FUNNEL VISION: 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.
FUNNEL VISION
Largest movements
- Cash -€40,248
down €40,248 (-89.4%), from €45,044 to €4,796
mainly Contributions, distributions and other (-€159,000) and Receivables within one year (-€6,927)
- Receivables after one year -€37,500
down €37,500 (-100.0%), from €37,500 to €0
of which Other amounts receivable: -€37,500
- Receivables within one year +€6,927
up €6,927 (+42.1%), from €16,457 to €23,383
of which Trade receivables: +€6,714
- Deferred charges and accrued income +€3,781
up €3,781 (+171.4%), from €2,206 to €5,987
- Tangible fixed assets +€1,229
up €1,229 (+46.7%), from €2,632 to €3,861
of which Plant, machinery and equipment: +€636
- Reserves -€88,913
down €88,913 (-99.5%), from €89,341 to €428
- Tax, wage and social debts +€14,015
up €14,015 (+142.8%), from €9,814 to €23,829
- Other debts +€7,688
up €7,688 (+514.6%), from €1,494 to €9,182
- Taxes +€6,603
up €6,603 (+32.7%), from €20,189 to €26,791
- Gross operating margin +€3,891
up €3,891 (+4.1%), from €93,786 to €97,677
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 | €103,840 | €38,028 | -€65,811 | -63.4% |
| Fixed assets | 21/28 | €2,632 | €3,861 | +€1,229 | +46.7% |
| Tangible fixed assets | 22/27 | €2,632 | €3,861 | +€1,229 | +46.7% |
| Plant, machinery and equipment | 23 | €917 | €1,553 | +€636 | +69.3% |
| Furniture and vehicles | 24 | €1,715 | €2,308 | +€593 | +34.6% |
| Current assets | 29/58 | €101,207 | €34,167 | -€67,040 | -66.2% |
| Amounts receivable after more than one year | 29 | €37,500 | €0 | -€37,500 | -100.0% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €37,500 | €0 | -€37,500 | -100.0% |
| Amounts receivable within one year | 40/41 | €16,457 | €23,383 | +€6,927 | +42.1% |
| Trade receivables | 40 | €15,602 | €22,316 | +€6,714 | +43.0% |
| Other amounts receivable | 41 | €855 | €1,067 | +€213 | +24.9% |
| Cash at bank and in hand | 54/58 | €45,044 | €4,796 | -€40,248 | -89.4% |
| Deferred charges and accrued income | 490/1 | €2,206 | €5,987 | +€3,781 | +171.4% |
| Total equity and liabilities | 10/49 | €103,840 | €38,028 | -€65,811 | -63.4% |
| Equity | 10/15 | €90,841 | €1,928 | -€88,913 | -97.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €89,341 | €428 | -€88,913 | -99.5% |
| Distributable reserves | 133 | €89,341 | €428 | -€88,913 | -99.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €12,999 | €36,101 | +€23,102 | +177.7% |
| Amounts payable within one year | 42/48 | €12,999 | €35,971 | +€22,972 | +176.7% |
| Financial debts | 43 | €1,393 | €1,850 | +€456 | +32.8% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €1,393 | €1,850 | +€456 | +32.8% |
| Trade debts | 44 | €297 | €1,111 | +€814 | +273.6% |
| Suppliers | 440/4 | €297 | €1,111 | +€814 | +273.6% |
| Taxes, remuneration and social security | 45 | €9,814 | €23,829 | +€14,015 | +142.8% |
| Taxes | 450/3 | €9,814 | €23,829 | +€14,015 | +142.8% |
| Other amounts payable | 47/48 | €1,494 | €9,182 | +€7,688 | +514.6% |
| Accrued charges and deferred income | 492/3 | - | €130 | +€130 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,582 | €1,197 | -€385 | -24.3% |
| Other operating charges | 640/8 | €1,091 | €788 | -€303 | -27.8% |
| Gross operating margin | 9900 | €93,786 | €97,677 | +€3,891 | +4.1% |
| Operating profit (loss) | 9901 | €91,113 | €95,692 | +€4,579 | +5.0% |
| Financial income | 75/76B | €2,081 | €2,000 | -€81 | -3.9% |
| Recurring financial income | 75 | €2,081 | €2,000 | -€81 | -3.9% |
| Financial charges | 65/66B | €868 | €814 | -€54 | -6.3% |
| Recurring financial charges | 65 | €868 | €814 | -€54 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €92,326 | €96,878 | +€4,552 | +4.9% |
| Income taxes | 67/77 | €20,189 | €26,791 | +€6,603 | +32.7% |
| Profit (loss) for the period | 9904 | €72,137 | €70,087 | -€2,051 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €72,137 | €70,087 | -€2,051 | -2.8% |
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 4 October 2026 via checked.be.