Excitement: 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.
Excitement
Largest movements
- Receivables within one year -€36,050
down €36,050 (-62.4%), from €57,770 to €21,720
of which Trade receivables: -€36,049
- Cash -€2,060
down €2,060 (-99.2%), from €2,077 to €17
mainly Other debts (-€54,984) and Accrued charges and deferred income (-€1,532)
- Tangible fixed assets -€772
down €772 (-22.3%), from €3,464 to €2,692
- Other debts -€54,984
down €54,984 (-96.3%), from €57,122 to €2,137
- Tax, wage and social debts +€11,108
up €11,108 (+1807.9%), from €614 to €11,722
- Trade debts +€4,918
up €4,918 (+80.2%), from €6,133 to €11,051
- Profit (loss) carried forward +€1,647
up €1,647 (+28.6%), from -€5,763 to -€4,115
- Accrued charges and deferred income -€1,532
down €1,532 (-96.0%), from €1,595 to €64
- Gross operating margin +€3,185
up €3,185 (+655.9%), from €486 to €3,670
- Financial charges -€1,733
down €1,733 (-89.9%), from €1,926 to €194
- Other operating charges +€516
up €516 (+80.8%), from €639 to €1,156
- Depreciation +€375
up €375 (+94.1%), from €398 to €772
- Financial income +€89
up €89 (+822.9%), from €11 to €99
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 | €64,201 | €25,358 | -€38,843 | -60.5% |
| Fixed assets | 21/28 | €3,464 | €2,692 | -€772 | -22.3% |
| Tangible fixed assets | 22/27 | €3,464 | €2,692 | -€772 | -22.3% |
| Plant, machinery and equipment | 23 | €3,464 | €2,692 | -€772 | -22.3% |
| Current assets | 29/58 | €60,737 | €22,667 | -€38,070 | -62.7% |
| Amounts receivable within one year | 40/41 | €57,770 | €21,720 | -€36,050 | -62.4% |
| Trade receivables | 40 | €57,305 | €21,256 | -€36,049 | -62.9% |
| Other amounts receivable | 41 | €465 | €464 | -€1 | -0.3% |
| Cash at bank and in hand | 54/58 | €2,077 | €17 | -€2,060 | -99.2% |
| Deferred charges and accrued income | 490/1 | €891 | €930 | +€40 | +4.4% |
| Total equity and liabilities | 10/49 | €64,201 | €25,358 | -€38,843 | -60.5% |
| Equity | 10/15 | -€1,263 | €385 | +€1,647 | |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,763 | -€4,115 | +€1,647 | +28.6% |
| Amounts payable | 17/49 | €65,464 | €24,974 | -€40,490 | -61.9% |
| Amounts payable within one year | 42/48 | €63,869 | €24,910 | -€38,958 | -61.0% |
| Trade debts | 44 | €6,133 | €11,051 | +€4,918 | +80.2% |
| Suppliers | 440/4 | €6,133 | €11,051 | +€4,918 | +80.2% |
| Taxes, remuneration and social security | 45 | €614 | €11,722 | +€11,108 | +1807.9% |
| Taxes | 450/3 | €614 | €11,722 | +€11,108 | +1807.9% |
| Other amounts payable | 47/48 | €57,122 | €2,137 | -€54,984 | -96.3% |
| Accrued charges and deferred income | 492/3 | €1,595 | €64 | -€1,532 | -96.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €398 | €772 | +€375 | +94.1% |
| Other operating charges | 640/8 | €639 | €1,156 | +€516 | +80.8% |
| Gross operating margin | 9900 | €486 | €3,670 | +€3,185 | +655.9% |
| Operating profit (loss) | 9901 | -€552 | €1,742 | +€2,294 | |
| Financial income | 75/76B | €11 | €99 | +€89 | +822.9% |
| Recurring financial income | 75 | €11 | €99 | +€89 | +822.9% |
| Financial charges | 65/66B | €1,926 | €194 | -€1,733 | -89.9% |
| Recurring financial charges | 65 | €1,926 | €194 | -€1,733 | -89.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,467 | €1,647 | +€4,115 | |
| Profit (loss) for the period | 9904 | -€2,467 | €1,647 | +€4,115 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,467 | €1,647 | +€4,115 |
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 8 October 2026 via checked.be.