DISTRIPARENTHESE: 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.
DISTRIPARENTHESE
Largest movements
- Cash -€351,935
down €351,935 (-72.0%), from €488,578 to €136,643
mainly Net result for the year (-€560,956) and Debts after one year (-€271,060)
- Tangible fixed assets -€160,478
down €160,478 (-12.6%), from €1.3m to €1.1m
of which Plant, machinery and equipment: -€171,917
- Receivables within one year -€141,213
down €141,213 (-33.0%), from €427,842 to €286,629
of which Trade receivables: -€234,591
- Stocks and contracts -€42,809
down €42,809 (-7.1%), from €606,151 to €563,342
- Profit (loss) carried forward -€560,956
down €560,956 (-516%), from -€108,705 to -€669,660
- Debts after one year -€271,060
down €271,060 (-24.8%), from €1.1m to €820,876
of which Financial debts: -€271,060
- Trade debts +€82,343
up €82,343 (+6.0%), from €1.4m to €1.5m
- Short-term financial debts +€77,576
new in 2025: €77,576
- Gross operating margin -€257,701
down €257,701 (-12.8%), from €2.0m to €1.8m
- Staff costs -€45,324
down €45,324 (-2.9%), from €1.6m to €1.5m
- Financial charges +€36,128
up €36,128 (+67.9%), from €53,229 to €89,357
of which Financial charges: +€35,063
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 | €2,799,816 | €2,103,673 | -€696,143 | -24.9% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €1,275,185 | €1,113,962 | -€161,223 | -12.6% |
| Tangible fixed assets | 22/27 | €1,274,440 | €1,113,962 | -€160,478 | -12.6% |
| Plant, machinery and equipment | 23 | €1,245,162 | €1,073,245 | -€171,917 | -13.8% |
| Furniture and vehicles | 24 | €29,278 | €40,716 | +€11,439 | +39.1% |
| Financial fixed assets | 28 | €745 | €0 | -€745 | -100% |
| Current assets | 29/58 | €1,524,631 | €989,711 | -€534,920 | -35.1% |
| Stocks and contracts in progress | 3 | €606,151 | €563,342 | -€42,809 | -7.1% |
| Stocks | 30/36 | €606,151 | €563,342 | -€42,809 | -7.1% |
| Amounts receivable within one year | 40/41 | €427,842 | €286,629 | -€141,213 | -33.0% |
| Trade receivables | 40 | €380,908 | €146,317 | -€234,591 | -61.6% |
| Other amounts receivable | 41 | €46,934 | €140,312 | +€93,378 | +199% |
| Cash at bank and in hand | 54/58 | €488,578 | €136,643 | -€351,935 | -72.0% |
| Deferred charges and accrued income | 490/1 | €2,060 | €3,097 | +€1,037 | +50.3% |
| Total equity and liabilities | 10/49 | €2,799,816 | €2,103,673 | -€696,143 | -24.9% |
| Equity | 10/15 | -€28,705 | -€589,660 | -€560,956 | -1,954% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€108,705 | -€669,660 | -€560,956 | -516% |
| Amounts payable | 17/49 | €2,828,521 | €2,693,333 | -€135,188 | -4.8% |
| Amounts payable after more than one year | 17 | €1,091,936 | €820,876 | -€271,060 | -24.8% |
| Financial debts | 170/4 | €1,088,136 | €817,076 | -€271,060 | -24.9% |
| Other amounts payable | 178/9 | €3,800 | €3,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,734,107 | €1,872,457 | +€138,350 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €203,337 | €206,549 | +€3,212 | +1.6% |
| Financial debts | 43 | - | €77,576 | +€77,576 | |
| Credit institutions | 430/8 | - | €77,576 | +€77,576 | |
| Trade debts | 44 | €1,372,616 | €1,454,959 | +€82,343 | +6.0% |
| Suppliers | 440/4 | €1,372,616 | €1,454,959 | +€82,343 | +6.0% |
| Taxes, remuneration and social security | 45 | €158,154 | €133,373 | -€24,781 | -15.7% |
| Taxes | 450/3 | €31,926 | €7,389 | -€24,537 | -76.9% |
| Remuneration and social security | 454/9 | €126,228 | €125,984 | -€245 | -0.2% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €2,477 | €0 | -€2,477 | -100% |
| Non-recurring operating income | 76A | €11,849 | €9,062 | -€2,787 | -23.5% |
| Remuneration, social security and pensions | 62 | €1,589,260 | €1,543,935 | -€45,324 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €219,762 | €227,521 | +€7,759 | +3.5% |
| Other operating charges | 640/8 | €3,891 | €8,115 | +€4,225 | +109% |
| Non-recurring operating charges | 66A | - | €466,637 | +€466,637 | |
| Gross operating margin | 9900 | €2,017,083 | €1,759,383 | -€257,701 | -12.8% |
| Operating profit (loss) | 9901 | €204,171 | -€486,826 | -€690,997 | |
| Financial income | 75/76B | €6,933 | €16,055 | +€9,121 | +132% |
| Recurring financial income | 75 | €6,933 | €16,055 | +€9,121 | +132% |
| Financial charges | 65/66B | €53,229 | €89,357 | +€36,128 | +67.9% |
| Recurring financial charges | 65 | €53,229 | €88,292 | +€35,063 | +65.9% |
| Non-recurring financial charges | 66B | - | €1,065 | +€1,065 | |
| Profit (loss) for the period before taxes | 9903 | €157,875 | -€560,129 | -€718,004 | |
| Income taxes | 67/77 | €330 | €827 | +€496 | +150% |
| Profit (loss) for the period | 9904 | €157,544 | -€560,956 | -€718,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €157,544 | -€560,956 | -€718,500 |
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.