Frames of Mind: 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.
Frames of Mind
Largest movements
- Receivables within one year +€8,367
up €8,367 (+1,369%), from €611 to €8,979
of which Trade receivables: +€8,367
- Tangible fixed assets -€8,056
down €8,056 (-26.5%), from €30,453 to €22,397
of which Furniture and vehicles: -€7,619
- Other debts +€25,475
up €25,475 (+115%), from €22,217 to €47,692
- Reserves -€19,885
down €19,885 (-100%), from €19,885 to €0
- Debts after one year -€5,580
down €5,580 (-36.2%), from €15,416 to €9,836
- Current portion of long-term debt -€1,188
down €1,188 (-17.6%), from €6,768 to €5,580
- Gross operating margin +€16,478
up €16,478 (+70.3%), from €23,435 to €39,914
- Taxes +€4,493
up €4,493 (+123%), from €3,642 to €8,135
- Depreciation +€1,858
up €1,858 (+30.0%), from €6,198 to €8,056
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 | €73,163 | €72,702 | -€461 | -0.6% |
| Fixed assets | 21/28 | €30,453 | €22,397 | -€8,056 | -26.5% |
| Tangible fixed assets | 22/27 | €30,453 | €22,397 | -€8,056 | -26.5% |
| Plant, machinery and equipment | 23 | €437 | €0 | -€437 | -100% |
| Furniture and vehicles | 24 | €30,015 | €22,397 | -€7,619 | -25.4% |
| Current assets | 29/58 | €42,710 | €50,305 | +€7,595 | +17.8% |
| Amounts receivable within one year | 40/41 | €611 | €8,979 | +€8,367 | +1,369% |
| Trade receivables | 40 | €611 | €8,979 | +€8,367 | +1,369% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €40,053 | €39,849 | -€204 | -0.5% |
| Deferred charges and accrued income | 490/1 | €2,046 | €1,477 | -€569 | -27.8% |
| Total equity and liabilities | 10/49 | €73,163 | €72,702 | -€461 | -0.6% |
| Equity | 10/15 | €22,385 | €2,500 | -€19,885 | -88.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €19,885 | €0 | -€19,885 | -100% |
| Distributable reserves | 133 | €19,885 | €0 | -€19,885 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €50,778 | €70,202 | +€19,423 | +38.3% |
| Amounts payable after more than one year | 17 | €15,416 | €9,836 | -€5,580 | -36.2% |
| Financial debts | 170/4 | €15,416 | €9,836 | -€5,580 | -36.2% |
| Amounts payable within one year | 42/48 | €35,362 | €60,366 | +€25,003 | +70.7% |
| Current portion of amounts payable after more than one year | 42 | €6,768 | €5,580 | -€1,188 | -17.6% |
| Trade debts | 44 | €827 | €1,240 | +€413 | +49.9% |
| Suppliers | 440/4 | €827 | €1,240 | +€413 | +49.9% |
| Taxes, remuneration and social security | 45 | €5,550 | €5,853 | +€303 | +5.5% |
| Taxes | 450/3 | €5,550 | €5,853 | +€303 | +5.5% |
| Other amounts payable | 47/48 | €22,217 | €47,692 | +€25,475 | +115% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,198 | €8,056 | +€1,858 | +30.0% |
| Other operating charges | 640/8 | €1,078 | €985 | -€93 | -8.6% |
| Non-recurring operating charges | 66A | €94 | €0 | -€94 | -100% |
| Gross operating margin | 9900 | €23,435 | €39,914 | +€16,478 | +70.3% |
| Operating profit (loss) | 9901 | €16,066 | €30,872 | +€14,807 | +92.2% |
| Financial charges | 65/66B | €674 | €916 | +€243 | +36.0% |
| Recurring financial charges | 65 | €674 | €916 | +€243 | +36.0% |
| Profit (loss) for the period before taxes | 9903 | €15,392 | €29,956 | +€14,564 | +94.6% |
| Income taxes | 67/77 | €3,642 | €8,135 | +€4,493 | +123% |
| Profit (loss) for the period | 9904 | €11,750 | €21,822 | +€10,071 | +85.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,750 | €21,822 | +€10,071 | +85.7% |
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 17 October 2026 via checked.be.