ELEMENT: 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.
ELEMENT
Largest movements
- Cash -€23,002
down €23,002 (-81.6%), from €28,181 to €5,179
mainly Trade debts (-€20,242) and Net result for the year (-€18,627)
- Tangible fixed assets -€21,387
down €21,387 (-22.7%), from €94,166 to €72,779
of which Leasing and similar rights: -€19,967
- Receivables within one year -€20,202
down €20,202 (-51.1%), from €39,505 to €19,303
of which Trade receivables: -€22,327
- Trade debts -€20,242
down €20,242 (-76.4%), from €26,504 to €6,262
- Profit (loss) carried forward -€18,627
down €18,627 (-53.2%), from €35,000 to €16,373
- Debts after one year -€17,964
down €17,964 (-29.8%), from €60,195 to €42,231
- Other debts +€9,127
up €9,127 (+24.2%), from €37,673 to €46,800
- Tax, wage and social debts -€7,785
down €7,785 (-61.6%), from €12,631 to €4,846
of which Remuneration and social security: -€5,994
- Gross operating margin -€38,463
down €38,463 (-42.9%), from €89,707 to €51,244
- Staff costs -€16,979
down €16,979 (-29.7%), from €57,234 to €40,255
- Depreciation +€3,711
up €3,711 (+21.0%), from €17,676 to €21,387
- Taxes -€2,157
down €2,157 (-87.9%), from €2,454 to €297
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 | €381,179 | €318,926 | -€62,253 | -16.3% |
| Fixed assets | 21/28 | €313,492 | €292,105 | -€21,387 | -6.8% |
| Tangible fixed assets | 22/27 | €94,166 | €72,779 | -€21,387 | -22.7% |
| Furniture and vehicles | 24 | €2,065 | €1,755 | -€310 | -15.0% |
| Leasing and similar rights | 25 | €83,579 | €63,612 | -€19,967 | -23.9% |
| Other tangible fixed assets | 26 | €8,522 | €7,412 | -€1,110 | -13.0% |
| Financial fixed assets | 28 | €219,326 | €219,326 | = | 0.0% |
| Current assets | 29/58 | €67,687 | €26,821 | -€40,866 | -60.4% |
| Amounts receivable within one year | 40/41 | €39,505 | €19,303 | -€20,202 | -51.1% |
| Trade receivables | 40 | €34,427 | €12,100 | -€22,327 | -64.9% |
| Other amounts receivable | 41 | €5,078 | €7,203 | +€2,125 | +41.8% |
| Cash at bank and in hand | 54/58 | €28,181 | €5,179 | -€23,002 | -81.6% |
| Deferred charges and accrued income | 490/1 | €0 | €2,339 | +€2,339 | |
| Total equity and liabilities | 10/49 | €381,179 | €318,926 | -€62,253 | -16.3% |
| Equity | 10/15 | €219,249 | €200,623 | -€18,627 | -8.5% |
| Contributions | 10/11 | €173,500 | €173,500 | = | 0.0% |
| Reserves | 13 | €10,750 | €10,750 | = | 0.0% |
| Distributable reserves | 133 | €10,750 | €10,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,000 | €16,373 | -€18,627 | -53.2% |
| Amounts payable | 17/49 | €161,929 | €118,303 | -€43,626 | -26.9% |
| Amounts payable after more than one year | 17 | €60,195 | €42,231 | -€17,964 | -29.8% |
| Financial debts | 170/4 | €60,195 | €42,231 | -€17,964 | -29.8% |
| Amounts payable within one year | 42/48 | €94,132 | €75,872 | -€18,260 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €17,324 | €17,964 | +€640 | +3.7% |
| Trade debts | 44 | €26,504 | €6,262 | -€20,242 | -76.4% |
| Suppliers | 440/4 | €26,504 | €6,262 | -€20,242 | -76.4% |
| Taxes, remuneration and social security | 45 | €12,631 | €4,846 | -€7,785 | -61.6% |
| Taxes | 450/3 | €6,637 | €4,846 | -€1,792 | -27.0% |
| Remuneration and social security | 454/9 | €5,994 | €0 | -€5,994 | -100.0% |
| Other amounts payable | 47/48 | €37,673 | €46,800 | +€9,127 | +24.2% |
| Accrued charges and deferred income | 492/3 | €7,602 | €201 | -€7,401 | -97.4% |
| Non-recurring operating income | 76A | €38,000 | €0 | -€38,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €57,234 | €40,255 | -€16,979 | -29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,676 | €21,387 | +€3,711 | +21.0% |
| Other operating charges | 640/8 | €5,005 | €4,669 | -€336 | -6.7% |
| Gross operating margin | 9900 | €89,707 | €51,244 | -€38,463 | -42.9% |
| Operating profit (loss) | 9901 | €9,791 | -€15,067 | -€24,859 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €3,356 | €3,263 | -€93 | -2.8% |
| Recurring financial charges | 65 | €3,356 | €3,263 | -€93 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €6,436 | -€18,330 | -€24,766 | |
| Income taxes | 67/77 | €2,454 | €297 | -€2,157 | -87.9% |
| Profit (loss) for the period | 9904 | €3,982 | -€18,627 | -€22,608 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,982 | -€18,627 | -€22,608 |
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 11 October 2026 via checked.be.