FIRST CONSEIL: 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.
FIRST CONSEIL
Largest movements
- Intangible fixed assets -€2,532
down €2,532 (-59.3%), from €4,267 to €1,735
- Receivables within one year -€1,793
down €1,793 (-27.9%), from €6,438 to €4,645
of which Trade receivables: -€1,718
- Tangible fixed assets -€264
no longer reported in 2025 (was €264)
- Profit (loss) carried forward -€4,492
down €4,492 (-10.2%), from -€43,941 to -€48,433
- Trade debts -€454
down €454 (-1.8%), from €24,848 to €24,394
- Accrued charges and deferred income +€373
up €373 (+90.1%), from €414 to €787
- Gross operating margin +€11,845
up €11,845 (+89.8%), from -€13,192 to -€1,347
- Depreciation -€672
down €672 (-19.4%), from €3,468 to €2,796
- Financial charges -€578
down €578 (-85.8%), from €674 to €96
- Other operating charges -€459
down €459 (-53.4%), from €859 to €400
- Financial income +€134
up €134 (+1030.8%), from €13 to €147
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 | €12,109 | €7,481 | -€4,628 | -38.2% |
| Fixed assets | 21/28 | €4,531 | €1,735 | -€2,796 | -61.7% |
| Intangible fixed assets | 21 | €4,267 | €1,735 | -€2,532 | -59.3% |
| Tangible fixed assets | 22/27 | €264 | - | -€264 | |
| Plant, machinery and equipment | 23 | €264 | - | -€264 | |
| Current assets | 29/58 | €7,578 | €5,746 | -€1,832 | -24.2% |
| Amounts receivable within one year | 40/41 | €6,438 | €4,645 | -€1,793 | -27.9% |
| Trade receivables | 40 | €3,225 | €1,507 | -€1,718 | -53.3% |
| Other amounts receivable | 41 | €3,213 | €3,138 | -€75 | -2.3% |
| Cash at bank and in hand | 54/58 | €1,102 | €1,101 | -€1 | -0.1% |
| Deferred charges and accrued income | 490/1 | €38 | - | -€38 | |
| Total equity and liabilities | 10/49 | €12,109 | €7,481 | -€4,628 | -38.2% |
| Equity | 10/15 | -€13,381 | -€17,873 | -€4,492 | -33.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €24,360 | €24,360 | = | 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% |
| Distributable reserves | 133 | €22,500 | €22,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,941 | -€48,433 | -€4,492 | -10.2% |
| Amounts payable | 17/49 | €25,490 | €25,354 | -€136 | -0.5% |
| Amounts payable after more than one year | 17 | €107 | €173 | +€66 | +61.7% |
| Other amounts payable | 178/9 | €107 | €173 | +€66 | +61.7% |
| Amounts payable within one year | 42/48 | €24,969 | €24,394 | -€575 | -2.3% |
| Financial debts | 43 | €121 | - | -€121 | |
| Credit institutions | 430/8 | €121 | - | -€121 | |
| Trade debts | 44 | €24,848 | €24,394 | -€454 | -1.8% |
| Suppliers | 440/4 | €24,848 | €24,394 | -€454 | -1.8% |
| Accrued charges and deferred income | 492/3 | €414 | €787 | +€373 | +90.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,468 | €2,796 | -€672 | -19.4% |
| Other operating charges | 640/8 | €859 | €400 | -€459 | -53.4% |
| Non-recurring operating charges | 66A | €320 | - | -€320 | |
| Gross operating margin | 9900 | -€13,192 | -€1,347 | +€11,845 | +89.8% |
| Operating profit (loss) | 9901 | -€17,839 | -€4,543 | +€13,296 | +74.5% |
| Financial income | 75/76B | €13 | €147 | +€134 | +1030.8% |
| Recurring financial income | 75 | €13 | €147 | +€134 | +1030.8% |
| Financial charges | 65/66B | €674 | €96 | -€578 | -85.8% |
| Recurring financial charges | 65 | €674 | €96 | -€578 | -85.8% |
| Profit (loss) for the period before taxes | 9903 | -€18,500 | -€4,492 | +€14,008 | +75.7% |
| Profit (loss) for the period | 9904 | -€18,500 | -€4,492 | +€14,008 | +75.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,500 | -€4,492 | +€14,008 | +75.7% |
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 4 October 2026 via checked.be.