ENTROPIA: 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.
ENTROPIA
Largest movements
- Tangible fixed assets -€27,801
down €27,801 (-23.6%), from €117,879 to €90,079
of which Other tangible fixed assets: -€19,081
- Cash +€13,859
up €13,859 (+1,649,896%), from €1 to €13,860
mainly Debts after one year (+€220,919) and Depreciation (+€27,801)
- Receivables within one year +€3,629
up €3,629 (+13.7%), from €26,541 to €30,170
of which Trade receivables: +€4,869
- Debts after one year +€220,919
new in 2025: €220,919
- Other debts -€214,136
down €214,136 (-94.7%), from €226,136 to €12,000
- Profit (loss) carried forward -€30,049
down €30,049 (-0.8%), from -€3.6m to -€3.7m
- Trade debts +€10,852
up €10,852 (+60.0%), from €18,085 to €28,938
- Advances received +€10,000
new in 2025: €10,000
- Financial charges -€133,481
down €133,481 (-90.7%), from €147,118 to €13,638
- Depreciation -€43,490
down €43,490 (-61.0%), from €71,291 to €27,801
- Gross operating margin -€26,107
down €26,107 (-64.6%), from €40,397 to €14,290
- Financial income -€5,579
down €5,579 (-99.7%), from €5,595 to €17
- Staff costs -€5,017
no longer reported in 2025 (was €5,017)
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 | €145,549 | €134,865 | -€10,685 | -7.3% |
| Fixed assets | 21/28 | €119,008 | €90,835 | -€28,173 | -23.7% |
| Tangible fixed assets | 22/27 | €117,879 | €90,079 | -€27,801 | -23.6% |
| Plant, machinery and equipment | 23 | €10,965 | €5,631 | -€5,334 | -48.6% |
| Furniture and vehicles | 24 | €8,151 | €4,765 | -€3,386 | -41.5% |
| Other tangible fixed assets | 26 | €98,763 | €79,683 | -€19,081 | -19.3% |
| Financial fixed assets | 28 | €1,128 | €756 | -€372 | -33.0% |
| Current assets | 29/58 | €26,542 | €44,030 | +€17,488 | +65.9% |
| Amounts receivable within one year | 40/41 | €26,541 | €30,170 | +€3,629 | +13.7% |
| Trade receivables | 40 | €25,301 | €30,170 | +€4,869 | +19.2% |
| Other amounts receivable | 41 | €1,240 | - | -€1,240 | |
| Cash at bank and in hand | 54/58 | €1 | €13,860 | +€13,859 | +1,649,896% |
| Total equity and liabilities | 10/49 | €145,549 | €134,865 | -€10,685 | -7.3% |
| Equity | 10/15 | -€109,305 | -€139,354 | -€30,049 | -27.5% |
| Contributions | 10/11 | €3,520,000 | €3,520,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,631,305 | -€3,661,354 | -€30,049 | -0.8% |
| Amounts payable | 17/49 | €254,854 | €274,219 | +€19,364 | +7.6% |
| Amounts payable after more than one year | 17 | - | €220,919 | +€220,919 | |
| Other amounts payable | 178/9 | - | €220,919 | +€220,919 | |
| Amounts payable within one year | 42/48 | €254,854 | €53,299 | -€201,555 | -79.1% |
| Financial debts | 43 | €9 | - | -€9 | |
| Credit institutions | 430/8 | €9 | - | -€9 | |
| Trade debts | 44 | €18,085 | €28,938 | +€10,852 | +60.0% |
| Suppliers | 440/4 | €18,085 | €28,938 | +€10,852 | +60.0% |
| Advances received on contracts in progress | 46 | - | €10,000 | +€10,000 | |
| Taxes, remuneration and social security | 45 | €10,624 | €2,362 | -€8,262 | -77.8% |
| Taxes | 450/3 | €1,535 | €2,362 | +€826 | +53.8% |
| Remuneration and social security | 454/9 | €9,088 | - | -€9,088 | |
| Other amounts payable | 47/48 | €226,136 | €12,000 | -€214,136 | -94.7% |
| Non-recurring operating income | 76A | €99 | €1,524 | +€1,426 | +1,444% |
| Remuneration, social security and pensions | 62 | €5,017 | - | -€5,017 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,291 | €27,801 | -€43,490 | -61.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €639 | - | -€639 | |
| Other operating charges | 640/8 | €537 | €1,318 | +€781 | +145% |
| Non-recurring operating charges | 66A | €2,500 | €1,599 | -€901 | -36.0% |
| Gross operating margin | 9900 | €40,397 | €14,290 | -€26,107 | -64.6% |
| Operating profit (loss) | 9901 | -€39,587 | -€16,428 | +€23,159 | +58.5% |
| Financial income | 75/76B | €5,595 | €17 | -€5,579 | -99.7% |
| Recurring financial income | 75 | €5,595 | €17 | -€5,579 | -99.7% |
| Financial charges | 65/66B | €147,118 | €13,638 | -€133,481 | -90.7% |
| Recurring financial charges | 65 | €147,118 | €13,638 | -€133,481 | -90.7% |
| Profit (loss) for the period before taxes | 9903 | -€181,110 | -€30,049 | +€151,061 | +83.4% |
| Income taxes | 67/77 | €0 | - | -€0 | |
| Profit (loss) for the period | 9904 | -€181,110 | -€30,049 | +€151,061 | +83.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€181,110 | -€30,049 | +€151,061 | +83.4% |
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 20 October 2026 via checked.be.