -€24,505 | |
| Income taxes | 67/77 | €4,233 | €883 | -€3,349 | -79.1% |
| Profit (loss) for the period | 9904 | €18,995 | -€2,160 | -€21,155 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,995 | -€2,160 | -€21,155 |
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.