DELTAREFERENCE: 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.
DELTAREFERENCE
Largest movements
- Receivables within one year -€58,116
down €58,116 (-15.2%), from €382,803 to €324,688
of which Trade receivables: -€107,304
- Other debts -€42,657
down €42,657 (-3.7%), from €1.2m to €1.1m
- Trade debts -€20,749
down €20,749 (-98.2%), from €21,130 to €381
- Tax, wage and social debts +€12,445
up €12,445 (+867.4%), from €1,435 to €13,880
- Profit (loss) carried forward -€5,761
down €5,761 (-0.4%), from -€1.6m to -€1.6m
- Gross operating margin -€61,734
down €61,734 (-42.0%), from €146,965 to €85,231
- Other operating charges +€22,827
up €22,827 (+53874.4%), from €42 to €22,869
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 | €399,274 | €342,454 | -€56,820 | -14.2% |
| Fixed assets | 21/28 | €148 | €148 | = | 0.0% |
| Financial fixed assets | 28 | €148 | €148 | = | 0.0% |
| Current assets | 29/58 | €399,126 | €342,306 | -€56,820 | -14.2% |
| Stocks and contracts in progress | 3 | €12,851 | €12,851 | = | 0.0% |
| Stocks | 30/36 | €12,851 | €12,851 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €382,803 | €324,688 | -€58,116 | -15.2% |
| Trade receivables | 40 | €315,411 | €208,107 | -€107,304 | -34.0% |
| Other amounts receivable | 41 | €67,392 | €116,581 | +€49,189 | +73.0% |
| Cash at bank and in hand | 54/58 | €3,472 | €4,768 | +€1,296 | +37.3% |
| Total equity and liabilities | 10/49 | €399,274 | €342,454 | -€56,820 | -14.2% |
| Equity | 10/15 | -€1,531,591 | -€1,537,352 | -€5,761 | -0.4% |
| Contributions | 10/11 | €48,600 | €48,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,580,191 | -€1,585,952 | -€5,761 | -0.4% |
| Amounts payable | 17/49 | €1,930,865 | €1,879,806 | -€51,059 | -2.6% |
| Amounts payable after more than one year | 17 | €750,000 | €750,000 | = | 0.0% |
| Financial debts | 170/4 | €750,000 | €750,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,180,865 | €1,129,806 | -€51,059 | -4.3% |
| Financial debts | 43 | €99 | - | -€99 | |
| Credit institutions | 430/8 | €99 | - | -€99 | |
| Trade debts | 44 | €21,130 | €381 | -€20,749 | -98.2% |
| Suppliers | 440/4 | €21,130 | €381 | -€20,749 | -98.2% |
| Taxes, remuneration and social security | 45 | €1,435 | €13,880 | +€12,445 | +867.4% |
| Taxes | 450/3 | €1,435 | €13,880 | +€12,445 | +867.4% |
| Other amounts payable | 47/48 | €1,158,201 | €1,115,545 | -€42,657 | -3.7% |
| Other operating charges | 640/8 | €42 | €22,869 | +€22,827 | +53874.4% |
| Non-recurring operating charges | 66A | - | €67,703 | +€67,703 | |
| Gross operating margin | 9900 | €146,965 | €85,231 | -€61,734 | -42.0% |
| Operating profit (loss) | 9901 | €146,923 | -€5,340 | -€152,263 | |
| Financial income | 75/76B | - | €139 | +€139 | |
| Recurring financial income | 75 | - | €139 | +€139 | |
| Financial charges | 65/66B | €254 | €357 | +€103 | +40.7% |
| Recurring financial charges | 65 | €254 | €357 | +€103 | +40.7% |
| Profit (loss) for the period before taxes | 9903 | €146,669 | -€5,558 | -€152,227 | |
| Profit (loss) for the period | 9904 | €146,669 | -€5,558 | -€152,227 | |
| Profit (loss) for the period to be appropriated | 9905 | €146,669 | -€5,558 | -€152,227 |
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 5 October 2026 via checked.be.