FACTeM: 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.
FACTeM
Largest movements
- Cash +€1,842
up €1,842 (+95.2%), from €1,935 to €3,777
mainly Net result for the year (+€1,858) and Depreciation (+€897)
- Formation expenses -€897
no longer reported in 2025 (was €897)
- Stocks and contracts -€564
no longer reported in 2025 (was €564)
- Deferred charges and accrued income -€499
no longer reported in 2025 (was €499)
- Receivables within one year +€142
up €142 (+1,799%), from €8 to €150
- Other debts -€1,947
down €1,947 (-73.5%), from €2,650 to €704
- Profit (loss) carried forward +€1,858
up €1,858 (+9.7%), from -€19,095 to -€17,237
- Gross operating margin +€8,228
up €8,228, from -€5,338 to €2,890
- Write-downs -€347
new in 2025: -€347
- Depreciation +€265
up €265 (+41.8%), from €633 to €897
- Other operating charges +€224
up €224 (+140%), from €160 to €384
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 | €4,039 | €3,927 | -€113 | -2.8% |
| Formation expenses | 20 | €897 | - | -€897 | |
| Fixed assets | 21/28 | €136 | - | -€136 | |
| Tangible fixed assets | 22/27 | €136 | - | -€136 | |
| Furniture and vehicles | 24 | €136 | - | -€136 | |
| Current assets | 29/58 | €3,006 | €3,927 | +€921 | +30.6% |
| Stocks and contracts in progress | 3 | €564 | - | -€564 | |
| Stocks | 30/36 | €564 | - | -€564 | |
| Amounts receivable within one year | 40/41 | €8 | €150 | +€142 | +1,799% |
| Trade receivables | 40 | €8 | €150 | +€142 | +1,799% |
| Cash at bank and in hand | 54/58 | €1,935 | €3,777 | +€1,842 | +95.2% |
| Deferred charges and accrued income | 490/1 | €499 | - | -€499 | |
| Total equity and liabilities | 10/49 | €4,039 | €3,927 | -€113 | -2.8% |
| Equity | 10/15 | €1,365 | €3,223 | +€1,858 | +136% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,095 | -€17,237 | +€1,858 | +9.7% |
| Amounts payable | 17/49 | €2,674 | €704 | -€1,971 | -73.7% |
| Amounts payable within one year | 42/48 | €2,674 | €704 | -€1,971 | -73.7% |
| Trade debts | 44 | €24 | - | -€24 | |
| Suppliers | 440/4 | €24 | - | -€24 | |
| Other amounts payable | 47/48 | €2,650 | €704 | -€1,947 | -73.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €633 | €897 | +€265 | +41.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€347 | -€347 | |
| Other operating charges | 640/8 | €160 | €384 | +€224 | +140% |
| Gross operating margin | 9900 | -€5,338 | €2,890 | +€8,228 | |
| Operating profit (loss) | 9901 | -€6,130 | €1,955 | +€8,086 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €104 | €100 | -€4 | -3.4% |
| Recurring financial charges | 65 | €104 | €100 | -€4 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,234 | €1,858 | +€8,092 | |
| Profit (loss) for the period | 9904 | -€6,234 | €1,858 | +€8,092 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,234 | €1,858 | +€8,092 |
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 17 October 2026 via checked.be.