F&Y: 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&Y
Largest movements
- Cash -€52,359
down €52,359 (-38.7%), from €135,304 to €82,945
mainly Contributions, distributions and other (-€50,000) and Investment in fixed assets (net) (-€43,794)
- Tangible fixed assets +€33,724
up €33,724 (+399%), from €8,461 to €42,185
of which Furniture and vehicles: +€32,977
- Receivables within one year +€18,229
up €18,229 (+192%), from €9,494 to €27,723
of which Trade receivables: +€21,475
- Reserves -€43,387
down €43,387 (-33.6%), from €129,052 to €85,664
- Other debts +€39,948
new in 2025: €39,948
- Tax, wage and social debts +€2,103
up €2,103 (+23.8%), from €8,834 to €10,938
- Depreciation +€9,394
up €9,394 (+921%), from €1,020 to €10,414
- Gross operating margin +€5,910
up €5,910 (+39.9%), from €14,803 to €20,714
- Taxes +€1,308
up €1,308 (+57.4%), from €2,278 to €3,586
- Financial income +€965
new in 2025: €965
- Other operating charges -€698
no longer reported in 2025 (was €698)
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 | €156,667 | €156,037 | -€630 | -0.4% |
| Formation expenses | 20 | €645 | €301 | -€344 | -53.4% |
| Fixed assets | 21/28 | €11,223 | €44,947 | +€33,724 | +300% |
| Tangible fixed assets | 22/27 | €8,461 | €42,185 | +€33,724 | +399% |
| Land and buildings | 22 | €1,397 | €978 | -€419 | -30.0% |
| Plant, machinery and equipment | 23 | €609 | €1,775 | +€1,166 | +191% |
| Furniture and vehicles | 24 | €0 | €32,977 | +€32,977 | |
| Other tangible fixed assets | 26 | €6,456 | €6,456 | = | 0.0% |
| Financial fixed assets | 28 | €2,762 | €2,762 | = | 0.0% |
| Current assets | 29/58 | €144,798 | €110,788 | -€34,010 | -23.5% |
| Amounts receivable within one year | 40/41 | €9,494 | €27,723 | +€18,229 | +192% |
| Trade receivables | 40 | €5,990 | €27,465 | +€21,475 | +359% |
| Other amounts receivable | 41 | €3,505 | €258 | -€3,247 | -92.6% |
| Cash at bank and in hand | 54/58 | €135,304 | €82,945 | -€52,359 | -38.7% |
| Deferred charges and accrued income | 490/1 | - | €121 | +€121 | |
| Total equity and liabilities | 10/49 | €156,667 | €156,037 | -€630 | -0.4% |
| Equity | 10/15 | €147,652 | €104,265 | -€43,387 | -29.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €129,052 | €85,664 | -€43,387 | -33.6% |
| Distributable reserves | 133 | €129,052 | €85,664 | -€43,387 | -33.6% |
| Amounts payable | 17/49 | €9,014 | €51,772 | +€42,757 | +474% |
| Amounts payable within one year | 42/48 | €9,014 | €51,772 | +€42,757 | +474% |
| Trade debts | 44 | €180 | €886 | +€706 | +392% |
| Suppliers | 440/4 | €180 | €886 | +€706 | +392% |
| Taxes, remuneration and social security | 45 | €8,834 | €10,938 | +€2,103 | +23.8% |
| Taxes | 450/3 | €8,834 | €10,938 | +€2,103 | +23.8% |
| Other amounts payable | 47/48 | - | €39,948 | +€39,948 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,020 | €10,414 | +€9,394 | +921% |
| Other operating charges | 640/8 | €698 | - | -€698 | |
| Gross operating margin | 9900 | €14,803 | €20,714 | +€5,910 | +39.9% |
| Operating profit (loss) | 9901 | €13,086 | €10,300 | -€2,786 | -21.3% |
| Financial income | 75/76B | - | €965 | +€965 | |
| Recurring financial income | 75 | - | €965 | +€965 | |
| Financial charges | 65/66B | €1,388 | €1,066 | -€322 | -23.2% |
| Recurring financial charges | 65 | €1,388 | €1,066 | -€322 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €11,697 | €10,198 | -€1,499 | -12.8% |
| Income taxes | 67/77 | €2,278 | €3,586 | +€1,308 | +57.4% |
| Profit (loss) for the period | 9904 | €9,419 | €6,613 | -€2,807 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,419 | €6,613 | -€2,807 | -29.8% |
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 14 October 2026 via checked.be.