Fast Forward: 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.
Fast Forward
Largest movements
- Cash -€294,451
down €294,451 (-65.6%), from €449,183 to €154,732
mainly Accrued charges and deferred income (-€290,810) and Receivables within one year (-€69,641)
- Receivables within one year +€69,641
up €69,641 (+6.4%), from €1.1m to €1.2m
of which Trade receivables: +€131,883
- Deferred charges and accrued income -€28,367
down €28,367 (-37.2%), from €76,220 to €47,853
- Accrued charges and deferred income -€290,810
down €290,810 (-84.9%), from €342,546 to €51,736
- Trade debts +€95,104
up €95,104 (+9.4%), from €1.0m to €1.1m
- Profit (loss) carried forward -€68,519
down €68,519 (-85.4%), from €80,279 to €11,760
- Tax, wage and social debts +€25,782
up €25,782 (+62.2%), from €41,437 to €67,219
of which Remuneration and social security: +€28,339
- Gross operating margin -€230,976
down €230,976 (-40.0%), from €577,103 to €346,127
- Staff costs -€130,627
down €130,627 (-24.7%), from €529,632 to €399,005
- Taxes -€12,571
down €12,571 (-87.2%), from €14,421 to €1,850
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 | €1,619,845 | €1,370,577 | -€249,268 | -15.4% |
| Fixed assets | 21/28 | €565 | €4,474 | +€3,909 | +691.9% |
| Tangible fixed assets | 22/27 | €565 | €4,474 | +€3,909 | +691.9% |
| Land and buildings | 22 | €565 | €2,421 | +€1,856 | +328.5% |
| Plant, machinery and equipment | 23 | - | €1,646 | +€1,646 | |
| Furniture and vehicles | 24 | - | €407 | +€407 | |
| Current assets | 29/58 | €1,619,280 | €1,366,103 | -€253,177 | -15.6% |
| Amounts receivable within one year | 40/41 | €1,093,877 | €1,163,518 | +€69,641 | +6.4% |
| Trade receivables | 40 | €915,626 | €1,047,509 | +€131,883 | +14.4% |
| Other amounts receivable | 41 | €178,251 | €116,009 | -€62,242 | -34.9% |
| Cash at bank and in hand | 54/58 | €449,183 | €154,732 | -€294,451 | -65.6% |
| Deferred charges and accrued income | 490/1 | €76,220 | €47,853 | -€28,367 | -37.2% |
| Total equity and liabilities | 10/49 | €1,619,845 | €1,370,577 | -€249,268 | -15.4% |
| Equity | 10/15 | €211,879 | €143,360 | -€68,519 | -32.3% |
| Contributions | 10/11 | €43,500 | €43,500 | = | 0.0% |
| Reserves | 13 | €88,100 | €88,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €88,100 | €88,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,279 | €11,760 | -€68,519 | -85.4% |
| Amounts payable | 17/49 | €1,407,966 | €1,227,217 | -€180,749 | -12.8% |
| Amounts payable within one year | 42/48 | €1,065,420 | €1,175,481 | +€110,061 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €10,825 | - | -€10,825 | |
| Trade debts | 44 | €1,013,158 | €1,108,262 | +€95,104 | +9.4% |
| Suppliers | 440/4 | €1,013,158 | €1,108,262 | +€95,104 | +9.4% |
| Taxes, remuneration and social security | 45 | €41,437 | €67,219 | +€25,782 | +62.2% |
| Taxes | 450/3 | €11,823 | €9,266 | -€2,557 | -21.6% |
| Remuneration and social security | 454/9 | €29,614 | €57,953 | +€28,339 | +95.7% |
| Accrued charges and deferred income | 492/3 | €342,546 | €51,736 | -€290,810 | -84.9% |
| Remuneration, social security and pensions | 62 | €529,632 | €399,005 | -€130,627 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,289 | €1,657 | +€368 | +28.5% |
| Other operating charges | 640/8 | €7,186 | €8,216 | +€1,030 | +14.3% |
| Gross operating margin | 9900 | €577,103 | €346,127 | -€230,976 | -40.0% |
| Operating profit (loss) | 9901 | €38,996 | -€62,751 | -€101,747 | |
| Financial income | 75/76B | €11 | €1 | -€10 | -90.9% |
| Recurring financial income | 75 | €11 | €1 | -€10 | -90.9% |
| Financial charges | 65/66B | €1,355 | €3,919 | +€2,564 | +189.2% |
| Recurring financial charges | 65 | €1,355 | €3,919 | +€2,564 | +189.2% |
| Profit (loss) for the period before taxes | 9903 | €37,652 | -€66,669 | -€104,321 | |
| Income taxes | 67/77 | €14,421 | €1,850 | -€12,571 | -87.2% |
| Profit (loss) for the period | 9904 | €23,231 | -€68,519 | -€91,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,231 | -€68,519 | -€91,750 |
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 7 October 2026 via checked.be.