GREEN KEY: 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.
GREEN KEY
Largest movements
- Receivables within one year -€26,490
down €26,490 (-73.0%), from €36,275 to €9,785
- Current investments -€2,002
down €2,002 (-65.4%), from €3,063 to €1,061
- Deferred charges and accrued income -€1,827
no longer reported in 2025 (was €1,827)
- Cash -€1,524
no longer reported in 2025 (was €1,524)
mainly Net result for the year (-€34,671)
- Intangible fixed assets -€600
down €600 (-20.7%), from €2,894 to €2,294
- Profit (loss) carried forward -€34,671
down €34,671 (-211.3%), from -€16,409 to -€51,080
- Short-term financial debts +€2,061
new in 2025: €2,061
- Gross operating margin -€69,822
down €69,822, from €36,878 to -€32,944
- Taxes -€10,564
down €10,564, from €10,499 to -€65
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 | €45,583 | €13,140 | -€32,443 | -71.2% |
| Fixed assets | 21/28 | €2,894 | €2,294 | -€600 | -20.7% |
| Intangible fixed assets | 21 | €2,894 | €2,294 | -€600 | -20.7% |
| Current assets | 29/58 | €42,689 | €10,846 | -€31,843 | -74.6% |
| Amounts receivable within one year | 40/41 | €36,275 | €9,785 | -€26,490 | -73.0% |
| Other amounts receivable | 41 | €36,275 | €9,785 | -€26,490 | -73.0% |
| Current investments | 50/53 | €3,063 | €1,061 | -€2,002 | -65.4% |
| Cash at bank and in hand | 54/58 | €1,524 | - | -€1,524 | |
| Deferred charges and accrued income | 490/1 | €1,827 | - | -€1,827 | |
| Total equity and liabilities | 10/49 | €45,583 | €13,140 | -€32,443 | -71.2% |
| Equity | 10/15 | €43,591 | €8,920 | -€34,671 | -79.5% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €16,000 | €16,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,409 | -€51,080 | -€34,671 | -211.3% |
| Amounts payable | 17/49 | €1,992 | €4,220 | +€2,228 | +111.8% |
| Amounts payable within one year | 42/48 | €1,992 | €4,220 | +€2,228 | +111.8% |
| Financial debts | 43 | - | €2,061 | +€2,061 | |
| Credit institutions | 430/8 | - | €2,061 | +€2,061 | |
| Trade debts | 44 | €1,967 | €2,133 | +€166 | +8.4% |
| Suppliers | 440/4 | €1,967 | €2,133 | +€166 | +8.4% |
| Taxes, remuneration and social security | 45 | €25 | €26 | +€1 | +4.0% |
| Taxes | 450/3 | €25 | €26 | +€1 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €634 | €600 | -€34 | -5.4% |
| Other operating charges | 640/8 | €873 | €709 | -€164 | -18.8% |
| Non-recurring operating charges | 66A | - | €139 | +€139 | |
| Gross operating margin | 9900 | €36,878 | -€32,944 | -€69,822 | |
| Operating profit (loss) | 9901 | €35,371 | -€34,392 | -€69,763 | |
| Financial income | 75/76B | €17 | - | -€17 | |
| Recurring financial income | 75 | €17 | - | -€17 | |
| Financial charges | 65/66B | €577 | €344 | -€233 | -40.4% |
| Recurring financial charges | 65 | €577 | €344 | -€233 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | €34,811 | -€34,736 | -€69,547 | |
| Income taxes | 67/77 | €10,499 | -€65 | -€10,564 | |
| Profit (loss) for the period | 9904 | €24,312 | -€34,671 | -€58,983 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,312 | -€34,671 | -€58,983 |
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.