Future State: 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.
Future State
Largest movements
- Cash -€81,545
down €81,545 (-76.8%), from €106,247 to €24,702
mainly Contributions, distributions and other (-€83,824) and Receivables within one year (-€64,009)
- Receivables within one year +€64,009
up €64,009 (+1208.8%), from €5,295 to €69,304
of which Other amounts receivable: +€52,384
- Tangible fixed assets -€3,103
down €3,103 (-72.5%), from €4,279 to €1,176
of which Furniture and vehicles: -€2,207
- Debts after one year -€40,000
down €40,000 (-100.0%), from €40,000 to €0
- Other debts +€39,480
up €39,480 (+124.3%), from €31,770 to €71,250
- Profit (loss) carried forward -€36,289
down €36,289 (-96.0%), from €37,815 to €1,526
- Tax, wage and social debts +€17,923
up €17,923 (+468.2%), from €3,828 to €21,751
- Current portion of long-term debt -€1,889
down €1,889 (-100.0%), from €1,889 to €0
- Depreciation -€8,340
down €8,340 (-72.9%), from €11,442 to €3,103
- Financial charges -€2,523
down €2,523 (-96.3%), from €2,619 to €96
- Taxes +€2,228
up €2,228 (+18.3%), from €12,205 to €14,433
- Gross operating margin +€1,317
up €1,317 (+2.0%), from €64,848 to €66,164
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 | €116,787 | €97,201 | -€19,586 | -16.8% |
| Fixed assets | 21/28 | €4,279 | €1,176 | -€3,103 | -72.5% |
| Tangible fixed assets | 22/27 | €4,279 | €1,176 | -€3,103 | -72.5% |
| Plant, machinery and equipment | 23 | €2,072 | €1,176 | -€895 | -43.2% |
| Furniture and vehicles | 24 | €2,207 | €0 | -€2,207 | -100.0% |
| Current assets | 29/58 | €112,508 | €96,024 | -€16,484 | -14.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €5,295 | €69,304 | +€64,009 | +1208.8% |
| Trade receivables | 40 | €0 | €11,625 | +€11,625 | |
| Other amounts receivable | 41 | €5,295 | €57,679 | +€52,384 | +989.3% |
| Cash at bank and in hand | 54/58 | €106,247 | €24,702 | -€81,545 | -76.8% |
| Deferred charges and accrued income | 490/1 | €965 | €2,018 | +€1,053 | +109.1% |
| Total equity and liabilities | 10/49 | €116,787 | €97,201 | -€19,586 | -16.8% |
| Equity | 10/15 | €38,815 | €2,526 | -€36,289 | -93.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,815 | €1,526 | -€36,289 | -96.0% |
| Amounts payable | 17/49 | €77,972 | €94,675 | +€16,703 | +21.4% |
| Amounts payable after more than one year | 17 | €40,000 | €0 | -€40,000 | -100.0% |
| Financial debts | 170/4 | €40,000 | €0 | -€40,000 | -100.0% |
| Amounts payable within one year | 42/48 | €37,972 | €94,675 | +€56,703 | +149.3% |
| Current portion of amounts payable after more than one year | 42 | €1,889 | €0 | -€1,889 | -100.0% |
| Trade debts | 44 | €485 | €1,674 | +€1,189 | +245.0% |
| Suppliers | 440/4 | €485 | €1,674 | +€1,189 | +245.0% |
| Taxes, remuneration and social security | 45 | €3,828 | €21,751 | +€17,923 | +468.2% |
| Taxes | 450/3 | €3,828 | €21,751 | +€17,923 | +468.2% |
| Other amounts payable | 47/48 | €31,770 | €71,250 | +€39,480 | +124.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,442 | €3,103 | -€8,340 | -72.9% |
| Other operating charges | 640/8 | €993 | €1,024 | +€31 | +3.1% |
| Gross operating margin | 9900 | €64,848 | €66,164 | +€1,317 | +2.0% |
| Operating profit (loss) | 9901 | €52,412 | €62,038 | +€9,626 | +18.4% |
| Financial income | 75/76B | €227 | €25 | -€202 | -88.9% |
| Recurring financial income | 75 | €227 | €25 | -€202 | -88.9% |
| Financial charges | 65/66B | €2,619 | €96 | -€2,523 | -96.3% |
| Recurring financial charges | 65 | €2,619 | €96 | -€2,523 | -96.3% |
| Profit (loss) for the period before taxes | 9903 | €50,020 | €61,967 | +€11,947 | +23.9% |
| Income taxes | 67/77 | €12,205 | €14,433 | +€2,228 | +18.3% |
| Profit (loss) for the period | 9904 | €37,815 | €47,535 | +€9,719 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,815 | €47,535 | +€9,719 | +25.7% |
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 7 October 2026 via checked.be.