Etienne BINON: 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.
Etienne BINON
Largest movements
- Cash -€17,164
down €17,164 (-48.1%), from €35,658 to €18,494
mainly Trade debts (-€29,864) and Investment in fixed assets (net) (-€1,087)
- Tangible fixed assets -€5,289
down €5,289 (-45.2%), from €11,704 to €6,415
of which Other tangible fixed assets: -€4,647
- Receivables within one year -€1,705
down €1,705 (-7.6%), from €22,548 to €20,843
of which Other amounts receivable: -€9,044
- Trade debts -€29,864
down €29,864 (-95.9%), from €31,149 to €1,285
- Accrued charges and deferred income +€5,397
up €5,397 (+114.6%), from €4,709 to €10,106
- Profit (loss) carried forward +€786
up €786 (+232.7%), from €338 to €1,124
- Taxes -€12,610
down €12,610 (-92.4%), from €13,651 to €1,041
- Gross operating margin -€8,051
down €8,051 (-47.4%), from €16,999 to €8,949
- Financial charges +€226
up €226 (+585.9%), from €38 to €264
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 | €69,910 | €45,752 | -€24,158 | -34.6% |
| Fixed assets | 21/28 | €11,704 | €6,415 | -€5,289 | -45.2% |
| Tangible fixed assets | 22/27 | €11,704 | €6,415 | -€5,289 | -45.2% |
| Furniture and vehicles | 24 | €4,888 | €4,247 | -€641 | -13.1% |
| Other tangible fixed assets | 26 | €6,816 | €2,169 | -€4,647 | -68.2% |
| Current assets | 29/58 | €58,206 | €39,337 | -€18,869 | -32.4% |
| Amounts receivable within one year | 40/41 | €22,548 | €20,843 | -€1,705 | -7.6% |
| Trade receivables | 40 | €6,586 | €13,925 | +€7,339 | +111.4% |
| Other amounts receivable | 41 | €15,962 | €6,918 | -€9,044 | -56.7% |
| Cash at bank and in hand | 54/58 | €35,658 | €18,494 | -€17,164 | -48.1% |
| Total equity and liabilities | 10/49 | €69,910 | €45,752 | -€24,158 | -34.6% |
| Equity | 10/15 | €28,898 | €29,684 | +€786 | +2.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €22,360 | €22,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €20,500 | €20,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €338 | €1,124 | +€786 | +232.7% |
| Amounts payable | 17/49 | €41,012 | €16,069 | -€24,943 | -60.8% |
| Amounts payable within one year | 42/48 | €36,303 | €5,962 | -€30,340 | -83.6% |
| Trade debts | 44 | €31,149 | €1,285 | -€29,864 | -95.9% |
| Suppliers | 440/4 | €31,149 | €1,285 | -€29,864 | -95.9% |
| Taxes, remuneration and social security | 45 | €5,154 | €4,677 | -€477 | -9.2% |
| Taxes | 450/3 | €3,654 | €4,677 | +€1,023 | +28.0% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Accrued charges and deferred income | 492/3 | €4,709 | €10,106 | +€5,397 | +114.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,244 | €6,376 | +€132 | +2.1% |
| Other operating charges | 640/8 | €521 | €540 | +€19 | +3.7% |
| Gross operating margin | 9900 | €16,999 | €8,949 | -€8,051 | -47.4% |
| Operating profit (loss) | 9901 | €10,235 | €2,033 | -€8,202 | -80.1% |
| Financial income | 75/76B | €7 | €58 | +€51 | +766.1% |
| Recurring financial income | 75 | €7 | €58 | +€51 | +766.1% |
| Financial charges | 65/66B | €38 | €264 | +€226 | +585.9% |
| Recurring financial charges | 65 | €38 | €264 | +€226 | +585.9% |
| Profit (loss) for the period before taxes | 9903 | €10,203 | €1,827 | -€8,376 | -82.1% |
| Income taxes | 67/77 | €13,651 | €1,041 | -€12,610 | -92.4% |
| Profit (loss) for the period | 9904 | -€3,448 | €786 | +€4,234 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,448 | €786 | +€4,234 |
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.