Cutting Ends: 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.
Cutting Ends
Largest movements
- Tangible fixed assets -€20,070
down €20,070 (-53.9%), from €37,211 to €17,141
of which Plant, machinery and equipment: -€10,820
- Stocks and contracts -€1,918
down €1,918 (-22.2%), from €8,629 to €6,710
- Receivables within one year +€1,419
up €1,419 (+1,882%), from €75 to €1,494
of which Trade receivables: +€1,274
- Cash +€925
up €925 (+9.8%), from €9,422 to €10,346
mainly Depreciation (+€20,070) and Net result for the year (+€5,171)
- Other debts -€22,966
down €22,966 (-65.2%), from €35,230 to €12,264
- Reserves +€5,171
up €5,171 (+48.1%), from €10,758 to €15,929
- Tax, wage and social debts -€1,400
down €1,400 (-18.8%), from €7,455 to €6,055
- Depreciation +€6,321
up €6,321 (+46.0%), from €13,749 to €20,070
- Gross operating margin +€428
up €428 (+1.4%), from €30,045 to €30,473
- Other operating charges -€426
down €426 (-28.1%), from €1,514 to €1,088
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 | €55,337 | €36,014 | -€19,323 | -34.9% |
| Fixed assets | 21/28 | €37,211 | €17,141 | -€20,070 | -53.9% |
| Tangible fixed assets | 22/27 | €37,211 | €17,141 | -€20,070 | -53.9% |
| Plant, machinery and equipment | 23 | €25,098 | €14,277 | -€10,820 | -43.1% |
| Furniture and vehicles | 24 | €12,114 | €2,864 | -€9,250 | -76.4% |
| Current assets | 29/58 | €18,126 | €18,873 | +€747 | +4.1% |
| Stocks and contracts in progress | 3 | €8,629 | €6,710 | -€1,918 | -22.2% |
| Stocks | 30/36 | €8,629 | €6,710 | -€1,918 | -22.2% |
| Amounts receivable within one year | 40/41 | €75 | €1,494 | +€1,419 | +1,882% |
| Trade receivables | 40 | - | €1,274 | +€1,274 | |
| Other amounts receivable | 41 | €75 | €220 | +€145 | +192% |
| Cash at bank and in hand | 54/58 | €9,422 | €10,346 | +€925 | +9.8% |
| Deferred charges and accrued income | 490/1 | - | €322 | +€322 | |
| Total equity and liabilities | 10/49 | €55,337 | €36,014 | -€19,323 | -34.9% |
| Equity | 10/15 | €11,758 | €16,929 | +€5,171 | +44.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €10,758 | €15,929 | +€5,171 | +48.1% |
| Distributable reserves | 133 | €10,758 | €15,929 | +€5,171 | +48.1% |
| Amounts payable | 17/49 | €43,579 | €19,086 | -€24,493 | -56.2% |
| Amounts payable within one year | 42/48 | €43,579 | €19,086 | -€24,493 | -56.2% |
| Trade debts | 44 | €894 | €767 | -€127 | -14.2% |
| Suppliers | 440/4 | €894 | €767 | -€127 | -14.2% |
| Taxes, remuneration and social security | 45 | €7,455 | €6,055 | -€1,400 | -18.8% |
| Taxes | 450/3 | €7,455 | €6,055 | -€1,400 | -18.8% |
| Other amounts payable | 47/48 | €35,230 | €12,264 | -€22,966 | -65.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,749 | €20,070 | +€6,321 | +46.0% |
| Other operating charges | 640/8 | €1,514 | €1,088 | -€426 | -28.1% |
| Gross operating margin | 9900 | €30,045 | €30,473 | +€428 | +1.4% |
| Operating profit (loss) | 9901 | €14,782 | €9,315 | -€5,467 | -37.0% |
| Financial income | 75/76B | €2 | €0 | -€2 | -98.6% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -98.6% |
| Financial charges | 65/66B | €61 | €30 | -€31 | -50.4% |
| Recurring financial charges | 65 | €61 | €30 | -€31 | -50.4% |
| Profit (loss) for the period before taxes | 9903 | €14,723 | €9,285 | -€5,438 | -36.9% |
| Income taxes | 67/77 | €3,965 | €4,114 | +€149 | +3.8% |
| Profit (loss) for the period | 9904 | €10,758 | €5,171 | -€5,588 | -51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,758 | €5,171 | -€5,588 | -51.9% |
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 29 October 2026 via checked.be.