EN VOGUE: 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.
EN VOGUE
Largest movements
- Receivables within one year +€6,192
up €6,192 (+40.8%), from €15,194 to €21,385
of which Other amounts receivable: +€6,415
- Stocks and contracts -€2,168
down €2,168 (-52.1%), from €4,160 to €1,992
- Tangible fixed assets -€2,115
down €2,115 (-20.7%), from €10,208 to €8,093
- Financial fixed assets -€2,040
no longer reported in 2025 (was €2,040)
- Cash -€1,239
down €1,239 (-27.4%), from €4,525 to €3,286
mainly Net result for the year (-€411,326) and Receivables within one year (-€6,192)
- Profit (loss) carried forward -€411,326
down €411,326 (-1,724%), from -€23,861 to -€435,187
- Tax, wage and social debts +€380,909
up €380,909 (+1,577%), from €24,154 to €405,063
of which Taxes: +€370,296
- Trade debts +€29,047
up €29,047 (+189%), from €15,383 to €44,429
- Taxes +€359,902
up €359,902 (+3,355%), from €10,729 to €370,631
- Gross operating margin -€43,194
down €43,194 (-62.2%), from €69,456 to €26,262
- Staff costs -€12,137
down €12,137 (-20.1%), from €60,475 to €48,338
- Other operating charges +€11,653
up €11,653 (+528%), from €2,205 to €13,858
- Financial charges +€2,457
up €2,457 (+1,294%), from €190 to €2,647
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 | €36,127 | €34,756 | -€1,371 | -3.8% |
| Fixed assets | 21/28 | €12,248 | €8,093 | -€4,155 | -33.9% |
| Tangible fixed assets | 22/27 | €10,208 | €8,093 | -€2,115 | -20.7% |
| Plant, machinery and equipment | 23 | €10,208 | €8,093 | -€2,115 | -20.7% |
| Financial fixed assets | 28 | €2,040 | - | -€2,040 | |
| Current assets | 29/58 | €23,879 | €26,663 | +€2,784 | +11.7% |
| Stocks and contracts in progress | 3 | €4,160 | €1,992 | -€2,168 | -52.1% |
| Stocks | 30/36 | €4,160 | €1,992 | -€2,168 | -52.1% |
| Amounts receivable within one year | 40/41 | €15,194 | €21,385 | +€6,192 | +40.8% |
| Trade receivables | 40 | €223 | - | -€223 | |
| Other amounts receivable | 41 | €14,970 | €21,385 | +€6,415 | +42.9% |
| Cash at bank and in hand | 54/58 | €4,525 | €3,286 | -€1,239 | -27.4% |
| Total equity and liabilities | 10/49 | €36,127 | €34,756 | -€1,371 | -3.8% |
| Equity | 10/15 | -€3,409 | -€414,736 | -€411,326 | -12,065% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,861 | -€435,187 | -€411,326 | -1,724% |
| Amounts payable | 17/49 | €39,536 | €449,492 | +€409,956 | +1,037% |
| Amounts payable within one year | 42/48 | €39,536 | €449,492 | +€409,956 | +1,037% |
| Trade debts | 44 | €15,383 | €44,429 | +€29,047 | +189% |
| Suppliers | 440/4 | €15,383 | €44,429 | +€29,047 | +189% |
| Taxes, remuneration and social security | 45 | €24,154 | €405,063 | +€380,909 | +1,577% |
| Taxes | 450/3 | €11,669 | €381,965 | +€370,296 | +3,173% |
| Remuneration and social security | 454/9 | €12,485 | €23,098 | +€10,613 | +85.0% |
| Remuneration, social security and pensions | 62 | €60,475 | €48,338 | -€12,137 | -20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,844 | €2,115 | -€729 | -25.6% |
| Other operating charges | 640/8 | €2,205 | €13,858 | +€11,653 | +528% |
| Gross operating margin | 9900 | €69,456 | €26,262 | -€43,194 | -62.2% |
| Operating profit (loss) | 9901 | €3,933 | -€38,049 | -€41,981 | |
| Financial charges | 65/66B | €190 | €2,647 | +€2,457 | +1,294% |
| Recurring financial charges | 65 | €190 | €2,647 | +€2,457 | +1,294% |
| Profit (loss) for the period before taxes | 9903 | €3,743 | -€40,696 | -€44,438 | |
| Income taxes | 67/77 | €10,729 | €370,631 | +€359,902 | +3,355% |
| Profit (loss) for the period | 9904 | -€6,986 | -€411,326 | -€404,340 | -5,788% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,986 | -€411,326 | -€404,340 | -5,788% |
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 29 October 2026 via checked.be.