CUT !: 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.
CUT !
Largest movements
- Cash -€28,531
down €28,531 (-27.6%), from €103,434 to €74,903
mainly Net result for the year (-€20,043) and Receivables within one year (-€9,846)
- Receivables within one year +€9,846
up €9,846 (+360%), from €2,731 to €12,577
of which Other amounts receivable: +€8,191
- Profit (loss) carried forward -€20,043
down €20,043 (-24.7%), from -€81,001 to -€101,044
- Gross operating margin -€1,201
down €1,201 (-7.7%), from -€15,676 to -€16,877
- Taxes +€1,038
up €1,038 (+453%), from €229 to €1,268
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 | €451,715 | €433,672 | -€18,043 | -4.0% |
| Fixed assets | 21/28 | €336,557 | €337,198 | +€641 | +0.2% |
| Intangible fixed assets | 21 | €335,282 | €335,282 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,275 | €1,916 | +€641 | +50.3% |
| Furniture and vehicles | 24 | €1,275 | €1,916 | +€641 | +50.3% |
| Current assets | 29/58 | €115,158 | €96,474 | -€18,684 | -16.2% |
| Stocks and contracts in progress | 3 | €8,866 | €8,866 | = | 0.0% |
| Stocks | 30/36 | €8,866 | €8,866 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,731 | €12,577 | +€9,846 | +360% |
| Trade receivables | 40 | €148 | €1,803 | +€1,655 | +1,120% |
| Other amounts receivable | 41 | €2,583 | €10,774 | +€8,191 | +317% |
| Cash at bank and in hand | 54/58 | €103,434 | €74,903 | -€28,531 | -27.6% |
| Deferred charges and accrued income | 490/1 | €127 | €128 | +€2 | +1.2% |
| Total equity and liabilities | 10/49 | €451,715 | €433,672 | -€18,043 | -4.0% |
| Equity | 10/15 | -€66,741 | -€86,784 | -€20,043 | -30.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,001 | -€101,044 | -€20,043 | -24.7% |
| Amounts payable | 17/49 | €518,456 | €520,456 | +€2,000 | +0.4% |
| Amounts payable within one year | 42/48 | €518,456 | €520,456 | +€2,000 | +0.4% |
| Trade debts | 44 | €95 | €1,680 | +€1,585 | +1,666% |
| Suppliers | 440/4 | €95 | €1,680 | +€1,585 | +1,666% |
| Taxes, remuneration and social security | 45 | €222 | €222 | = | 0.0% |
| Taxes | 450/3 | €222 | €222 | = | 0.0% |
| Other amounts payable | 47/48 | €518,139 | €518,554 | +€415 | +0.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €667 | €759 | +€92 | +13.8% |
| Other operating charges | 640/8 | €899 | €928 | +€30 | +3.3% |
| Gross operating margin | 9900 | -€15,676 | -€16,877 | -€1,201 | -7.7% |
| Operating profit (loss) | 9901 | -€17,241 | -€18,563 | -€1,322 | -7.7% |
| Financial income | 75/76B | €23 | €25 | +€2 | +7.9% |
| Recurring financial income | 75 | €23 | €25 | +€2 | +7.9% |
| Financial charges | 65/66B | €246 | €237 | -€8 | -3.4% |
| Recurring financial charges | 65 | €246 | €237 | -€8 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | -€17,463 | -€18,775 | -€1,312 | -7.5% |
| Income taxes | 67/77 | €229 | €1,268 | +€1,038 | +453% |
| Profit (loss) for the period | 9904 | -€17,693 | -€20,043 | -€2,350 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,693 | -€20,043 | -€2,350 | -13.3% |
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 17 October 2026 via checked.be.