FIGURE OUT: 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.
FIGURE OUT
Largest movements
- Cash -€52,140
down €52,140 (-42.9%), from €121,622 to €69,482
mainly Contributions, distributions and other (-€132,376) and Tax, wage and social debts (-€18,292)
- Tangible fixed assets -€4,902
down €4,902 (-17.2%), from €28,514 to €23,612
of which Furniture and vehicles: -€3,406
- Receivables within one year +€3,096
up €3,096 (+12.5%), from €24,848 to €27,944
of which Other amounts receivable: +€6,969
- Reserves -€29,987
down €29,987 (-22.7%), from €132,376 to €102,389
- Tax, wage and social debts -€18,292
down €18,292 (-91.2%), from €20,066 to €1,774
- Debts after one year -€8,800
down €8,800 (-48.4%), from €18,181 to €9,381
- Current portion of long-term debt +€4,470
new in 2025: €4,470
- Gross operating margin +€50,065
up €50,065 (+56.5%), from €88,592 to €138,656
- Taxes +€11,140
up €11,140 (+61.1%), from €18,230 to €29,370
- Depreciation +€4,244
up €4,244 (+232.6%), from €1,825 to €6,068
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 | €175,793 | €121,499 | -€54,294 | -30.9% |
| Fixed assets | 21/28 | €28,889 | €23,987 | -€4,902 | -17.0% |
| Tangible fixed assets | 22/27 | €28,514 | €23,612 | -€4,902 | -17.2% |
| Plant, machinery and equipment | 23 | €7,395 | €5,899 | -€1,496 | -20.2% |
| Furniture and vehicles | 24 | €21,119 | €17,713 | -€3,406 | -16.1% |
| Financial fixed assets | 28 | €375 | €375 | = | 0.0% |
| Current assets | 29/58 | €146,905 | €97,513 | -€49,392 | -33.6% |
| Amounts receivable within one year | 40/41 | €24,848 | €27,944 | +€3,096 | +12.5% |
| Trade receivables | 40 | €24,565 | €20,691 | -€3,874 | -15.8% |
| Other amounts receivable | 41 | €283 | €7,253 | +€6,969 | +2458.8% |
| Cash at bank and in hand | 54/58 | €121,622 | €69,482 | -€52,140 | -42.9% |
| Deferred charges and accrued income | 490/1 | €435 | €87 | -€348 | -80.0% |
| Total equity and liabilities | 10/49 | €175,793 | €121,499 | -€54,294 | -30.9% |
| Equity | 10/15 | €135,376 | €105,389 | -€29,987 | -22.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €132,376 | €102,389 | -€29,987 | -22.7% |
| Distributable reserves | 133 | €132,376 | €102,389 | -€29,987 | -22.7% |
| Amounts payable | 17/49 | €40,417 | €16,110 | -€24,307 | -60.1% |
| Amounts payable after more than one year | 17 | €18,181 | €9,381 | -€8,800 | -48.4% |
| Financial debts | 170/4 | €18,181 | €9,381 | -€8,800 | -48.4% |
| Amounts payable within one year | 42/48 | €22,236 | €6,729 | -€15,507 | -69.7% |
| Current portion of amounts payable after more than one year | 42 | - | €4,470 | +€4,470 | |
| Trade debts | 44 | €2,170 | €485 | -€1,686 | -77.7% |
| Suppliers | 440/4 | €2,170 | €485 | -€1,686 | -77.7% |
| Taxes, remuneration and social security | 45 | €20,066 | €1,774 | -€18,292 | -91.2% |
| Taxes | 450/3 | €20,066 | €1,774 | -€18,292 | -91.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,825 | €6,068 | +€4,244 | +232.6% |
| Other operating charges | 640/8 | €141 | €144 | +€4 | +2.6% |
| Non-recurring operating charges | 66A | €2,252 | - | -€2,252 | |
| Gross operating margin | 9900 | €88,592 | €138,656 | +€50,065 | +56.5% |
| Operating profit (loss) | 9901 | €84,375 | €132,444 | +€48,069 | +57.0% |
| Financial income | 75/76B | €386 | - | -€386 | |
| Recurring financial income | 75 | €386 | - | -€386 | |
| Financial charges | 65/66B | €194 | €684 | +€490 | +252.6% |
| Recurring financial charges | 65 | €194 | €684 | +€490 | +252.6% |
| Profit (loss) for the period before taxes | 9903 | €84,567 | €131,760 | +€47,193 | +55.8% |
| Income taxes | 67/77 | €18,230 | €29,370 | +€11,140 | +61.1% |
| Profit (loss) for the period | 9904 | €66,337 | €102,389 | +€36,052 | +54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €66,337 | €102,389 | +€36,052 | +54.3% |
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 8 October 2026 via checked.be.