CONCEPT-F: 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.
CONCEPT-F
Largest movements
- Receivables within one year -€17,424
down €17,424 (-99.1%), from €17,574 to €151
of which Trade receivables: -€17,563
- Debts after one year +€53,395
up €53,395 (+15.2%), from €351,411 to €404,806
- Reserves -€39,718
down €39,718 (-18.3%), from €217,163 to €177,445
- Profit (loss) carried forward -€19,671
down €19,671 (-82.1%), from -€23,961 to -€43,632
- Tax, wage and social debts -€12,455
down €12,455 (-100%), from €12,455 to €0
- Financial charges -€3,547
down €3,547 (-18.6%), from €19,032 to €15,485
- Gross operating margin +€835
up €835 (+27.6%), from -€3,020 to -€2,186
- Other operating charges +€71
up €71 (+6.2%), from €1,152 to €1,223
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 | €567,577 | €549,128 | -€18,449 | -3.3% |
| Formation expenses | 20 | €1,026 | €565 | -€462 | -45.0% |
| Fixed assets | 21/28 | €677 | €361 | -€317 | -46.8% |
| Intangible fixed assets | 21 | €342 | €179 | -€164 | -47.8% |
| Tangible fixed assets | 22/27 | €335 | €182 | -€153 | -45.7% |
| Furniture and vehicles | 24 | €335 | €182 | -€153 | -45.7% |
| Current assets | 29/58 | €565,874 | €548,203 | -€17,671 | -3.1% |
| Stocks and contracts in progress | 3 | €547,559 | €547,559 | = | 0.0% |
| Stocks | 30/36 | €547,559 | €547,559 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,574 | €151 | -€17,424 | -99.1% |
| Trade receivables | 40 | €17,563 | €0 | -€17,563 | -100% |
| Other amounts receivable | 41 | €11 | €151 | +€140 | +1,267% |
| Cash at bank and in hand | 54/58 | €741 | €494 | -€247 | -33.4% |
| Total equity and liabilities | 10/49 | €567,577 | €549,128 | -€18,449 | -3.3% |
| Equity | 10/15 | €203,202 | €143,813 | -€59,389 | -29.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €217,163 | €177,445 | -€39,718 | -18.3% |
| Distributable reserves | 133 | €217,163 | €177,445 | -€39,718 | -18.3% |
| Profit (loss) carried forward | 14 | -€23,961 | -€43,632 | -€19,671 | -82.1% |
| Amounts payable | 17/49 | €364,375 | €405,315 | +€40,940 | +11.2% |
| Amounts payable after more than one year | 17 | €351,411 | €404,806 | +€53,395 | +15.2% |
| Financial debts | 170/4 | €351,411 | €404,806 | +€53,395 | +15.2% |
| Amounts payable within one year | 42/48 | €12,964 | €510 | -€12,455 | -96.1% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €12,455 | €0 | -€12,455 | -100% |
| Taxes | 450/3 | €12,455 | €0 | -€12,455 | -100% |
| Other amounts payable | 47/48 | €510 | €510 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €778 | €778 | = | 0.0% |
| Other operating charges | 640/8 | €1,152 | €1,223 | +€71 | +6.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€3,020 | -€2,186 | +€835 | +27.6% |
| Operating profit (loss) | 9901 | -€4,950 | -€4,187 | +€764 | +15.4% |
| Financial income | 75/76B | €22 | €0 | -€22 | -100.0% |
| Recurring financial income | 75 | €22 | €0 | -€22 | -100.0% |
| Financial charges | 65/66B | €19,032 | €15,485 | -€3,547 | -18.6% |
| Recurring financial charges | 65 | €19,032 | €15,485 | -€3,547 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | -€23,961 | -€19,671 | +€4,289 | +17.9% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€23,961 | -€19,671 | +€4,289 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,961 | -€19,671 | +€4,289 | +17.9% |
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 20 October 2026 via checked.be.