EXPLICITE & …: 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.
EXPLICITE & …
Largest movements
- Cash -€29,755
down €29,755 (-86.8%), from €34,267 to €4,512
mainly Receivables after one year (-€17,402) and Tax, wage and social debts (-€12,263)
- Receivables after one year +€17,402
new in 2025: €17,402
of which Trade receivables: +€15,853
- Tangible fixed assets -€8,690
down €8,690 (-32.1%), from €27,112 to €18,421
- Receivables within one year -€2,464
no longer reported in 2025 (was €2,464)
of which Trade receivables: -€1,997
- Tax, wage and social debts -€12,263
down €12,263 (-81.1%), from €15,114 to €2,852
- Profit (loss) carried forward -€7,754
down €7,754, from €6,593 to -€1,161
- Debts after one year -€4,896
no longer reported in 2025 (was €4,896)
- Trade debts +€2,974
up €2,974 (+532.5%), from €559 to €3,533
- Current portion of long-term debt -€1,345
down €1,345 (-21.6%), from €6,241 to €4,896
- Gross operating margin -€19,009
down €19,009 (-89.6%), from €21,227 to €2,218
- Taxes -€4,683
down €4,683 (-91.2%), from €5,135 to €452
- Financial income -€722
down €722 (-70.6%), from €1,022 to €300
- Other operating charges -€389
down €389 (-41.9%), from €928 to €539
- Financial charges -€313
down €313 (-34.6%), from €904 to €591
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 | €63,842 | €40,335 | -€23,507 | -36.8% |
| Fixed assets | 21/28 | €27,112 | €18,421 | -€8,690 | -32.1% |
| Tangible fixed assets | 22/27 | €27,112 | €18,421 | -€8,690 | -32.1% |
| Furniture and vehicles | 24 | €27,112 | €18,421 | -€8,690 | -32.1% |
| Current assets | 29/58 | €36,730 | €21,914 | -€14,817 | -40.3% |
| Amounts receivable after more than one year | 29 | - | €17,402 | +€17,402 | |
| Trade receivables | 290 | - | €15,853 | +€15,853 | |
| Other amounts receivable | 291 | - | €1,548 | +€1,548 | |
| Amounts receivable within one year | 40/41 | €2,464 | - | -€2,464 | |
| Trade receivables | 40 | €1,997 | - | -€1,997 | |
| Other amounts receivable | 41 | €467 | - | -€467 | |
| Cash at bank and in hand | 54/58 | €34,267 | €4,512 | -€29,755 | -86.8% |
| Total equity and liabilities | 10/49 | €63,842 | €40,335 | -€23,507 | -36.8% |
| Equity | 10/15 | €36,361 | €28,608 | -€7,754 | -21.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €27,769 | €27,769 | = | 0.0% |
| Distributable reserves | 133 | €27,769 | €27,769 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,593 | -€1,161 | -€7,754 | |
| Amounts payable | 17/49 | €27,481 | €11,728 | -€15,753 | -57.3% |
| Amounts payable after more than one year | 17 | €4,896 | - | -€4,896 | |
| Financial debts | 170/4 | €4,896 | - | -€4,896 | |
| Amounts payable within one year | 42/48 | €21,914 | €11,345 | -€10,569 | -48.2% |
| Current portion of amounts payable after more than one year | 42 | €6,241 | €4,896 | -€1,345 | -21.6% |
| Trade debts | 44 | €559 | €3,533 | +€2,974 | +532.5% |
| Suppliers | 440/4 | €559 | €3,533 | +€2,974 | +532.5% |
| Taxes, remuneration and social security | 45 | €15,114 | €2,852 | -€12,263 | -81.1% |
| Taxes | 450/3 | €15,114 | €2,852 | -€12,263 | -81.1% |
| Other amounts payable | 47/48 | - | €65 | +€65 | |
| Accrued charges and deferred income | 492/3 | €671 | €382 | -€289 | -43.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,690 | €8,690 | = | 0.0% |
| Other operating charges | 640/8 | €928 | €539 | -€389 | -41.9% |
| Gross operating margin | 9900 | €21,227 | €2,218 | -€19,009 | -89.6% |
| Operating profit (loss) | 9901 | €11,609 | -€7,011 | -€18,620 | |
| Financial income | 75/76B | €1,022 | €300 | -€722 | -70.6% |
| Recurring financial income | 75 | €1,022 | €300 | -€722 | -70.6% |
| Financial charges | 65/66B | €904 | €591 | -€313 | -34.6% |
| Recurring financial charges | 65 | €904 | €591 | -€313 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €11,727 | -€7,302 | -€19,029 | |
| Income taxes | 67/77 | €5,135 | €452 | -€4,683 | -91.2% |
| Profit (loss) for the period | 9904 | €6,593 | -€7,754 | -€14,346 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,593 | -€7,754 | -€14,346 |
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 2 October 2026 via checked.be.