Driven By Passion: 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.
Driven By Passion
Largest movements
- Stocks and contracts +€31,620
new in 2025: €31,620
- Receivables within one year -€26,210
down €26,210 (-18.9%), from €138,881 to €112,670
of which Trade receivables: -€22,805
- Tangible fixed assets -€11,765
down €11,765 (-8.1%), from €145,001 to €133,237
- Tax, wage and social debts -€12,067
down €12,067 (-20.8%), from €58,061 to €45,993
of which Taxes: -€12,067
- Reserves -€8,872
down €8,872 (-5.0%), from €178,223 to €169,351
of which Distributable reserves: -€8,872
- Current portion of long-term debt +€6,057
new in 2025: €6,057
- Short-term financial debts +€5,848
up €5,848 (+23.1%), from €25,362 to €31,210
- Gross operating margin -€84,268
down €84,268 (-89.0%), from €94,669 to €10,400
- Taxes -€18,270
down €18,270 (-70.0%), from €26,089 to €7,819
- Staff costs -€14,422
down €14,422 (-79.4%), from €18,162 to €3,740
- Financial income +€6,383
up €6,383 (+194%), from €3,283 to €9,666
- Depreciation -€1,179
down €1,179 (-12.3%), from €9,558 to €8,378
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 | €302,287 | €297,266 | -€5,021 | -1.7% |
| Fixed assets | 21/28 | €152,051 | €140,287 | -€11,765 | -7.7% |
| Tangible fixed assets | 22/27 | €145,001 | €133,237 | -€11,765 | -8.1% |
| Land and buildings | 22 | €29,390 | €25,091 | -€4,300 | -14.6% |
| Plant, machinery and equipment | 23 | €365 | €0 | -€365 | -100% |
| Furniture and vehicles | 24 | €11,455 | €7,742 | -€3,713 | -32.4% |
| Other tangible fixed assets | 26 | €103,790 | €100,404 | -€3,386 | -3.3% |
| Financial fixed assets | 28 | €7,050 | €7,050 | = | 0.0% |
| Current assets | 29/58 | €150,236 | €156,980 | +€6,744 | +4.5% |
| Stocks and contracts in progress | 3 | - | €31,620 | +€31,620 | |
| Stocks | 30/36 | - | €31,620 | +€31,620 | |
| Amounts receivable within one year | 40/41 | €138,881 | €112,670 | -€26,210 | -18.9% |
| Trade receivables | 40 | €75,462 | €52,657 | -€22,805 | -30.2% |
| Other amounts receivable | 41 | €63,418 | €60,013 | -€3,405 | -5.4% |
| Cash at bank and in hand | 54/58 | €8,987 | €9,618 | +€632 | +7.0% |
| Deferred charges and accrued income | 490/1 | €2,369 | €3,071 | +€702 | +29.7% |
| Total equity and liabilities | 10/49 | €302,287 | €297,266 | -€5,021 | -1.7% |
| Equity | 10/15 | €190,623 | €181,751 | -€8,872 | -4.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €178,223 | €169,351 | -€8,872 | -5.0% |
| Non-distributable reserves | 130/1 | €1,736 | €1,736 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,736 | €1,736 | = | 0.0% |
| Distributable reserves | 133 | €176,487 | €167,615 | -€8,872 | -5.0% |
| Amounts payable | 17/49 | €111,664 | €115,516 | +€3,852 | +3.4% |
| Amounts payable within one year | 42/48 | €111,546 | €112,505 | +€960 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | - | €6,057 | +€6,057 | |
| Financial debts | 43 | €25,362 | €31,210 | +€5,848 | +23.1% |
| Credit institutions | 430/8 | €25,362 | €31,210 | +€5,848 | +23.1% |
| Trade debts | 44 | €28,123 | €29,245 | +€1,122 | +4.0% |
| Suppliers | 440/4 | €28,123 | €29,245 | +€1,122 | +4.0% |
| Taxes, remuneration and social security | 45 | €58,061 | €45,993 | -€12,067 | -20.8% |
| Taxes | 450/3 | €58,061 | €45,993 | -€12,067 | -20.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €119 | €3,010 | +€2,892 | +2,440% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €18,162 | €3,740 | -€14,422 | -79.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,558 | €8,378 | -€1,179 | -12.3% |
| Other operating charges | 640/8 | €1,496 | €1,729 | +€232 | +15.5% |
| Gross operating margin | 9900 | €94,669 | €10,400 | -€84,268 | -89.0% |
| Operating profit (loss) | 9901 | €65,453 | -€3,447 | -€68,900 | |
| Financial income | 75/76B | €3,283 | €9,666 | +€6,383 | +194% |
| Recurring financial income | 75 | €3,283 | €9,666 | +€6,383 | +194% |
| Financial charges | 65/66B | €6,098 | €7,272 | +€1,174 | +19.3% |
| Recurring financial charges | 65 | €6,098 | €7,272 | +€1,174 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €62,638 | -€1,053 | -€63,691 | |
| Income taxes | 67/77 | €26,089 | €7,819 | -€18,270 | -70.0% |
| Profit (loss) for the period | 9904 | €36,549 | -€8,872 | -€45,421 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,549 | -€8,872 | -€45,421 |
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 15 October 2026 via checked.be.