Event 48: 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.
Event 48
Largest movements
- Receivables after one year -€32,000
down €32,000 (-49.2%), from €65,000 to €33,000
- Tangible fixed assets -€19,644
down €19,644 (-69.1%), from €28,422 to €8,778
- Cash +€1,600
new in 2025: €1,600
mainly Receivables after one year (+€32,000) and Depreciation (+€19,644)
- Profit (loss) carried forward -€16,584
down €16,584 (-24.5%), from €67,559 to €50,976
- Short-term financial debts -€15,668
no longer reported in 2025 (was €15,668)
- Debts after one year -€13,517
down €13,517 (-54.0%), from €25,011 to €11,493
- Current portion of long-term debt -€2,235
down €2,235 (-13.2%), from €16,943 to €14,707
- Trade debts -€1,442
down €1,442 (-58.6%), from €2,461 to €1,019
- Gross operating margin -€14,734
down €14,734 (-68.4%), from €21,542 to €6,809
- Depreciation -€11,357
down €11,357 (-36.6%), from €31,001 to €19,644
- Other operating charges -€2,186
down €2,186 (-71.0%), from €3,076 to €891
- Financial charges +€1,736
up €1,736 (+76.7%), from €2,264 to €4,001
- Financial income -€675
down €675 (-37.1%), from €1,817 to €1,143
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 | €139,978 | €89,964 | -€50,014 | -35.7% |
| Fixed assets | 21/28 | €28,755 | €9,111 | -€19,644 | -68.3% |
| Tangible fixed assets | 22/27 | €28,422 | €8,778 | -€19,644 | -69.1% |
| Furniture and vehicles | 24 | €28,422 | €8,778 | -€19,644 | -69.1% |
| Financial fixed assets | 28 | €334 | €334 | = | 0.0% |
| Current assets | 29/58 | €111,223 | €80,853 | -€30,371 | -27.3% |
| Amounts receivable after more than one year | 29 | €65,000 | €33,000 | -€32,000 | -49.2% |
| Other amounts receivable | 291 | €65,000 | €33,000 | -€32,000 | -49.2% |
| Amounts receivable within one year | 40/41 | €46,022 | €46,252 | +€231 | +0.5% |
| Trade receivables | 40 | €21,259 | €36,109 | +€14,851 | +69.9% |
| Other amounts receivable | 41 | €24,763 | €10,143 | -€14,620 | -59.0% |
| Cash at bank and in hand | 54/58 | - | €1,600 | +€1,600 | |
| Deferred charges and accrued income | 490/1 | €202 | - | -€202 | |
| Total equity and liabilities | 10/49 | €139,978 | €89,964 | -€50,014 | -35.7% |
| Equity | 10/15 | €75,619 | €59,036 | -€16,584 | -21.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,559 | €50,976 | -€16,584 | -24.5% |
| Amounts payable | 17/49 | €64,359 | €30,928 | -€33,431 | -51.9% |
| Amounts payable after more than one year | 17 | €25,011 | €11,493 | -€13,517 | -54.0% |
| Financial debts | 170/4 | €25,011 | €11,493 | -€13,517 | -54.0% |
| Amounts payable within one year | 42/48 | €39,348 | €19,435 | -€19,913 | -50.6% |
| Current portion of amounts payable after more than one year | 42 | €16,943 | €14,707 | -€2,235 | -13.2% |
| Financial debts | 43 | €15,668 | - | -€15,668 | |
| Credit institutions | 430/8 | €15,668 | - | -€15,668 | |
| Trade debts | 44 | €2,461 | €1,019 | -€1,442 | -58.6% |
| Suppliers | 440/4 | €2,461 | €1,019 | -€1,442 | -58.6% |
| Taxes, remuneration and social security | 45 | €4,276 | €3,708 | -€568 | -13.3% |
| Taxes | 450/3 | €568 | - | -€568 | |
| Remuneration and social security | 454/9 | €3,708 | €3,708 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,001 | €19,644 | -€11,357 | -36.6% |
| Other operating charges | 640/8 | €3,076 | €891 | -€2,186 | -71.0% |
| Gross operating margin | 9900 | €21,542 | €6,809 | -€14,734 | -68.4% |
| Operating profit (loss) | 9901 | -€12,534 | -€13,726 | -€1,191 | -9.5% |
| Financial income | 75/76B | €1,817 | €1,143 | -€675 | -37.1% |
| Recurring financial income | 75 | €1,817 | €1,143 | -€675 | -37.1% |
| Financial charges | 65/66B | €2,264 | €4,001 | +€1,736 | +76.7% |
| Recurring financial charges | 65 | €2,264 | €4,001 | +€1,736 | +76.7% |
| Profit (loss) for the period before taxes | 9903 | -€12,981 | -€16,584 | -€3,602 | -27.8% |
| Profit (loss) for the period | 9904 | -€12,981 | -€16,584 | -€3,602 | -27.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,981 | -€16,584 | -€3,602 | -27.8% |
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 26 October 2026 via checked.be.