Explore & C: 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.
Explore & C
Largest movements
- Cash +€26,956
up €26,956 (+36.6%), from €73,623 to €100,580
mainly Other debts (+€55,692) and Receivables within one year (+€12,512)
- Receivables within one year -€12,512
down €12,512 (-72.6%), from €17,242 to €4,730
of which Trade receivables: -€8,739
- Tangible fixed assets -€12,272
down €12,272 (-32.5%), from €37,704 to €25,432
- Other debts +€55,692
up €55,692 (+97.5%), from €57,147 to €112,839
- Profit (loss) carried forward -€50,997
down €50,997 (-91.7%), from €55,628 to €4,631
- Tax, wage and social debts -€7,855
down €7,855 (-72.5%), from €10,827 to €2,973
- Trade debts +€5,332
up €5,332 (+1141.8%), from €467 to €5,799
- Gross operating margin -€13,019
down €13,019 (-30.6%), from €42,547 to €29,529
- Financial charges +€4,011
up €4,011 (+1751.0%), from €229 to €4,240
- Taxes -€3,260
down €3,260 (-51.8%), from €6,294 to €3,034
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 | €128,569 | €130,742 | +€2,172 | +1.7% |
| Fixed assets | 21/28 | €37,704 | €25,432 | -€12,272 | -32.5% |
| Tangible fixed assets | 22/27 | €37,704 | €25,432 | -€12,272 | -32.5% |
| Furniture and vehicles | 24 | €37,704 | €25,432 | -€12,272 | -32.5% |
| Current assets | 29/58 | €90,865 | €105,309 | +€14,444 | +15.9% |
| Amounts receivable within one year | 40/41 | €17,242 | €4,730 | -€12,512 | -72.6% |
| Trade receivables | 40 | €11,379 | €2,640 | -€8,739 | -76.8% |
| Other amounts receivable | 41 | €5,863 | €2,089 | -€3,773 | -64.4% |
| Cash at bank and in hand | 54/58 | €73,623 | €100,580 | +€26,956 | +36.6% |
| Total equity and liabilities | 10/49 | €128,569 | €130,742 | +€2,172 | +1.7% |
| Equity | 10/15 | €58,628 | €7,631 | -€50,997 | -87.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,628 | €4,631 | -€50,997 | -91.7% |
| Amounts payable | 17/49 | €69,941 | €123,111 | +€53,170 | +76.0% |
| Amounts payable within one year | 42/48 | €68,441 | €121,611 | +€53,170 | +77.7% |
| Trade debts | 44 | €467 | €5,799 | +€5,332 | +1141.8% |
| Suppliers | 440/4 | €467 | €5,799 | +€5,332 | +1141.8% |
| Taxes, remuneration and social security | 45 | €10,827 | €2,973 | -€7,855 | -72.5% |
| Taxes | 450/3 | €10,827 | €2,973 | -€7,855 | -72.5% |
| Other amounts payable | 47/48 | €57,147 | €112,839 | +€55,692 | +97.5% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,385 | €12,272 | -€113 | -0.9% |
| Other operating charges | 640/8 | €1,357 | €1,391 | +€33 | +2.5% |
| Gross operating margin | 9900 | €42,547 | €29,529 | -€13,019 | -30.6% |
| Operating profit (loss) | 9901 | €28,805 | €15,866 | -€12,939 | -44.9% |
| Financial income | 75/76B | €90 | €411 | +€321 | +356.2% |
| Recurring financial income | 75 | €90 | €411 | +€321 | +356.2% |
| Financial charges | 65/66B | €229 | €4,240 | +€4,011 | +1751.0% |
| Recurring financial charges | 65 | €229 | €4,240 | +€4,011 | +1751.0% |
| Profit (loss) for the period before taxes | 9903 | €28,666 | €12,037 | -€16,629 | -58.0% |
| Income taxes | 67/77 | €6,294 | €3,034 | -€3,260 | -51.8% |
| Profit (loss) for the period | 9904 | €22,372 | €9,003 | -€13,369 | -59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,372 | €9,003 | -€13,369 | -59.8% |
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 4 October 2026 via checked.be.