CORE SYSTEMS: 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.
CORE SYSTEMS
Largest movements
- Cash -€26,054
down €26,054 (-55.3%), from €47,074 to €21,020
mainly Other debts (-€18,187) and Net result for the year (-€12,276)
- Receivables within one year -€14,261
down €14,261 (-35.5%), from €40,151 to €25,891
of which Other amounts receivable: -€12,039
- Tangible fixed assets +€9,430
up €9,430 (+222.5%), from €4,238 to €13,668
- Other debts -€18,187
down €18,187 (-55.6%), from €32,736 to €14,549
- Profit (loss) carried forward -€12,276
down €12,276 (-4.6%), from -€265,410 to -€277,686
- Gross operating margin +€7,820
up €7,820 (+46.1%), from -€16,962 to -€9,142
- Financial charges -€1,036
down €1,036 (-60.1%), from €1,723 to €687
- Depreciation +€626
up €626 (+46.7%), from €1,341 to €1,966
- Other operating charges -€336
down €336 (-41.1%), from €817 to €481
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 | €93,591 | €62,280 | -€31,311 | -33.5% |
| Fixed assets | 21/28 | €4,238 | €13,668 | +€9,430 | +222.5% |
| Tangible fixed assets | 22/27 | €4,238 | €13,668 | +€9,430 | +222.5% |
| Furniture and vehicles | 24 | €4,238 | €13,668 | +€9,430 | +222.5% |
| Current assets | 29/58 | €89,352 | €48,612 | -€40,740 | -45.6% |
| Amounts receivable within one year | 40/41 | €40,151 | €25,891 | -€14,261 | -35.5% |
| Trade receivables | 40 | €3,570 | €1,349 | -€2,222 | -62.2% |
| Other amounts receivable | 41 | €36,581 | €24,542 | -€12,039 | -32.9% |
| Cash at bank and in hand | 54/58 | €47,074 | €21,020 | -€26,054 | -55.3% |
| Deferred charges and accrued income | 490/1 | €2,127 | €1,701 | -€426 | -20.0% |
| Total equity and liabilities | 10/49 | €93,591 | €62,280 | -€31,311 | -33.5% |
| Equity | 10/15 | €14,950 | €2,674 | -€12,276 | -82.1% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Capital | 10 | €6,500 | €6,500 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,100 | €12,100 | = | 0.0% |
| Reserves | 13 | €273,860 | €273,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €272,000 | €272,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€265,410 | -€277,686 | -€12,276 | -4.6% |
| Amounts payable | 17/49 | €78,641 | €59,606 | -€19,035 | -24.2% |
| Amounts payable within one year | 42/48 | €78,641 | €59,606 | -€19,035 | -24.2% |
| Financial debts | 43 | €45,000 | €45,000 | = | 0.0% |
| Other loans | 439 | €45,000 | €45,000 | = | 0.0% |
| Trade debts | 44 | €628 | €57 | -€571 | -90.9% |
| Suppliers | 440/4 | €628 | €57 | -€571 | -90.9% |
| Taxes, remuneration and social security | 45 | €276 | - | -€276 | |
| Taxes | 450/3 | €32 | - | -€32 | |
| Remuneration and social security | 454/9 | €244 | - | -€244 | |
| Other amounts payable | 47/48 | €32,736 | €14,549 | -€18,187 | -55.6% |
| Non-recurring operating income | 76A | €5,728 | - | -€5,728 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,341 | €1,966 | +€626 | +46.7% |
| Other operating charges | 640/8 | €817 | €481 | -€336 | -41.1% |
| Gross operating margin | 9900 | -€16,962 | -€9,142 | +€7,820 | +46.1% |
| Operating profit (loss) | 9901 | -€19,120 | -€11,589 | +€7,530 | +39.4% |
| Financial charges | 65/66B | €1,723 | €687 | -€1,036 | -60.1% |
| Recurring financial charges | 65 | €1,723 | €687 | -€1,036 | -60.1% |
| Profit (loss) for the period before taxes | 9903 | -€20,843 | -€12,276 | +€8,566 | +41.1% |
| Profit (loss) for the period | 9904 | -€20,843 | -€12,276 | +€8,566 | +41.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,843 | -€12,276 | +€8,566 | +41.1% |
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 7 October 2026 via checked.be.