EXCHANGE: 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.
EXCHANGE
Largest movements
- Cash -€172,160
down €172,160 (-72.9%), from €236,253 to €64,094
mainly Debts within one year (-€149,099) and Net result for the year (-€17,454)
- Deferred charges and accrued income +€5,711
up €5,711 (+431.8%), from €1,323 to €7,034
- Debts within one year -€149,099
down €149,099 (-69.6%), from €214,098 to €64,999
- Profit (loss) carried forward -€17,454
down €17,454 (-15.3%), from €114,121 to €96,667
- Purchases and services +€378,737
new in 2025: €378,737
- Gross operating margin +€101,498
up €101,498 (+84.7%), from €119,861 to €221,359
- Staff costs -€5,030
down €5,030 (-2.1%), from €239,021 to €233,990
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 | €328,219 | €161,666 | -€166,553 | -50.7% |
| Fixed assets | 21/28 | €1,514 | €531 | -€983 | -64.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,014 | €31 | -€983 | -96.9% |
| Plant, machinery and equipment | 23 | €1,014 | - | -€1,014 | |
| Furniture and vehicles | 24 | - | €31 | +€31 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €326,704 | €161,134 | -€165,570 | -50.7% |
| Amounts receivable within one year | 40/41 | €89,128 | €90,007 | +€878 | +1.0% |
| Other amounts receivable | 41 | €89,128 | €90,007 | +€878 | +1.0% |
| Cash at bank and in hand | 54/58 | €236,253 | €64,094 | -€172,160 | -72.9% |
| Deferred charges and accrued income | 490/1 | €1,323 | €7,034 | +€5,711 | +431.8% |
| Total equity and liabilities | 10/49 | €328,219 | €161,666 | -€166,553 | -50.7% |
| Equity | 10/15 | €114,121 | €96,667 | -€17,454 | -15.3% |
| Profit (loss) carried forward | 14 | €114,121 | €96,667 | -€17,454 | -15.3% |
| Amounts payable | 17/49 | €214,098 | €64,999 | -€149,099 | -69.6% |
| Amounts payable within one year | 42/48 | €214,098 | €64,999 | -€149,099 | -69.6% |
| Trade debts | 44 | €40,754 | €16,945 | -€23,809 | -58.4% |
| Suppliers | 440/4 | €40,754 | €16,945 | -€23,809 | -58.4% |
| Taxes, remuneration and social security | 45 | €37,720 | €44,854 | +€7,134 | +18.9% |
| Taxes | 450/3 | €6,501 | €5,935 | -€566 | -8.7% |
| Remuneration and social security | 454/9 | €31,219 | €38,919 | +€7,700 | +24.7% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €378,737 | +€378,737 | |
| Remuneration, social security and pensions | 62 | €239,021 | €233,990 | -€5,030 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,014 | €976 | -€38 | -3.8% |
| Other operating charges | 640/8 | €928 | - | -€928 | |
| Gross operating margin | 9900 | €119,861 | €221,359 | +€101,498 | +84.7% |
| Operating profit (loss) | 9901 | -€121,102 | -€13,607 | +€107,495 | +88.8% |
| Financial income | 75/76B | €38 | €46 | +€8 | +21.6% |
| Recurring financial income | 75 | €38 | €46 | +€8 | +21.6% |
| Financial charges | 65/66B | €5,024 | €3,893 | -€1,131 | -22.5% |
| Recurring financial charges | 65 | €5,024 | €3,893 | -€1,131 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | -€126,088 | -€17,454 | +€108,634 | +86.2% |
| Profit (loss) for the period | 9904 | -€126,088 | -€17,454 | +€108,634 | +86.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€126,088 | -€17,454 | +€108,634 | +86.2% |
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 9 October 2026 via checked.be.