CUT THE CRAP: 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.
CUT THE CRAP
Largest movements
- Cash +€26,508
up €26,508 (+63.5%), from €41,727 to €68,235
mainly Other debts (+€28,734) and Net result for the year (+€14,103)
- Receivables within one year -€11,945
down €11,945 (-62.8%), from €19,017 to €7,072
of which Trade receivables: -€9,909
- Tangible fixed assets -€6,368
down €6,368 (-12.8%), from €49,725 to €43,357
of which Furniture and vehicles: -€6,706
- Other debts +€28,734
up €28,734 (+575.4%), from €4,994 to €33,727
- Reserves -€21,276
down €21,276 (-31.0%), from €68,547 to €47,271
- Tax, wage and social debts +€1,471
up €1,471 (+12.2%), from €12,081 to €13,552
of which Taxes: +€3,618
- Gross operating margin -€13,572
down €13,572 (-29.1%), from €46,640 to €33,068
- Taxes -€7,524
down €7,524 (-52.4%), from €14,352 to €6,828
- Depreciation +€7,254
up €7,254 (+164.0%), from €4,423 to €11,676
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 | €110,972 | €119,209 | +€8,237 | +7.4% |
| Fixed assets | 21/28 | €49,725 | €43,357 | -€6,368 | -12.8% |
| Tangible fixed assets | 22/27 | €49,725 | €43,357 | -€6,368 | -12.8% |
| Plant, machinery and equipment | 23 | €4,120 | €4,458 | +€338 | +8.2% |
| Furniture and vehicles | 24 | €45,605 | €38,899 | -€6,706 | -14.7% |
| Current assets | 29/58 | €61,247 | €75,852 | +€14,605 | +23.8% |
| Amounts receivable within one year | 40/41 | €19,017 | €7,072 | -€11,945 | -62.8% |
| Trade receivables | 40 | €15,717 | €5,808 | -€9,909 | -63.0% |
| Other amounts receivable | 41 | €3,299 | €1,264 | -€2,036 | -61.7% |
| Cash at bank and in hand | 54/58 | €41,727 | €68,235 | +€26,508 | +63.5% |
| Deferred charges and accrued income | 490/1 | €504 | €546 | +€42 | +8.4% |
| Total equity and liabilities | 10/49 | €110,972 | €119,209 | +€8,237 | +7.4% |
| Equity | 10/15 | €71,603 | €50,327 | -€21,276 | -29.7% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Outside capital | 11 | €1,200 | €1,200 | = | 0.0% |
| Other | 1109/19 | €1,200 | €1,200 | = | 0.0% |
| Reserves | 13 | €68,547 | €47,271 | -€21,276 | -31.0% |
| Distributable reserves | 133 | €68,547 | €47,271 | -€21,276 | -31.0% |
| Profit (loss) carried forward | 14 | €1,856 | €1,856 | = | 0.0% |
| Provisions and deferred taxes | 16 | €21,284 | €21,284 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €21,284 | €21,284 | = | 0.0% |
| Pensions and similar obligations | 160 | €21,284 | €21,284 | = | 0.0% |
| Amounts payable | 17/49 | €18,085 | €47,598 | +€29,513 | +163.2% |
| Amounts payable within one year | 42/48 | €17,935 | €47,399 | +€29,463 | +164.3% |
| Trade debts | 44 | €861 | €119 | -€742 | -86.2% |
| Suppliers | 440/4 | €861 | €119 | -€742 | -86.2% |
| Taxes, remuneration and social security | 45 | €12,081 | €13,552 | +€1,471 | +12.2% |
| Taxes | 450/3 | €9,934 | €13,552 | +€3,618 | +36.4% |
| Remuneration and social security | 454/9 | €2,147 | - | -€2,147 | |
| Other amounts payable | 47/48 | €4,994 | €33,727 | +€28,734 | +575.4% |
| Accrued charges and deferred income | 492/3 | €150 | €200 | +€50 | +33.2% |
| Non-recurring operating income | 76A | €8,005 | - | -€8,005 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,423 | €11,676 | +€7,254 | +164.0% |
| Other operating charges | 640/8 | €920 | €465 | -€454 | -49.4% |
| Gross operating margin | 9900 | €46,640 | €33,068 | -€13,572 | -29.1% |
| Operating profit (loss) | 9901 | €41,297 | €20,926 | -€20,371 | -49.3% |
| Financial income | 75/76B | €199 | €308 | +€109 | +55.1% |
| Recurring financial income | 75 | €199 | €308 | +€109 | +55.1% |
| Financial charges | 65/66B | €301 | €304 | +€3 | +0.9% |
| Recurring financial charges | 65 | €301 | €304 | +€3 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €41,195 | €20,931 | -€20,264 | -49.2% |
| Income taxes | 67/77 | €14,352 | €6,828 | -€7,524 | -52.4% |
| Profit (loss) for the period | 9904 | €26,843 | €14,103 | -€12,740 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,843 | €14,103 | -€12,740 | -47.5% |
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.