Deep Dive: 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.
Deep Dive
Largest movements
- Receivables within one year -€13,877
down €13,877 (-93.8%), from €14,793 to €916
of which Trade receivables: -€11,816
- Cash +€10,000
up €10,000 (+54.7%), from €18,297 to €28,298
mainly Receivables within one year (+€13,877) and Depreciation (+€5,086)
- Tangible fixed assets -€4,292
down €4,292 (-19.1%), from €22,437 to €18,145
- Profit (loss) carried forward -€11,133
no longer reported in 2025 (was €11,133)
- Reserves +€10,499
up €10,499 (+42.5%), from €24,727 to €35,226
- Tax, wage and social debts -€9,288
down €9,288 (-95.0%), from €9,772 to €484
- Other debts +€784
up €784 (+7.3%), from €10,790 to €11,575
- Accrued charges and deferred income +€676
up €676 (+1107.3%), from €61 to €737
- Gross operating margin -€43,700
down €43,700 (-86.6%), from €50,434 to €6,735
- Taxes -€12,011
down €12,011 (-96.1%), from €12,495 to €484
- Depreciation +€3,825
up €3,825 (+303.2%), from €1,262 to €5,086
- Financial charges +€799
up €799 (+4798.7%), from €17 to €815
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 | €57,403 | €48,788 | -€8,615 | -15.0% |
| Fixed assets | 21/28 | €22,437 | €18,145 | -€4,292 | -19.1% |
| Tangible fixed assets | 22/27 | €22,437 | €18,145 | -€4,292 | -19.1% |
| Furniture and vehicles | 24 | €22,437 | €18,145 | -€4,292 | -19.1% |
| Current assets | 29/58 | €34,965 | €30,642 | -€4,323 | -12.4% |
| Amounts receivable within one year | 40/41 | €14,793 | €916 | -€13,877 | -93.8% |
| Trade receivables | 40 | €11,816 | - | -€11,816 | |
| Other amounts receivable | 41 | €2,977 | €916 | -€2,061 | -69.2% |
| Cash at bank and in hand | 54/58 | €18,297 | €28,298 | +€10,000 | +54.7% |
| Deferred charges and accrued income | 490/1 | €1,875 | €1,428 | -€447 | -23.8% |
| Total equity and liabilities | 10/49 | €57,403 | €48,788 | -€8,615 | -15.0% |
| Equity | 10/15 | €36,061 | €35,426 | -€634 | -1.8% |
| Contributions | 10/11 | €200 | €200 | = | 0.0% |
| Reserves | 13 | €24,727 | €35,226 | +€10,499 | +42.5% |
| Distributable reserves | 133 | €24,727 | €35,226 | +€10,499 | +42.5% |
| Profit (loss) carried forward | 14 | €11,133 | - | -€11,133 | |
| Amounts payable | 17/49 | €21,342 | €13,361 | -€7,981 | -37.4% |
| Amounts payable within one year | 42/48 | €21,281 | €12,625 | -€8,657 | -40.7% |
| Financial debts | 43 | €60 | €538 | +€478 | +799.7% |
| Credit institutions | 430/8 | €60 | €538 | +€478 | +799.7% |
| Trade debts | 44 | €659 | €28 | -€631 | -95.8% |
| Suppliers | 440/4 | €659 | €28 | -€631 | -95.8% |
| Taxes, remuneration and social security | 45 | €9,772 | €484 | -€9,288 | -95.0% |
| Taxes | 450/3 | €9,772 | €484 | -€9,288 | -95.0% |
| Other amounts payable | 47/48 | €10,790 | €11,575 | +€784 | +7.3% |
| Accrued charges and deferred income | 492/3 | €61 | €737 | +€676 | +1107.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,262 | €5,086 | +€3,825 | +303.2% |
| Other operating charges | 640/8 | - | €150 | +€150 | |
| Gross operating margin | 9900 | €50,434 | €6,735 | -€43,700 | -86.6% |
| Operating profit (loss) | 9901 | €49,173 | €1,498 | -€47,674 | -97.0% |
| Financial charges | 65/66B | €17 | €815 | +€799 | +4798.7% |
| Recurring financial charges | 65 | €17 | €815 | +€799 | +4798.7% |
| Profit (loss) for the period before taxes | 9903 | €49,156 | €683 | -€48,473 | -98.6% |
| Income taxes | 67/77 | €12,495 | €484 | -€12,011 | -96.1% |
| Profit (loss) for the period | 9904 | €36,661 | €199 | -€36,462 | -99.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,661 | €199 | -€36,462 | -99.5% |
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 10 October 2026 via checked.be.