GREYBOX ARCHITECTURE: 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.
GREYBOX ARCHITECTURE
Largest movements
- Receivables within one year -€88,331
down €88,331 (-25.8%), from €341,890 to €253,559
of which Trade receivables: -€88,200
- Cash -€71,924
down €71,924 (-77.6%), from €92,695 to €20,771
mainly Trade debts (-€167,120) and Contributions, distributions and other (-€55,014)
- Receivables after one year -€48,270
down €48,270 (-100%), from €48,270 to €0
- Deferred charges and accrued income +€15,239
up €15,239 (+408%), from €3,731 to €18,970
- Trade debts -€167,120
down €167,120 (-41.0%), from €407,625 to €240,505
- Reserves -€52,085
down €52,085 (-65.9%), from €78,999 to €26,913
- Tax, wage and social debts +€23,344
up €23,344 (+234%), from €9,968 to €33,311
of which Taxes: +€24,464
- Other debts +€7,000
up €7,000 (+87.5%), from €8,000 to €15,000
- Gross operating margin -€26,134
down €26,134 (-50.5%), from €51,775 to €25,641
- Staff costs -€19,108
down €19,108 (-73.1%), from €26,130 to €7,022
- Provisions -€10,000
down €10,000, from €5,000 to -€5,000
- Other operating charges +€5,814
up €5,814 (+368%), from €1,581 to €7,396
- Taxes -€1,906
down €1,906 (-30.7%), from €6,200 to €4,294
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 | €511,260 | €317,398 | -€193,862 | -37.9% |
| Fixed assets | 21/28 | €24,674 | €24,098 | -€576 | -2.3% |
| Tangible fixed assets | 22/27 | €24,554 | €23,978 | -€576 | -2.3% |
| Land and buildings | 22 | €2,572 | €0 | -€2,572 | -100% |
| Furniture and vehicles | 24 | €18,900 | €23,978 | +€5,078 | +26.9% |
| Other tangible fixed assets | 26 | €3,081 | €0 | -€3,081 | -100% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €486,586 | €293,300 | -€193,286 | -39.7% |
| Amounts receivable after more than one year | 29 | €48,270 | €0 | -€48,270 | -100% |
| Other amounts receivable | 291 | €48,270 | €0 | -€48,270 | -100% |
| Amounts receivable within one year | 40/41 | €341,890 | €253,559 | -€88,331 | -25.8% |
| Trade receivables | 40 | €318,966 | €230,765 | -€88,200 | -27.7% |
| Other amounts receivable | 41 | €22,925 | €22,794 | -€131 | -0.6% |
| Cash at bank and in hand | 54/58 | €92,695 | €20,771 | -€71,924 | -77.6% |
| Deferred charges and accrued income | 490/1 | €3,731 | €18,970 | +€15,239 | +408% |
| Total equity and liabilities | 10/49 | €511,260 | €317,398 | -€193,862 | -37.9% |
| Equity | 10/15 | €80,667 | €28,581 | -€52,085 | -64.6% |
| Contributions | 10/11 | €1,668 | €1,668 | = | 0.0% |
| Reserves | 13 | €78,999 | €26,913 | -€52,085 | -65.9% |
| Distributable reserves | 133 | €78,999 | €26,913 | -€52,085 | -65.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €5,000 | €0 | -€5,000 | -100% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €0 | -€5,000 | -100% |
| Other liabilities and charges | 164/5 | €5,000 | €0 | -€5,000 | -100% |
| Amounts payable | 17/49 | €425,593 | €288,816 | -€136,777 | -32.1% |
| Amounts payable within one year | 42/48 | €425,593 | €288,816 | -€136,777 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €407,625 | €240,505 | -€167,120 | -41.0% |
| Suppliers | 440/4 | €407,625 | €240,505 | -€167,120 | -41.0% |
| Taxes, remuneration and social security | 45 | €9,968 | €33,311 | +€23,344 | +234% |
| Taxes | 450/3 | €3,924 | €28,388 | +€24,464 | +623% |
| Remuneration and social security | 454/9 | €6,044 | €4,924 | -€1,120 | -18.5% |
| Other amounts payable | 47/48 | €8,000 | €15,000 | +€7,000 | +87.5% |
| Remuneration, social security and pensions | 62 | €26,130 | €7,022 | -€19,108 | -73.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,703 | €11,317 | -€386 | -3.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €5,000 | -€5,000 | -€10,000 | |
| Other operating charges | 640/8 | €1,581 | €7,396 | +€5,814 | +368% |
| Gross operating margin | 9900 | €51,775 | €25,641 | -€26,134 | -50.5% |
| Operating profit (loss) | 9901 | €7,361 | €4,907 | -€2,454 | -33.3% |
| Financial income | 75/76B | €1,916 | €2,458 | +€542 | +28.3% |
| Recurring financial income | 75 | €1,916 | €2,458 | +€542 | +28.3% |
| Financial charges | 65/66B | €336 | €142 | -€194 | -57.7% |
| Recurring financial charges | 65 | €336 | €142 | -€194 | -57.7% |
| Profit (loss) for the period before taxes | 9903 | €8,941 | €7,223 | -€1,719 | -19.2% |
| Income taxes | 67/77 | €6,200 | €4,294 | -€1,906 | -30.7% |
| Profit (loss) for the period | 9904 | €2,741 | €2,929 | +€187 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,741 | €2,929 | +€187 | +6.8% |
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 29 October 2026 via checked.be.