FULL THRUST: 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.
FULL THRUST
Largest movements
- Tangible fixed assets -€8,076
down €8,076 (-22.2%), from €36,372 to €28,297
of which Plant, machinery and equipment: -€4,917
- Cash -€1,560
down €1,560 (-74.1%), from €2,105 to €545
mainly Other debts (-€21,035) and Current portion of long-term debt (-€4,813)
- Receivables within one year -€1,447
down €1,447 (-100.0%), from €1,447 to €0
of which Trade receivables: -€1,447
- Other debts -€21,035
down €21,035 (-14.2%), from €148,160 to €127,125
- Trade debts +€10,262
up €10,262 (+781.1%), from €1,314 to €11,576
- Current portion of long-term debt -€4,813
no longer reported in 2025 (was €4,813)
- Tax, wage and social debts +€3,926
up €3,926 (+1683.9%), from €233 to €4,160
- Turnover -€14,785
no longer reported in 2025 (was €14,785)
- Purchases and services -€8,787
no longer reported in 2025 (was €8,787)
- Gross operating margin +€3,476
up €3,476 (+58.0%), from €5,998 to €9,474
- Other operating charges -€1,824
down €1,824 (-70.3%), from €2,595 to €771
- Depreciation +€641
up €641 (+8.6%), from €7,435 to €8,076
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 | €40,838 | €29,561 | -€11,277 | -27.6% |
| Fixed assets | 21/28 | €36,372 | €28,297 | -€8,076 | -22.2% |
| Tangible fixed assets | 22/27 | €36,372 | €28,297 | -€8,076 | -22.2% |
| Land and buildings | 22 | €20,975 | €16,971 | -€4,005 | -19.1% |
| Plant, machinery and equipment | 23 | €15,397 | €10,480 | -€4,917 | -31.9% |
| Furniture and vehicles | 24 | - | €846 | +€846 | |
| Current assets | 29/58 | €4,466 | €1,264 | -€3,202 | -71.7% |
| Amounts receivable within one year | 40/41 | €1,447 | €0 | -€1,447 | -100.0% |
| Trade receivables | 40 | €1,447 | - | -€1,447 | |
| Other amounts receivable | 41 | - | €0 | +€0 | |
| Cash at bank and in hand | 54/58 | €2,105 | €545 | -€1,560 | -74.1% |
| Deferred charges and accrued income | 490/1 | €913 | €719 | -€194 | -21.3% |
| Total equity and liabilities | 10/49 | €40,838 | €29,561 | -€11,277 | -27.6% |
| Equity | 10/15 | -€113,682 | -€113,300 | +€382 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€134,142 | -€133,760 | +€382 | +0.3% |
| Amounts payable | 17/49 | €154,520 | €142,861 | -€11,659 | -7.5% |
| Amounts payable within one year | 42/48 | €154,520 | €142,861 | -€11,659 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €4,813 | - | -€4,813 | |
| Trade debts | 44 | €1,314 | €11,576 | +€10,262 | +781.1% |
| Suppliers | 440/4 | €1,314 | €11,576 | +€10,262 | +781.1% |
| Taxes, remuneration and social security | 45 | €233 | €4,160 | +€3,926 | +1683.9% |
| Taxes | 450/3 | €233 | €4,160 | +€3,926 | +1683.9% |
| Other amounts payable | 47/48 | €148,160 | €127,125 | -€21,035 | -14.2% |
| Turnover | 70 | €14,785 | - | -€14,785 | |
| Goods, raw materials, services and sundry goods | 60/61 | €8,787 | - | -€8,787 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,435 | €8,076 | +€641 | +8.6% |
| Other operating charges | 640/8 | €2,595 | €771 | -€1,824 | -70.3% |
| Gross operating margin | 9900 | €5,998 | €9,474 | +€3,476 | +58.0% |
| Operating profit (loss) | 9901 | -€4,032 | €628 | +€4,660 | |
| Financial income | 75/76B | €9 | €1 | -€9 | -91.7% |
| Recurring financial income | 75 | €9 | €1 | -€9 | -91.7% |
| Financial charges | 65/66B | €606 | €250 | -€357 | -58.8% |
| Recurring financial charges | 65 | €606 | €250 | -€357 | -58.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,629 | €379 | +€5,008 | |
| Income taxes | 67/77 | €3 | -€3 | -€6 | |
| Profit (loss) for the period | 9904 | -€4,631 | €382 | +€5,013 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,631 | €382 | +€5,013 |
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 8 October 2026 via checked.be.