Epic 10: 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.
Epic 10
Largest movements
- Cash +€53,929
up €53,929 (+53.2%), from €101,455 to €155,384
mainly Receivables within one year (+€32,435) and Depreciation (+€28,436)
- Receivables within one year -€32,435
down €32,435 (-71.5%), from €45,341 to €12,906
of which Trade receivables: -€32,330
- Tangible fixed assets -€23,905
down €23,905 (-25.6%), from €93,270 to €69,365
- Tax, wage and social debts -€11,787
down €11,787 (-46.1%), from €25,549 to €13,763
of which Taxes: -€11,369
- Profit (loss) carried forward +€8,899
up €8,899 (+19.4%), from -€45,877 to -€36,978
- Gross operating margin +€44,345
up €44,345, from -€4,285 to €40,060
- Depreciation -€11,253
down €11,253 (-28.4%), from €39,689 to €28,436
- Taxes +€721
up €721 (+516.9%), from €140 to €861
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 | €245,942 | €243,061 | -€2,881 | -1.2% |
| Fixed assets | 21/28 | €93,370 | €69,465 | -€23,905 | -25.6% |
| Tangible fixed assets | 22/27 | €93,270 | €69,365 | -€23,905 | -25.6% |
| Plant, machinery and equipment | 23 | €44,997 | €33,952 | -€11,045 | -24.5% |
| Furniture and vehicles | 24 | €38,499 | €27,359 | -€11,139 | -28.9% |
| Other tangible fixed assets | 26 | €9,774 | €8,054 | -€1,720 | -17.6% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €152,572 | €173,596 | +€21,024 | +13.8% |
| Amounts receivable within one year | 40/41 | €45,341 | €12,906 | -€32,435 | -71.5% |
| Trade receivables | 40 | €45,237 | €12,906 | -€32,330 | -71.5% |
| Other amounts receivable | 41 | €105 | €0 | -€105 | -100.0% |
| Cash at bank and in hand | 54/58 | €101,455 | €155,384 | +€53,929 | +53.2% |
| Deferred charges and accrued income | 490/1 | €5,775 | €5,305 | -€470 | -8.1% |
| Total equity and liabilities | 10/49 | €245,942 | €243,061 | -€2,881 | -1.2% |
| Equity | 10/15 | €216,542 | €225,441 | +€8,899 | +4.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €257,419 | €257,419 | = | 0.0% |
| Distributable reserves | 133 | €257,419 | €257,419 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,877 | -€36,978 | +€8,899 | +19.4% |
| Amounts payable | 17/49 | €29,400 | €17,620 | -€11,780 | -40.1% |
| Amounts payable within one year | 42/48 | €29,400 | €17,280 | -€12,120 | -41.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €787 | €20 | -€767 | -97.4% |
| Credit institutions | 430/8 | €787 | €20 | -€767 | -97.4% |
| Trade debts | 44 | €2,495 | €1,219 | -€1,276 | -51.1% |
| Suppliers | 440/4 | €2,495 | €1,219 | -€1,276 | -51.1% |
| Taxes, remuneration and social security | 45 | €25,549 | €13,763 | -€11,787 | -46.1% |
| Taxes | 450/3 | €19,848 | €8,479 | -€11,369 | -57.3% |
| Remuneration and social security | 454/9 | €5,701 | €5,284 | -€418 | -7.3% |
| Other amounts payable | 47/48 | €569 | €2,278 | +€1,709 | +300.4% |
| Accrued charges and deferred income | 492/3 | - | €340 | +€340 | |
| Non-recurring operating income | 76A | - | €12,000 | +€12,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,689 | €28,436 | -€11,253 | -28.4% |
| Other operating charges | 640/8 | €1,178 | €1,225 | +€46 | +3.9% |
| Gross operating margin | 9900 | -€4,285 | €40,060 | +€44,345 | |
| Operating profit (loss) | 9901 | -€45,152 | €10,399 | +€55,552 | |
| Financial income | 75/76B | €1 | €2 | +€2 | +211.7% |
| Recurring financial income | 75 | €1 | €2 | +€2 | +211.7% |
| Financial charges | 65/66B | €586 | €641 | +€55 | +9.4% |
| Recurring financial charges | 65 | €586 | €641 | +€55 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | -€45,738 | €9,760 | +€55,498 | |
| Income taxes | 67/77 | €140 | €861 | +€721 | +516.9% |
| Profit (loss) for the period | 9904 | -€45,877 | €8,899 | +€54,777 | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,877 | €8,899 | +€54,777 |
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.