FACETS: 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.
FACETS
Largest movements
- Receivables within one year -€24,455
down €24,455 (-27.6%), from €88,688 to €64,233
of which Trade receivables: -€24,666
- Cash -€19,802
down €19,802 (-46.4%), from €42,639 to €22,837
mainly Other debts (-€75,910) and Tax, wage and social debts (-€3,872)
- Tangible fixed assets -€6,499
down €6,499 (-21.3%), from €30,509 to €24,010
- Other debts -€75,910
down €75,910 (-79.6%), from €95,359 to €19,449
- Reserves +€29,893
up €29,893 (+52.0%), from €57,503 to €87,396
- Tax, wage and social debts -€3,872
down €3,872 (-54.0%), from €7,167 to €3,295
of which Taxes: -€3,872
- Gross operating margin +€4,046
up €4,046 (+8.1%), from €50,253 to €54,299
- Financial charges -€1,705
down €1,705 (-31.3%), from €5,440 to €3,736
- Taxes -€795
down €795 (-7.0%), from €11,282 to €10,487
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 | €162,206 | €111,471 | -€50,735 | -31.3% |
| Fixed assets | 21/28 | €30,509 | €24,010 | -€6,499 | -21.3% |
| Tangible fixed assets | 22/27 | €30,509 | €24,010 | -€6,499 | -21.3% |
| Furniture and vehicles | 24 | €30,509 | €24,010 | -€6,499 | -21.3% |
| Current assets | 29/58 | €131,697 | €87,461 | -€44,236 | -33.6% |
| Amounts receivable within one year | 40/41 | €88,688 | €64,233 | -€24,455 | -27.6% |
| Trade receivables | 40 | €87,586 | €62,920 | -€24,666 | -28.2% |
| Other amounts receivable | 41 | €1,102 | €1,313 | +€212 | +19.2% |
| Cash at bank and in hand | 54/58 | €42,639 | €22,837 | -€19,802 | -46.4% |
| Deferred charges and accrued income | 490/1 | €370 | €391 | +€21 | +5.6% |
| Total equity and liabilities | 10/49 | €162,206 | €111,471 | -€50,735 | -31.3% |
| Equity | 10/15 | €58,503 | €88,396 | +€29,893 | +51.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €57,503 | €87,396 | +€29,893 | +52.0% |
| Distributable reserves | 133 | €57,503 | €87,396 | +€29,893 | +52.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €103,703 | €23,075 | -€80,628 | -77.7% |
| Amounts payable within one year | 42/48 | €103,703 | €23,075 | -€80,628 | -77.7% |
| Trade debts | 44 | €1,177 | €331 | -€846 | -71.9% |
| Suppliers | 440/4 | €1,177 | €331 | -€846 | -71.9% |
| Taxes, remuneration and social security | 45 | €7,167 | €3,295 | -€3,872 | -54.0% |
| Taxes | 450/3 | €7,167 | €3,295 | -€3,872 | -54.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €95,359 | €19,449 | -€75,910 | -79.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,304 | €9,664 | +€359 | +3.9% |
| Other operating charges | 640/8 | €558 | €520 | -€39 | -6.9% |
| Gross operating margin | 9900 | €50,253 | €54,299 | +€4,046 | +8.1% |
| Operating profit (loss) | 9901 | €40,390 | €44,116 | +€3,726 | +9.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €5,440 | €3,736 | -€1,705 | -31.3% |
| Recurring financial charges | 65 | €5,440 | €3,736 | -€1,705 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €34,950 | €40,380 | +€5,430 | +15.5% |
| Income taxes | 67/77 | €11,282 | €10,487 | -€795 | -7.0% |
| Profit (loss) for the period | 9904 | €23,668 | €29,893 | +€6,225 | +26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,668 | €29,893 | +€6,225 | +26.3% |
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 12 October 2026 via checked.be.