DE/ER: 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.
DE/ER
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€18,514
down €18,514, from €16,695 to -€1,819
- Financial charges -€8,410
down €8,410 (-53.5%), from €15,708 to €7,298
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 | €1,102,495 | €1,102,527 | +€32 | 0.0% |
| Current assets | 29/58 | €1,102,495 | €1,102,527 | +€32 | 0.0% |
| Stocks and contracts in progress | 3 | €1,102,447 | €1,102,447 | = | 0.0% |
| Stocks | 30/36 | €1,102,447 | €1,102,447 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €47 | €79 | +€32 | +67.2% |
| Total equity and liabilities | 10/49 | €1,102,495 | €1,102,527 | +€32 | 0.0% |
| Equity | 10/15 | €43,499 | €34,262 | -€9,237 | -21.2% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,501 | -€55,738 | -€9,237 | -19.9% |
| Amounts payable | 17/49 | €1,058,995 | €1,068,264 | +€9,269 | +0.9% |
| Amounts payable after more than one year | 17 | €157,000 | €157,000 | = | 0.0% |
| Financial debts | 170/4 | €157,000 | €157,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €901,995 | €911,264 | +€9,269 | +1.0% |
| Trade debts | 44 | €1,381 | €0 | -€1,381 | -100% |
| Suppliers | 440/4 | €1,381 | €0 | -€1,381 | -100% |
| Other amounts payable | 47/48 | €900,614 | €911,264 | +€10,650 | +1.2% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €16,695 | -€1,819 | -€18,514 | |
| Operating profit (loss) | 9901 | €16,577 | -€1,939 | -€18,516 | |
| Financial charges | 65/66B | €15,708 | €7,298 | -€8,410 | -53.5% |
| Recurring financial charges | 65 | €15,708 | €7,298 | -€8,410 | -53.5% |
| Profit (loss) for the period before taxes | 9903 | €869 | -€9,237 | -€10,106 | |
| Profit (loss) for the period | 9904 | €869 | -€9,237 | -€10,106 | |
| Profit (loss) for the period to be appropriated | 9905 | €869 | -€9,237 | -€10,106 |
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 14 October 2026 via checked.be.