CONSERVATIVE REBELS: 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.
CONSERVATIVE REBELS
Largest movements
- Cash -€1.1m
down €1.1m (-88.5%), from €1.3m to €145,917
mainly Contributions, distributions and other (-€606,000) and Other debts (-€592,221)
- Receivables within one year +€42,478
up €42,478 (+112.2%), from €37,853 to €80,331
of which Trade receivables: +€42,554
- Other debts -€592,221
down €592,221 (-44.6%), from €1.3m to €734,577
- Reserves -€495,020
down €495,020 (-81.4%), from €607,860 to €112,840
of which Distributable reserves: -€495,020
- Financial income -€1.9m
down €1.9m (-99.5%), from €1.9m to €9,615
of which Non-recurring financial income: -€1.9m
- Gross operating margin +€69,787
up €69,787 (+96.1%), from €72,615 to €142,402
- Taxes +€16,440
up €16,440 (+76.9%), from €21,389 to €37,829
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 | €1,974,387 | €895,406 | -€1.1m | -54.6% |
| Fixed assets | 21/28 | €6,287 | €4,097 | -€2,189 | -34.8% |
| Tangible fixed assets | 22/27 | €6,287 | €4,097 | -€2,189 | -34.8% |
| Plant, machinery and equipment | 23 | €6,287 | €4,097 | -€2,189 | -34.8% |
| Current assets | 29/58 | €1,968,101 | €891,308 | -€1.1m | -54.7% |
| Amounts receivable after more than one year | 29 | €60,000 | €60,000 | = | 0.0% |
| Other amounts receivable | 291 | €60,000 | €60,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €37,853 | €80,331 | +€42,478 | +112.2% |
| Trade receivables | 40 | €37,777 | €80,331 | +€42,554 | +112.6% |
| Other amounts receivable | 41 | €76 | - | -€76 | |
| Cash at bank and in hand | 54/58 | €1,265,187 | €145,917 | -€1.1m | -88.5% |
| Deferred charges and accrued income | 490/1 | €605,061 | €605,061 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,974,387 | €895,406 | -€1.1m | -54.6% |
| Equity | 10/15 | €626,460 | €131,440 | -€495,020 | -79.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €607,860 | €112,840 | -€495,020 | -81.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €606,000 | €110,980 | -€495,020 | -81.7% |
| Amounts payable | 17/49 | €1,347,927 | €763,966 | -€583,962 | -43.3% |
| Amounts payable within one year | 42/48 | €1,347,927 | €763,966 | -€583,962 | -43.3% |
| Trade debts | 44 | €2,184 | €7,681 | +€5,497 | +251.8% |
| Suppliers | 440/4 | €2,184 | €7,681 | +€5,497 | +251.8% |
| Taxes, remuneration and social security | 45 | €18,946 | €21,708 | +€2,762 | +14.6% |
| Taxes | 450/3 | €18,946 | €21,708 | +€2,762 | +14.6% |
| Other amounts payable | 47/48 | €1,326,798 | €734,577 | -€592,221 | -44.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,363 | €2,189 | +€826 | +60.6% |
| Other operating charges | 640/8 | €447 | €893 | +€446 | +99.8% |
| Gross operating margin | 9900 | €72,615 | €142,402 | +€69,787 | +96.1% |
| Operating profit (loss) | 9901 | €70,805 | €139,320 | +€68,515 | +96.8% |
| Financial income | 75/76B | €1,883,650 | €9,615 | -€1.9m | -99.5% |
| Recurring financial income | 75 | €9,256 | €9,615 | +€359 | +3.9% |
| Non-recurring financial income | 76B | €1,874,394 | - | -€1.9m | |
| Financial charges | 65/66B | €268 | €126 | -€142 | -53.0% |
| Recurring financial charges | 65 | €268 | €126 | -€142 | -53.0% |
| Profit (loss) for the period before taxes | 9903 | €1,954,187 | €148,809 | -€1.8m | -92.4% |
| Income taxes | 67/77 | €21,389 | €37,829 | +€16,440 | +76.9% |
| Profit (loss) for the period | 9904 | €1,932,798 | €110,980 | -€1.8m | -94.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,932,798 | €110,980 | -€1.8m | -94.3% |
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 8 October 2026 via checked.be.