F MAGAZINE: 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.
F MAGAZINE
Largest movements
- Tangible fixed assets -€19,169
down €19,169 (-100%), from €19,169 to €0
of which Furniture and vehicles: -€19,169
- Cash +€9,953
up €9,953 (+1,545%), from €644 to €10,597
mainly Investment in fixed assets (net) (+€19,169) and Receivables within one year (+€8,753)
- Receivables within one year -€8,753
down €8,753 (-17.1%), from €51,249 to €42,496
- Trade debts -€7,687
down €7,687 (-65.8%), from €11,676 to €3,989
- Debts after one year -€6,232
down €6,232 (-58.9%), from €10,578 to €4,346
- Tax, wage and social debts -€2,841
down €2,841 (-79.7%), from €3,566 to €725
- Profit (loss) carried forward -€1,538
down €1,538 (-4.8%), from €31,965 to €30,427
- Gross operating margin +€7,599
up €7,599, from -€6,887 to €711
- Depreciation -€5,277
down €5,277 (-100%), from €5,277 to €0
- Taxes -€3,387
down €3,387 (-95.0%), from €3,566 to €179
- Financial income -€531
down €531 (-17.3%), from €3,066 to €2,535
- Financial charges -€324
down €324 (-26.6%), from €1,219 to €895
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 | €73,012 | €55,043 | -€17,970 | -24.6% |
| Fixed assets | 21/28 | €21,119 | €1,950 | -€19,169 | -90.8% |
| Tangible fixed assets | 22/27 | €19,169 | €0 | -€19,169 | -100% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €19,169 | €0 | -€19,169 | -100% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €1,950 | €1,950 | = | 0.0% |
| Current assets | 29/58 | €51,893 | €53,093 | +€1,200 | +2.3% |
| Amounts receivable within one year | 40/41 | €51,249 | €42,496 | -€8,753 | -17.1% |
| Other amounts receivable | 41 | €51,249 | €42,496 | -€8,753 | -17.1% |
| Cash at bank and in hand | 54/58 | €644 | €10,597 | +€9,953 | +1,545% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €73,012 | €55,043 | -€17,970 | -24.6% |
| Equity | 10/15 | €40,363 | €38,826 | -€1,538 | -3.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €7,398 | €7,398 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €7,398 | €7,398 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,965 | €30,427 | -€1,538 | -4.8% |
| Amounts payable | 17/49 | €32,649 | €16,217 | -€16,432 | -50.3% |
| Amounts payable after more than one year | 17 | €10,578 | €4,346 | -€6,232 | -58.9% |
| Financial debts | 170/4 | €10,578 | €4,346 | -€6,232 | -58.9% |
| Amounts payable within one year | 42/48 | €22,071 | €11,871 | -€10,199 | -46.2% |
| Current portion of amounts payable after more than one year | 42 | €6,829 | €7,157 | +€328 | +4.8% |
| Trade debts | 44 | €11,676 | €3,989 | -€7,687 | -65.8% |
| Suppliers | 440/4 | €11,676 | €3,989 | -€7,687 | -65.8% |
| Taxes, remuneration and social security | 45 | €3,566 | €725 | -€2,841 | -79.7% |
| Taxes | 450/3 | €3,566 | €725 | -€2,841 | -79.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,277 | €0 | -€5,277 | -100% |
| Other operating charges | 640/8 | €520 | €379 | -€141 | -27.2% |
| Non-recurring operating charges | 66A | €3,383 | €3,332 | -€51 | -1.5% |
| Gross operating margin | 9900 | -€6,887 | €711 | +€7,599 | |
| Operating profit (loss) | 9901 | -€16,067 | -€2,999 | +€13,068 | +81.3% |
| Financial income | 75/76B | €3,066 | €2,535 | -€531 | -17.3% |
| Recurring financial income | 75 | €3,066 | €2,535 | -€531 | -17.3% |
| Financial charges | 65/66B | €1,219 | €895 | -€324 | -26.6% |
| Recurring financial charges | 65 | €1,219 | €895 | -€324 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | -€14,220 | -€1,359 | +€12,861 | +90.4% |
| Income taxes | 67/77 | €3,566 | €179 | -€3,387 | -95.0% |
| Profit (loss) for the period | 9904 | -€17,786 | -€1,538 | +€16,248 | +91.4% |
| Transfer from tax-exempt reserves | 789 | €11,879 | €0 | -€11,879 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,907 | -€1,538 | +€4,369 | +74.0% |
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 27 October 2026 via checked.be.