EN PHASE: 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.
EN PHASE
Largest movements
- Tangible fixed assets -€3,657
down €3,657 (-99.1%), from €3,688 to €31
of which Plant, machinery and equipment: -€3,214
- Receivables within one year -€1,852
down €1,852 (-10.5%), from €17,654 to €15,803
of which Trade receivables: -€1,303
- Cash -€408
down €408 (-35.7%), from €1,142 to €734
mainly Net result for the year (-€9,656) and Accrued charges and deferred income (-€134)
- Profit (loss) carried forward -€9,656
down €9,656, from €5,072 to -€4,585
- Other debts +€2,090
new in 2025: €2,090
- Trade debts +€1,646
up €1,646 (+2515.4%), from €65 to €1,712
- Gross operating margin -€19,463
down €19,463, from €12,408 to -€7,055
- Taxes -€3,743
down €3,743, from €2,008 to -€1,735
- Depreciation -€904
down €904 (-19.8%), from €4,561 to €3,657
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 | €22,485 | €16,568 | -€5,917 | -26.3% |
| Fixed assets | 21/28 | €3,688 | €31 | -€3,657 | -99.1% |
| Tangible fixed assets | 22/27 | €3,688 | €31 | -€3,657 | -99.1% |
| Plant, machinery and equipment | 23 | €3,245 | €31 | -€3,214 | -99.0% |
| Furniture and vehicles | 24 | €443 | - | -€443 | |
| Current assets | 29/58 | €18,796 | €16,537 | -€2,260 | -12.0% |
| Amounts receivable within one year | 40/41 | €17,654 | €15,803 | -€1,852 | -10.5% |
| Trade receivables | 40 | €15,731 | €14,428 | -€1,303 | -8.3% |
| Other amounts receivable | 41 | €1,923 | €1,375 | -€549 | -28.5% |
| Cash at bank and in hand | 54/58 | €1,142 | €734 | -€408 | -35.7% |
| Total equity and liabilities | 10/49 | €22,485 | €16,568 | -€5,917 | -26.3% |
| Equity | 10/15 | €17,472 | €7,815 | -€9,656 | -55.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,072 | -€4,585 | -€9,656 | |
| Amounts payable | 17/49 | €5,013 | €8,753 | +€3,740 | +74.6% |
| Amounts payable within one year | 42/48 | €4,879 | €8,753 | +€3,874 | +79.4% |
| Trade debts | 44 | €65 | €1,712 | +€1,646 | +2515.4% |
| Suppliers | 440/4 | €65 | €1,712 | +€1,646 | +2515.4% |
| Taxes, remuneration and social security | 45 | €4,813 | €4,951 | +€137 | +2.8% |
| Taxes | 450/3 | €4,813 | €4,951 | +€137 | +2.8% |
| Other amounts payable | 47/48 | - | €2,090 | +€2,090 | |
| Accrued charges and deferred income | 492/3 | €134 | - | -€134 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,561 | €3,657 | -€904 | -19.8% |
| Other operating charges | 640/8 | €394 | €407 | +€13 | +3.4% |
| Gross operating margin | 9900 | €12,408 | -€7,055 | -€19,463 | |
| Operating profit (loss) | 9901 | €7,453 | -€11,119 | -€18,573 | |
| Financial charges | 65/66B | €286 | €272 | -€14 | -4.9% |
| Recurring financial charges | 65 | €286 | €272 | -€14 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €7,167 | -€11,392 | -€18,558 | |
| Income taxes | 67/77 | €2,008 | -€1,735 | -€3,743 | |
| Profit (loss) for the period | 9904 | €5,159 | -€9,656 | -€14,815 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,159 | -€9,656 | -€14,815 |
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 1 October 2026 via checked.be.