Convolve: 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.
Convolve
Largest movements
- Receivables within one year -€136,414
down €136,414 (-29.2%), from €466,545 to €330,132
of which Other amounts receivable: -€98,197
- Cash -€23,478
down €23,478 (-83.5%), from €28,127 to €4,649
mainly Contributions, distributions and other (-€150,000) and Tax, wage and social debts (-€36,197)
- Tangible fixed assets -€7,420
down €7,420 (-75.7%), from €9,798 to €2,379
of which Plant, machinery and equipment: -€7,062
- Reserves -€142,900
down €142,900 (-61.3%), from €233,200 to €90,300
of which Distributable reserves: -€142,900
- Tax, wage and social debts -€36,197
down €36,197 (-45.3%), from €79,850 to €43,653
of which Taxes: -€23,931
- Trade debts +€26,897
up €26,897 (+27.7%), from €97,276 to €124,172
- Accrued charges and deferred income -€17,150
down €17,150 (-49.0%), from €35,000 to €17,850
- Turnover -€1.2m
down €1.2m (-65.7%), from €1.8m to €624,414
- Purchases and services -€705,470
down €705,470 (-58.6%), from €1.2m to €498,289
- Gross operating margin -€496,065
down €496,065 (-79.4%), from €624,375 to €128,310
- Staff costs -€183,092
down €183,092 (-62.8%), from €291,439 to €108,347
- Taxes -€81,191
down €81,191 (-95.7%), from €84,876 to €3,686
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 | €507,453 | €338,062 | -€169,391 | -33.4% |
| Fixed assets | 21/28 | €9,798 | €2,379 | -€7,420 | -75.7% |
| Tangible fixed assets | 22/27 | €9,798 | €2,379 | -€7,420 | -75.7% |
| Plant, machinery and equipment | 23 | €8,958 | €1,897 | -€7,062 | -78.8% |
| Furniture and vehicles | 24 | €840 | €482 | -€358 | -42.6% |
| Current assets | 29/58 | €497,655 | €335,683 | -€161,971 | -32.5% |
| Amounts receivable within one year | 40/41 | €466,545 | €330,132 | -€136,414 | -29.2% |
| Trade receivables | 40 | €88,679 | €50,463 | -€38,216 | -43.1% |
| Other amounts receivable | 41 | €377,866 | €279,669 | -€98,197 | -26.0% |
| Cash at bank and in hand | 54/58 | €28,127 | €4,649 | -€23,478 | -83.5% |
| Deferred charges and accrued income | 490/1 | €2,983 | €903 | -€2,080 | -69.7% |
| Total equity and liabilities | 10/49 | €507,453 | €338,062 | -€169,391 | -33.4% |
| Equity | 10/15 | €295,327 | €152,386 | -€142,941 | -48.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €233,200 | €90,300 | -€142,900 | -61.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €227,000 | €84,100 | -€142,900 | -63.0% |
| Profit (loss) carried forward | 14 | €127 | €86 | -€41 | -32.0% |
| Amounts payable | 17/49 | €212,126 | €185,676 | -€26,450 | -12.5% |
| Amounts payable within one year | 42/48 | €177,126 | €167,826 | -€9,300 | -5.3% |
| Trade debts | 44 | €97,276 | €124,172 | +€26,897 | +27.7% |
| Suppliers | 440/4 | €97,276 | €124,172 | +€26,897 | +27.7% |
| Taxes, remuneration and social security | 45 | €79,850 | €43,653 | -€36,197 | -45.3% |
| Taxes | 450/3 | €62,984 | €39,053 | -€23,931 | -38.0% |
| Remuneration and social security | 454/9 | €16,866 | €4,600 | -€12,266 | -72.7% |
| Accrued charges and deferred income | 492/3 | €35,000 | €17,850 | -€17,150 | -49.0% |
| Turnover | 70 | €1,819,821 | €624,414 | -€1.2m | -65.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,203,760 | €498,289 | -€705,470 | -58.6% |
| Remuneration, social security and pensions | 62 | €291,439 | €108,347 | -€183,092 | -62.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,293 | €3,986 | -€3,306 | -45.3% |
| Other operating charges | 640/8 | €2,195 | €1,496 | -€699 | -31.9% |
| Non-recurring operating charges | 66A | - | €2,005 | +€2,005 | |
| Gross operating margin | 9900 | €624,375 | €128,310 | -€496,065 | -79.4% |
| Operating profit (loss) | 9901 | €323,449 | €12,475 | -€310,974 | -96.1% |
| Financial income | 75/76B | €1,172 | €4,863 | +€3,690 | +314.7% |
| Recurring financial income | 75 | €1,172 | €4,863 | +€3,690 | +314.7% |
| Financial charges | 65/66B | €6,418 | €6,593 | +€175 | +2.7% |
| Recurring financial charges | 65 | €6,418 | €6,593 | +€175 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €318,204 | €10,745 | -€307,459 | -96.6% |
| Income taxes | 67/77 | €84,876 | €3,686 | -€81,191 | -95.7% |
| Profit (loss) for the period | 9904 | €233,327 | €7,059 | -€226,268 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €233,327 | €7,059 | -€226,268 | -97.0% |
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.