Force Majeure: 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.
Force Majeure
Largest movements
- Stocks and contracts -€16,875
down €16,875 (-62.6%), from €26,957 to €10,082
- Cash +€16,739
up €16,739 (+151.9%), from €11,019 to €27,758
mainly Net result for the year (+€20,700) and Other debts (+€20,517)
- Tangible fixed assets +€16,581
up €16,581 (+302.8%), from €5,476 to €22,056
of which Furniture and vehicles: +€14,794
- Receivables within one year -€2,257
down €2,257 (-2.6%), from €85,695 to €83,439
of which Trade receivables: -€10,008
- Trade debts -€25,933
down €25,933 (-32.5%), from €79,793 to €53,860
- Profit (loss) carried forward +€20,700
up €20,700 (+41.4%), from -€50,041 to -€29,342
- Other debts +€20,517
up €20,517 (+43.1%), from €47,645 to €68,162
- Gross operating margin +€52,967
up €52,967 (+187.3%), from €28,283 to €81,250
- Staff costs -€6,151
down €6,151 (-11.1%), from €55,210 to €49,060
- Financial charges -€1,544
down €1,544 (-68.5%), from €2,254 to €710
- Depreciation +€1,425
up €1,425 (+48.8%), from €2,920 to €4,345
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 | €131,171 | €144,984 | +€13,814 | +10.5% |
| Formation expenses | 20 | €182 | €0 | -€182 | -100.0% |
| Fixed assets | 21/28 | €5,476 | €22,056 | +€16,581 | +302.8% |
| Tangible fixed assets | 22/27 | €5,476 | €22,056 | +€16,581 | +302.8% |
| Plant, machinery and equipment | 23 | - | €1,787 | +€1,787 | |
| Furniture and vehicles | 24 | €5,476 | €20,269 | +€14,794 | +270.2% |
| Current assets | 29/58 | €125,513 | €122,928 | -€2,585 | -2.1% |
| Stocks and contracts in progress | 3 | €26,957 | €10,082 | -€16,875 | -62.6% |
| Stocks | 30/36 | €26,957 | €10,082 | -€16,875 | -62.6% |
| Amounts receivable within one year | 40/41 | €85,695 | €83,439 | -€2,257 | -2.6% |
| Trade receivables | 40 | €81,751 | €71,744 | -€10,008 | -12.2% |
| Other amounts receivable | 41 | €3,944 | €11,695 | +€7,751 | +196.5% |
| Cash at bank and in hand | 54/58 | €11,019 | €27,758 | +€16,739 | +151.9% |
| Deferred charges and accrued income | 490/1 | €1,842 | €1,649 | -€192 | -10.4% |
| Total equity and liabilities | 10/49 | €131,171 | €144,984 | +€13,814 | +10.5% |
| Equity | 10/15 | -€39,717 | -€19,018 | +€20,700 | +52.1% |
| Contributions | 10/11 | €10,324 | €10,324 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,041 | -€29,342 | +€20,700 | +41.4% |
| Amounts payable | 17/49 | €170,888 | €164,002 | -€6,886 | -4.0% |
| Amounts payable after more than one year | 17 | €29,000 | €29,000 | = | 0.0% |
| Financial debts | 170/4 | €29,000 | €29,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €141,588 | €134,402 | -€7,186 | -5.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €79,793 | €53,860 | -€25,933 | -32.5% |
| Suppliers | 440/4 | €79,793 | €53,860 | -€25,933 | -32.5% |
| Advances received on contracts in progress | 46 | €1,429 | €0 | -€1,429 | -100.0% |
| Taxes, remuneration and social security | 45 | €12,722 | €12,380 | -€342 | -2.7% |
| Taxes | 450/3 | €2,510 | €1,570 | -€940 | -37.5% |
| Remuneration and social security | 454/9 | €10,212 | €10,810 | +€598 | +5.9% |
| Other amounts payable | 47/48 | €47,645 | €68,162 | +€20,517 | +43.1% |
| Accrued charges and deferred income | 492/3 | €300 | €600 | +€300 | +100.0% |
| Remuneration, social security and pensions | 62 | €55,210 | €49,060 | -€6,151 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,920 | €4,345 | +€1,425 | +48.8% |
| Other operating charges | 640/8 | €1,918 | €2,031 | +€113 | +5.9% |
| Non-recurring operating charges | 66A | - | €4,344 | +€4,344 | |
| Gross operating margin | 9900 | €28,283 | €81,250 | +€52,967 | +187.3% |
| Operating profit (loss) | 9901 | -€31,765 | €21,471 | +€53,235 | |
| Financial income | 75/76B | €6 | €0 | -€6 | -100.0% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -100.0% |
| Financial charges | 65/66B | €2,254 | €710 | -€1,544 | -68.5% |
| Recurring financial charges | 65 | €2,254 | €710 | -€1,544 | -68.5% |
| Profit (loss) for the period before taxes | 9903 | -€34,013 | €20,760 | +€54,773 | |
| Income taxes | 67/77 | €174 | €60 | -€114 | -65.4% |
| Profit (loss) for the period | 9904 | -€34,187 | €20,700 | +€54,887 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,187 | €20,700 | +€54,887 |
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 10 October 2026 via checked.be.