EQUINAD: 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.
EQUINAD
Largest movements
- Stocks and contracts -€25,293
down €25,293 (-45.7%), from €55,293 to €30,000
- Receivables within one year -€2,320
down €2,320 (-84.2%), from €2,757 to €436
- Tangible fixed assets -€1,703
down €1,703 (-100.0%), from €1,703 to €0
- Profit (loss) carried forward -€22,044
down €22,044 (-9.1%), from -€242,112 to -€264,156
- Trade debts -€4,482
down €4,482 (-87.8%), from €5,102 to €620
- Other debts -€3,000
down €3,000 (-3.1%), from €97,224 to €94,224
- Gross operating margin +€61,397
up €61,397 (+99.6%), from -€61,627 to -€230
- Write-downs +€19,543
new in 2025: €19,543
- Depreciation -€834
down €834 (-32.9%), from €2,538 to €1,703
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 | €60,214 | €30,688 | -€29,526 | -49.0% |
| Fixed assets | 21/28 | €1,703 | €0 | -€1,703 | -100.0% |
| Tangible fixed assets | 22/27 | €1,703 | €0 | -€1,703 | -100.0% |
| Furniture and vehicles | 24 | €1,703 | €0 | -€1,703 | -100.0% |
| Current assets | 29/58 | €58,510 | €30,688 | -€27,822 | -47.6% |
| Stocks and contracts in progress | 3 | €55,293 | €30,000 | -€25,293 | -45.7% |
| Stocks | 30/36 | €55,293 | €30,000 | -€25,293 | -45.7% |
| Amounts receivable within one year | 40/41 | €2,757 | €436 | -€2,320 | -84.2% |
| Other amounts receivable | 41 | €2,757 | €436 | -€2,320 | -84.2% |
| Cash at bank and in hand | 54/58 | €461 | €252 | -€209 | -45.3% |
| Total equity and liabilities | 10/49 | €60,214 | €30,688 | -€29,526 | -49.0% |
| Equity | 10/15 | -€42,112 | -€64,156 | -€22,044 | -52.3% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€242,112 | -€264,156 | -€22,044 | -9.1% |
| Amounts payable | 17/49 | €102,326 | €94,844 | -€7,482 | -7.3% |
| Amounts payable within one year | 42/48 | €102,326 | €94,844 | -€7,482 | -7.3% |
| Trade debts | 44 | €5,102 | €620 | -€4,482 | -87.8% |
| Suppliers | 440/4 | €5,102 | €620 | -€4,482 | -87.8% |
| Other amounts payable | 47/48 | €97,224 | €94,224 | -€3,000 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,538 | €1,703 | -€834 | -32.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €19,543 | +€19,543 | |
| Other operating charges | 640/8 | €1,119 | €503 | -€616 | -55.1% |
| Gross operating margin | 9900 | -€61,627 | -€230 | +€61,397 | +99.6% |
| Operating profit (loss) | 9901 | -€65,283 | -€21,979 | +€43,304 | +66.3% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €93 | €65 | -€28 | -29.9% |
| Recurring financial charges | 65 | €93 | €65 | -€28 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | -€65,375 | -€22,044 | +€43,331 | +66.3% |
| Profit (loss) for the period | 9904 | -€65,375 | -€22,044 | +€43,331 | +66.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€65,375 | -€22,044 | +€43,331 | +66.3% |
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 7 October 2026 via checked.be.