Flow 4 Outcome: 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.
Flow 4 Outcome
Largest movements
- Receivables after one year -€27,000
down €27,000 (-84.4%), from €32,000 to €5,000
- Current investments -€22,553
down €22,553 (-43.4%), from €52,000 to €29,447
- Cash -€9,016
down €9,016 (-81.8%), from €11,028 to €2,012
mainly Net result for the year (-€40,382) and Tax, wage and social debts (-€10,661)
- Receivables within one year +€8,444
up €8,444 (+32.0%), from €26,407 to €34,852
of which Trade receivables: +€9,216
- Reserves -€40,382
down €40,382 (-41.7%), from €96,760 to €56,378
- Tax, wage and social debts -€10,661
down €10,661 (-39.5%), from €26,988 to €16,327
- Gross operating margin -€69,846
down €69,846, from €31,930 to -€37,917
- Taxes -€6,805
down €6,805 (-98.1%), from €6,937 to €132
- Financial income +€1,234
up €1,234 (+129%), from €960 to €2,194
of which Non-recurring financial income: +€1,680
- Financial charges -€633
down €633 (-36.7%), from €1,723 to €1,090
- Staff costs -€612
down €612 (-29.4%), from €2,079 to €1,467
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 | €129,087 | €78,601 | -€50,486 | -39.1% |
| Fixed assets | 21/28 | €6,238 | €7,024 | +€786 | +12.6% |
| Tangible fixed assets | 22/27 | €6,238 | €7,024 | +€786 | +12.6% |
| Plant, machinery and equipment | 23 | €177 | €1,646 | +€1,469 | +831% |
| Other tangible fixed assets | 26 | €6,062 | €5,378 | -€684 | -11.3% |
| Current assets | 29/58 | €122,848 | €71,577 | -€51,272 | -41.7% |
| Amounts receivable after more than one year | 29 | €32,000 | €5,000 | -€27,000 | -84.4% |
| Other amounts receivable | 291 | €32,000 | €5,000 | -€27,000 | -84.4% |
| Amounts receivable within one year | 40/41 | €26,407 | €34,852 | +€8,444 | +32.0% |
| Trade receivables | 40 | €22,759 | €31,975 | +€9,216 | +40.5% |
| Other amounts receivable | 41 | €3,649 | €2,877 | -€772 | -21.1% |
| Current investments | 50/53 | €52,000 | €29,447 | -€22,553 | -43.4% |
| Cash at bank and in hand | 54/58 | €11,028 | €2,012 | -€9,016 | -81.8% |
| Deferred charges and accrued income | 490/1 | €1,414 | €266 | -€1,148 | -81.2% |
| Total equity and liabilities | 10/49 | €129,087 | €78,601 | -€50,486 | -39.1% |
| Equity | 10/15 | €98,760 | €58,378 | -€40,382 | -40.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €96,760 | €56,378 | -€40,382 | -41.7% |
| Distributable reserves | 133 | €96,760 | €56,378 | -€40,382 | -41.7% |
| Amounts payable | 17/49 | €30,327 | €20,222 | -€10,104 | -33.3% |
| Amounts payable within one year | 42/48 | €30,005 | €20,222 | -€9,783 | -32.6% |
| Trade debts | 44 | €3,017 | €3,896 | +€878 | +29.1% |
| Suppliers | 440/4 | €3,017 | €3,896 | +€878 | +29.1% |
| Taxes, remuneration and social security | 45 | €26,988 | €16,327 | -€10,661 | -39.5% |
| Taxes | 450/3 | €26,988 | €16,327 | -€10,661 | -39.5% |
| Accrued charges and deferred income | 492/3 | €322 | €0 | -€322 | -100% |
| Remuneration, social security and pensions | 62 | €2,079 | €1,467 | -€612 | -29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,138 | €936 | -€202 | -17.8% |
| Other operating charges | 640/8 | €999 | €1,035 | +€36 | +3.6% |
| Gross operating margin | 9900 | €31,930 | -€37,917 | -€69,846 | |
| Operating profit (loss) | 9901 | €27,714 | -€41,354 | -€69,068 | |
| Financial income | 75/76B | €960 | €2,194 | +€1,234 | +129% |
| Recurring financial income | 75 | €960 | €515 | -€445 | -46.4% |
| Non-recurring financial income | 76B | - | €1,680 | +€1,680 | |
| Financial charges | 65/66B | €1,723 | €1,090 | -€633 | -36.7% |
| Recurring financial charges | 65 | €1,723 | €1,090 | -€633 | -36.7% |
| Profit (loss) for the period before taxes | 9903 | €26,951 | -€40,250 | -€67,201 | |
| Income taxes | 67/77 | €6,937 | €132 | -€6,805 | -98.1% |
| Profit (loss) for the period | 9904 | €20,015 | -€40,382 | -€60,396 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,015 | -€40,382 | -€60,396 |
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 19 October 2026 via checked.be.