Formeel: 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.
Formeel
Largest movements
- Tangible fixed assets -€27,501
down €27,501 (-39.4%), from €69,727 to €42,226
of which Furniture and vehicles: -€24,216
- Current investments -€23,803
down €23,803 (-100.0%), from €23,803 to €0
- Cash -€8,733
down €8,733 (-87.5%), from €9,983 to €1,251
mainly Tax, wage and social debts (-€24,233) and Net result for the year (-€20,562)
- Receivables within one year +€4,154
up €4,154 (+7.3%), from €56,750 to €60,903
of which Trade receivables: +€7,043
- Deferred charges and accrued income -€4,008
down €4,008 (-68.0%), from €5,898 to €1,890
- Tax, wage and social debts -€24,233
down €24,233 (-63.7%), from €38,014 to €13,781
of which Taxes: -€12,769
- Profit (loss) carried forward -€20,562
down €20,562, from €0 to -€20,562
- Debts after one year -€13,300
down €13,300 (-41.9%), from €31,744 to €18,443
- Short-term financial debts +€13,132
new in 2025: €13,132
- Current portion of long-term debt -€8,386
down €8,386 (-37.9%), from €22,144 to €13,759
- Staff costs -€69,348
down €69,348 (-78.2%), from €88,685 to €19,337
- Gross operating margin -€57,359
down €57,359 (-54.7%), from €104,925 to €47,565
- Financial charges +€25,909
up €25,909 (+1068.7%), from €2,424 to €28,333
- Financial income -€19,403
down €19,403 (-85.5%), from €22,681 to €3,278
- Depreciation -€9,753
down €9,753 (-34.6%), from €28,165 to €18,412
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 | €166,161 | €106,269 | -€59,891 | -36.0% |
| Fixed assets | 21/28 | €69,727 | €42,226 | -€27,501 | -39.4% |
| Tangible fixed assets | 22/27 | €69,727 | €42,226 | -€27,501 | -39.4% |
| Land and buildings | 22 | €3,023 | €2,505 | -€518 | -17.1% |
| Plant, machinery and equipment | 23 | €13,079 | €10,312 | -€2,767 | -21.2% |
| Furniture and vehicles | 24 | €53,625 | €29,409 | -€24,216 | -45.2% |
| Current assets | 29/58 | €96,434 | €64,044 | -€32,390 | -33.6% |
| Amounts receivable within one year | 40/41 | €56,750 | €60,903 | +€4,154 | +7.3% |
| Trade receivables | 40 | €29,930 | €36,973 | +€7,043 | +23.5% |
| Other amounts receivable | 41 | €26,820 | €23,930 | -€2,890 | -10.8% |
| Current investments | 50/53 | €23,803 | €0 | -€23,803 | -100.0% |
| Cash at bank and in hand | 54/58 | €9,983 | €1,251 | -€8,733 | -87.5% |
| Deferred charges and accrued income | 490/1 | €5,898 | €1,890 | -€4,008 | -68.0% |
| Total equity and liabilities | 10/49 | €166,161 | €106,269 | -€59,891 | -36.0% |
| Equity | 10/15 | €61,476 | €40,913 | -€20,562 | -33.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €49,076 | €49,076 | = | 0.0% |
| Distributable reserves | 133 | €49,076 | €49,076 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€20,562 | -€20,562 | |
| Amounts payable | 17/49 | €104,685 | €65,356 | -€39,329 | -37.6% |
| Amounts payable after more than one year | 17 | €31,744 | €18,443 | -€13,300 | -41.9% |
| Financial debts | 170/4 | €31,744 | €18,443 | -€13,300 | -41.9% |
| Amounts payable within one year | 42/48 | €72,942 | €46,913 | -€26,028 | -35.7% |
| Current portion of amounts payable after more than one year | 42 | €22,144 | €13,759 | -€8,386 | -37.9% |
| Financial debts | 43 | - | €13,132 | +€13,132 | |
| Credit institutions | 430/8 | - | €13,132 | +€13,132 | |
| Trade debts | 44 | €4,683 | €6,240 | +€1,557 | +33.3% |
| Suppliers | 440/4 | €4,683 | €6,240 | +€1,557 | +33.3% |
| Taxes, remuneration and social security | 45 | €38,014 | €13,781 | -€24,233 | -63.7% |
| Taxes | 450/3 | €26,550 | €13,781 | -€12,769 | -48.1% |
| Remuneration and social security | 454/9 | €11,464 | €0 | -€11,464 | -100.0% |
| Other amounts payable | 47/48 | €8,100 | €0 | -€8,100 | -100.0% |
| Remuneration, social security and pensions | 62 | €88,685 | €19,337 | -€69,348 | -78.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,165 | €18,412 | -€9,753 | -34.6% |
| Other operating charges | 640/8 | €1,125 | €4,917 | +€3,792 | +337.0% |
| Gross operating margin | 9900 | €104,925 | €47,565 | -€57,359 | -54.7% |
| Operating profit (loss) | 9901 | -€13,051 | €4,899 | +€17,950 | |
| Financial income | 75/76B | €22,681 | €3,278 | -€19,403 | -85.5% |
| Recurring financial income | 75 | €22,681 | €3,278 | -€19,403 | -85.5% |
| Financial charges | 65/66B | €2,424 | €28,333 | +€25,909 | +1068.7% |
| Recurring financial charges | 65 | €2,424 | €28,333 | +€25,909 | +1068.7% |
| Profit (loss) for the period before taxes | 9903 | €7,206 | -€20,156 | -€27,362 | |
| Income taxes | 67/77 | €4,452 | €406 | -€4,046 | -90.9% |
| Profit (loss) for the period | 9904 | €2,754 | -€20,562 | -€23,316 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,754 | -€20,562 | -€23,316 |
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.