Events 51: 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.
Events 51
Largest movements
- Receivables within one year +€46,887
up €46,887 (+80.0%), from €58,632 to €105,520
of which Trade receivables: +€43,367
- Tangible fixed assets -€5,791
down €5,791 (-15.2%), from €37,974 to €32,183
of which Plant, machinery and equipment: -€4,433
- Stocks and contracts +€5,500
up €5,500 (+69.2%), from €7,950 to €13,450
- Cash +€3,876
up €3,876 (+221%), from €1,758 to €5,634
mainly Debts after one year (+€138,000) and Depreciation (+€10,890)
- Debts after one year +€138,000
up €138,000 (+52.1%), from €265,000 to €403,000
- Profit (loss) carried forward -€70,064
down €70,064 (-28.0%), from -€250,438 to -€320,502
- Accrued charges and deferred income -€18,898
down €18,898 (-28.6%), from €66,022 to €47,124
- Tax, wage and social debts +€1,584
up €1,584, from €0 to €1,584
- Gross operating margin -€48,165
down €48,165 (-672%), from -€7,167 to -€55,332
- Other operating charges -€2,312
down €2,312 (-100%), from €2,312 to €0
- Depreciation -€1,107
down €1,107 (-9.2%), from €11,997 to €10,890
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 | €107,973 | €158,039 | +€50,066 | +46.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €37,974 | €32,183 | -€5,791 | -15.2% |
| Tangible fixed assets | 22/27 | €37,974 | €32,183 | -€5,791 | -15.2% |
| Plant, machinery and equipment | 23 | €27,302 | €22,868 | -€4,433 | -16.2% |
| Other tangible fixed assets | 26 | €10,672 | €9,314 | -€1,358 | -12.7% |
| Current assets | 29/58 | €70,000 | €125,856 | +€55,857 | +79.8% |
| Stocks and contracts in progress | 3 | €7,950 | €13,450 | +€5,500 | +69.2% |
| Stocks | 30/36 | €7,950 | €13,450 | +€5,500 | +69.2% |
| Amounts receivable within one year | 40/41 | €58,632 | €105,520 | +€46,887 | +80.0% |
| Trade receivables | 40 | €57,801 | €101,169 | +€43,367 | +75.0% |
| Other amounts receivable | 41 | €831 | €4,351 | +€3,520 | +424% |
| Cash at bank and in hand | 54/58 | €1,758 | €5,634 | +€3,876 | +221% |
| Deferred charges and accrued income | 490/1 | €1,660 | €1,253 | -€407 | -24.5% |
| Total equity and liabilities | 10/49 | €107,973 | €158,039 | +€50,066 | +46.4% |
| Equity | 10/15 | -€231,838 | -€301,902 | -€70,064 | -30.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€250,438 | -€320,502 | -€70,064 | -28.0% |
| Amounts payable | 17/49 | €339,812 | €459,941 | +€120,129 | +35.4% |
| Amounts payable after more than one year | 17 | €265,000 | €403,000 | +€138,000 | +52.1% |
| Other amounts payable | 178/9 | €265,000 | €403,000 | +€138,000 | +52.1% |
| Amounts payable within one year | 42/48 | €8,790 | €9,817 | +€1,027 | +11.7% |
| Trade debts | 44 | €8,790 | €8,233 | -€557 | -6.3% |
| Suppliers | 440/4 | €8,790 | €8,233 | -€557 | -6.3% |
| Taxes, remuneration and social security | 45 | €0 | €1,584 | +€1,584 | |
| Taxes | 450/3 | €0 | €1,584 | +€1,584 | |
| Accrued charges and deferred income | 492/3 | €66,022 | €47,124 | -€18,898 | -28.6% |
| Non-recurring operating income | 76A | - | €992 | +€992 | |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,997 | €10,890 | -€1,107 | -9.2% |
| Other operating charges | 640/8 | €2,312 | €0 | -€2,312 | -100% |
| Non-recurring operating charges | 66A | - | €3,410 | +€3,410 | |
| Gross operating margin | 9900 | -€7,167 | -€55,332 | -€48,165 | -672% |
| Operating profit (loss) | 9901 | -€21,476 | -€69,632 | -€48,156 | -224% |
| Financial income | 75/76B | - | €51 | +€51 | |
| Recurring financial income | 75 | - | €51 | +€51 | |
| Financial charges | 65/66B | €180 | €483 | +€302 | +168% |
| Recurring financial charges | 65 | €180 | €483 | +€302 | +168% |
| Profit (loss) for the period before taxes | 9903 | -€21,656 | -€70,064 | -€48,407 | -224% |
| Profit (loss) for the period | 9904 | -€21,656 | -€70,064 | -€48,407 | -224% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,656 | -€70,064 | -€48,407 | -224% |
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 16 October 2026 via checked.be.